Interlink-US-Network, Ltd. (fka IUSN)

[IPO$]

Guys in jail on thus one. Terrible.

[Renee]

IUSN revoked:

http://www.sec.gov/litigation/admin/2013/34-68763.pdf

[Renee]

IUSN: SEC Suspension:

http://www.sec.gov/litigation/suspensions/2012/34-68483.pdf

ORDER:

http://www.sec.gov/litigation/suspensions/2012/34-68483-o.pdf

ADMIN Proceeding:

http://www.sec.gov/litigation/admin/2012/34-68485.pdf

[Rich]

SEC Charges Phony Company President for Role in Facilitating Fake Investment in Penny Stock Company
FOR IMMEDIATE RELEASE
2012-144

Washington, D.C., July 25, 2012 — The Securities and Exchange Commission today charged a New York man for his role in a scheme to disseminate news of a fake investment to boost a struggling penny stock company.


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

Additional Materials
SEC Complaint

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

The SEC alleges that Ronald Feldstein pretended to be the president of a private company, LED Capital Corp., and entered into an investment agreement with penny stock issuer Interlink-US-Network Ltd. Feldstein in fact held no such position at LED Capital Corp. and was merely being paid by Interlink’s management to play the role of a purported Interlink investor so they could spread news of a much-needed capital infusion. Feldstein then helped Interlink disseminate the false information in an SEC filing.

The SEC charged Interlink last year as part of a complaint against several perpetrators of an alleged green product-themed Ponzi scheme.

“Feldstein was nothing more than a fake president for hire who schemed with a public company to tout news of a sham investment and deceive investors,” said Andrew M. Calamari, Acting Regional Director of the SEC’s New York Regional Office.

According to the SEC’s complaint filed in U.S. District Court for the Southern District of New York, Feldstein purportedly committed LED Capital Corp. – which in reality had no operations or assets – to pay $6 million for a minority block of Interlink shares that had an actual market value of less than $1.2 million. Although Feldstein knew the actual owner of LED Capital Corp., he concealed the purported contract committing his company to pay more than a 500 percent premium for a minority block of shares in a penny stock company that had liabilities far exceeding its assets. When SEC investigators spoke with the actual owner, he testified that he has been the sole officer-stockholder of LED Capital Corp. and never had any knowledge of the purported agreement. He testified that Feldstein had no authority or permission to act on behalf of the company, which he said doesn’t and likely never would have $6 million available to it. For his performance as the phony president of LED Capital Corp., Interlink awarded Feldstein shares of its common stock that had a market value of more than $400,000.

The SEC alleges that when Interlink sought to inform the stock market of the remarkable investment, Feldstein offered crucial assistance in developing the substance of a Form 8-K filing with the SEC to disclose the purported agreement. After Interlink’s CFO e-mailed Feldstein a draft Form 8-K for his review, Feldstein responded “Not good” and thereafter discussed the contents with Interlink’s CFO. Based on Feldstein’s comments, the agreement was instead called a “memorandum of understanding.” Feldstein then separately signed a memorandum of understanding on behalf of “LED Capital LLC” – a company similar in name to LED Capital Corp. but that does not actually exist. On Dec. 14, 2010, Interlink filed with the SEC the version of the Form 8-K that reflected Feldstein’s input.

The SEC’s complaint charges Feldstein with aiding and abetting violations by Interlink and its President of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder as well as violations by Interlink of Section 13(a) of the Exchange Act and Rules 12b-20 and 13a-11 thereunder. The Commission seeks injunctions from future violations of these provisions, disgorgement of ill-gotten gains, and a monetary penalty.

The SEC’s investigation was conducted in the New York Regional Office by Celeste Chase and Daniel Michael, and the litigation will be conducted by Howard Fischer and Daniel Michael. The SEC acknowledges the assistance of the U.S. Attorney’s Office for the Eastern District of New York and the Federal Bureau of Investigation with this matter.

http://www.sec.gov/news/press/2012/2012-144.htm

[Renee]

Interlink-US-Network:

http://www.sec.gov/litigation/litreleases/2012/lr22424.htm

[samsamsamiam]

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 22231 / January 23, 2012

Securities and Exchange Commission v. Eric Aronson, Vincent Buonauro, Jr., Robert Kondratick, Fredric Aaron, PermaPave Industries, LLC, PermaPave USA Corp., PermaPave Distributions, Inc., Permeable Solutions, Inc., Verigreen, LLC, and Interlink-US-Network, Ltd., Defendants, and Caroline Aronson, Deborah Buonauro, DASH Development, LLC, Aron Holdings, Inc., PermaPave Construction Corp., Dymoncrete Industries, LLC, Dymon Rock LI, LLC, and Lumi-Coat, Inc., Relief Defendants, Civil Action No. 11 Civ. 7033 (S.D.N.Y. filed Oct. 6, 2011)

Court Enters Default Judgment Against PermaPave Industries, LLC and Other Related Companies in Ponzi Scheme Case

The Securities and Exchange Commission today announced that, on January 19, 2012, the Honorable Jed S. Rakoff of the United States District Court for the Southern District of New York entered a default judgment that imposes a permanent injunction against future violations of the registration and antifraud provisions of the federal securities laws against PermaPave Industries, LLC, PermaPave USA Corp., PermaPave Distributions, Inc., and Verigreen, LLC (the PermaPave Entities) and that also imposes a permanent injunction against future violations of the reporting and antifraud provisions of the federal securities laws against Interlink-US-Network, Ltd.

