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$5 Billion(?) Class Action Against Monex and owners Louis Carabini and Michael Carabini



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Monex Ownership

First, it is important to remember that ownership is dynamic: it can change at any point in time. Most of this ownership information is quite current (less than a year old).

Monex is almost entirely owned by Michael Carabini (the son of the founder, Louis Carabini), through various corporate entities and trusts.

Both Monex Deposit Company and Monex Credit Company are 96.6% owned by Michael Carabini and/or his wife, either directly or through personal family trusts. They are also both owned by Ronald Smoler (1.4%), Brian D. Jenkins (1.0%) and Michael Maroney (1.0%). Smoler is the Head of Trading at Monex, Jenkins is the CFO of Monex, and Maroney is the Sales Director a/k/a VP of Sales of Monex.

Comco, Concord Manager Corporation, Metco, Newport Service Corporation, Scala Funding, and Secured Credit Corporation are all 100% owned by Michael Carabini either directly or via revocable trusts.

Monex Companies

Company NameYear StartedOwnershipDescription
Comco Management CorpA Delaware Sub-S corporation, formed in 1996100% owned by Michael Carabini, via Madison Investments. General partner of Monex Deposit Company.
Concord Funding Company, LLC
(CFC)
a/k/a Concord Trust
A Delaware Limited Liability Company, formed circa 1995Owned by Monex Credit Company (40%), Secured Credit Corporation (40%), and Concord Manager Corporation (20%). A bankruptcy-remote single purpose entity to achieve structured financing of an asset-backed securitization. Appears to have been replaced by Scala Funding Company, LLC in late 2016.
Concord Manager Corporation
f/k/a Concord Management Corporation
A Delaware corporation established in 1995.Owned 100% by Michael A. Carabini. General Manager of Concord Funding Company.
Madison InvestmentsA revocable trust, with Michael Carabini is the TrusteeMichael Carabini. Owns 100% of Comco Management Corp, Metco Management Corp, and Newport Service Corporation.
Metco Management CorpA California Sub-S corporation formed in 1996.100% owned by Michael Carabini, via Madison Investments. General partner of Monex Credit Company. Its only activity is management of MCC. .
Monaco Financial, LLCA California Limited Liability Company, formed in 1997Owned by Michael Carabini, Victoria Investments (a trust of his wife), Adam Crum (VP of Monaco Rare Coins), Brian Jenkins, and Ron Smoller. Specializes in certified numismatic collectibles. It is the company behind Monaco Rare Coins.
Monaco Rare CoinsSeems to be a DBA for Monaco Financial, LLC. See Monaco Financial, LLCSee Monaco Financial, LLC. Monaco Financial "goes by the name" Monaco Rare Coins.
Monex Credit Company
(MCC)
A California Limited Partnership, organized in 1987.Owned by: Lemonwood Investments (40.3%), Amberwood Investments (40.3%), Metco Managment Corporation (11.0%), Michael A. Carabini (5.0%), Ronald Smoler (1.4%), Brian D. Jenkins (1.0%), Michael Maroney (1.0%).Finances customer precious metals purchases and is servicer for the Concord Funding Company transactions. Also is responsible for loaning commodities (e.g. short positions).
Monex Deposit Company
(MDC)
A California Limited Partnership, organized in 1987.Owned by: Montgomery Trust (40.3%), Emerson Trust (40.3%), Michael A. Carabini (11.0%), Comco Managment Corporation (5.0%), Ronald Smoler (1.4%), Brian D. Jenkins (1.0%), Michael Maroney (1.0%). Executes precious metals trades with customers and with institutional dealers and trading partners.
Newport Service CorporationA California Sub-S corporation, formed in 1987.100% owned by Michael Carabini, via Madison Investments. Provides various administrative, accounting, financial, inventory control, data processing, marketing, publishing, and compliance support services to to Monex affiliated companies.
Scala Funding Company, LLC
a/k/a Scala Trust
A Delaware LLC, formed in 2016100% owned by Michael Carabini, via the Amberwood Investments and Lemonwood Investments trusts. Appears to replace Concord Funding Company, LLC.
Secured Credit Corporation
(SCC)
A California Sub-S corporation, formed in 1992100% owned by Michael Carabini. A California licensed finance lender. Provides loans to Monaco Financial a/k/a Monaco Rare Coins customers.


Defunct Companies

Other companies that no longer operate, with the year they started:

The Carabini Foundation (1984), Case Enterprises (an offshore entity set up by the Carabinis, set up by 1981), First Security Bancorp (1991), Monex Corporation, Monex Credit Corporation (replaced by Monex Credit Company) , Monex Deposit Corporation (replaced by Monex Deposit Company), Monex Financial Corporation (1971), Monex International, Ltd. (1971), Monex International Deposit Corporation (1974), Monex Rare Coins, LLC (1997), Monex Trading Corporation (1976), Pacific Coast Coin Exchange, Ltd. (PCCE) (~1967), Private Civil Corps Enterprise Inc (1985) ("PCCE"), Unimet Trading Corporation (1988).

Note that Monex International, Inc. merged into Monex Corporation. Monex Corporation changed its name to PCCE, Inc. (presumably the initials for Pacific Coast Coin Exchange). PCCE, Inc. later changed its name to "Private Civil Corps Enterprise"



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