Peter Hug

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

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

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 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

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.