As to monetary relief, the judgment orders the PermaPave Entities to pay disgorgement, prejudgment interest, and civil penalties and orders Interlink to pay civil penalties. The judgment also orders relief defendants DASH Development, LLC, Aron Holdings, Inc., PermaPave Construction Corp., Dymoncrete Industries, LLC, Dymon Rock LI, LLC, and Lumi-Coat, Inc. to disgorge the ill-gotten gains they received from defendants.

This judgment resolves the Commission’s claims and grants all relief sought against the PermaPave Entities, Interlink, DASH, Aron Holdings, PermaPave Construction, Dymoncrete Industries, Dymon Rock, and Lumi-Coat in a civil action filed on October 6, 2011.

The Commission’s Complaint alleged that, from 2006 to 2010, the PermaPave Entities raised more than $26 million from the sale of promissory notes and “use of funds” agreements to over 140 investors. Their management told investors that there was a tremendous demand for the product that the PermaPave Entities ostensibly sold – permeable paving stones – and that investors would be repaid by the profits generated by the guaranteed sales of this product. In reality, however, there was little demand for the product, and defendants used investor proceeds to make “interest” and “profit” payments to earlier investors and to fund management’s lavish lifestyles. The management of the PermaPave Entities also caused Interlink to issue a Form 8-K stating that a company that had never heard of Interlink had agreed to invest $6 million in Interlink.

The judgment (i) permanently enjoins the PermaPave Entities from future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Exchange Act Rule 10b-5, (ii) permanently enjoins Interlink from future violations of Sections 10(b) and 13(a) of the Exchange Act and Exchange Act Rules 10b-5, 12b-20, and 13a-11, (iii) orders the PermaPave Entities to pay $7,734,983 in disgorgement, $281,268 in prejudgment interest, and $7.7 million in civil penalties, (iv) orders Interlink to pay $375,000 in civil penalties, and (v) orders relief defendants DASH, Aron Holdings, PermaPave Construction, Dymoncrete Industries, Dymon Rock, and Lumi-Coat to disgorge ill-gotten gains received from defendants totaling $4,236,252 and prejudgment interest totaling $214,233.

The Commission’s civil action continues against Defendants Eric Aronson, Vincent Buonauro, Robert Kondratick, Fredric Aaron, and Permeable Solutions, Inc. and Relief Defendants Caroline Aronson and Deborah Buonauro.

For further information, see Litigation Release No. 22117 (Oct. 6, 2011).





http://www.sec.gov/litigation/litreleases/2012/lr22231.htm

http://www.sec.gov/litigation/litreleases/2011/lr22117.htm

http://www.sec.gov/litigation/complaints/2011/comp22117.pdf

[CluelessStockJunkie]

PONZI scheme............so who knows.

[IPO$]

will this ever trade again?

[samsamsamiam]

SEC Files Emergency Action to Halt Green-Product Themed Ponzi Scheme
http://www.sec.gov/news/press/2011/2011-201.htm
FOR IMMEDIATE RELEASE
2011-201

Washington, D.C., Oct. 6, 2011 – The Securities and Exchange Commission announced that it obtained an emergency court order today to halt a Ponzi scheme that promised investors rich returns on water-filtering natural stone pavers, but bilked them of approximately $26 million over a four-year period.

Additional Materials
SEC Complaint
The SEC’s complaint, filed in U.S. District Court for the Southern District of New York, alleges that convicted felon Eric Aronson and others defrauded investors in PermaPave Companies, a group of firms based on Long Island, N.Y., and controlled by Aronson.

About 140 individuals, many working in the construction or landscaping business, invested in the scheme between 2006 and 2010, the SEC alleged. Investors were told that PermaPave Companies had a tremendous backlog of orders for pavers imported from Australia, which could be sold in the U.S. at a substantial mark-up, yielding monthly returns to investors of 7.8% to 33%. In reality, the complaint states that there was little demand for the product, and the cost of the pavers far exceeded the revenue from sales.

Lacking the profits promised to investors, Aronson and two other PermaPave Companies executives, Vincent Buonauro Jr., and Robert Kondratick, used new investments to make payments to earlier investors and then siphoned off much of the rest for themselves, buying luxury cars, gambling trips to Las Vegas, and jewelry. In addition, the complaint alleges that Aronson used investors’ money to make court-ordered restitution payments to victims of a previous scheme to which he pleaded guilty to conducting in 2000.

“Aronson and his associates operated the PermaPave Companies as a classic Ponzi scheme,” said George S. Canellos, Director of the New York Regional Office. “They created the façade of a profitable business, promised investors extraordinary rates of return, and used much of their investors’ money to fund their own lavish lifestyle.”

The U.S. Attorney’s Office for the Eastern District of New York, which conducted a parallel investigation of the matter, today filed criminal charges against Aronson, Buonauro, and Kondratick, who were arrested earlier today.

According to the SEC’s complaint, when investors began demanding money owed to them, Aronson accused them of committing a felony by lending the PermaPave Companies money at the interest rates he promised them, which he suddenly claimed were usurious. Aronson and his attorney, Fredric Aaron, then allegedly made false statements to persuade investors to convert their securities into ones that deferred payments owed them for several years.

The SEC also alleges that the defendants used some of the money raised through the Ponzi scheme to purchase a publicly traded company, