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Anonymous
Posted: Friday, August 12, 2011

Posted: 6/4/2004 12:14:42 PM

By: Slander?

Nope. Try again. Or get a real lawyer.


Internal Administrator
Posted: Friday, August 12, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 6/4/2004 10:24:25 AM

By: lawyer999

Please be advised that the postings relating to Jay Gotlieb and his brother Todd Gotlieb amount to libel and slander. We have contacted the host as well as both local and international authorities who are presently tracing the originating computers. Anyone found will be prosecuted to the full extent of the law, both criminally and civilly.


Anonymous
Posted: Friday, August 12, 2011

Posted: 6/7/2004 7:24:50 PM

By: Iknow waytoomuch


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7/06/04 English / Carte du site / À propos / Communiquer avec nous


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Dites-le à un ami




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Attention Business And Technology Editors

SBS Interactive Receives Prototype for Side by Side(TM) Set-top Box
Company to Begin Nationwide Marketing Campaign

TORONTO, May 21 /CNW/ -- SBS Interactive, Co.
(OTC Bulletin Board: SBSSE) announced today that the Company has received the
prototype model for the Side by Side(TM) set-top box. The prototype model
includes improvements aesthetically as well as enhanced functionality as
compared to its predecessor. Receipt of the prototype allows the Company to
begin full implementation of its marketing plan.
"We are excited to finally receive the prototype model and we expect to
begin to ramp up marketing activities immediately," said Todd Gotlieb, SBS's
Chief Executive Officer. "We couldn't be more pleased with the appearance or
functionality of the prototype. We have worked hard to develop the
infrastructure to support our upcoming activities. We believe that we can now
begin to make the transition from a development stage company to one that can
begin commercialization."
The Company's Side by Side(TM) technology uses a proprietary, patented
reverse "blue screen" technology to seamlessly combine virtually any kind of
pre recorded or computer generated content with the users' environment. The
environment integrates with the content via the fully automated digital camera
in the Side By Side set-top box. For optimal effect, this happens in real
time.

This press release contains forward-looking statements that are subject to
the safe harbor created by the Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the Company's actual results,
performance or achievements, or developments in its industry, to differ
materially from the anticipated results, performance or achievements expressed
or implied by such forward-looking statements. Factors that could cause actual
results to differ materially from anticipated results include risks and
uncertainties related to the performance of the Company's product, whether
agencies responsible for approving the product will require modifications to
it that may be costly or time consuming to make or will approve it at all, the
Company's ability to create a market for its product, general economic
conditions that adversely effect discretionary spending, the development of
competitive products that may perform better or be less costly than the
Company's product, and other factors over which the Company has no control.
The Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Actual results may differ materially from the Company's
expectations and estimates.





-30-
/For further information: Michael Bronstine, Director of Investor
Relations, or Todd Gotlieb, President and Chief Executive Officer, both of
SBS Interactive, Co., +1-416-223-9293/



Renseignements sur cet organisme
SBS INTERACTIVE, CO. Communiqués de presse (9)

Cours et tableaux : SBSS(OTCBB)






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Anonymous
Posted: Friday, August 12, 2011

Posted: 6/7/2004 7:22:48 PM

By: Iknowtoomuch

why would Todd Gotlieb allow hs company to be sold through known boiler room GRAVES STANLEY PEABPDY.I urge David M to look into this matter .


Anonymous
Posted: Friday, August 12, 2011

Posted: 6/7/2004 3:33:55 PM

By: shameonyou

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17-Mar-04 Not Reported

COOKE, PATTI L.
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29-Oct-02 250,000
29-Oct-02
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Anonymous
Posted: Friday, August 12, 2011

Posted: 6/7/2004 3:04:42 PM

By: shameonyou


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CURRENT ISSUE








Toxic... do not touch

Had any dealings with a firm called Graves, Stanley & Peabody? Be afraid…be very afraid

Is it possible to catch companies and individuals that partake in boiler-room activities and is there any hope of getting one’s cash back once these rogues have siphoned it into their own accounts?

This month, a reader based in Austria informed us that a company called Graves, Stanley & Peabody (what has this column said in warning about firms with posh-sounding names?) encouraged him to invest in a company called SBS Interactive, an over-the-counter share in North America.

When the company’s share price fell dramatically, our reader – like many other investors, it would appear – sought a) to ascertain why his stop loss order hadn’t been executed, and subsequently b) why he couldn’t sell the remainder of his shareholding.

Like many other investors, our reader called dozens of times, wrote letters and has thus far failed to achieve satisfaction.

Worse, by typing the words ‘Graves Stanley Peabody Warning’ into the Google internet search engine, one finds warnings from regulators in Malta and South Africa about the company. The Financial Services Authority in the Isle of Man has also recently warned against GSP.

Calls to GSP go through to a messaging service and the messaging service informs us that all it does is send emails to the address on the GSP website (www.gsp-international.com).

The messaging service company confirmed there was ‘no way at all’ it could identify the names of the people behind GSP. When pushed, the woman who answered the phone said the only person in the company who might be able to identify GSP’s beneficial owners was on holiday!
If GSP’s messaging service cannot identify the people behind GSP, then this would raise some rather interesting questions about the Know Your Customer procedures within some UK companies.

Should such companies be forced to have better customer identification systems in place, otherwise, don’t they risk allowing dubious individuals to hide behind false identities?.

Theoretically, this could even have investment and money laundering implications too, there is little to stop people setting up such a company, claiming completely false revenues that were, in fact, from illicit sources.

Anyway, we digress. Once we were aware of these regulatory warnings, we left a message and sent an email asking GSP if it was perpetrating the scams as alleged.

We also saw a letter from GSP to its clients telling them that the company would be wound up by December 2003, even suggesting that it might be telling clients to hand over more money if their accounts were in debit!

The letter was sent from the Bahamas. After a little research, we realised that the Bahamas securities regulator has also issued a warning (see http://www.scb.gov.bs/notices_public12003.htm). So if you are a client of GSP and you receive a letter asking you to follow its banking instructions, forward those instructions to the police with an full explanation of what has happened. Hand over no more money, do not follow banking instructions, do not hand over banking details in order to receive funds.

The situation appears hopeless, but there is an outside chance of redress. At http://mymoney.iafrica.com/scamwatch/forum/255397.htm, a visitor claims to have blocked GSP accounts in Luxembourg and be in the throes of legal proceedings which will hopefully bear fruit.

For all those readers who object to the concept of Know Your Customer bureaucracy in reputable international financial centres, this is perhaps a good example of why such laws are in place.

By identifying the beneficial owners of bank assets, it makes it more and more difficult for criminals to move money around. And, of course, by creating a clear line between decent and indecent banks, criminals must use the latter – whereupon they risk being ripped off themselves.

The trouble is that centres like London, with its huge backlog of money laundering cases, are creating an easy means for criminals to clean up the money that they make.

Furthermore, it is another fine example of the UK’s pitiful, humiliating, embarrassing and pathetic attempts to regulate international financial services that are offered from within its borders.

Much of the FSA’s website deals with the protection of UK investors, much less is concerned with protecting either British expatriates or international investors. In short, be very, very careful when dealing with unknown British companies or companies operating internationally from UK addresses. There is a very high chance that they are out to defraud you.

We would very much like to follow this article up by finding out whether the action group was successful. There are many boiler room victims internationally and it would be great to see one stopped.

Finally, it is worth pointing out that the reader says GSP advertised in Investment International.









ADVICE TO READERS
While this website is checked for accuracy, we are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions.


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The Pinsent Company Guide
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Anonymous
Posted: Friday, August 12, 2011

Posted: 6/7/2004 2:32:32 PM

By: shameonyou

Im sure the international authorities would love to read those posting.Inerpol is the best place to start as they already now .Isn't sbss now sbsse at .40?


Anonymous
Posted: Friday, August 12, 2011

Posted: 6/4/2004 3:09:13 PM

By: glengowrie

I have not read the postings, yet, but let us get one thing straight, freedom of the press is at work here, the real right to expression, unlike the scammers, who think a scam is a freedom of expression, as for tracing anyone, haha, you are a stupid liar, and lawyer and both or more.


Anonymous
Posted: Friday, August 12, 2011

Posted: 6/12/2004 8:13:23 AM

By: Graves Stanley Peabody

Crimes of Persuasion
Schemes, Scams, Frauds
FAQ Search Memberlist Usergroups Register
Profile Log in to check your private messages Log in


Graves, Stanley & Peabody
Goto page 1, 2 Next

Crimes of Persuasion Forum Index -> Boiler Room Offers
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Author Message
crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 11:46 am Post subject: Graves, Stanley & Peabody

--------------------------------------------------------------------------------

This section will cover this operation starting with.


I have been searching the Net for information about Graves, Stanley &
Peabody Limited. On your website I have found a warning for GSP.
I have undertaken several investments with GSP over a period of about a year.

As I wanted to liquidate my last investment in the stock SBSS I got
no call back from any broker.
This was three months ago. Since then I am calling the GSP messaging
service every week, which is the only way to contact them. The only answer

I get is that a broker is going to call me back, which does not happen.
I am not the only one, who got conned by GSP. Several other victims all
around the world are trying to get some justice or even their money back.

I would be great if your organisation can give us some information about
GSP and tell us what our possibilities are.
Thank you very much for your help.

Sincerely,

Sven Bedbur
Mainz, Germany
sbedburles@hotmail.com

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 11:55 am Post subject: Blurb from site www.gsp-international.com

--------------------------------------------------------------------------------

Many years ago, we observed a very simple reality. Investment funds, mutual funds, unit trusts and the vast "managed funds" offerings of the investment community, were surprisingly and consistently under-performing the market averages and indices.

At GSP, we are strongly committed to the premise that the individual investor can manage his funds with greater efficiency and effect. Our objective is to assist the individual in the management of his own funds by providing timely research, advice and execution.

We look forward to assisting you in the development of your portfolio and helping you achieve your financial goals.

Our goal is to create an environment where your investments can flourish and you can develop a long-term financial plan, secure in the knowledge that that you have a fiscal partner who will investigate, counsel and execute your portfolio movements.

Over time, we aim to build a strong foundation of confidence, trust and discretion that will allow you to feel comfortable and assured in your personal financial future.

Of course this type of relationship will take time to mature. Please feel welcome. We are pleased to receive your comments and inquiries.

Over the last few decades, the field of financial services has enjoyed phenomenal growth. More and more individuals are taking an active role in their own financial futures.

Naturally, and as a result, there are literally thousands of financial offers abounding. Experts, consultants and advisors also abound. It seems that dozens of conflicting expert opinions exist on every subject, and quite often circumstances and events will confound this multitude of expert opinions.

Our view is quite simple. We have complete faith in the ability of the average investor to determine his or her objectives and goals, make difficult decisions and calculate the risk-reward ratios. This ultimate faith is not based on philosophical arguments, but years of experience and observation. It is our belief, that there has been a tendency over the years to complicate and to confuse, to obscure and to cloud, to such an extent that many simply give up, and put their affairs into the hands of "experts" to "manage" their funds.

Our opinion on "managers" is also quite simple. What is the point of paying professional money managers extravagant fees to generally under-perform the markets? What is the point in releasing control of this vital component of your future? If one really doesn't have the time to follow, analyze and predict, why not at least retain veto power over your own destiny?

Therefore, Graves, Stanley & Peabody's mandate is simple. Our mission is to provide a support role in the process - to provide research, advice and execution. We will provide a support role to any degree or level required, but we will not manage your funds, as we believe that nobody can do that job better than you can.

As a company without a product as such, we have to be in absolute top form when it comes to service. From our research facilities to our timely execution of customer orders, from the smile on the face of our telephone receptionists to our administration of fine detail, every step along the way, we must be in top form. With so much competition for your brokerage business we must supply flawless service.

At GSP we are always monitoring developments and trends in the financial markets. Twenty-four hours a day our analysts are constantly reviewing and updating their positions and assessments. As part of our service we are happy to investigate and comment, research and advise.

Our account executives have been carefully selected from an elite group of investment professionals, trained in the latest techniques and conditioned with the art of customer service.

We look to help you develop a clear set of investment goals and objectives, target the appropriate financial products to achieve that goal and are committed to the concept of hard work and devotion to duty.

Our primary objective is to preserve and expand your personal wealth through investment in well-researched and solid financial products. We believe in the long-term approach to investing. Over time investing in quality equity based vehicles has been proven to easily outperform more conservative fixed rate investments, and perhaps at no time more so than the present.

We also understand that we are entrusted with the most sensitive and private of all matters - personal financial information. There are many considerations, from estate planning to family matters; from taxation to political concerns. Not only do we pledge our cooperation in the protection of your personal information, but also we will try to tailor our reporting and administration to your particular needs.

In conclusion, we have the utmost faith and confidence in the human spirit. There is virtually nothing beyond our reach given the appropriate tools and knowledge.

At GSP we simply look to identify the standards, practices and rules of the game, advise on their pitfalls and frailties, and let our well-armed customer make the appropriate decision for his circumstances and objectives.

It isn't complicated; in fact, most people will instinctively make the right choice. Most people will excel, when given the proper environment in which to flourish.

And that is what we strive to provide - fertile ground - in which good ideas when planted, can mature and provide the requisite financial benefits and blessings. This is not a dream, just our basic formula for successful "Portfolio Investing for the Individual".

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 11:56 am Post subject: Another blurb on their offshore services.

--------------------------------------------------------------------------------

Individuals and corporations "go offshore" (place assets outside of their home countries) for three simple reasons: privacy, protection from creditors and regulatory advantages.

Privacy

Financial privacy has become a thing of the past. Every transaction made at a bank or ATM, by law, must be recorded and filed. Credit agencies maintain enormous databases of sensitive information that is used and shared by other organizations and agencies. Asset collectors routinely advertise their ability to locate bank accounts, brokerage accounts, and real estate and business holdings. Should asset collectors find substantial wealth, the individual or corporation becomes an easy target for a lawsuit.

Unless deliberate steps are taken to insure privacy, sensitive and confidential information could easily get into the wrong hands. Placing bank and brokerage accounts offshore will keep them off the asset collector's radar screen. Credit agencies and government agencies don't have access to foreign account records or transactions. Domestic property may be titled in the name of a foreign corporation or trust. This insures that asset collectors can't find it. By taking advantage of these methods an individual or corporation becomes a smaller target and the likelihood of being sued is reduced. Utilizing offshore tools to protect privacy could mean the difference between keeping and losing what is rightfully yours.

Protection From Lawsuits

Tens of thousands of lawsuits are filed every week. Juries award ever-increasing sums to successful plaintiffs. Ex-spouses, ex-business partners, disgruntled employees or predatory attorneys may file suit if they believe a potential defendant is an attractive target. Losing such a lawsuit could cause a lifetime's worth of savings, investments and real estate holdings to be lost. In light of this, placing assets offshore is a wise and effective means of protection from ruinous lawsuits.

Once assets are sent offshore they are unreachable by domestic courts. In the event of a lawsuit, a defendant may be forced to forfeit domestic assets, but offshore assets will remain untouched. Offshore courts do not recognize or carry out domestic judgments. This insures that assets sent offshore will remain confidential, secure, and permanently in the hands of their rightful owners. Moving assets offshore will create peace of mind that what's yours will always be yours.

Regulatory Advantages

Domestic businesses and operations are often plagued by excessive regulation. Valuable resources are diverted away from the productive process in order to monitor compliance with a myriad of restrictions. Curing this problem is as simple as moving to friendlier shores. Offshore jurisdictions are intentionally business-friendly and have regulations that are straightforward, simple to understand and inexpensive to comply with. Moving a business offshore and enjoying a more pleasant business climate may require nothing more than forming an offshore corporation and transferring assets from the domestic corporation to the foreign one.

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 11:58 am Post subject: Forum post - other site

--------------------------------------------------------------------------------

Posted by colin jones on july 21, 2003 at 20:12

I have bought quite a few shares over aperiod of time in a co. recommended by GSP called Side by Side Interactive Co.(SBSS). I am now pretty sure that I have been conned, as after rising steadily to$5 "as planned" the share has now crashed back to $3 and guess what, I can't get anyone to answer the phone.

I paid money to buy the shares into a Spanish Bank Account, but I doubt that the shares were ever bought.How can I find out?Could I try and block their Bank Account?

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 11:59 am Post subject: Organize efforts

--------------------------------------------------------------------------------

georg liebig on july 28, 2003 at 13:55

Please get in touch by email to coordinate actions.Open forum only helps gsp. You can reach me by rkuliebigles@hotmail.com

also Peter Kraft - pkraftles@yahoo.com und eine cc an
gsp-victimsles@skynet.be

Peter Sandmair - sandmairles@gmx.at

I, too, have been conned, although I HAVE had contact with David Andrews on a regular basis. I have now received a letter from GSP that they have closed down, and have received a Share cetificate. Wow, they actually bought shares for me!!

