Orbach read about the Medici family while locked up. Before his release from prison in August 2013, he started the paperwork to create his nonprofit Medici Foundation. "I thought it would be cool to call it that," he explains.

"I have such a different mindset now," he says. "I've slayed my dragons; I don't need to be the next Wells Fargo."

The foundation's mission is to generate wealth not for the haves, but for the have-nots, including those behind bars who truly want to make their lives better once they are sprung. It isn't based in corporate offices, as were Orbach's banks of the past, but his little white rental in Newport Heights. Total staff: 1.

"We're getting some momentum," he says excitedly as we drain our coffees. "I want to raise a good amount of money so we can be self-sustaining and loan funds from [the foundation]. We would be like a bank or university endowment. We would rely on investments, and my investments would be loans."

Randy Orbach’s home and office
John Gilhooley
Randy Orbach’s home and office
Like Robin Hood, except he borrows from the rich
John Gilhooley
Like Robin Hood, except he borrows from the rich

From his past life in finance, he knows those who run major corporations want to encourage businesses owned by minorities. But the risk, stigma and charges of favoritism make it problematic to directly fund such ventures, which many banks won't even touch. That's where the Medici Foundation would step in, soliciting donations from corporations and wealthy individuals, and then doling out loans to franchisees who locate or expand their businesses in poorer areas.

Orbach concedes the foundation would not be able to place covenants on loans that require the hiring of former prison inmates, but because so many seeking jobs in the targeted communities have arrest records, "the odds are a lot better" that they will be among those hired for new jobs.

"I want to be a benefit to places such as Santa Ana, Oakland and Fresno," he says.

During his former banking days, many of his clients were new-car dealers who operated several lots, sometimes in multiple states. Orbach believes they would be perfect fits for the Medici Foundation. A dealer might find it difficult to open a new store in Santa Ana, he throws out as an example. Bank financing could be difficult to acquire, and an automaker—Orbach uses Ford in his example—would not want to show favoritism to a particular potential dealer by providing start-up costs. But Ford could contribute to Medici, which in turn could loan the dealer funds.

"They are great clients, and they always need money," said Orbach of auto dealers, who he is convinced will be "great for the foundation" along with businesses in the service industry, especially food service.

There is one hurdle: the Internal Revenue Service, which since the Great Recession has been wary of nonprofit banks. Then again, the government realizes private banks are not lending these days, or at least not much. That is among what has been blamed for slow to no job growth, especially in places Orbach would be looking to help.

The Medici Foundation founder is confident he can convince the IRS its loans make business sense. All he says he needs is for four or five corporations or wealthy individuals to get on board, and the foundation's future will be set.

When he has managed to make his pitch to potential investors, Orbach reports, "Everyone loves it. They think it's a great idea."

But Orbach admits that helping his fellow unfortunate man is not the only reason he's gone the nonprofit route. "Seeing where my tax dollars have gone the past 30 years, I really don't want to pay taxes anymore," he says. "The amount of money we're wasting is terrible." He saw it firsthand in the California corrections system, quick to remind me the prison-guard union is among the state's biggest.

Orbach swears he does not miss his former fancy cars, corporate suites and big house, which he lost around the time of his $10 million business implosion.

"I have such a different mindset now," he says. "I like the simplicity. I've slayed my dragons; I don't need to be the next Wells Fargo."

(Parnell, who stuck by Orbach through it all, paused a moment when asked if he's the same person he was when he got in trouble. "I'd say he's more mellow," she finally answers. "He's slowed down a little bit and reassessed things.")

Orbach credits his children, parents and friends for helping keep his priorities straight.

"Friends who found out what happened looked me up [in prison] and wrote me letters, which was nice," he says. "They would say, 'I will not judge you; I know who you are.' I had some great visits. I have really great friends."

He knows he disappointed his family, but, he says, "My kids have been great." Also, "My mom and dad have been unbelievable. They have been my rock. They are incredible, so supportive."

(His parents were in London at press time and could not be reached for comment. Raymond Orbach reportedly said recently of his son to The Orange County Register, "He did some foolish things. We hope he can get back on his feet and contribute to society. I hope people understand he's as honest as can be. He knows it's going to be tough getting his life back.")

