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Old 04-13-2008, 01:38 PM
2 posts, read 15,544 times
Reputation: 14


Mobster Sentenced to 10 Yrs. in Federal Prison After Playing The Part Of A Mobster In The Feature Film "Forget About It"

In an incredible case of art imitating life, after playing the part of a mobster who stole millions in the recently released, award-winning feature film "Forget About It", Michael Paloma pleaded guilty to multimillion dollar stock fraud in a scheme involving members of the Bonanno crime family, was sentenced to 10 years in federal prison and ordered to pay $7.8 million dollars in restitution.

On March 14, 2008 federal Judge Leonie Brinkema in the U.S. Eastern District of Virginia sentenced Arizona recidivist Michael Paloma aka Michael Ralph Saquella aka Michael Blake (Case Number 1:07 CR305-001) to ten years imprisonment. Paloma was ordered to pay $7.8 million dollars dollars in restitution. According to the filings by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), Paloma and his co-conspirators, including prominent mobsters, bilked as many as 25,000 penny stock investors of up to $50 million dollars.

This story has it all: an Elvis impersonator who claimed to be a Samurai competing in Jiu-Jitsu matches, attempted to avoid incarceration by claiming that he was "seeing dead people", recorded his own Blues album, was involved with the mob, stole millions in elaborate stock schemes and ended up in prison. In a shocking twist to an already elaborate plot, Paloma was also an actor who played the part of a mobster that stole millions and ended up in prison.

One of the 15 companies victimized by Paloma, Beverly Hills Film Studios, produced an award-winning feature film "Forget About It", starring Burt Reynolds, Raquel Welch, Charles Durning, Robert Loggia, Phyllis Diller and Richard Grieco. Michael Paloma insisted on co-starring in the film by fraudulently representing to the film executives that production funds were to come from Paloma’s "private investment group". Unbeknownst to the company’s former President, BJ Davis, in reality the funds came from Paloma’s unlawful exploitation of the company’s own stock.

Paloma subjected filmmakers and company management to threats and extortion by the members of the Bonanno crime family, with which Paloma is openly affiliated. Salvatore "Bill" Bonanno and his nephew, Anthony Tarantola, participated in Paloma’s penny stock schemes, brazenly harassed and threatened managers of victim companies in order to prevent them from cooperating with authorities. Former President of Beverly Hills Film Studios, BJ Davis, contacted the FBI and the Securities and Exchange Commission (SEC) and arranged meetings with both agencies - eventually discovering that Paloma was a recidivist, having been previously charged by the SEC for stock fraud.

The FBI and the SEC officially enlisted BJ’s help with their investigation, started to obtain information from managers of defrauded companies and wiretapped Paloma’s telephones, obtaining a wealth of information, since Paloma and his confederates were in the midst of another stock fraud scheme, 10 years in the making.

The government’s filings state: "The defendant, Michael Saquella, defrauded over 24,000 investors and numerous companies of millions of dollars (over $20,000,000 in total for the conspiracy) largely so that he could finance his lavish lifestyle and his vanity film projects starring himself in a leading role. Caught on a "wire tap," the defendant’s deceptive methods laid bare the pervasive nature of his greed and deceitful ways, as well as his utter contempt for the many victims he left in his wake."

Outrageously, Department of Homeland Security Agents, formerly employed by the Immigration and Customs Enforcement (ICE), Jeffrey Deal and Herbert Kaufer, informed the mobsters of the fact that BJ Davis was providing information to authorities. Kaufer and Deal have also interfered with the investigation and prosecution of Paloma and his cohorts, as they were planning to utilize them in malicious prosecutions against BJ Davis and his wife Julia Davis (government whistleblower). Additional information can be obtained on the website for the Citizens Committee for Constitutional Protection,


Vanity and greed formed a combustible mixture throughout Paloma’s illustrious career. The government’s filings state that he "led traders, promoters, marketers, spammers, and others in the repeated fleecing of investors and small business owners." Michael Paloma, Anthony Tarantola and Salvatore "Bill" Bonanno repeatedly demonstrated their open involvement with organized crime. The group announced the following titles for their imaginary production slate: "Mafia Files", "Sal and His Pals", "Track 'em and Whack 'em", "The Goomba Brothers" and "I Don’t Wanna Work".