Please be in touch with me. Perhaps together we can do something.

galanskyles@bezeqint.net

Last edited by crimes-o on Wed Sep 24, 2003 12:20 pm; edited 1 time in total

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:04 pm Post subject: Regulatory warnings

--------------------------------------------------------------------------------

If you have recently been approached by Graves, Stanley and Peabody Limited (GSP), located in Gibraltar, to invest money in a speculative opportunity that would yield promising returns, you have most probably been conned.

Gerry Anderson, deputy executive officer of Market Conduct and Consumer Education at the Financial Services Board (FSB), says investors are warned that GSP is not conducting legitimate business.

“After receiving a complaint from a South African investor, the FSB established that GSP was not registered with the Financial Services Commission, the regulatory authority in Gibraltar, who has received several complaints from more than one country regarding GSP,” Anderson said.

Furthermore, the Gibraltar business address supplied by GSP is not occupied by GSP.

Make sure the investment manager is registered with the FSB. Go to the FSB website www.fsb.co.za then click on departments, choose financial markets then look at the ‘list of approved investment managers to market its business in South Africa.’ If the entity’s name does not appear, don’t do any business with it.

Meanwhile the Isle of Man’s Financial Supervision Commission has issued the following:

“The Commission has recently become aware of the activities of Graves, Stanley and Peabody Limited which claims on its website to have some link to the Isle of Man.

“This entity is not, nor ever has been licensed by the Commission to undertake any form of regulated business in, on or from the Isle of Man. The Commission has established no genuine links between this entity and the Isle of Man.

“Entities with this name have previously been the subject of public warnings by the New Zealand Securities Commission. See:

http://www.sec-com.govt.nz/invest/overseas_brokers.shtml

and by the Netherlands Autoriteit Financiele Markten. See:

http://www.afm.nl/getcontent.cpe?sid=6D00ACFF-6AA3-404B-A561-AB0F5B027BA7&TopicID=266

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:06 pm Post subject: Bahamas warning

--------------------------------------------------------------------------------

SECURITIES COMMISSION OF THE BAHAMAS

PUBLIC NOTICE No. 1 of 2003 April 14th, 2003

Re: LAVERTY ASSETS LTD GRAVES STANLEY & PEABODY LIMITED (also known as GSP LIMITED)

It has been brought to the attention of the Securities Commission of The Bahamas that the above named companies may be involved in the sale or distribution of securities from this jurisdiction.

The public is advised that Laverty Assets Ltd. and Graves Stanley & Peabody Limited are not registrants of the Securities Commission, nor are they applicants for registration. If any of these companies are involved in dealing, trading, buying, selling, providing securities investment advice or portfolio management in this jurisdiction, they may potentially be in breach of the Securities Industry Act, 1999. Therefore, persons desirous of conducting securities transactions with these companies are urged to conduct proper and sufficient due diligence before carrying out such transactions.

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:09 pm Post subject: Netherlands warning

--------------------------------------------------------------------------------

STE warns investors against using the securities brokers Graves, Stanley & Peabody and Liberty.

These unlicensed securities brokers are aggressively cold calling investors offering securities services.

The Supervisory Board of the Netherlands (Stichting Toezicht Effectenverkeer / STE) is warning investors against offers of securities services by the following two securities institutions:
Graves, Stanley & Peabody Limited (GSP) established in the Bahamas
Liberty Capital International Limited (LIBERTY) established in Antigua

It has come to the attention of the STE that these institutions are offering securities services in the Netherlands without having a licence for such activities from the STE, as required by law. GSP and LIBERTY are also aggressively cold calling investors by telephone offering securities services. This represents a breach by GSP and LIBERTY of the Act on the Supervision of the Securities Trade (Wet toezicht effectenverkeer 1995 / Wte 1995).

The STE has received a number of complaints and reports from investors regarding GSP and LIBERTY. In the STE’s opinion, investors have been repeatedly and aggressively approached with the request to invest via the institutions referred to. The Belgian banking and financial supervisory authority (Commissie voor het Bank- en Financiewezen) has also warned the public about Liberty because it has been offering financial services without the required licences.

Liberty has not responded to written warnings by the STE and the response of GSP has not given grounds for the STE to decide against issuing a public warning.

In the light of these breaches, the STE advises the investing public against conducting business with these parties.

The STE’s advice to investors is to find out from the STE whether an institution has a licence to offer securities services in the Netherlands or whether it is covered by an exemption before using the services of that securities institution or offeror of securities. The telephone number of the Supervisory Line of the STE is: 0900 540 0540. The register of licensed institutions (the Wte register) can also be consulted on this website.

Pursuant to the Wte 1995, the STE supervises securities institutions and offerors of securities. The act lays down the requirements that have to be satisfied by securities institutions and offerors of securities. (1) The aim of the STE in this is to protect investors against buyers of capital, against intermediaries and against other investors. In addition, it is the role of the STE to ensure that the market operates fairly, transparently and efficiently.

(1) The Further Regulations on the Supervision of the Securities Trade (Nadere regeling toezicht effectenverkeer) lay down the following provisions regarding cold calling: A securities institution may only approach a third party, with whom the securities institution has not yet entered into a securities transaction or who is not a client of the securities institution in any other connection, by telephone or in person, if this party has expressly given his prior written agreement to such an approach.

For further information, please contact:
Werner van Bastelaar +31 (0)20 553 55 41
Berber Kroon +31 (0)20 553 55 73

14 June 01 09:16

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:11 pm Post subject: Malta Warning

--------------------------------------------------------------------------------

The Malta Financial Services Authority (MFSA) warns the public against the activities of the
company GRAVES, STANLEY & PEABODY LIMITED (GSP) which appears to have an
office at: East Hill Street, P.O. Box N-10214, Nassau Bahamas. The company also purports
to have other offices in Belize, British Virgin Islands, Vanuatu, Switzerland and the Isle of
Man.

It appears that GSP is approaching Maltese consumers to invest money in what would appear
to be speculative securities without the necessary authorisation. GSP is also circulating a
newsletter entitled “The Trendsetter”.

MFSA hereby informs the public that GSP does not have the appropriate authorisation to
provide any type of financial services activities in Malta.
Similar notices about GSP have also been issued by the New Zealand Securities Commission,
the Isle of Man’s Financial Supervision Commission and the Netherlands Authority for the
Financial Markets.

The MFSA would like to take this opportunity to remind investors not to enter into any
financial services transaction unless they have ascertained that the entity with whom the
transaction is being made holds a licence to provide such services from the MFSA or other
reputable financial services regulator. A list of entities licensed by the MFSA is available from
www.mfsa.com.mt.

Persons who have been contacted by GRAVES, STANLEY & PEABODY or wish to obtain
additional information about the regularity of any transaction proposed, are invited to contact
the MFSA’s Consumer Complaints Manager (telephone: 800 749 24, e mail address:
consumerinfo@mfsa.com.mt).

13 June 2003

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:14 pm Post subject: New Zealand notes

--------------------------------------------------------------------------------

Graves Stanley & Peabody Limited
(latest activities are thought to be based in Spain)
Associated individual: Richard Gaston

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:18 pm Post subject: Victim states name

--------------------------------------------------------------------------------

Same here, have been trying to call my contact, David Andrews who is based in NY, no response for 2 months.

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:25 pm Post subject: Domain info

--------------------------------------------------------------------------------

Graves Stanley & Peabody Ltd.
50 Burnhill Road
Beckenham, London BR3 3LA
UK

Domain Name: GSP-INTERNATIONAL.COM

Administrative Contact -
Rick Waters - rick@webcast1.com
Webcast1, Inc.
123 N.W. 13th Street Suite 215
Boca Raton, Florida 33432
US
Phone - 561-392-2202
Fax - 561-391-7775

Technical Contact -
Rick Waters - rick@webcast1.com
Webcast1, Inc.
123 N.W. 13th Street Suite 215
Boca Raton, Florida 33432
US
Phone - 561-392-2202
Fax - 561-391-7775

Record update date - 2003-05-05 10:45:10
Record create date - 2001-04-19
Record will expire on - 2004-04-19
Database last updated on - 2003-09-24 12:23:49 EST

Domain servers in listed order:

NS1.ARMIGERON.COM 204.29.162.2
NS2.ARMIGERON.COM 204.29.162.3

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:28 pm Post subject: Webcast1.com domain info

--------------------------------------------------------------------------------

Registration Service Provided By: RegisterFly.com
Contact: support@RegisterFly.com
Visit: http://www.RegisterFly.com

Domain name: WEBCAST1.COM

Name servers:
NS1.ARMIGERON.COM
NS2.ARMIGERON.COM

Creation date: 1996-03-29 00:00:00
Expiration date: 2004-03-30 00:00:00

Registrant Contact:
NA
Webcast Inc (NA)
NA
123 NW 13th Street #225
Boca Raton, FL 33432
Boca Raton, FL 33432
US

Administrative Contact:
NA
Webcast Inc (NA)
NA
123 NW 13th Street #225
Boca Raton, FL 33432
Boca Raton, FL 33432
US

Billing Contact:
NA
Webcast Inc (NA)
NA
123 NW 13th Street #225
Boca Raton, FL 33432
Boca Raton, FL 33432
US

Technical Contact:
Webcast 1, Inc
Rick Waters (domains@WEBCAST1.COM)
561 392 2202
129 NW 13th Street, Bldg. D-27
Boca Raton, FL 33432
US

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Wed Sep 24, 2003 12:30 pm Post subject: Armigeron domain info

--------------------------------------------------------------------------------

Does not appear to be connected accept as service provider.

Registrant:
Armigeron Information Services, Inc. (ARMIGERON-DOM)
466 Hardwood Place
Boca Raton, FL 33431
US

Domain Name: ARMIGERON.COM

Administrative Contact, Technical Contact:
Wheelus, Chuck (CW393) chuck@ARMIGERON.COM
Armigeron Information Services, Inc.
400 PRAIRIE ROSE LN
BOCA RATON, FL 33487-1406
US
(561)395-6655 fax: (561)447-9467

Record expires on 28-Jul-2005.
Record created on 10-May-2002.
Database last updated on 24-Sep-2003 12:28:51 EDT.

Domain servers in listed order:

NS1.ARMIGERON.COM 204.29.162.2
NS2.ARMIGERON.COM 204.29.162.3

==============
OrgName: Armigeron Information Services, Inc.
OrgID: AIS-49
Address: 6401 Congress Avenue
Address: Suite 245
City: Boca Raton
StateProv: FL
PostalCode: 33487
Country: US

ASNumber: 6636
ASName: ARMIGERON
ASHandle: AS6636
Comment:
RegDate: 1996-06-11
Updated: 1996-06-11

TechHandle: CW393-ARIN
TechName: Wheelus, Charles
TechPhone: +1-561-395-6655
TechEmail: chuck@armigeron.com

OrgAbuseHandle: CW393-ARIN
OrgAbuseName: Wheelus, Charles
OrgAbusePhone: +1-561-395-6655
OrgAbuseEmail: chuck@armigeron.com

OrgNOCHandle: CW393-ARIN
OrgNOCName: Wheelus, Charles
OrgNOCPhone: +1-561-395-6655
OrgNOCEmail: chuck@armigeron.com

OrgTechHandle: CW393-ARIN
OrgTechName: Wheelus, Charles
OrgTechPhone: +1-561-395-6655
OrgTechEmail: chuck@armigeron.com

=================

New kid on the block is seventh-ranked Atlantic Internet Inc., a privately held Boca Raton company providing regional Internet services and a full-service menu of related B2B services. In 1997 the company won the a Small Business of the Year Award from The Business Journal.

The accent at Atlantic is on high-performance products and services for its customers' mission-critical e-commerce and Internet business strategies.

Geographically, customers range from Jupiter to Key West, but that will expand soon.

Products offered include eseek.com, a portal that allows searches of several databases simultaneously; 5-star Internet Marketing, a software package with the ability to determine patterns and measure the effectiveness of Web sites; and DSL Data Technologies, a partnership with KEXA Inc., operating as a buying syndicate to resell BellSouth services at a profit. Additional services include Web hosting, systems integration, and management of systems and networks.

High-speed Internet access is provided through five T-3 lines from Internet backbone providers such as UUNET, Sprint, Qwest and AT&T. All T-3s are connected through a BellSouth high-capacity SONET ring. The ring is designed to function even if damaged or cut. The result is a redundant, fiber-optic, fault-tolerant, high-capacity 24/7 network.

Charles Wheelus is Atlantic Internet president and CEO. He was formerly a staff engineer at Siemens/Stromberg-Carlson before founding Matrix Galleria, which he later sold to Visual Data Corp. in November 1997.

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crimes-o
Site Admin


Joined: 28 May 2003
Posts: 703

Posted: Fri Sep 26, 2003 3:30 pm Post subject: All roads lead to Florida

--------------------------------------------------------------------------------

But here's who else uses that host.

Domain Name: healthproducts.net

Registrant: Ultralab Nutrition, Inc. 7491 N. Federal Hwy. #C5-148 Boca Raton, FL 33487 US 561-367-1474 Fax:561-367-1707

Domain Name: HEALTHPRODUCTS.NET

Administrative Contact: Altieri, Anthony ultralab@aol.com
7491 N. Federal Hwy. #C5-148 Boca Raton, FL 33487 US
561-367-1474 Fax:561-367-1707

Technical Contact: Altieri, Anthony ultralab@aol.com
7491 N. Federal Hwy. #C5-148 Boca Raton, FL 33487 US
561-367-1474 Fax:561-367-1707

Record last updated 08-13-2003 02:06:25 PM
Record expires on 08-27-2004
Record created on 08-28-1998

Domain servers in listed order:
NS1.ARMIGERON.COM 204.29.162.2
NS2.ARMIGERON.COM 204.29.162.3

And darned if that isn't the address, less the -148 for Foreign Currency International.

Then again, it may be a different address in a mall and totally unrelated. They also have this address.

3100 NW Boca Raton Blvd
Boca Raton, FL 33431
Main Phone: 561-367-1474

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Anonymous
Posted: Friday, August 12, 2011

Posted: 6/9/2004 7:14:06 AM

By: Barry Alter



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SI: StockTalk: Coffee Shop : Investment Chat Board Lawsuits
Replies: 6102
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To:Jeffrey S. Mitchell who started this subject
From: bully Friday, Mar 14, 2003 9:26 PM
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Stockwatch News Item
Stockgroup Information Systems Inc (C-SWB) - Street Wire
SEC probes HiEnergy amid Gurian connections
Stockgroup Information Systems Inc SWB
Shares issued 19,552,596 Mar 4 2003 close $ 0.43
Friday March 14 2003 Street Wire
See Securities and Exchange Commission (U-*SEC) Street Wire
by Brent Mudry

HiEnergy Technologies Inc., a California-based penny stock promotion, revealed Friday that it is under investigation by the U.S. Securities and Exchange Commission amid media reports linking the company to notorious Mafia-linked promoter Phil Gurian. On of HiEnergy's vigorous Vancouver touts, Jeff Berwick, is a Howe Street mover and shaker and the founder and chief executive officer of Stockhouse Media Corp., a Vancouver-based financial site now controlled by Stockgroup Information Systems Inc. Stockgroup has been a Howe Street favourite for several years, recently attracting new financial supporters after taking over Mr. Berwick's StockHouse and putting him on the Stockgroup board.
In the U.S., far from Vancouver, Mr. Gurian and his close associate Phil Abramo, a capo in New York's DeCavalcante family, are best known as the stars of The Mob on Wall Street, a 1996 cover feature by Business Week reporter Gary Weiss. In Canada, the pair are best known as clients of several Canadian brokerages, notably Pacific International Securities in Vancouver, through secretive offshore nominee accounts in the Bahamas.
In a Form 8-K filing Friday, HiEnergy confirms the SEC investigation and the board resignations of former president Barry Alter, of Toronto, and securities violator Gregory Gilbert, both at the request of chairman Bodgan Malich. On Tuesday, the company also confirmed the resignation of president and chief executive officer Tom Pascoe, and the fact that another director, Richard Alden, has been dead for some time now.
"The Enforcement Division of the Securities and Exchange Commission has opened an investigation requesting HiEnergy's cooperation on a voluntary basis. HiEnergy has supplied the Enforcement Division attorneys with the reports developed by our independent investigators," states HiEnergy in its Friday filing.
"HiEnergy intends to cooperate with the Enforcement Division's investigation and has agreed to voluntarily provide the Enforcement Division with other documents they have requested. At this time the Enforcement Division attorneys have not indicated whether they intend to recommend action against the company or any of its officers or directors."
This unhappy situation is untimely for Mr. Berwick, the chief editor of Paradigm Trader, a Stockhouse in-house tout feature, who has been touting HiEnergy since at least November.
"On January 31 I took the time to travel to Irvine, California, to visit with Tom Pascoe, CEO of HiEnergy Technologies. I am very glad to have visited as meeting the people of the company and hearing their story in person is always more enlightening than reading press releases and information on their Web site," stated a Feb. 7 StockHouse report, entitled "Jeff Berwick's Paradigm Trader: On Hiatus with HIET."
"I came away from the meeting believing that this $2 stock has the potential to go to $100+. I also felt that this stock could also go from $2 to $0.10 in less than a year if a number of variables were to occur," stated Mr. Berwick, covering both bases in one breath. (All figures are in U.S. dollars.)
So far, the 10-cent call is the closer of the two. HiEnergy shares, which briefly peaked at $3.15 in mid-December, began collapsing in mid-February, and bottomed out at 55 cents on Wednesday. The stock fell 10 cents to close at 64 cents on Friday.
Without giving details, Mr. Berwick notes that a "significant portion" of his personal speculative portfolio is in HiEnergy shares. In a Feb. 24 registration statement, HiEnergy hopes to clear eight million shares for resale to the general public. This includes 44,500 shares owned by Mr. Berwick, apparently purchased in a lower priced financing.
Part of Mr. Berwick's optimism is based on his hopes for HiEnergy's public relations campaign. "I am familiar with the group they are using for their PR and they are very, very good at getting attention for companies like HiEnergy. It is my belief that they will be making a lot of (sic) over the coming months and I would expect HiEnergy to get a fair share of media attention," he states.
Although not identified by the StockHouse tout, a company in Toronto, called Primoris Group Ltd., handles HiEnergy's investor and public relations, according to the penny stock promotion's press releases. Securities filings show Primoris was granted options on 400,000 HiEnergy shares at $2, the biggest such grant to any promotional group, while Joseph Carusone is president of Primoris.
Mr. Carusone and Mr. Berwick are colleagues. In 1999, Mr. Carusone was appointed to head StockHouse.ca, a core StockHouse unit based in Toronto, and given the title of executive vice-president of operations.
There is no suggestion that Mr. Berwick, Mr. Carusone, StockHouse, Paradigm Trader or Primoris have done anything wrong or that any of their HiEnergy activities are part of the investigation by the SEC.
The HiEnergy story began to crumble when an avid market follower began sniffing around another controversial penny stock promotion, Medi-Hut Co. Inc., in January, prompting the company to issue a Feb. 7 press release distancing itself from bogus analyst Christopher Cosme Tavares of Metro Trading, a tiny Florida brokerage, the author of an upbeat research report.
Dow Jones penny stock reporter Carol Redmond broke the HiEnergy story on Feb. 21, revealing that the company's former market maker, Metro Trading, was linked to Mr. Gurian, as a number of its employees previously worked at Sovereign Equity Management, the brokerage he secretly controlled in the Mob on Wall Street case.
With a little digging, a gold mine of news was soon discovered. Ms. Redmond had a heck of a time tracking down Rheal Cote, a key figure in HiEnergy's reverse takeover of SLW Enterprises Inc. His stated address, however, happens to be a condominium owned by Mr. Gurian's mother, Jeannie Gurian. Another significant shareholder of SLW was Benil Finance Ltd., based in the Bahamian law office of Obafemi Pindling, the favourite offshore front of Mr. Gurian and Mr. Abramo.
Metro Trading's two principals are Mr. Tavares and Greg Vittor, according to Florida state records. Mr. Vittor happens to be the younger brother of Glen Vittor, who fronted for Mr. Gurian as Sovereign's owner and who was indicted along with Mr. Gurian and Mr. Abramo in 1999.
In September, 2001, the SEC banned Glen Vittor for his key role in the 1992-93 fraudulent promotion of Howe Street promoter Larry Nesis's Technigen Corp. Mr. Vittor was credited as a primary player in Technigen, through Sovereign Equity. Technigen, one of the more scandalous but well-protected promotions on the former Vancouver Stock Exchange in the late 1980s, was delisted from the VSE in mid-1989 and continued trading on Nasdaq.
In one of the serendipities of the penny-stock world, Vancouver stock investigator Adrian du Plessis, whose investigation into Technigen in 1987 blew up the company into a first-rate scandal despite vigorous denials by the VSE, emerged a decade later to blow up YBM Magnex International just before the feds raided the Russian mob play. Mr. du Plessis's YBM probe, which earned him coverage in Newsweek magazine, was sparked by the appearance of Vancouver promoter Michael Schmidt, a former Technigen tout on the VSE, on YBM's board.
Mr. Vittor's alleged boss, Mr. Gurian, and Mr. Abramo, emerged as players four years ago in the Mafia's then-highest-profile incursion on Howe Street. In February, 1999, Stockwatch revealed the regulatory probe of former Pacific International Securities Calgary branch manager Jean-Claude Hauchecorne, who handled related offshore accounts of Mr. Gurian, Mr. Abramo and Eric Wynn, who frequently made collect calls to the P.I. broker while in jail for stock fraud and tax evasion.
The risk-loving Mr. Hauchecorne was subsequently banned for life by the former VSE, which over the years had grown more particular about its image abroad. Howe Street brokerage Pacific International is now in the midst of a hearing by the British Columbia Securities, which claims it serviced too many crooks, securities violators and other riff-raff.
SEC enforcement director Richard Walker highlighted the Vittor case, and a number of other Mafia stock cases, in a Sept. 13, 2000, speech to the House Subcommittee on Finance and Hazardous Materials, Committee on Commerce, addressing the involvement of organized crime on Wall Street and the commission's efforts to root it out. "On April 23, 1998, the commission sued Sovereign Equity Management Corp. and its president Glen T. Vittor for a scheme to manipulate the market price of two microcap companies, Technigen Corp. and TV Communications Network, Inc. Five days later, Vittor was separately charged by the SEC for his role in another microcap manipulation. The Business Week Article reported that Sovereign was controlled by organized crime," Mr. Walker told the committee.
"The commission will continue to implement a vigilant program to safeguard the microcap securities market from involvement by organized crime or anyone else aiming to commit fraud. We will also continue to work closely with the Justice Department to make certain that every instance of organized crime on Wall Street is prosecuted criminally."
In a rare extensive media interview, Mr. Gurian recently described his involvement with HiEnergy. In a March 10 article in WorldNetDaily.com, the penny stock mobster told Florida reporter Sherrie Gossett that he had nothing to do with HiEnergy, the Mafia or money laundering, one of many charges he faces in the 1999 indictment, the case relating to his dealings with Pacific International's Mr. Hauchecorne.
Mr. Gurian claims his only connection to the HiEnergy is that its recently-departed CEO Mr. Alter, of Toronto, was a golfing friend he met many years ago in Florida. Mr. Gurian also admitted giving "contacts" to Mr. Alter, which Mr. Alter confirmed to Ms. Gossett.
Mr. Berwick, the Vancouver StockHouse tout, has put his best spin on things, and tried to discredit the original Dow Jones article by Mr. Redmond. "The article is mainly innuendo that some unsavoury people may have had some involvement with the shell that HIET went public through and with some small-time brokerage in Florida which apparently gave a buy rating on HIET," stated Mr. Berwick in a Feb. 24 report.
"If you look into all the previous owners of any OTC shells and all the people who are associated with small town brokerages, you will uncover lots of greasy people. This doesn't overly concern me."
Mr. Berwick also tried to reassure his nervous readers by stressing that while the Dow Jones article looked negative at first glance, he had few concerns. "After reading the column more carefully, I realized that there is a lot of bluster that is over-the-top negative and worded in a way to derive fear from a number of tidbits of information that may or may not have had anything to do with HIET," he stated.
Alas, HiEnergy's troubles are hardly just in the distant past, as indicated by the broad boardroom purge in the past week.
Besides Mr. Alter's relationship with Mr. Gurian, which is not disclosed in regulatory filings, another surprise arrived with Mr. Gilbert, who also was asked to quit as a director. Mr. Gilbert was fined $100,000 by the SEC in 1999 and banned from future securities violations, a distressing fact HiEnergy first disclosed to shareholders on Tuesday. The company also noted that Mr. Gilbert forgot to say that the SEC previously targeted Hamilton Biophile, a company he served as chief executive officer.
The case in which Mr. Gilbert was fined $100,000 indirectly featured Barclay Davis, a Las Vegas penny stock promoter earlier described by the SEC as a "serial stock manipulator." In the serendipity of Howe Street, Mr. Davis, like Mr. Gurian, was a notable bad boy client of Vancouver brokerage Pacific International.
Mr. Gilbert, Loretta Davis, the wife of the promoter, and two other members of the Davis family, were charged with manipulating three penny stock promotions: Bio-Tech Industries Inc., Combined Companies International Corp. and Systems of Excellence Inc. (This was one of numerous cases involving Mr. Davis.)
In a related criminal prosecution, Mr. Davis was sentenced last October to 30 months in prison for masterminding the 1993-1997 rig job of Combined Companies International.
The fraudulent Combined Companies promotion included bribed brokers, false audit reports, income tax returns and bank loan documents, Form S-8 share issuances to bogus consultants and illegal use of nominee accounts. The prosecution followed an extensive investigation by the Las Vegas Field Office of the Internal Revenue Service. The judge found that Mr. Davis, amongst other things, obstructed justice by plotting to have an accountant, a witness against him, injured to shut him up.
Meanwhile, HiTech has scrambled in recent weeks to get to the bottom of its scandal, hiring a team of independent investigators including two former federal prosecutors, a former Assistant United States Attorney and a former FBI supervisory agent. The probe is now complete.
"The independent investigators reviewed disclosures HiEnergy Technologies has made, reviewed disclosures made by SLW Enterprises prior to the April 2002 reverse merger, reviewed other publicly available information, and conducted a number of interviews, including interviews with the person who had previously been involved in stock manipulation schemes and two of HiEnergy's former directors who know him," states the company.
HiEnergy says the probe uncovered no evidence that its "current executive management team engaged in any wrongdoing," and no evidence of any wrongdoing in the reverse takeover.
However "the independent investigators obtained evidence that some of HiEnergy's stockholders who purchased significant amounts of SLW Enterprises shares prior to the reverse merger know or have had business dealings with the person who had previously been involved in stock manipulation and that one of these stockholders was a company reportedly owned by his mother, which disposed of its shares in April 2002 at a profit believed to be between $500,000 and $600,000," states HiEnergy in its filing.
"A person who later served as HiEnergy's interim president and was a director was aware of these purchases of SLW Enterprises shares. The independent investigators believe the evidence is inconclusive whether the person who had previously been involved in stock manipulation had control over these SLW Enterprises shares or whether, if so, HiEnergy's former president and director had any knowledge of such control."
The company is now co-operating with the SEC in its regulatory probe.

(c) Copyright 2003 Canjex Publishing Ltd.

http://www.stockwatch.com





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Anonymous
Posted: Friday, August 12, 2011

Posted: 6/8/2004 11:34:41 AM

By: article on Jay G

Ex-hostages maintain low profile

BY JOHN SAUNDERS
The Globe and Mail
386 words
21 October 1997
The Globe and Mail
Metro
A3
English
All material copyright Thomson Canada Limited or its licensors. All rights reserved.

The story of five Canadians who were found bound and gagged in Nassau last week gained a new dimension yesterday, becoming a tale of expatriate stock salesmen held hostage in their own office.

The five, rescued by Bahamian police after a two-day ordeal, sought no help from Canadian diplomats and no publicity. It turns out that some or all of them worked on the top floor of the old, three-storey house in downtown Nassau where they were held captive, and that their captor may have been a former employee.

The space was rented in March by a company called Avionics Surveys, a name that did not hint at a quintessentially Canadian line of work, the sale of speculative securities to strangers by long-distance telephone. Similar groups of Canadians have operated at times almost everywhere there is a beach and a satellite uplink, but they do not tend to advertise their activities.

"I don't really know what business they were in,' said Jason Callender, a Nassau lawyer representing the owners of the building. But he said he learned yesterday that they lacked "a business licence to conduct whatever they were doing."

He added: "I don't think it was a situation of tourists being held up. It seems, from what [the police] told me, that there was a disgruntled employee who went back there to get some money out of them, because they fired him."

A 31-year-old Bahamian is charged with kidnapping and other offences and faces a court hearing in December. At Nassau police headquarters, Assistant Superintendent Arnold Josey said: "He didn't say much to us. What we really want to know from him is who are the other people involved, and we have not been able to get that information. He says he's a national hero, that we should regard him as a hero."

The Canadians, identified as Jeremy Rosenburg, Robert Kurtzer, Matthew Oliver, Frank Dold and Jay Gottlieb, could not be reached yesterday and did not appear to have returned to the building. A woman answering the phone at the restaurant on the ground floor said no one had been seen going up to the third floor since last week except police officers.









Anonymous
Posted: Friday, August 12, 2011

Posted: 6/8/2004 6:30:00 AM

By: more goods on the brothers


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Documents 1 to 4 of 4 matching the query "sbs AND interactive".

II :: Product Analysis - Capital Secured?
... I read your warning about the recent activities of GSP, but unfortunately it was too late. Some months ago I had the bad idea to buy through them some sbs interactive shares. I asked them to sell when the quotes were growing, but they did not execute the order. When the price dramatically fell I had back not the money...
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II :: Product Analysis - Millenium Bank - how secure?
... called Graves, Stanley & Peabody (what has this column said in warning about firms with posh-sounding names?) encouraged him to invest in a company called sbs interactive, an over-the-counter share in North America....
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II :: Special Feature - Hazardous to your financial health
... After initially investing in one stock recommended through telephone conversations with someone representing GSP, the investor then swapped stocks to a company called sbs interactive Inc, which again seemed to be performing well. At this point, contact was maintained with GSP, but it was soon to turn ugly. The company was supposed to...
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II :: Product Analysis - Hazardous to your financial health
... After initially investing in one stock recommended through telephone conversations with someone representing GSP, the investor then swapped stocks to a company called sbs interactive Inc, which again seemed to be performing well. At this point, contact was maintained with GSP, but it was soon to turn ugly. The company was supposed to...
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Anonymous
Posted: Friday, August 12, 2011

Posted: 6/7/2004 10:00:25 PM

By: j - Gurian links for SBSS ex-Director

Barry Alter, who resigned as Director & Secretary of SBS Interactive in Sep last year, had connections to Phil Gurian.

This came to light in stories concerning HiEnergy Technologies, where Alter was a director and, briefly, President.

Gurian was an associate of "Mob-on-Wall-Street" kingpin Abramo. Abramo, Gurian etc were finally sentenced a couple of weeks ago for their sins (Tampa, USA v. Abramo, et al):

-------------------------------------------------

5/26/04 254 SENTENCING held on 5/26/04 before Judge Steven D. Merryday,
as to Philip Gurian (2) count 2. Imprisonment: Time Served;
Supervised Release: 36 months to run concurrent; Fine:
Waived; Restitution: $6,158,653.18 ($1,194,795.37 (ASCI)-
joint and several with Vittor and Gesser, $166,006.36
(TWTI)- joint and several with Abramo and Vittor,
$4,797,851.45 (SCTI)- joint and several with Abramo, Vittor,
and Consalvo) $7,500,000.00 has already been forfeited to
the government; Special Assessment: $100.00; (SDM-5/26/04),
as to Philip Gurian (2) count 3. Imprisonment: Time Served;
Supervised Release: 36 months to run concurrent; Special
Assessment: $100.00; (SDM-5/26/04), Counts disposed:
Philip Gurian (2) counts 1, 4-15, 16-19, 20, 21. Dismissed
on motion by United States Attorney Court Reporter: Carol
Jacobs (rm) [Entry date 05/27/04] [Edit date 05/28/04]

----------------------------------------------------

Two pieces below - first comments from latest HiEnergy 10-Q for Jan 2004; second a Brent Mudry piece from last year.

SEC INVESTIGATION AND RELATED LITGATION

After reading news reports that connected our reverse takeover of HiEnergy
Microdevices with known stock manipulators, our Board of Directors directed our
President to hire a team of independent investigators to investigate whether the
company or any of its officers and directors had engaged in any wrongdoing. The
core team of independent investigators consisted of two former federal
prosecutors, a former Assistant United States Attorney in the civil division who
has been in private practice since 1981 with experience in securities litigation
and regulatory and investigative proceedings, and a former supervisory agent
from the Federal Bureau of Investigation. The independent investigators reviewed
disclosures we have made, reviewed other publicly available information, and
conducted a number of interviews, including interviews with a person who had
previously been involved in stock manipulation schemes and two of our directors
who know him. The independent investigators have completed their investigation.
Except as discussed in the next paragraph, the independent investigators have
concluded the following:

1. The independent investigators have not identified any evidence that our
current executive management

team engaged in any wrongdoing.

2. The independent investigators have not identified any evidence of
wrongdoing following the April 2002 reverse takeover by HiEnergy of
HiEnergy Microdevices.

