Global Asset Allocation Ltd.

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    Investors in alleged stock scam asked to fund ‘asset recovery’ effort

    October 31, 2001
    Investors who bought shares in a Bahamas-based firm whose principals promptly closed shop and disappeared are being asked for $100,000 to finance what is being described as an 'asset recovery' effort.It might be a case of throwing good money after bad, however, given the track record of the people spearheading the venture.

    Bahamas mail-drop firm raises capital in illegal offering, then folds

    September 30, 2001
    Bahamas-based mail-drop firm ASAP Services Ltd., which only 10 months ago was selling unregistered shares that valued the tiny firm at $135 million, has collapsed after four years in business. Visitors to the firm's web-site at www.asapbahamas.com are greeted with an announcement stating that "as of August 31, 2001, A.S.A.P. Services, Ltd. is officially closed for business".

    Unregistered offering in the name of Bahamas mail-drop firm

    January 31, 2001
    Bahamas-based A.S.A.P. Services Ltd., which provides mail-drop and 'virtual office' services, is conducting an unregistered share offering that values the four-year-old firm at $45 million.Investors are being solicited to invest in a "pre-IPO" offering of five million shares - said to represent 11 per cent of the firm's common stock - at $1 per share.