|
|
|
|
|
 |
|
By Glenn Coin Staff writer, Staff researcher Jan Dempsey contributed to this report. |
|
November 2, 2002 |
SEC: FIRM SET FOR GRIFFISS HIGH RISK POLITICIANS CELEBRATED JOBS AT ROME AIR BASE. BUT CEO HAS HAD TROUBLES |
|
Intro: |
|
|
State and federal officials
on Thursday proclaimed a new revolution in Upstate New York when they announced
that a Georgia company would bring hundreds of jobs to the former Griffiss Air
Force Base in Rome.
What no one mentioned, however, was that the chairman of the company, Jerry Nims,
has run into repeated legal and financial troubles in New York, Georgia and Bermuda. |
|
|
|
|
|
Excerpt: |
Five years ago, Nims filed
documents with the Bermuda Stock Exchange to list NimsTec as a public company.
The exchange listing didn't last long, however.
"It was delisted in October 1997, five months after it had been
listed," said James McKirdy, listing and compliance manager for the
Bermuda Stock Exchange. "Basically there was an inadequate level of
disclosure on the prospectus."
The action came after a report in the Offshore Alert newsletter that said a
previous company run by Nims had lost money, that many of NimsTec's patents
were outdated, and that Nims had been embroiled in court cases.
Nims faces another lawsuit by an employee alleging non-payment of salary.
Stephen Keenan of New York City said in federal court documents that he was
hired by Nims as president of sales and marketing for Orasee. Keenan said he
received only half of his $110,000 annually salary and alleged that Orasee
illegally used his business plan.
Nims has filed papers asking for dismissal of the lawsuit, according to the
court record. Doeve said he had never heard of Keenan or the lawsuit.
According to the Offshore Alert, Orasee was scheduled to get $40 million from
the Belgium government last year to build a manufacturing plant there. The
plant was never built. In written comments submitted to the newsletter last
year, Doeve and another Orasee official, James Collins, said that "Orasee
was advised to withdraw ... its European involvement last year in favor of
concentrating its focus on markets in North America." |
|
|
|
|
|
|
|
For complete story
refer to original source by clicking on logo
|
| | |