3. The independent investigators believe there is insufficient evidence to
fully conclude that there was no wrongdoing by HiEnergy prior to the
reverse takeover

4. Our current officers and directors responded promptly and cooperated
fully with the investigation.

As mentioned in Item 3, above, the independent investigators believe there is
insufficient evidence to fully conclude that there was no wrongdoing by HiEnergy
prior to the April 2002 reverse takeover. The independent investigators obtained
evidence that some of our stockholders who purchased significant amounts of
HiEnergy shares prior to the reverse takeover knew or had business dealings with
Phil Gurian, a person who had previously been involved in stock manipulation,
and that one of these stockholders was a company reportedly owned by Mr.
Gurian's mother, which disposed of its shares in April 2002 at a profit believed
to be between $500,000 and $600,000. Mr. Barry Alter, a person who later served
as a director of the Company and for a short time as our interim President, was
aware of these purchases of HiEnergy shares. The independent investigators
believe the evidence is inconclusive whether Phil Gurian had control over these
HiEnergy shares and whether, if so, our former President and director had any
knowledge of such control.

On May 27, 2003, Mr. Alter brought a lawsuit against us in the New Castle County
Court of Chancery in Delaware to recover the advancement of expenses he
allegedly incurred in response to the SEC investigation that was exactly the
same investigation that the Company answered, but Mr. Alter obtained separate
legal counsel to represent him in connection with the investigation. That action
was identified as Civil Action No. 20320NC. On June 17, 2003, Mr. Alter notified
us that this action had been voluntarily dismissed without prejudice.


SEC probes HiEnergy amid Gurian connections

2003-03-14 14:24 ET - Street Wire

Also Street Wire (U-HIET) HiEnergy Technologies Inc
Also Street Wire (C-SWB) Stockgroup Information Systems Inc
Also Street Wire (U-SWEB) Stockgroup Information Systems Inc


by Brent Mudry

HiEnergy Technologies Inc., a California-based penny stock promotion, revealed Friday that it is under investigation by the U.S. Securities and Exchange Commission amid media reports linking the company to notorious Mafia-linked promoter Phil Gurian. HiEnergy's vigorous Vancouver tout, Jeff Berwick, is a Howe Street mover and shaker, who finds himself in the wrong place at the wrong time. Mr. Berwick is the founder and chief executive officer of StockHouse Media Corp., a Vancouver financial site now controlled by Stockgroup Information Systems Inc. Stockgroup has been a Howe Street favourite for several years, recently attracting new financial supporters after taking over Mr. Berwick's StockHouse and placing him on the Stockgroup board.

In the U.S., Mr. Gurian and his close associate Phil Abramo, a capo in New York's DeCavalcante family, are best known as the stars of The Mob on Wall Street, a 1996 cover feature by Business Week reporter Gary Weiss. In Canada, the pair are best known as clients of several Canadian brokerages, notably Pacific International Securities in Vancouver, through secretive offshore nominee accounts in the Bahamas.

In a Form 8-K filing Friday, HiEnergy confirms the SEC investigation and the board resignations of former president Barry Alter, of Toronto, and securities violator Gregory Gilbert, both at the request of chairman Bodgan Malich. On Tuesday, the company also confirmed the resignation of president and chief executive officer Tom Pascoe, and the fact that another director, Richard Alden, has been dead for some time now.

"The Enforcement Division of the Securities and Exchange Commission has opened an investigation requesting HiEnergy's cooperation on a voluntary basis. HiEnergy has supplied the Enforcement Division attorneys with the reports developed by our independent investigators," states HiEnergy in its Friday filing.

"HiEnergy intends to cooperate with the Enforcement Division's investigation and has agreed to voluntarily provide the Enforcement Division with other documents they have requested. At this time the Enforcement Division attorneys have not indicated whether they intend to recommend action against the company or any of its officers or directors."

This sudden situation seems awkward for Mr. Berwick, the chief editor of Paradigm Trader, a StockHouse in-house tout feature. The editor has been touting HiEnergy since at least November.

"On January 31 I took the time to travel to Irvine, California, to visit with Tom Pascoe, CEO of HiEnergy Technologies. I am very glad to have visited as meeting the people of the company and hearing their story in person is always more enlightening than reading press releases and information on their Web site," stated a Feb. 7 StockHouse report, entitled "Jeff Berwick's Paradigm Trader: On Hiatus with HIET."

"I came away from the meeting believing that this $2 stock has the potential to go to $100+. I also felt that this stock could also go from $2 to $0.10 in less than a year if a number of variables were to occur," stated Mr. Berwick, covering two bases at the same time. (All figures are in U.S. dollars.)

So far, the 10-cent call is the closer of the two. HiEnergy shares, which briefly peaked at $3.15 in mid-December, began collapsing in mid-February, and bottomed out at 55 cents on Wednesday. The stock fell 10 cents to close at 64 cents on Friday.

Without giving details, Mr. Berwick notes that a "significant portion" of his personal speculative portfolio is in HiEnergy shares. In a Feb. 24 registration statement, HiEnergy hopes to clear eight million shares for resale to the general public. This includes 44,500 shares owned by Mr. Berwick, perhaps purchased in an earlier financing. His cost is not known.

Part of Mr. Berwick's optimism is based on his hopes for HiEnergy's public relations campaign. "I am familiar with the group they are using for their PR and they are very, very good at getting attention for companies like HiEnergy. It is my belief that they will be making a lot of (sic) over the coming months and I would expect HiEnergy to get a fair share of media attention," he states.

Although not identified by the StockHouse tout, a company in Toronto, called Primoris Group Ltd., handles HiEnergy's investor and public relations, according to the penny stock promotion's press releases. Securities filings show Primoris was granted options on 400,000 HiEnergy shares at $2, the biggest such grant to any promotional group, while Joseph Carusone is president of Primoris.

Mr. Carusone and Mr. Berwick are colleagues. In 1999, Mr. Carusone was appointed to head StockHouse.ca, a core StockHouse unit based in Toronto, and given the title of executive vice-president of operations.

There is no suggestion that Mr. Berwick, Mr. Carusone, Stockgroup, StockHouse, Paradigm Trader or Primoris have done anything wrong or that any of their HiEnergy activities are part of the investigation by the SEC.

The HiEnergy story began to crumble when an avid market follower began sniffing around another controversial penny stock promotion, Medi-Hut Co. Inc., in January, prompting the company to issue a Feb. 7 press release distancing itself from bogus analyst Christopher Cosme Tavares of Metro Trading, a tiny Florida brokerage, the author of an upbeat research report.

Dow Jones penny stock reporter Carol Remond broke the HiEnergy story on Feb. 21, revealing that the company's former market maker, Metro Trading, was linked to Mr. Gurian, as a number of its employees previously worked at Sovereign Equity Management, the brokerage he secretly controlled in The Mob on Wall Street case.

With a little digging, a gold mine was soon discovered. Ms. Remond had a heck of a time tracking down Rheal Cote, a key figure in HiEnergy's reverse takeover of SLW Enterprises Inc. His stated address, however, happens to be a condominium owned by Mr. Gurian's mother, Jeannie Gurian. Another significant shareholder of SLW was Benil Finance Ltd., based in the Bahamian law office of Obafemi Pindling, the favourite offshore front of Mr. Gurian and Mr. Abramo.

Metro Trading's two principals are Mr. Tavares and Greg Vittor, according to Florida state records. Mr. Vittor happens to be the younger brother of Glen Vittor, who fronted for Mr. Gurian as Sovereign's owner and who was indicted along with Mr. Gurian and Mr. Abramo in 1999.

In September, 2001, the SEC banned Glen Vittor for his key role in the 1992-93 fraudulent promotion of Howe Street promoter Larry Nesis's Technigen Corp. Mr. Vittor was credited as a primary player in Technigen, through Sovereign Equity. Technigen, one of the most notable scandal-ridden promotions on the former Vancouver Stock Exchange in the late 1980s, was delisted from the VSE in mid-1989 and continued trading on Nasdaq.

In one of the serendipities of the penny-stock world, Vancouver stock sleuth Adrian du Plessis, whose investigation into Technigen in 1987 blew up the company into a first-rate scandal despite vigorous denials by the VSE, emerged a decade later to blow up YBM Magnex International just before the feds raided the Russian mob play. Mr. du Plessis's YBM probe was sparked by the appearance of Vancouver promoter Michael Schmidt, a former Technigen tout on the VSE, on YBM's board.

Mr. Vittor's alleged boss, Mr. Gurian, and Mr. Abramo, emerged as players four years ago in the Mafia's then-highest-profile incursion on Howe Street. In February, 1999, Stockwatch revealed the regulatory probe of former Pacific International Securities Calgary branch manager Jean-Claude Hauchecorne, who handled related offshore accounts of Mr. Gurian, Mr. Abramo and Eric Wynn, who frequently made collect calls to the P.I. broker while in jail for stock fraud and tax evasion.

The risk-loving Mr. Hauchecorne was subsequently banned for life by the former VSE, which over the years had grown more particular about its image abroad. Howe Street brokerage Pacific International is now in the midst of a hearing by the British Columbia Securities, which claims it serviced too many crooks, securities violators and other riff-raff.

SEC enforcement director Richard Walker highlighted the Vittor case, and a number of other Mafia stock cases, in a Sept. 13, 2000, speech to the House Subcommittee on Finance and Hazardous Materials, Committee on Commerce, addressing the involvement of organized crime on Wall Street and the commission's efforts to root it out. "On April 23, 1998, the commission sued Sovereign Equity Management Corp. and its president Glen T. Vittor for a scheme to manipulate the market price of two microcap companies, Technigen Corp. and TV Communications Network, Inc. Five days later, Vittor was separately charged by the SEC for his role in another microcap manipulation. The Business Week Article reported that Sovereign was controlled by organized crime," Mr. Walker told the committee.

"The commission will continue to implement a vigilant program to safeguard the microcap securities market from involvement by organized crime or anyone else aiming to commit fraud. We will also continue to work closely with the Justice Department to make certain that every instance of organized crime on Wall Street is prosecuted criminally."

In a rare extensive media interview, Mr. Gurian recently described his involvement with HiEnergy. In a March 10 article in WorldNetDaily.com, the penny stock mobster told Florida reporter Sherrie Gossett that he had nothing to do with HiEnergy, the Mafia or money laundering, one of many charges he faces in the 1999 indictment, the case relating to his dealings with Pacific International's Mr. Hauchecorne.

Mr. Gurian claims his only connection to the HiEnergy is that its recently departed CEO Mr. Alter, of Toronto, was a golfing friend he met many years ago in Florida. Mr. Gurian also admitted giving "contacts" to Mr. Alter, which Mr. Alter confirmed to Ms. Gossett.

Mr. Berwick, the Vancouver StockHouse tout, has scrambled to put a happy spin on things, and tried to discredit the original Dow Jones article by Mr. Remond. "The article is mainly innuendo that some unsavoury people may have had some involvement with the shell that HIET went public through and with some small-time brokerage in Florida which apparently gave a buy rating on HIET," stated Mr. Berwick in a Feb. 24 report.

"If you look into all the previous owners of any OTC shells and all the people who are associated with small town brokerages, you will uncover lots of greasy people. This doesn't overly concern me."

Mr. Berwick also tried to reassure his nervous readers by stressing that while the Dow Jones article looked negative at first glance, he had few concerns. "After reading the column more carefully, I realized that there is a lot of bluster that is over-the-top negative and worded in a way to derive fear from a number of tidbits of information that may or may not have had anything to do with HIET," he stated.

Alas, HiEnergy's troubles are hardly just in the distant past, as indicated by the broad boardroom purge in the past week.

Besides Mr. Alter's relationship with Mr. Gurian, which is not disclosed in regulatory filings, another surprise arrived with Mr. Gilbert, who also was asked to quit as a director. Mr. Gilbert was fined $100,000 by the SEC in 1999 and banned from future securities violations, a distressing fact HiEnergy first disclosed to shareholders on Tuesday. The company also noted that Mr. Gilbert forgot to say that the SEC previously targeted Hamilton Biophile, a company he served as chief executive officer.

The case in which Mr. Gilbert was fined $100,000 indirectly featured Barclay Davis, a Las Vegas penny stock promoter earlier described by the SEC as a "serial stock manipulator." In the serendipity of Howe Street, Mr. Davis, like Mr. Gurian, was a notable bad boy client of Vancouver brokerage Pacific International.

Mr. Gilbert, Loretta Davis, the wife of the promoter, and two other members of the Davis family, were charged with manipulating three penny stock promotions: Bio-Tech Industries Inc., Combined Companies International Corp. and Systems of Excellence Inc. (This was one of numerous cases involving Mr. Davis.)

In a related criminal prosecution, Mr. Davis was sentenced last October to 30 months in prison for masterminding the 1993-1997 rig job of Combined Companies International.

The fraudulent Combined Companies promotion included bribed brokers, false audit reports, income tax returns and bank loan documents, Form S-8 share issuances to bogus consultants and illegal use of nominee accounts. The prosecution followed an extensive investigation by the Las Vegas Field Office of the Internal Revenue Service. The judge found that Mr. Davis, amongst other things, obstructed justice by plotting to have an accountant, a witness against him, injured to shut him up.

Meanwhile, HiTech has scrambled in recent weeks to get to the bottom of its scandal, hiring a team of independent investigators including two former federal prosecutors, a former Assistant United States Attorney and a former FBI supervisory agent. The probe is now complete.

"The independent investigators reviewed disclosures HiEnergy Technologies has made, reviewed disclosures made by SLW Enterprises prior to the April 2002 reverse merger, reviewed other publicly available information, and conducted a number of interviews, including interviews with the person who had previously been involved in stock manipulation schemes and two of HiEnergy's former directors who know him," states the company.

HiEnergy says the probe uncovered no evidence that its "current executive management team engaged in any wrongdoing," and no evidence of any wrongdoing in the reverse takeover.

However "the independent investigators obtained evidence that some of HiEnergy's stockholders who purchased significant amounts of SLW Enterprises shares prior to the reverse merger know or have had business dealings with the person who had previously been involved in stock manipulation and that one of these stockholders was a company reportedly owned by his mother, which disposed of its shares in April 2002 at a profit believed to be between $500,000 and $600,000," states HiEnergy in its filing.

"A person who later served as HiEnergy's interim president and was a director was aware of these purchases of SLW Enterprises shares. The independent investigators believe the evidence is inconclusive whether the person who had previously been involved in stock manipulation had control over these SLW Enterprises shares or whether, if so, HiEnergy's former president and director had any knowledge of such control."

The company is now co-operating with the SEC in its regulatory probe.

bmudry@stockwatch.com


Anonymous
Posted: Friday, August 12, 2011

Posted: 6/15/2004 7:47:56 PM

By: yeayeayeay

If you were a lawyer and not a liar you would be aware that truth is an absolute defence to slander and libel...you would also know which one is written and which one is spoken


Anonymous
Posted: Friday, August 12, 2011

Posted: 6/15/2004 7:47:54 PM

By: yeayeayeay

If you were a lawyer and not a liar you would be aware that truth is an absolute defence to slander and libel...you would also know which one is written and which one is spoken


Anonymous
Posted: Friday, August 12, 2011

Posted: 6/12/2004 12:53:34 PM

By: look what I found crimms


THE DILIGIZER BOARD

Diligizer
> The DILIGIZER Board
> The armstrong group (Duravest) a scam?

Page 1 2
>

--------------------------------------------------------------------------------

Subject: The armstrong group (Duravest) a scam?
Posted By: maof25 - Registered User
Posted At: (5/9/04 12:12 am)
Reply

Hello,

Has anyone heard about "The armstrong group" ?
www.the-armstrong-group.com

I invested through them money in a shell company called duravest (duvt.ob).

Recently I decided to sell my lot of shares, and since them they havn't returned my calls/emails/faxes

Am I a victim of an offshore scam (please tell me I'm not, a lot of money is involved here ! and I mean a lot).

Looking forward to your replies, and suggestions how to react.




