Inconceivable
New Member
Doug,
The "esteemed" :rotfl: Mr. Raker is now a salesman for CAE/SimuFlite in the NY region. A far cry from the aviation master of the universe role he was strutting around as eighteen months ago.
You might also enjoy the following story. I saw his picture on the ERAU Alum invitation for the NBAA cocktail party:
prompting me to write the following:
Ms. Montgomery,
Respectfully, I question your usage of Mr. Raker's photograph on the website http://www.erau.edu/about/events/nbaa.html
Mr. Raker's disastrous activities at the CAPT program have left his former employees and students in financial ruin. There are over 180 young Chinese men whose careers as pilots were aborted after Mr. Raker misspent over six million dollars of their prepaid tuition. In addition, over a dozen domestic students have lost in excess of four hundred thousand dollars in prepaid tuition, much of which was collected at Mr. Raker's direction after knowing that he could not fulfill his contractual obligations to train students.
Currently being sued in both state and federal courts and under criminal investigation for fraud for transactions related to CAPT, Mr. Raker and his holding company FTSI have been forced into involuntary bankruptcy in federal court in Jacksonville in an attempt to reclaim a portion of what was diverted. Finally, Mr. Raker through CAPT owes tens of thousands of dollars in unpaid wages, payroll taxes, 401-k contributions, and unpaid personal leave to his employees, myself included. If you are curious as to how the money was spent, you can see the $1.7 million dollar home he purchased outside Atlanta within weeks of inking the Chinese training contract. It can be viewed here, marked down to $1.1M, as the property has since been seized by the government.
The realities of Mr. Raker's business decisions, current status, and outright larceny are a far cry from what was represented in the puff-piece produced in the Spring 2008 edition of Lift. Not only has this man devastated hundreds of families' lives, but he has again made Embry-Riddle financially liable for the Palm Coast facility. In the interim, the Civil Aviation Authority of China will not approve any new U.S. schools for CAAC Part 141 training as a result of their experience with Mr. Raker. This is resulting in tens of millions of dollars per year in flight training that is being spent in Australia and Canada rather than in the United States because of the broken promises and outright lies of one man.
Mr. Raker has been forced off of the boards of several organizations; Careers in Aviation has removed all traces of his name from their publications. RADM Coane, former Chairman of the Board of FTSI cut all ties with Mr. Raker last November. I would submit that the university does itself no favor by continued public association with such an individual. After all, those last few alumni contributions were financed by a group of twenty-somethings' Key Loan payments--and all they have to show for it are twenty years of loan payments for training never received.
Sincerely,
me
I received the following response within two hours:
Happy New Year, Doug. I've been enjoying your site for almost a dozen years. Thanks for all the good you do in our community.
--Inconceivable
The "esteemed" :rotfl: Mr. Raker is now a salesman for CAE/SimuFlite in the NY region. A far cry from the aviation master of the universe role he was strutting around as eighteen months ago.
You might also enjoy the following story. I saw his picture on the ERAU Alum invitation for the NBAA cocktail party:
prompting me to write the following:
Ms. Montgomery,
Respectfully, I question your usage of Mr. Raker's photograph on the website http://www.erau.edu/about/events/nbaa.html
Mr. Raker's disastrous activities at the CAPT program have left his former employees and students in financial ruin. There are over 180 young Chinese men whose careers as pilots were aborted after Mr. Raker misspent over six million dollars of their prepaid tuition. In addition, over a dozen domestic students have lost in excess of four hundred thousand dollars in prepaid tuition, much of which was collected at Mr. Raker's direction after knowing that he could not fulfill his contractual obligations to train students.
Currently being sued in both state and federal courts and under criminal investigation for fraud for transactions related to CAPT, Mr. Raker and his holding company FTSI have been forced into involuntary bankruptcy in federal court in Jacksonville in an attempt to reclaim a portion of what was diverted. Finally, Mr. Raker through CAPT owes tens of thousands of dollars in unpaid wages, payroll taxes, 401-k contributions, and unpaid personal leave to his employees, myself included. If you are curious as to how the money was spent, you can see the $1.7 million dollar home he purchased outside Atlanta within weeks of inking the Chinese training contract. It can be viewed here, marked down to $1.1M, as the property has since been seized by the government.
The realities of Mr. Raker's business decisions, current status, and outright larceny are a far cry from what was represented in the puff-piece produced in the Spring 2008 edition of Lift. Not only has this man devastated hundreds of families' lives, but he has again made Embry-Riddle financially liable for the Palm Coast facility. In the interim, the Civil Aviation Authority of China will not approve any new U.S. schools for CAAC Part 141 training as a result of their experience with Mr. Raker. This is resulting in tens of millions of dollars per year in flight training that is being spent in Australia and Canada rather than in the United States because of the broken promises and outright lies of one man.
Mr. Raker has been forced off of the boards of several organizations; Careers in Aviation has removed all traces of his name from their publications. RADM Coane, former Chairman of the Board of FTSI cut all ties with Mr. Raker last November. I would submit that the university does itself no favor by continued public association with such an individual. After all, those last few alumni contributions were financed by a group of twenty-somethings' Key Loan payments--and all they have to show for it are twenty years of loan payments for training never received.
Sincerely,
me
I received the following response within two hours:
Happy New Year, Doug. I've been enjoying your site for almost a dozen years. Thanks for all the good you do in our community.
--Inconceivable