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32 comments
crabbyme
crabbyme

Now for a update on Mr. Orbach looks like he is back in jail... for what you might  ask  well  he was Stalking once again.. Hmmmm looks like there was no lesson learned. He's in court today.. 

fixithair
fixithair

What can I do to help?  This is a program I can believe in.

pra2291
pra2291

Oooooooh Noooooo...  The reason they don't have rehab for white collar dudes, is because they have personality disorders that cannot be changed.  Genetic monsters.  Horrible for the family.  Hope and a short leash is about all you can give them, or you, when one of these guys is in your karmic circle.  I know.  My ex husband is in "camp" for a huge "Madoff-esque" explosion in 2003.  The Medici's were evil.  He might want to rethink the name.... Also, generosity, flipped over?  It's called greed.  And greed can be for anything:  money, attention, love...food, drugs, more attention. 


I wish him luck. 

jsph_bourdeau
jsph_bourdeau

This guy's nothing but a con artist , and  the Medicis were actually an  Italian Mafia family . 

Whackadoodle
Whackadoodle

Looks Shifty. Spoiled Child and he's still getting attention. Stop it. LOL

Pacific Financial Hires Criminals ??? Stay away from them too.

sandy
sandy

Not surprised that this guy admitted to animal abuse when he was young.  Being a privileged white kid probably kept him under the radar for a long time. 

tongue_twister_for_t
tongue_twister_for_t topcommenter

Once a businessman always a criminal except to the cops that are criminals themselves.

tongue_twister_for_t
tongue_twister_for_t topcommenter

Wasn't a problem for my old employer back in '09 - He took the State of California for 10.2 Million for workers comp fraud, didn't pay his employees their final paychecks and went to prison himself for the crimes of giving state guard cards to known felons in New York to guard the Statue of Liberty with on Government contracts. Turns out he was an Egyptian immigrant transplant.

His partner business manager went with him on weapons possession charges and a few other things. I lost at least $1400.00 in final pay over that one when the FBI raided the offices. Over 200 guards lost their jobs and pay. 

Rossinonte
Rossinonte

Obsessive and Compulsive. Investors beware...

1000Steps
1000Steps

Wife beating banker aids Liberal cause? And that's how quick OCWeekly flips.

TB12345
TB12345

Randy is not telling the truth, he has not talked to his children for years and if you look into public records ,you will find the truth. Also, I find it interesting that this sisters name is not given or that article does not bring up his brother. The reason is because his brother is an attorney and his sister is in public office (lawsuits?). But, he gives his children's names, although he got his sons age incorrect. His children are trying to move on with their lives they did not ask to be dragged into his public cry to get money for his business so he can once again be a millionaire .

Randy, is the same man he was before going to prison. Still trying to be something he is not, still lying, still has no relationship with his children, his ex-wife still has restraining order due to death threats, and has never said sorry to anyone he has hurt.

Randy wrote "I deserved to be in prison and take ownership" another lie sorry has never come out of his mouth. If he really wanted to help he would get a job and pay taxes. He talked about the fact he does not like where our tax dollars have gone. What? Our tax dollars went to him working up to 10,000 push-ups a day.

Randy if you don't miss the cars and the house, why you driving a BMW?

jimgilchrist
jimgilchrist

Randy Orbach is making a move in the right direction.  Instead of carrying the burden of anger after release from prison, he is carrying a torch of positive thinking and redemption.  


Good people, perhaps in the heat of passion, from time to time do things they later regret.   In Randy's case, he served five years in prison as the consequence of his actions.  His debt to society and the rule of law has been paid in full.


Randy Orbach would not be the first felon I have heard about who has followed jail time with a very successful career.  He deserves commendation, not condemnation.



Jim Gilchrist, Founder and President, The Minuteman Project

JGlanton
JGlanton topcommenter

I tried to do a good thing and hire an ex-con once.  It ended up in disaster, and a huge amount of after hours work on my part unraveling a legal mess. Never again.

mcraft
mcraft

I applaud Randy and his efforts at changing his path and the course of his, and others', lives. His foundation is a novel and necessary one.

Burqueno_By_The_Bay
Burqueno_By_The_Bay

Or you could get a real job like most people who stay out of trouble. Youŕe just not as smart as you think you are.

melobydsea
melobydsea

@crabbyme Now I am not shocked. Maybe he can get a date in jail.


melobydsea
melobydsea

@pra2291 He needs more then luck, If you get out of prison and comet the very same crime you have a mental problem.... and his poor victim she has done nothing now she has to live her life looking over her shoulder. 

TB12345
TB12345

I want to clarify something, Randy has talked to this kids text,ect. Yes, he made contact. However, no apology, no admitting any wrong doing, not even a sorry for disowning them and threatening them. They do not have the relationship Randy lied about in this article.

lucien.alacard28
lucien.alacard28

@JGlanton

I rent and have rented to two felons since 2007.

They have always paid their rent and are sex offenders on top of that.


 
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