--------------------------------------------------------------------------------
Page 1 2 >



Replies The armstrong group (Duravest) a scam? maof25 5/9/04 12:12 am
Be nice if Armstrong had an address Bank Prive 5/9/04 1:13 am
their zurich "office"... ffbkdavid 5/9/04 1:32 am
How can I sell it? maof25 5/9/04 2:06 am
If you bought through an unlicensed "broker"... Bank Prive 5/9/04 4:16 am
Who are some of the people -- Emmett II 5/9/04 5:34 am
The name of the peoples I dealt with : maof25 5/9/04 2:43 pm
Do you have any locations for those people? Emmett II 5/9/04 7:49 pm
The company is still operating maof25 5/9/04 8:18 pm
Re: The name of the peoples I dealt with : dever1 5/24/04 9:52 am
Re: The name of the peoples I dealt with : dever1 5/25/04 3:09 pm
Re: How can I sell it? dhe214 5/24/04 2:23 pm
Re: The armstrong group (Duravest) a scam? jurisper 5/10/04 12:24 am
Re: The armstrong group (Duravest) Domaine gerjd 5/10/04 3:38 am
Re: The armstrong group (Duravest) a scam? JohnnyLaChingasbuey 5/10/04 5:00 am
JohnnyLaChingasbuey's advice Castlegnome 5/10/04 7:22 pm
Re: JohnnyLaChingasbuey's advice peruseeker 5/24/04 3:37 pm
Re: JohnnyLaChingasbuey's advice joeybagger 5/24/04 5:54 pm
Re: JohnnyLaChingasbuey's advice jurisper 5/25/04 12:32 am
Re: Duravest and its promoters joeybagger 5/25/04 10:14 am
Re: Duravest a bit more joeybagger 5/25/04 10:16 am
Looks like a lot of people were scammed joeybagger 5/25/04 11:52 am
Re: The armstrong group (Duravest) a scam? dhe214 5/10/04 10:15 pm
armstrong dever1 5/24/04 9:49 am
Re: armstrong dhe214 5/24/04 2:43 pm
Re: The armstrong group (Duravest) a scam? dhe214 5/24/04 2:18 pm
Jay Gotlieb dhe214 5/25/04 4:26 pm
Re: Jay Gotlieb Soup dhe214 5/28/04 1:39 am
Barry Alter jurisper 6/8/04 3:27 am
Re: MAOF25 dhe214 5/28/04 2:37 pm
Re: The armstrong group (Duravest) a scam? dhe214 5/29/04 12:05 pm
Re: The armstrong group (Duravest) a scam? dhe214 6/2/04 5:02 am
Re: The armstrong group (Duravest) a scam? dhe214 6/4/04 2:25 pm




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Anonymous
Posted: Friday, August 12, 2011

Posted: 4/10/2009 9:49:22 PM

By: truthisanabsolutedefence@lawyer.not.com

Yeah...if and only if you were a lawyer you would know that truth is an absolute defence. The frum posts the truth...only you with a fake email are hiding...hmmm did todd crackhead or homoboy jay right it....lol loser


Anonymous
Posted: Friday, August 12, 2011

Posted: 3/15/2009 9:45:13 PM

By: truth

eah...if you went to law school instead of smoking rock you'd know TRUTH is an absolute defence and ....criminal????
what does criminal law have to do with any of your retarded threats??
oh yeah .......threat means you are impotent to carry out anything...and impotent as well


Anonymous
Posted: Friday, August 12, 2011

Posted: 7/26/2007 7:05:28 PM

By: cakeholer

Concerning the Armstrong Group, I also bought shares in the same company from an educated sounding Englishman named Flemming. I was later phoned by an American who advised me to sell my shares at once and buy others. I received 'certificates' for all this. When I started to ask what had happened I received no replies to my e-mails.
Late in the same year I was contacted by another American who claimed to work in New Jersey who offered to help me recoup my losses by taking up the share options I had so that the shares could be bought en block by some company that wished to take a controlling interest. This of course required that I put up more money. I may have been stupid, but I'm not that stupid.
There can be no doubt from my experience and what is to be found with a little help from google that these people are theives and scum of the lowest order. The will get their come-uppance one day. The sooner the better!


Anonymous
Posted: Friday, August 12, 2011

Posted: 3/30/2005 11:42:52 AM

By: LOL@that

What ever came of the threat of a suit?? Probably nothing???


Anonymous
Posted: Friday, August 12, 2011

Posted: 7/24/2004 8:49:19 AM

By: lawyer666


STOCK FRAUD AND ORGANIZED CRIME




This web site is provided as a non-profit public service to investors, corporate management and the general public.


The information contained on this site was obtained from general media releases and public records.




Be sure to read our exclusive investigative reports: STOCK MANIPULATION AND THE MEDIA.



Be sure to read our newest exclusive investigative reports: MESSAGE BOARD POSTERS AND STOCK MANIPULATION.








THE FOLLOWING INFORMATION IS PROVIDED TO YOU BY ASIAVEST INVESTIGATIVE SERVICES-INTERNATIONAL FRAUD DIVISION. IF YOU ARE A PUBLIC COMPANY OR AN INDIVIDUAL INVESTOR, AND HAVE BEEN A VICTIM OF SECURITIES FRAUD, WE MAY BE YOUR "EQUALIZER"!






MESSAGE BOARD POSTERS



UPDATE 2



September 7, 2003
Taipei





Our web site and our various articles on message board posting have been fortunate enough to gain a great deal of attention over the past several months. Information on our web site has seemed to have struck a nerve with a certain criminal enterprise and their followers. We have received e-mails and telephone calls from members of the enterprise, in an attempt to threaten and intimidate our investigators. All messages and public postings from these intimidators have been documented and forwarded to the appropriate authorities. You would think that it would be enough that certain key players in this certain criminal enterprise are under federal indictment, but apparently they are gluten for punishment and continue with their tactics of intimidation, public threats and spreading of mis-information. Take their "leader" for example, a well known short seller and convicted felon. Even though he is awaiting trial on a variety of charges including RICO violations, he still continues to post on public message boards while out on bail and awaiting trial; but then again, no one ever said criminals were smart!



After having several interactions with governmental officials, we are certain that message boards are monitored by governmental agencies. An anonymous government source revealed that his agency follows the activities of certain public boards, on a daily basis and that they have infiltrated certain private sites; and that they keep a running history of chat logs. If we know this, then the criminals must also know it; so why would they continue posting their threats and intimidating messages? Why would they copy and post information that is protected by copyright? Why would someone under indictment continue to follow the very same pattern of activities that got him indicted, in the first place? Why would these people openly and publicly threaten government witnesses, even after being warned? Why would certain people criticize the United States government and engage in a continuing pattern of intimidation and criminal activity? Why would people that have been alluded to, as being terrorists, continue to act like terrorists? Why, because they are STUPID!



We have also been accused (by members of the criminal element, other short sellers, and a certain group of message board posters) of violating certain SEC rules because we have openly admitted to monitoring public message boards, both as a personal investigative resource and to protect the legal interests of our clients. We herewith reiterate the point that “we do” monitor certain message boards and this is done to protect the interest of clients and to gather information and evidence to be used in both civil and criminal proceedings, and public disclosure does not apply. We also reiterate that when certain posters violate the stated Terms of Service for message board postings, “we do” follow stated procedures in having false and misleading posts removed and posters tossed, and we will continue to do so. This option is open to all who participate in viewing and posting on message boards.



As noted, many of our articles have been copied and posted on public message boards (eventhough the material is original and protected works) and this has helped to make more people aware of certain pitfalls of information posted on message boards. In addition to drawing attention to certain message board posters, it has also exposed a certain element for what they are; criminals and idiots.



Message boards and private web sites have been a facilitator for certain criminal elements due to perceived anonymity and perceived First Amendment protections, but now, new technology and governmental attention has brought these activities into a better focus. We encourage readers to see for themselves the type of activities that occur on message boards and to be cautious of information that is posted. We specifically refer to a certain Silicon Investor web site which is in our opinion a facilitator of a certain criminal enterprise, currently under indictment by the federal government.



The above article has been written by investigator Andy Liu of the Taipei office of Asiavest Investigative Services. The purpose of the article is to inform readers of certain activities which may have a negative influence on both public and non-public companies. This report was updated on September 23, 2003.




NEWS UPDATE

CORRUPTION IN MODERN JOURNALISM

BY PHILLIP WU
MAY 18, 2003

TAIPEI





Recently reported news that a reporter for the New York Times has been accused of plagiarism and of fabricating articles, may be the sign of an even more serious situation in professional journalism. We have reported on several occasions that a certain small cap sector, reporter/writer for a major financial news service had been suspect in writing negative articles for personal financial gain. We also believe that this certain reporter may have played a key role in a major criminal enterprise involving naked shorting and government corruption, which is currently under indictment. Our suspicions have been passed on to certain enforcement agencies, all of which have assured us that an investigation would be considered. Rumors have it that certain investigations were in fact initiated and are currently ongoing. From the interviews that we have conducted and the evidence we have gathered, it is our belief/opinion that the allegations are in fact very true. We also believe that the truth will eventually surface, as it has, in the New York Times incident. We are documenting this report on our web site because we truly believe that the allegations are true, and that this certain journalist’s employer has continued to ignore the warning signs, the complaints, and even the numerous lawsuits. It is our opinion that this certain journalist has for over a period of at least three years engaged in an ongoing pattern of corruption and criminal activity. We believe that there are documented financial transactions(both in the United States and offshore), computer evidence and a very clear paper trail, that will eventually expose this public corruption. Our investigation alone has generated more than 1000 pages of investigative notes and reports, in an attempt to expose this crime. It is a crime which has directly effected more than fifty public companies, many of which were so devastated by the misleading and manipulative stories that their stock prices crashed with each story and with each update of a story. This type of “hatchet job” journalism has caused literally thousands of investors to lose millions upon millions of their hard earned dollars.



If we cannot trust the media to provide fair and balanced reporting, then who can we trust to inform us of current events and news in general? Just look at the scandal currently affecting the New York Times, one of the leading news providers in the world. Just imagine what will happen if it is determined that a certain financial news provider is itself infected with a virus of corrupt journalist(s). It would be more than a public scandal; it could be a financial disaster, and put in question all other providers of financial information. The primary person to be held accountable should be the one at the very top of the organizational chart of the suspect organization. Also to be held liable and publicly accountable should be governmental agencies that failed to take action to protect investors and the public welfare in general, after having been put on notice that certain criminal violations exist.



NOTE: This report was written by investigators in the Taipei office of Asiavest Investigative Services. The information in this report is based on research, witness interviews, field investigations and the personal opinions of investigators. Additional and relevant information may be found on this web site in previously written exclusive reports and general media releases. Permission to copy or reprint this investigative report, must be obtained from the administrative offices of Asiavest Investigative Services. This report was updated on September 24, 2003. Updated again on October 26, 2003.




Copyright 2003 Asiavest Investigative Services. All Rights Reserved. No copying, transmitting, reprinting, posting or other use of this article, without the expressed written permission of Asiavest Investigative Services.



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CORPORATIONS BEWARE



ANTI-SLAPP LAWS vs. AGGRESSIVE CORPORATE ENTITIES

March 28, 2003

Many public companies are often times eager to quiet on line critics and to identify anonymous message board posters. Filing lawsuits and issuing subpoenas to identify on line critics will often accomplish their initial goal, but those actions can very well have negative results. This aggressive type action can often times be an ill-advised approach, especially in the State of California.

In California, there is a law called "Anti-SLAPP" which basically says that if you file a frivolous lawsuit against an entity to "shut them up," a hearing will be held within sixty days to determine if a "SLAPP" situation exists. If it does, The case is instantly DISMISSED, and the Plaintiff (whoever filed the lawsuit) is generally ordered to immediately pay the Defendant's attorney fees. "SLAPP" is an acronym for "Strategic Lawsuits Against Public Participation."

Under California law, the person bringing the anti-SLAPP motion [the person who is the Defendant in a SLAPP suit] must file a motion with the Court which, in addition to meeting all usual legal requirements for motions, shows that the lawsuit is one which comes within the scope of the anti-SLAPP law, that is, that he or she was sued for exercising the constitutional right of free speech or the right to petition government.

Once the moving party has shown that this is so, and thus that the anti-SLAPP law applies, then a very heavy burden is imposed upon the person who filed the SLAPP suit [the SLAPP Plaintiff].

In brief, the SLAPP Plaintiff must show that he or she has a "probability of prevailing" on the claims asserted. This can be done only by producing, in opposition to the anti-SLAPP motion, admissible evidence which, if believed by the jury, would be enough to support a judgment in favor of the Plaintiff.

The requirement that the evidence be admissible is a very important one. It is often very difficult for a Plaintiff to produce, so early in the case, evidence which is legally "admissible" under the rules of evidence. Also, it is often difficult for a Plaintiff to produce, so early in the case, evidence on every single point which would be necessary to support a judgment in favor of the Plaintiff.

This burden of proving the Plaintiff's case by "admissible" evidence is especially heavy because once an anti-SLAPP motion is filed, all "discovery" [such as depositions] is stopped, unless and until special permission is obtained from the Judge permitting discovery to continue.

In addition to producing evidence to support the claims made against you, the SLAPP Plaintiff must also overcome your constitutional and related affirmative defenses.

Thus, as a practical matter, the SLAPP Plaintiff will have difficulty making the necessary showing unless he or she had all of the necessary evidence before filing the lawsuit. Usually, Plaintiffs do not have all of the evidence they need before filing the lawsuit.

Anti-SLAPP laws -- designed to help defendants defeat "strategic lawsuits against public participation" -- are now being invoked in cases involving statements made in cyberspace. In one case, a California court applied an anti-SLAPP law in a dispute over allegedly defamatory comments posted in a web site.

In California, a defendant in a SLAPP lawsuit may bring a "Special Motion to Strike," and show that the actions complained of are in furtherance of his right of free speech. Specifically, this may be established by showing that the statement forming the basis of the defamation suit was made in "a place open to the public or a public forum in connection with an issue of public interest"(such as a public internet message board such as Yahoo).

The California anti-SLAPP law was passed to address what was perceived to be a disturbing increase in lawsuits brought primarily to chill the valid exercise of the constitutional right of freedom of speech. The anti-SLAPP law is a procedural device that is designed to secure the prompt dismissal of SLAPP lawsuits unless the complaining parties can meet the stringent criteria under the anti-SLAPP law. As this case shows, this can present a formidable hurdle to claims of libel and slander.

The plaintiffs in the California case, Barrett v. Clark, filed a lawsuit, which was determined by the court to be a SLAPP suit, against several individuals who were alleged to have defamed the plaintiffs. However, the protections afforded to the defendants by the anti-SLAPP law, and by the immunity provisions of the CDA, proved to be insurmountable obstacles to the defamation claims. Thus, the defendant's Internet-based speech was essentially shielded by the combination of the First Amendment and California's anti-SLAPP law.

As if the defeat for the plaintiffs were not complete enough, the court also noted that in any event the plaintiffs were to be treated as "public figures" in the context of the dispute, and that under federal constitutional principles, they could not recover in the absence of a showing of "actual malice" by the defendants -- that is, by a showing that the defendants knew the statements to be false. Honest belief, in short, was a complete defense to the defamation claims, even if the statements had been determined to be both false and defamatory.

The Barrett case succinctly illustrates many important principles in the developing law of Internet free speech. Other courts faced with similar issues will no doubt emulate Judge James Richman's clear and cogent reasoning and methodical approach.

Often times internet posters faced with a threat of legal action have formally and publicly indicated that they are exercising their rights of free speech and certain rights afforded by anti-SLAPP laws. This in itself has been sufficient to stay any action anticipated by potential plaintiffs.

There are numerous non-profit organizations to be found on the Internet ( http://www.slapplaw.com/ ), which will assist SLAPP defendants in exercising their rights afforded under anti-SLAPP laws.

This report has been prepared by Asiavest Investigative Services as a reference document.

UPDATE MAY 21, 2003

The U.S. Supreme Court has refused to hear a case over Internet libel, letting stand an appeals court's ruling that two Connecticut newspapers could not be sued for libel in a Virginia court over allegedly defamatory articles posted on their Web sites. In the case, Young v. New Haven Advocate, a prison warden in Virginia sued over news articles that criticized a "supermax" prison in Big Stone Gap, VA

In Monday's denial certiorari, the high court passed on an opportunity to set a national standard for whether someone can be sued in another state for comments made online. Lower courts have veered in different directions.



Copyright 2003 Asiavest Investigative Services. All Rights Reserved.




THE PUMP AND DUMP SCHEME
AN EXCLUSIVE REPORT BY ASIAVEST INVESTIGATIVE SERVICES


This web site has provided a great deal of information on shorting and the short and distort scheme, but there is another side to the coin, that we have not covered and that is the pump and dump scheme. In many respects, the pump and dump scheme can have an even more devastating effect on investors, than can the short and distort scheme. From this writer’s perspective, investors can see the short attack coming, but the pump and dump tends to take investors by surprise. For as many short attacks as there are, there are just as many pump and dumps. The vast majority of these fraudulent schemes seem to fly under the radar screens of the SEC and other governmental regulatory agencies.



Just what is a pump and dump? The common pump and dump is to take a stock and thru a variety of fraudulent actions, manipulate the price of the stock to an inflated value. Once the price has reached its maximum potential, it is then sold off in large blocks. Once this happens the price of the stock immediately drops by double-digit percentages leaving innocent stockholders with dramatic losses. Generally there are two types of pump and dump schemes, the immediate and the long term. The immediate occurs when someone releases false information, generally thru a media release, with the specific intent of manipulating the price. This could be the company itself, or an outsider. The specific intent is to stimulate interest in the stock, attract buying, and cause the price to rise. Scenario, the fraudster buys a stock at lets say $5.00 a share, he/she then releases some false information like the company has just signed a multi-million dollar contract, buyers start buying, the price climbs maybe 60% to 80% within hours, the fraudster sells, and the price drops to even lower than where it started. This type of manipulation will almost immediately attract the attention of regulators but often times, after it is too late. The company itself rarely orchestrates this type of pump and dump.



The long term pump and dump is generally a company-orchestrated manipulation, which will often result in a class action lawsuit and eventual regulator intervention. The scenario is an intentional manipulation of the corporate stock over a period of time, which could be anywhere from three months to as long as two years. The company releasing profit projections, which reveal an untrue projection of upcoming quarterly revenues, could initiate a short-term pump and dump. Glowing revenue projections attract new buyers and the stock price goes up. As the price of the stock increases, insiders sell, reaping inflated profits. After two months, the company will issue adjusted revenue projections reflecting “canceled orders and a weaker than expected economy”. We recently investigated a case that followed this exact same pattern. The stock was trading at $5.15 per share and after the inflated revenue projections were released, the stock rose to $22.00 per share in a matter of a month. Insiders sold off 150 million dollars of stock at between $18. and $21. before restating their earning projections and watching the stock fall over a period of days to $4.85. During the unrealistic highs, every company Director sold off stock, and there was absolutely no attention given by regulators. Fortunately for innocent investors, a class action lawsuit was initiated and eventually this will attract the attention of the SEC.



One company that we have watched closely was a company called Genisesintermedia (GENI), which we consider an absolute textbook classic act of stock manipulation. GENI was not only a perfectly executed pump and dump scheme it was also the target of a professional organization of illegal short sellers. GENI was such a well-coordinated scheme that even most company employees were unaware that their company stock was being manipulated. The manipulation of GENI stock involved everything from paying off stock analysts to alleged bribes to well know media analysts who recommended the purchase of the stock numerous times on financial news programs. They had everything going for them including television and the print media. The stock price rose to $27 and was split three for one. After the split, the stock rose again to over $20 and was preparing for another three for one split, when the scheme collapsed. The manipulation of GENI involved corporate insiders, brokers, market makers, media personalities, bankers, off shore entities, and even an international arms dealer. It took the SEC over one year to finally take action. When they did take action, there was a trading halt. When the stock began trading, it was trading in pennies within a matter of days. The manipulation of GENI resulted in multi million dollar losses to brokers and investors. It also caused the failure of a major brokerage house and tainted a European traditional bank with scandal. It also resulted in millions of dollars in profits for the manipulators and for the short sellers. At the time of this writing, GENI was trading in the pink sheets at .0001 per share. Its corporate officers had turned their efforts to new corporate entities, the SEC was investigating and a major class action lawsuit had been filed.



The question with GENI is, why was the scheme allowed to continue for as long as it did? Why was the SEC reluctant to step in and protect investors, even though they had been alerted months in advance of the obvious scheme and criminal activity? Were government officials corrupted? Members of the media certainly were. Members of the Wall Street community certainly were. Why were no criminal indictments handed down? Why are the perpetrators of this criminal enterprise allowed to involve themselves with other publicly traded companies? Why were the ill-gotten gains of this criminal enterprise not repatriated from off shore bank accounts in Bermuda and the Cayman Islands? These are questions that every investor should be concerned about. The Enron scandal is considered kids play in comparison to the daily frauds committed in the world of public companies. Enron, in our opinion was not even close to the daily occurring criminal manipulation of public companies.



The next time you see a company making claims that appear unrealistic or if you go to a public message board and see postings such as, “NEW CONTRACTS BEING SIGNED”, THIS STOCK IS GOING TO GO THROUGH THE ROOF” or you look at a .10 stock and see analysts saying $5.00 in three months, be very cautious and consider that type of information as nothing more than a red flag. Be wary of hipsters and touts. There are no free lunches, and often times, what you see is not what it seems. Investment decisions should be based on company fundamentals and independent in-depth due diligence.



Disclaimer: Asiavest investigators who specialize in securities fraud wrote this article. The article is intended to give investors an insight into the possible pitfalls of investing. It has been written so that a layman can understand it. The information contained in the report is considered reliable although there are no explicit or implied warrantees as to the specific accuracy of the information. Much of the information was garnered from media reports and investigative resources. The information contained in this report is proprietary information and as such is protected by copyright laws. This report cannot be reproduced or retransmitted in anyway without the written permission of Asiavest investigative Services-Securities Fraud Division. Asiavest is one of a select group of companies specializing in securities fraud and plaintiff litigation support.







Copyright 2003 Asiavest Investigative Services. All Rights Reserved.





STOCK MANIPULATION AND THE MEDIA

EXCLUSIVE INVESTIGATIVE REPORT
The following is an assessment based on personal opinion and observations, expression of which are protected by the First Amendment of the United States Constitution, three years of specialized investigation, and information obtained from public records and sources.

Does the media play a role in manipulating stock prices? The answer of course would be yes, although the key point is, do they do it intentionally? As to the key point and in our own personal opinion, we would answer, of course. We base our opinion on the past three years of a complex investigation and extensive research. Do some research for yourself and take a look at what happened to a company called Genesisintermedia (OTCBB: GENI).


GENI is alleged to have paid off stock touts and analysts to promote their company in various forms of the media. This included giving a T.V. commentator several million dollars worth of stock to promote the company through the television medium, and by providing stock in their(GENI) company to a certain stock analyst.


The following information was taken from public records and class action lawsuits that have been filed against GENI:


The fraudulent scheme succeeded in driving up the price of Genesis stock 50% in December, 1999 as the public began reading glowing reports regarding Genesis issued by the analysts.


Similarly on February 8, 2000, Bloomberg TV announced that Genesis stock was expected to increase between 300% and 500%. Following that announcement, the price of Genesis Stock sharply increased nearly 80% from $2.21 to $3.92.


On February 25, 2000, CNBC announced that Genesis was a "Double your money pick." Following that announcement, the price of Genesis stock again increased nearly 80% from $5.48 to $9.33.


By February, 2000, as more false positive reports were disseminated to the public, Genesis stock soared nearly 80% on high volume trading. By March, 2000, the price of Genesis stock had risen more than 700% above the price the stock had traded at just months earlier.


On September 25, 2001, NASDAQ stunned investors by announcing that it was halting trading of GENI and issued the following press release:


The Nasdaq Stock Market(SM) announced that trading was halted in GenesisIntermedia, Inc.(GENI), today at 4:55 p.m., Eastern Time, for "additional information requested" from the company at a last price of 5.90. Trading will remain halted until GenesisIntermedia, Inc. has fully satisfied Nasdaq's request for additional information.


GENI subsequently began trading again and at the time of this writing, was trading on the pink sheets at .0001 per share, but there is a lot more to the story.


In early 2001, GENI was heavily shorted by what appears to be a group of organized shorter sellers. It is believed that the short interest began posting negative information on public message boards to drive the price down, but instead of dropping, the price continued to surge upwards. Then, a reporter for a major financial news service started to write a series of negative articles on the company. The articles accomplished almost immediately what the short sellers could not independently accomplish. Subsequently trading in the stock was halted and once it resumed trading, it was all but worthless. This is a text book example of how the media can push a stock upwards and on the other side of the coin, bring it down.


What happened to GENI is not uncommon, but is often a situation that goes unnoticed. One must always wonder what the motivation is of journalists who write slanted articles, either positive or negative. Are they reporting news or do they have other motivations or interests? Whatever the answer is, it is obvious that the media can have a direct influence on the value of publicly traded companies. It is also very obvious that the media can be influenced and corrupted.


Another company that has been directly affected by the media is a company called Wade Cook Financial (WADE). This is a company that has been relentlessly attacked by a certain journalist of a certain media organization. Their (WADE) stock price has plummeted in what many believe is a result of the numerous negative articles written about the company. Is it just a coincidence that the company had been heavily shorted over the course of the publication of the negative articles? What better way to bring down the price of a publicly traded company than to have "credible" media write negative articles about a company. Some observers have referred to the articles written about WADE as pure hatchet jobs. But, it is not only GENI and WADE that have been affected by the media, there are numerous companies that have experienced similar manipulation through organized "hatchet jobs". Most have bitten the bullet and others have fought back with litigation. At least one company had litigation pending in the appeals court, against one of the major financial news organizations, at the time of this writing.


Honest reporting of the news is an essential element of transparency, although, intentionally slanted reporting can be devastating to a public company. Our investigations have shown over the past several years that there exists a clear pattern of questionable activity by certain members of the media and these patterns of questionable activity have had a very negative effect on a number of publicly traded companies. In some of these isolated cases there appears to exist a direct link between certain "investigative" journalists and organized criminal activity; especially in the area of short selling.


Over the past year, we have received reports that certain journalists have been compensated by traders to write negative articles on companies. In fact we were told by a certain CEO, that he had been told that a certain "investigative" reporter had been paid $50,000 to write a negative article about his company, and the money was wired to the reporters bank account the day after the article was published. We have also obtained information that certain financial reporters had written articles and at the same time had maintained their own trading accounts, in more than one brokerage house. If this is in fact true(and we believe it to be), at the very least it would be unethical and at the very most it would be outright criminal. We have also interviewed "experts" that have been quoted in various slanted articles and they have clearly indicated that they had been misquoted by certain "investigative" reporters.


Does a conspiracy exist between stock manipulators and certain members of the media? In our opinion, most likely, yes.

The key point here is to not believe everything you read or hear in the media. Do your own due diligence and check out the facts for yourself.



If you are a public company that has been a victim of what you perceive to be manipulation by the media, feel free to send us your documentation so we can include it in our investigative data base.



Copyright 2003 Asiavest Investigative Services. All Rights Reserved.






STOCK MANIPULATION AND THE MEDIA (UPDATE 1)


EXCLUSIVE INVESTIGATIVE REPORT
Since writing our first report, we have been contacted by numerous publicly traded companies that have fallen victim to what they believe to be media manipulation. In almost all cases there has been a common link to extensive short trading of their stock and the timed release of certain negative news articles by certain specific journalists. Almost all of the articles, in many cases, were written by the same journalist. This is not coincidence; it is part of an ongoing pattern of what we believe to be, criminal activity. The effects of this pattern of activity are not only directed at Bulletin Board stocks, but have also effected stocks traded on AMEX and NASDAQ.

One need only to look at certain stocks and the pattern is obvious. Many of the companies targeted by the short interest have been halted and in many cases, gone out of business. Were those companies scams that deserved to be run out of business, or were they simply victims of organized criminal activity? There is differing opinion, based on who you ask. We believe that in many cases, the companies had weak fundamentals and naive management which made them perfect targets for a certain criminal enterprise. We also believe that had the ground rules been fair, many of the companies could have survived and thousands upon thousands of investors would not have fallen victim to substantial losses. Had many of these companies been allowed to function without the hazards of naked short selling and hatchet job news articles, they may have overcome the short comings faced by many start up companies. Had there have been more oversight by regulators and more restrictions on illegal trading and manipulation, many investors today would be free from the losses that they have encountered. There may have been a more level playing field if government officials had not been paid for confidential information by short sellers ( see reference articles listed below in this web site), and if certain members of the media had not been paid members of the criminal enterprise( listed later on in this site are certain allegations made against certain members of the media by corporate officials).

The media can have a direct influence on the manipulation of publicly traded securities, especially if the media source is a noted financial news source. One negative article can have a devastating effect on the trading price of a public company. Take a look at WADE, EDSN, ALU, ECNC, SEVU, CIO, ZERO, BIOP, ANTS, VLPI, and see how they were attacked by negative news articles published by certain financial news media sources. See what happened to their trading within 24 hours of the negative news articles being published about them. Some of the companies survived and others have gone out of business, or have been targeted by class action lawsuits. It is no coincidence that these companies were publicly targeted by short sellers and at the time they were targeted as a short call, certain news journalists wrote negative articles about the companies, driving down the price of the publicly traded security. Waiting in the wings were a certain group of law firms preparing to file class action law suits. When "coincidences" such as that occur, we call it MANIPULATION, and part of an ongoing criminal enterprise.

Two years ago, this type of activity by noted short sellers and the media, was open and notorious. Today the activities are more covert and not as obvious, but they still exist. Finally after the filing of numerous complaints, the FBI and the SEC, have taken notice of this ongoing pattern of criminal activity. Certain individuals have been indicted including noted short sellers and both current and former government agents (see articles listed below). Certain media journalists have now come under scrutiny and are being closely monitored by both private and governmental agencies.

We have taken it upon ourselves to write this series of articles expressing our views and opinions and as such have been victimized by intimidation and threats from certain participants in the criminal enterprise and their attornies. Irregardless of these attempts of intimidation, we will continue to report on what we believe to be criminal activity directed at publicly traded companies and innocent investors. We will stand up for the true victims.

As a friend once stated, "the wheels of justice turn slowly, but they do turn". It does not matter who you are, or even if your boss is the mayor of a major U.S. city! We will not be intimidated!




The above report was prepared and published by Asiavest-China and translated to English from the original Chinese report.
All rights reserved. Any copying, distribution, or other use, must be with the written approval of Asiavest-China.



Copyright 2003 Asiavest Investigative Services. All Rights Reserved.




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THE FOLLOWING PRESS RELEASE HAS BEEN POSTED WITH PERMISSION OF WADE COOK FINANCIAL CORPORATION. THE PRESS RELEASE SERVES AS AN EXAMPLE OF HOW SOME PUBLIC COMPANIES PERCIEVE CERTAIN MEDIA PUBLICATIONS.

Thursday August 8,2002 8:38 pm Eastern Time


Press Release


SOURCE: Wade Cook Financial Corporation


Wade Cook Issues Statement about Bloomberg Reporter David Evans



SEATTLE---Aug. 8, 2002--Wade Cook, President and CEO, Wade Cook Financial Corporation (OTCBB:WADE - News) is issuing a statement concerning the repeated half-truths, omissions, misrepresentations, and exclusively negative reporting perpetrated by Bloomberg Reporter David Evans, as particularly evidenced in his articles of August 7th and 8th, 2002.


In these articles, David Evans referred to a recent Form 8-K filed by the company wherein it was reported that members of its board had resigned. Cook's statements were clear, "Responsible reporting would have included the fact that in the same recent filing he referred to, the company '...denies the allegations made in the attached letter of resignation and disagrees with many of the views expressed in Ms. Leysath's letter....' Even in a cursory read of Ms. Leysath's letter, the name-calling, and lack of professionalism or constructive input, would cause any reader to seriously question the veracity of her allegations."


Cook continued indicating, "Mr. Evans cites that resignations of Board Members '...follow the resignation of Chief Financial Officer Cynthia Britten in March....' This is an incredible stretch to even suggest any connection; there were THREE MONTHS between these unrelated events. Ms. Britten resigned for personal reasons and even cited physical health as her reason, as previously reported by Mr. Evans himself on March 25, 2002. Mr. Evans also makes a gross miscalculation in attempting to connect Ms. Britten's resignation with a totally unrelated inquiry."


A company spokesperson stated, "Ms. Leysath's resignation letter made no reference to her not having a college degree, and contained no comment that she therefore '...had no business being on that board.' Even though these comments were not in her letter of resignation, executive management cannot agree with the notion that all Board Members of any publicly traded company must have college degrees. To so disallow any and all persons to become Board Members of publicly traded companies is incredibly short-sighted, and would result in a disastrous blow to the effective running of corporate America."


"Unfortunately for the truth-seeking public, Mr. Evans refuses to provide readers with current information about many a company's situation," says Robert Hondel, WCFC, COO. "As in this instance, he only makes a reference to 2001 information concerning the company's stock portfolio value. Had he sought out company officials, he would have learned the current and ACCURATE information that, even by using the FTC's standards, the company's stock portfolio value had INCREASED. As long as we're setting the record straight, we must correct the misstatement made by Mr. Evans that Ken Roberts was '...a former CFO of Wade Cook.' This is another flat out lie espoused by David Evans. Kenneth Roberts has never been the CFO, of WCFC or any of its subsidiaries. This is indicative of the kind of false information he is constantly disseminating about our company."


Cook concluded: "Our company has indeed suffered its share of challenges over the last year. The earthquake and resultant flooding of February 2001 caused major damage to the building and business operations; the public's perception of the current stock market has definitely reduced customers' willingness to invest in financial education; and the September 11, 2001 terrorist attack -- have all been outside the control of the company yet impacted business. Executive management has, nevertheless, demonstrated fiscal responsibility by initiating dramatic steps to streamline expenses, discontinue unprofitable subsidiaries, and continue its concerted emphasis on our core business. We are confident that we can continue to make a profit at this income level, and expect to do so as we grow into the future. We remain committed to enhance shareholder value."


For additional information about Wade Cook Financial Corporation visit Investor Relations at www.wadecook.com, or contact Carl Sanders at 206/901-3161.


This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. For factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, please see the "Risk Factors" described in Exhibit 99.2 to the company's 10-Q Quarterly Report for March 2002, and in other filings on file with the SEC, which Risk Factors are incorporated herein as though fully set forth. The Company undertakes no obligation to update or revise forward-looking statements to reflect changes assumptions, the occurrence of unanticipated events or changes to future operating results.