In spite of the overwhelming evidence of Paloma's, Bonanno's and Tarantola's criminal actions that caused irreparable damage to numerous companies and their projects, federal Judge A. Howard Matz (Alvin Howard Matz) dismissed civil cases against them, even though these defendants were properly served and were in default by failing to respond to the lawsuits against them. Matz exclaimed that BJ Davis' alllegations of criminal actions by Paloma, Bonanno and Tarantola were "only his opinions". Judge Matz was infamously involved in the Hillarygate scandal and made false statements to the jury in that case, which is being referred to in the media as a "mother of all cover-ups." Judge Matz' corruption is currently at issue in several pending complaints of judicial misconduct.

The government’s charging papers state that Paloma and his co-conspirators "realized in excess of $26,651,070 million between November 2003 and May 2006 in artificial trading profits as a result of the pumping and dumping the shares of the Issuer’s stock...". Paloma pleaded guilty and admitted that his actions, as recounted in the government’s filings, "were in all respects intentional and deliberate, reflecting an intention to do something the law forbids." On March 14, 2008 Judge Brinkema sentenced Michael Paloma to 10 years in federal prison. Pursuant to his plea deal, Paloma waived all rights to appeal his conviction or the sentence on any ground whatsoever.

After a long legal struggle with Paloma and his cohorts, which included numerous threats and extortion, Davis and current management of the company formerly known as Beverly Hills Film Studios, were able to bring the film back to its rightful owners, company shareholders. Paloma intended to fleece the investors and the company even further by attempting to gain control of "Forget About It." In yet another parallel to the film, he was unsuccessful in getting away with the loot.

Pursuant to his guilty plea, Paloma agreed to "forfeit all interests in any asset that the defendant owns or over which the defendant exercises control, directly or indirectly, as well as any property that is traceable to, derived from, fungible with, or a substitute for a property that constitutes the proceeds of his offenses."

Producers of the film, BJ Davis, John D. Schofield and Kimberley Kates expressed their relief at the conclusion of this ordeal. The company and the film are now enjoying much success -- a sequel and television show are in the works, in addition to what is sure to be a revealing tell-all documentary.

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Old 04-10-2009, 01:13 PM
1 posts, read 9,662 times
Reputation: 11
By chance I did a rendom search on this guy... this dirty guy from my past.
I worked for him at one time. He was shady, manipulative, and undermining.
He was also a Blues Brothers impersonator out of Vegas and Globe AZ years and years ago.

He didn't pay his employees some of the time... and if/when he did it was always a huge ordeal to try and get paid in the first place.

Grade A *******...
He also created a fake IMDB profile (which is still up), but people have gotten hip to it. I was going to put comments there as well but they asked for my CC# or my Amazon Account login and password. NO WAY.... it's like another one of his scams... haha.
Thanks for posting this article. Very interesting read...

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Old 05-12-2010, 10:50 AM
Location: Londonderry, NH
41,477 posts, read 58,708,949 times
Reputation: 24851
Take them outside, put them against the wall and shoot them and all their associates.
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Old 08-15-2016, 02:10 PM
1 posts, read 3,594 times
Reputation: 12
I don't know why my last post was erased. Michael always paid me and gave me opportunities that I wouldn't have had. It was BJ Davis that caused the mess on Forget About It firstly by stealing my script and putting his wife's name on it.
I would back Michael in any way possible.
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Old 03-19-2018, 11:03 AM
2 posts, read 3,015 times
Reputation: 16
B.J.Davis is a crybaby and a liar, but because he doesn't have an Italian surname of course he was believed over everyone else. Look I'm not saying Paloma was an angel or anything but Davis was just as bad if not worse than the rest of them.
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Old 01-28-2019, 11:23 PM
1 posts, read 1,908 times
Reputation: 11
Default Crook

Michael Saquella aka Paloma aka Blake..is a complete con artist. Joke of a human. Rips off employees, bounces checks. Is a bi polar pervert. No talent. Fat. Fat. Fat. Horrible want to be no talent actor. Will thankfully be heading back to jail soon. Criminal. Breaks tons of laws. Lies about distribution deals. Nobody with any talent or brain would ever work with this man twice. Can’t wait until his next sentencing. 20 to life this time around
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