Indictment in USA v. Regis Possino, Grover Henry Colin Nix IV, Tarun Mendiratta, Ivano Angelastri, Mark Harris, Edon Moyal, Joseph Scarpello, Julian Spitari, Peter Dunn, William Mackey, and Joseph Davis, a.k.a. Joey Davis at the U. S. District Court for the Central District of California.
Bermuda-registered Mezzanine Capital Ltd., which appears to be involved in the manipulation of penny stocks in the US, has reported a loss of $10.57 million for the 12 months ended June 30, 1999 after writing off $10.1 million of German bonds. The company, whose shares are listed on the Bermuda Stock Exchange, had disclosed in 1998 that the bonds, which it acquired for one million of its common shares, might be worthless but did not decide to write off the investment until the current fiscal year.
A Bermuda Stock Exchange-listed company whose minority shareholders include subsidiaries of the Bank of Bermuda and financial services firm Lines Overseas Management is caught up in what appears to be a scheme to defraud investors on the NASDAQ over-the-counter market, Offshore Alert can disclose. We have uncovered an astonishing list of proven abuses and allegations of fraud and dishonesty against individuals and companies associated with Bermuda-registered investment holding company Mezzanine Capital Ltd., including its Chairman and President, Eric Chess Bronk, although we have found nothing to incriminate LOM or the Bank of Bermuda.