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MESSAGE BOARDS AND CHAT ROOMS

AN EXCLUSIVE REPORT



THIS IS PART I OF A THREE PART SERIES DEALING WITH MESSAGE BOARDS AND HOW THEY ARE USED BY COMPANIES, THE MEDIA, INVESTORS, AND CRIMINALS, TO MANIPULATE STOCK PRICES. THIS IS NOT FICTION, IT IS A REALITY.


There are a variety of financial message boards and chat rooms available on the internet. The most popular of these boards are Yahoo, Silicon Investor, and Raging Bull. Pick out a trading symbol, almost any trading symbol and you should be able to find an appropriate message board or chat room. When you find the right board you may find everything from professional pump and dump artists to criminals that have [naked] shorted the stock you have selected (remember shorting a stock is not illegal, but naked shorting is!). Profound statements such as THIS STOCK WILL SOON BE HALTED to NEW SALES ARE GOING TO PUSH THIS STOCK PRICE THRU THE ROOF, will be found posted on many of these message board sites. Some of the posters are sincere investors and others are outright criminals. Most posters use screen names or aliases to protect their true identity. As you search through the various message boards you will find such aliases as PUMPANDDUMP, MMMARY, iamgumby,tidewaters, janiceshell, janice456, scion, stockwizzard, truthseeker, scambuster, mamabear, pluvia, observer, backman, 200mph, tooldude, ripalips, riplipz, pilapir (ripalip backwards), and the list goes on and on. In many cases, the same poster may have an unlimited number of aliases and can often be found on message boards, posting and answering messages to themselves under various aliases. It is also common to share passwords with associates, allowing for numerous individuals to post under a "common" screen name. They would like you to believe that their motivation for posting on the boards is to either steer you towards a great investment, or alert you to a scam. The reality is that "most" have a self interest for posting and in most cases that self interest can be measured in monetary terms. Many of these posters are even compensated to post on the boards by individuals, market makers and companies attempting to manipulate certain stocks.
The boards are monitored by a variety of governmental and quasi-governmental agencies such as the Securities and Exchange Commission and the Federal Bureau of Investigation. We ourselves, generally will have investigators monitoring various message boards and chat rooms, at any given time. Our investigators get to know people by surfing and reading a history of their posts. We are assisted in this effort by certain resources provided by various message boards. The primary concern in monitoring these message boards, is to protect the interests of our clients. In addition, monitoring of the boards is often times a source of information utilized in conducting our investigations.

Never believe what is posted on public message boards, do your own due diligence. The reason for this is that there is no pre-verification process for information posted on these message boards and it is a fact that many of the posters are fraudsters, stock manipulators, convicted felons, vindictive ex-employees, people who have lost money on a certain stock and outright criminals. Basically they can post whatever they like, with little or no recourse. Most posters will hide behind the First Ammendment of the Constitution. Others plead ignorance, which in many cases is very applicable!

Control over what is posted on public message boards is governed by First Amendment Rights and the general right to freedom of expression. There have been a number of lawsuits initiated against message board posters and those suits have generally been decided in favor of the posters (Defendants). Often times you will find posters claiming to have been libeled, although the courts have held that an anonymous poster can not be legally libeled.

Our general opinion of message board posting is that in many instances the postings tend to victimize the company or harm sincere investors. The negative aspects certainly appear to outweigh the positive. Because of recent criminal cases, there has been more attention directed to message board postings, by certain enforcement agencies. Also, new computer technology both in the governmental and private sectors has allowed for the shield of anonymity to fade away on many message board posters. The value in identifying message board posters is that when and if they cross the line between freedom of expression and criminal activity, they can appropriately be dealt with. Many posters fall in the category of being outright criminals. These are the ones that feel hurting a company or investors is nothing more than a financial game, until they cross the line and feel the long arm of the law and the rath of corporate entities that fight back. In our opinion, public message boards are one of the most flagrant facilitators for stock manipulation.



Copyright 2003 Asiavest Investigative Services. All Rights Reserved.




MESSAGE BOARD POSTERS

Update 1 EXCLUSIVE

Message boards such as Yahoo and Silicon Investor give investors the opportunity to share their views and comments as they may relate to a specific stocks or general investing. It also allows vindictive former employees, competitors, stock manipulators and others to publicly post their negative messages. Negative message posters are generally referred to as "bashers". In most cases these negative posters have "shorted" a certain stock and want to do all that they can to see the stock price move downward. You will find that most negative posters generally work in teams and will often exchange passwords with each other.

When a certain stock comes under fire by groups of negative posters, there is almost always a negative effect on the company that is under attack. The negative posters or bashers will usually have a specific plan of attack. Not only will they post negative messages, they will also send messages to the SEC and other governmental agencies with unfounded and baseless allegations. They will often times contact suppliers and customers of the targeted company and flood them with negative information about the targeted company. The plan of the basher is to create havoc and cause sincere investors to lose confidence in the targeted company. In most circumstances negative posters are loosely organized although they rarely work alone. The negative posters are easy to find and will generally attack companies with weak fundamentals. In many cases they will work hand in hand with journalists, who thrive on negative journalism and hatchet job articles.

Is posting negative information about a company on public message boards illegal? Absolutely not, but there are applicable rules and laws that apply to the posting of information on public message boards. Intentional misinformation is actionable by governmental authorities, especially if it has an effect on the trading price of a security. You will find that all message boards and chat rooms have detailed terms of service (TOS). These are the basic rules that posters must adhere to when posting on specific sites. When a poster violates the TOS, there is a procedure to follow for reporting the said violation to the service provider. Our investigators have used this procedure very effectively and have been directly responsible for having certain postings removed from message boards (ones that were in violation of the TOS) and in many cases we have been effective in removing posters from message boards, for violating the TOS. Almost all message boards will have an icon to report terms of service violations. What we have found to be effective is to report the TOS violations to the service provider and then we will generally follow up with a letter from our legal staff which documents the TOS violations and their effect. This entire process takes about ten days and has proven to be very effective. Message board bashing is not common to only U.S. listed companies. Stock bashing coupled with naked shorting has been a very common occurrence with companies listed on various exchanges in Taiwan, China, Singapore, and Hong Kong; and have had a much more devastating effect than in the U.S. Most of our work has revolved around working with public companies in Asia.

Some basic rules of thumb in dealing with negative posters is to never directly interact with them. They are not your friends. They are not your pen pals. They generally lie and mis-represent the truth. Generally they are posting with the specific intent of hurting the company, financially and ultimately hurting your investment. Never engage in e-mail communication with the bashers and never ever base an investment decision on information posted on public message boards. Do your own independent due dilligence before investing.

This exclusive report has been prepared by Asiavest investigators: Andy Chen (Taipei), Joyce Lu (Beijing) and Frank Taylor (Los Angeles).



Copyright 2003 Asiavest Investigative Services. All Rights Reserved.




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Mob Muscles in on Market



By GREG B. SMITH
Daily News Staff Writer
Sunday, September 10, 2000
When Robert Gallo applied to be a registered stockbroker, he mentioned his only previous experience was as a labor foreman. He did not say anything about his reputed association with one of the nation's largest crime families, New York's Genovese clan.

Mafia-run stock-market firms focus on violence and ripping off clients.

Once Gallo joined the Monitor Investment Group at 20 Exchange Place, he acted in a manner more consistent with a character in "The Sopranos" than someone who keeps track of "Moneyline News Hour."

On June 14, Gallo was indicted along with 119 others in the biggest securities fraud case in U.S. history. Since then, law enforcement officials and financial regulators have come to believe the mob's influence on Wall St. may be even greater than they once supposed.

The five New York Mafia families, say authorities, have figured out that the current bull market has made it ripe for the picking. Officials see increasing cooperation among crime families to divide up the Wall Street pie.

"They are getting more together," said Barry Mawn, director of the FBI's New York office. "They're apt to be taking advantage of the good times. They know how we look at them. If they can branch out in a new area where we're not as aware, that's to their advantage."

Investigators, prosecutors and regulators with the National Association of Securities Dealers and the Securities and Exchange Commission all agree that the mob has lurked at the margins of Wall Street for years.

But now for the first time, prosecutors say, a mob boss is receiving a per share "mob tax" in a stock scam.

Alphonse (Allie Boy) Persico, reputed acting boss of the Colombo crime family, is getting 6 cents for every share the mob secretly controls in various pump-and-dump schemes, prosecutors allege.

Assistant U.S. Attorney Patrick Smith, who is leading the 120-defendant mob-on-Wall-Street case for Manhattan U.S. Attorney Mary Jo White, said the money is funneled through Persico's cousin, Frank Persico, a registered broker since the end of the last bull market in 1988.

Frank Persico, an alleged Colombo associate, along with Gallo and Vincent Langella, another reputed Colombo associate, represents the new breed of rising Mafia star, the wiseguy broker.

A review of their resume reveals a trail of fraud, as they jumped from one scam brokerage house to another. (All three have been indicted in various securities fraud schemes).

For instance, from January 1989 through December 1992, Persico worked at A.S. Goldmen & Co. He jumped to J. W. Barclay from March 1993 through February 1994, then to Meyers Pollack Robbins through June 1995. He moved to William Scott & Co. through November 1997, then to First Liberty Investment Group.

All of these firms have been implicated in massive fraud investigations by the Manhattan district attorney, the Manhattan U.S. attorney and the SEC.

A look at the history of these mob-connected brokerage houses shows how they operate within a few blocks of one another in the heart of Wall Street.

There, the crime families of New York who often can't agree on anything forged temporary and fragile alliances to make money.

At 17 State St., from 1993 through 1996, White Rock Investments was a cooperative agreement between the Bonanno, Colombo and Genovese families, according to Brooklyn federal prosecutors.

At 30 Broad St., in 1996 and 1997, Meyers Pollack Robbins was controlled by the same allegiance of the Bonanno, Colombo and Genovese families, according to court papers.

At 80 Broad St. and 84 William St., in 1996, First Liberty became a "joint venture" between the Bonanno and Colombo crime families, prosecutor Smith said.

And most recently, in 1998 through this June, DMN Capital Investments at 5 Hanover Square was run by the Bonanno and Gambino families, an indictment brought by a Manhattan federal grand jury alleges.

Investigators say Wall Street is a perfect spot for La Cosa Nostra strong-arm tactics: The mob is threatening white-collar yuppies, not longshoremen or Teamsters.

Typically, mobsters muscle in on a small brokerage house, then set up boiler rooms to hard-sell stock in classic pump-and-dump schemes.

Gangsters secretly own stock in worthless companies. They pay off corrupt brokers and stock promoters to pump up the stock's value by telling unwitting investors a company is about to go public or win a huge contract or be bought out by a major firm.

When the value rises significantly, they dump their stocks en masse, forcing the stock value to plummet and leaving in the lurch unwitting investors, who often are senior citizens.

When the scheme is exposed, they move on to another questionable firm.

"I call it the maggot run," said one regulator who spoke on condition of anonymity. "Brokers go from one sleazy firm to the next....They rip people off and they move on before they get caught or sued."

At DMN Capital in Hanover Square, a former employee who spoke to the Daily News on the condition of anonymity described the atmosphere as "one big party."

Run by reputed Gambino associate James Labate and Bonanno associates Salvatore Piazza and Jeffrey Pokross, DMN frequently threw parties with hookers at midtown hotels, spending wildly as it scammed unsuspecting investors through hard-sell tactics, said the former DMN employee.

Prosecutors allege that to keep the party going, the gangsters kept stock promoters in line by threats of violence.

When one promoter was suspected by DMN's gangster principals of being an informant, Labate who is not a broker allegedly knocked him out with one punch, then stripped off his shirt to see if he was wearing a recording device, according to prosecutor Smith.

Like many of the mob-run firms, there inevitably came a day when there was a falling-out among thieves.

At DMN, Colombo associate Persico shot up a DMN computer when he decided he had been ripped off, Smith alleged.

At Meyers Pollack, a 6-foot-4 Genovese associate slapped a broker in the face. The broker sought help from a Bonanno associate, and both families arranged a Feb. 12, 1997, "sitdown" at Abbracciamento Italian restaurant near Canarsie Pier in Brooklyn.

As a result, prosecutors allege, the Bonanno family agreed to let the Genovese family control Meyers Pollack.

At Monitor Investment Group, the pump-and-dump scam began to fall apart when one of the stock brokers who was beaten decided to fight back with a lawsuit.

Registered broker Robert Grant, who now lives at an undisclosed location in fear of mob revenge, said in court papers he had been working at Monitor for several months when broker Robert Gallo told him there was a staff meeting in the conference room.

On Jan. 19, 1996, Grant and a co-worker walked in and, without warning and for no stated reason,were attacked. Gallo and five other brokers beat the two men with fists and kicked them to the floor. One man was clubbed with an office chair; the other was bitten on the back.

Grant later taped Gallo, who apologized for the beating but said he believed Grant was about to skip to another firm and take customers with him.

He then recited dialogue that could have come from just about any mob movie imaginable.

"The way youse carried yourselves, that youse was looking to do the wrong thing to us," he said. "Sometimes, you know, cooler heads don't prevail, but unfortunately, you know, it's nothing personal between me and you."







Feds/Stock Fraud: 18 Defendants Face SEC Fraud Charges
2001-03-08 13:50 (New York)

Among those charged are Hunter Adams, 33, and Michael Reiter, 31, who authorities say are associates of the Gambino organized crime family. Other defendants who allegedly played a large role in the fraud scheme include Jonathan Winston, 35, Jason Cohen, 48, Gregg Adams, 26, and Robert Mangiarano, 27. Eighteen defendants also face civil fraud charges filed by the Securities and Exchange Commission.

The companies whose securities were allegedly manipulated include Ashton Technology Group Inc. (ASTN), EquiMed Inc. (EQMDE), IRT Industries Inc., Mama Tish's Italian Specialties Inc. and National Medical Financial Corp. (NMFS).

Authorities said the scheme centered around the activities of brokers at First United, which underwrote initial public offerings of at least two of the stocks involved. Principals of the firm would maintain control over large blocks of the stocks while using a variety of misrepresentations to push the securities on customers, according to the indictment.

In one instance, brokers drove the price of Ashton stock up to $15.25 a share before allowing it to plunge to less than a dollar, authorities said. Similar patterns were seen with some of the other stocks. In the end, thousands of customers throughout the U.S. - some of them sophisticated investors - lost tens of millions of dollars because of the fraud, according to Lynch, the Brooklyn U.S. Attorney.

Lynch called the case "a striking example of the rigged investment 'opportunities' that are presented to the unsuspecting investing public by 'boiler room' operations."


New York State Attorney General Eliot Spitzer, who announced the charges with Lynch at a Brooklyn press conference, said: "This is really a case of life imitating art - it's a combination of 'The Sopranos' and 'Boiler Room'. "Unfortunately, this isn't the movies or TV."





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DID THE NASD LOOK THE OTHER WAY?


Original BusinessWeek article

He was the head of a penny-stock brokerage that has had its share of regulatory problems. This, he has told friends, is what happened to him early in 1996:

Two men appeared at his midtown Manhattan office. They went for a walk. One man stuck a revolver in his ribs. ''From now on,'' he was told, ''you're retailing our stocks.''

According to sources, this man's brokerage did not retail the two mobsters' stocks. Nor did he contact regulators or the National Association of Securities Dealers. Instead, he got in touch with the only power that seemed to make sense: a protector in the Mob. Somehow, the problem was ''straightened out.'' Asked about the incident by BUSINESS WEEK, he responds: ''I don't want to get involved.''


If this penny-stock exec showed a less than civic-minded attitude toward law enforcement, it's understandable--particularly if the allegations of a 57-year-old former NASD official, Massood Gilani, prove valid. Gilani worked in the Special Investigations Unit of the NASD's New York office, checking complaints of improprieties and reporting them to his superiors for further action. He paints a picture of widespread indifference toward customer complaints that might have been a tip-off of Mob infiltration of Hanover Sterling & Co.

From 1992, when Gilani started working at the NASD in New York, until late 1995, when he left, there was disturbing talk in the hallways of the agency's New York office. ''The rumor was that some of these firms were run by the Mafia...the word was that some of them, including Hanover Sterling, were used to launder drug money,'' he says.

Gilani says he received an unusually large volume of complaints about Hanover from customers, most involving unauthorized trades--something Gilani suspected might have indicated stock ''parking.'' ''They were definitely pushing the stocks up, and it definitely looked like parking,'' says Gilani. From October, 1993, to June, 1994, he says in the suit, there were at least 31 customer complaints against Hanover, almost all alleging unauthorized trading. Among the complaints, he says, were several against Roy Ageloff, who Gilani says was widely known at the NASD to be the power behind the firm. Sources have told BUSINESS WEEK that Ageloff has ties to the Genovese crime family.

Gilani says he ''suggested that a wider investigation be conducted by enforcement and market surveillance.'' The response? ''I was told to mind my own business.'' At one point, he was told by a supervisor ''very bluntly that [the brokerages] pay your paycheck. You don't bite the hand that feeds you.''

NASD officials note that they took action against Hanover Sterling--but not until after Hanover went out of business. Gilani says that he urged the NASD to act long before the company folded--in time, perhaps, for regulators to act before its failure brought down the company's clearing firm, Adler, Coleman.

Gilani is hardly an impartial source: He was fired by NASD in 1995, and he's suing for racial discrimination. (NASD officials decline comment on the suit.) Still, his comments regarding the NASD's handling of Hanover Sterling are damning.

To be sure, Gilani hardly had much clout at the NASD, since he was in the doghouse much of the time. One lawyer pursuing his suit, Aegis J. Frumento of Singer Zamansky LLP in New York, notes that the Iranian-born Gilani ''agitated a great deal on discrimination and employment policies.'' Gilani feels he was ignored because of the ''corporate culture at the NASD.'' And if his tale of indifference proves correct, it would seem that the NASD is a far cry from being the Eliot Ness of Wall Street.

By Gary Weiss in New York




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INVESTIGATIVE FILES
INVESTIGATIVE NOTES/OPINIONS

Noted short seller and internet stock guru Anthony Elgindy has again been arrested by the Federal Government. As you will see, the charges are much more serious than his previous encounter with authorities. Elgindy has allegedly terrorized a variety of publicly traded companies since his last run in with the law. This time he has been charged with running a criminal enterprise (RICO). A criminal enterprise that involved at least one current and one former FBI agent. At the time of this writing, Elgindy had been released on bond and was awaiting trial.

Many have speculated that the arrest of Elgindy is only the tip of the iceberg and as such, the investigation continues. Elgindy and his "followers" have always claimed that they are doing nothing but exposing "scam" companies. Even if this were true, the means do not justify the ends. One cannot violate the law in order to expose violations of the law. One cannot corrupt public officials, intimidate corporate executives, extort companies for free shares, unlawfully record telephone conversations, commit interstate wire fraud and manipulate publicly traded companies, and then claim they were only exposing scams and fraud; especially while they were heavily trading in the firms that they were "exposing". Elgindy is an extremely talented trader, although he was his own worst enemy. He challenged corporate executives, threatened lawsuits against anyone that had a difference of opinion, drew attention to himself in the media and on public message boards, and gave the perception that he was untouchable. Many of his followers continue to follow in his footsteps. It is reported that private web sites are still being run by his former followers/associates, and many of his followers and co-conspirators continue to post on public message boards, attempting to threaten and intimidate posters that are not in agreement with their views. Following are articles relevant to the circumstances and arrest of Anthony Elgindy, as reported by the media.





Investor held amid Sept. 10 concerns

SAN DIEGO, May 25 (UPI) -- An Internet investment adviser charged with insider trading was being held without bail on a parole violation Saturday after federal prosecutors in San Diego raised questions about a stock-sales order he placed the day before the September terrorist attacks on the World Trade Center and Pentagon.
Amir "Anthony" Elgindy, 34, of Encinitas, faces charges in New York of allegedly taking part in a stock manipulation and extortion scheme with four other people, including two current and former FBI agents. Prosecutors, however, raised questions during a detention hearing Friday about what he might have known about the deadly attacks.
Assistant U.S. Attorney Ken Breen argued that Elgindy, a native of Egypt who now lives in a $2.2 million home in an upscale beach community north of San Diego, had ordered the sale of $300,000 worth of stock in his children's trust fund on Sept. 10, and at the same time had told a stockbroker that he was expecting an imminent drop of some 3,000 points on the stock market.
"Perhaps Mr. Elgindy had pre-knowledge of the Sept. 11 attacks," Breen said. "Instead of trying to report it, he tried to profit from it."
Authorities say Elgindy is a short-seller on the market, someone who profits by borrowing stock shares and selling them in anticipation of a price drop in the near future. Once the stock falls below the sale price, the short-sellers buy up shares to pay back the loan, keeping the difference.
Elgindy was named in a federal indictment unsealed in Brooklyn May 22 that alleged racketeering, insider trading, market manipulation and extortion. The scheme allegedly involved two New Mexico-based FBI agents who fed Elgindy confidential and potentially damaging FBI information about companies that he and two other traders would in turn use to set up short-selling transactions, or to extort money or stock out of the companies involved in exchange for his not posting the damaging details on his Internet tip services, InsideTruth.com and AnthonyPacific.com.
Elgindy has had scrapes with securities regulators in the past. The state of Ohio denied his request for a sales license on 1997 on the grounds he was "not of good business repute."
Breen also told the court that there was evidence that Elgindy had recently wired about $700,000 to Lebanon, possibly indicating he was preparing to flee the country.
U.S. Magistrate John A. Houston agreed to hold Elgindy pending further proceedings in San Diego June 6, however he said he would disregard the speculation about Elgindy's possible knowledge of the Sept. 11 attack. Houston said he was ordering Elgindy to remain locked up because ammunition found in his home was a violation of his parole on an earlier conviction.
Elgindy's lawyer, Jeanne Knight, said the Sept. 10 sell order was placed after the market closed and was routine in nature. She called the prosecution's speculation about Sept. 11 a form of racial profiling aimed at smearing her client.
"This is just like the case of Wen Ho Lee, who the government tried to charge with spying just because he was Chinese," she told the Los Angeles Times. "My client was being watched only because he is of Middle-Eastern descent."
Elgindy, who has been an active supporter of causes aiding Muslim refugees in Kosovo, apparently attracted the attention of the FBI in the days after Sept. 11 when investigators began combing stock market transactions for signs that the terrorists or their supporters had sold off holdings or made deals such as selling short in order to make a quick profit as the stock market fell.
"There is no solid link indicating a connection between Elgindy and Sept. 11," Jan Caldwell, the FBI's spokeswoman in San Diego, told the San Diego Union-Tribune. "Elgindy's name came up during the terror probe."





APPLIED DIGITAL SOLUTIONS CHAIRMAN AND CEO COMMENTS ON ARRESTS MADE IN ALLEGED STOCK MANIPULATION SCHEME


PALM BEACH, FL May 24, 2002 Richard J. Sullivan, Chairman and CEO of Applied Digital Solutions, Inc. (Nasdaq: ADSXE), an advanced technology development company, commented today on the recent arrest of five individuals, including two FBI agents, allegedly involved in a stock manipulation scheme that the company believes included ADSX shares. According to a May 22 Reuters article, the mastermind of the alleged short-selling stock scheme was Anthony Elgindy, owner and operator of www.InsideTruth.com.


Mr. Elgindy was charged with the short-selling of publicly traded stocks. According to the Reuters article, ADSX was a frequent target of Elgindy's InsideTruth.com commentary. An improper short-selling strategy involves an investor who puts out false rumors about a particular stock and then profits when the company's stock price falls.


Mr. Sullivan said: these arrests are welcome news but they are long overdue. If the allegations turn out to be true, and Applied Digital's shares were targeted, it is likely that the shareholders of Applied Digital have been hurt by this short-selling scheme. The fact that two FBI agents were apparently involved is especially distressing. We are delighted that the FBI has made these arrests and we hope that this will serve as a warning to others who might be tempted to engage in this kind of illegal stock manipulation.










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BREAKING NEWS BREAKING NEWS BREAKING NEWS



WEB OPERATOR FACES POSSIBLE INDICTMENT

25 Mar 2003, 10:07 AM EST



The man who ran the Web site for a penny-stock adviser accused of using information from the F.B.I. to manipulate stock prices was himself arraigned yesterday on securities fraud charges in federal court in Brooklyn.

The Web operator, Robert Hansen, is accused of making more than $100,000 on trades using information illegally obtained by a certain stock adviser.

The stock advisor reportedly sold tips through two Web sites, AnthonyPacific.com and Insidetruth.com. His subscribers paid hundreds of dollars a month for exclusive information about pending criminal investigations into small cap companies.



Mr. Hansen, 41, of Melbourne, Fla., had extensive access to the stock advisors tips, the government said. As an indication of Mr. Hansen's degree of involvement in the conspiracy to use F.B.I. information, prosecutors said yesterday that he admitted to a federal grand jury last October that one of his duties was to purge the archives of AnthonyPacific.com of any mention that information there was obtained through the F.B.I.



In an affidavit and complaint in support of arrest warrant unsealed Monday in United States District Court for the Eastern District of New York in Brooklyn, authorities claim Mr. Hansen conspired with Mr. Elgindy, making up to a potential $15,000 a month handling the short's Web site, that he made personal shorting profits of at least $100,000 on illicit information and that he perjured himself to an FBI agent last October before telling the truth the next day to a grand jury. (All figures are in U.S. dollars.)



In the current affidavit, FBI Special Agent David Sutherland notes the evidence against Mr. Hansen came from two main sources: a co-operating witness who pled guilty, presumably Mr. Cleveland, and corroboration from relevant records of Internet chat logs, law enforcement data bases and securities trading records.



The FBI affidavit notes Mr. Hansen, the president of Electronic Information Management Systems, a Web hosting service operated from his home, was the service provider for AnthonyPacific.com and Insidetruth.com. EIMS also received and processed subscription fees for the subscriber site, which had about 200 to 300 subscribers at any given time.



Special Agent Sutherland also notes he interviewed Mr. Hansen on Oct. 3.

"Hansen confirmed that he was the administrator of Elgindy's websites, that he frequently monitored the electronic conversations occurring in the chat room and that he sometimes traded the stocks that were discussed by Elgindy on the site," states the FBI agent in the affidavit.

"However, Hansen specifically denied that he had ever erased chat logs containing references to the FBI or otherwise containing material non-public law enforcement information."

The next day, Oct. 4, Mr. Hansen decided to tell the truth when he testified in front of a grand jury in Brooklyn. "Hansen admitted to the grand jury that at Elgindy's direction he had erased logs to delete sensitive information with reference to the FBI.



It has been reported that Hansen was a frequent poster on internet message boards such as Raging Bull, where he reportedly posted under the alias “EIMS2000”. A check of the alias “EIMS2000” noted over 1500 postings on various stock message boards including CIO, SEVU, BIOP, VLPI, RTNH, GENI, ECNT and MHUT. A review of some of those postings reflected numerous interactions with other posters. There were even references by EIMS2000 of him taking legal action against other posters that confronted him or disagreed with his point of view. Asiavest has obtained evidence showing that EIMS2000 posted personal information of other posters, in clear violation of the Raging Bull terms of service. In one case he posted a vehicle license plate reportedly belonging to another poster, whom many believed to be a witness in the Elgindy case. This particular posting put the "witness" in harms way. Was this an attempt to intimidate witnesses? Certainly all of this background information relevant to EIMS2000 will be carefully reviewed by investigating authorities, including the sources used by EIMS2000 to identify other posters. It may well be determined by a more indepth investigation, that law enforcement sources other than the FBI, were also accessed for non-public information. Was information illegally obtained through contacts in the LAPD? Were computers hacked? Were DMV records illegally accessed? Will the scope of the investigation be broadened to include members of the media? Only time will tell, as the saga continues!



It should be noted that Elgindy, Hansen, and the other co-conspirators have not yet had their day in court(one co-conspirator is co-operating with authorities) and until that time they should be considered innocent until proven guilty.



This report has been prepared from public records, discussions with witnesses and media reports: by Alice Liu of the Taipei office of Asiavest Investigative Services, Securities Division.



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MARKET MANIPULATION/SHORT SALES
January 8, 2001 Nancy A. Condon NASD Regulation Bars John Fiero, Expels Fiero Brothers, Inc., and Imposes $1 Million Fine For Illegal Short Sales, Market Manipulation and Extortion Washington, D.C.

NASD Regulation, Inc., today announced that an NASD Regulation Hearing Panel barred John Fiero, expelled his firm, Fiero Brothers, Inc. and ordered a fine of $1 million for engaging in a fraudulent short selling, extortion and manipulation scheme. On Feb. 6, 1998, NASD Regulation filed a complaint against Fiero and other co-conspirators alleging that they colluded to drive down the price of 10 Nasdaq securities underwritten by now-defunct Hanover Sterling & Co. during January 1995, and February 1995, through illegal short selling of those securities. This "bear raid" scheme involved Fiero and others obtaining nearly 1 million shares, units and warrants from Hanover Sterling at below market prices through the use of threats and coercion to cover their illegally-created short positions.

Ultimately, the short selling scheme led to the failure of Hanover Sterling on Feb. 24, 1995, which was quickly followed by the collapse of its clearing firm, Adler, Coleman Clearing Corp., and the appointment of a Security Investors Protection Corporation trustee for Adler Coleman. In the decision, the Hearing Panel found that Fiero participated in an extortion scheme by purchasing $12.1 million of securities from Hanover, at prices $866,500 below the then-prevailing market price.

Fiero used these securities to cover his firm’s short positions, and resold the rest, primarily to other short sellers involved in the scheme. Hanover agreed to sell the discounted securities to Fiero in attempt to end the shorting of the stocks. The Hearing Panel also found that Fiero violated short selling rules from Jan. 20 through Feb 23, 1995 by failing to make the required affirmative determinations prior to engaging in short sales of the Hanover Sterling stocks. NASD rules restrict "naked" short sales, that is selling a stock short without ensuring that the stock can be borrowed or otherwise provided for by settlement date, also known as an affirmative determination. The Hearing Panel concluded that Fiero was not entitled to the market maker exemption from the affirmative determination rule during the time his firm was registered as a market maker because it was not engaged in bona fide market-making transactions. Fiero manipulated the market for the Hanover securities through his purchases and resale of the extorted stock and his illegal, naked short selling. Unless the matter is appealed to NASD Regulation National Adjudicatory Council (NAC), or called for review by the NAC, the Hearing Panel's decision becomes final after 45 days. The sanctions imposed by the Hearing Panel are not effective during this period. If the decision is appealed or called for review, the sanctions may be increased, decreased, modified, or reversed. The litigation of this case was conducted by the Enforcement Department with assistance from NASD Regulation Market Regulation Department. This matter was investigated by the Market Regulation Department with assistance from the Enforcement Department and NASD Regulation New York, Denver, Atlanta and Chicago Offices. Investors can obtain more information and the disciplinary record of any NASD-registered broker or brokerage firm by calling (800) 289-9999, or by sending an e-mail through NASD Regulation Web Site, www.nasdr.com . NASD Regulation oversees all U.S. stockbrokers and brokerage firms. NASD Regulation, The American Stock Exchange? NASD Dispute Resolution, Inc. and The Nasdaq Stock Market, Inc., are all subsidiaries of the National Association of Securities Dealers, Inc., the largest securities-industry self-regulatory organization in the United States.



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STOCK MANIPULATION-SHORTING



The Short & Distort Scheme
Stage I: Monitoring: In stage I of a Short & Distort scheme, Short groups Monitor spikes in volumes on stocks with no rumors.

Stage 2: Flagging: Shorts Flag stocks that run up then sits back and wait patiently for their time.

Stage 3: Preparation: The Shorters research the company and develop their Distortion of the rumors to be used later.

Stage 4: Actual Shorting: The shorts step in, selling on every possible up tick. This is the Reverse of front loading. Preparations are made to attack the guy who had earlier written positively about the company and take out, discredit, any new long-term champions or messengers.

Stage 5: Distortion Campaign: The shorts step in and increase selling on every possible up tick. Just as with the pump, newsletters, e-mail, PR firms against P & D, etc. are simulated. Expertise in the field is recruited for credibility. Any possible twist using POS (Purposely Omitted Syntax) and PAS (Purposely Added Syntax) is conveniently used on every possible angle. If the POS/PAS is discovered then attack the messenger.

Above all control the message boards. The group clutters the message boards so no positive information can be readily found. Justification is the Value of the Company in the market. Projections of $0.00 worth and loss projections of 100%.

Note: The market manipulator will do everything in his/her power to keep buyers OUT OF THE STOCK. Cut your losses is touted to stimulate fear. You bought higher but now they need you to sell lower.

Stage 6: Pressure: The shorts have taken it too far. The volume is increasing and the price is not effectively dropping. A stalemate occurs. Personal attacks increase. Threats of legal action, SEC involvement, and yes even death threats increase. Increased secret IDs are employed to increase the cluttering, personal attacks and the distortion. So begins a string of lies that run for as long as one's stomach can take it. Desperately playing on the "you have been had" scenario. Any new news will be hit hard by Shorters to kill any interest.


Note: Watch the volume not the share price. A market manipulator will have various brokers buying and selling the stock to give the APPEARANCE of increasing volume but the price goes down. Thus stimulating the story the company is selling or an off shore Reg S or other convenient scenario. Watch for large blocks that show up but have an MM special code, crossovers, etc.

Stage 7: The Cover: Without warning, the buying pressure is too much and the short begins to cover. Short covering combined with new investors buying into the stock causes the stock to go up. Often the whole thing starts again. Just a vicious cycle sometimes. Comment: While all questionable MM activities may not be able to be stopped, widespread knowledge of their modus operandi may discourage some of their more blatant behavior. They know the investing public is aware of what they are doing and looking over their shoulder, while they fight to reform a system corrupt enough to permit such widespread MMM in the first place.




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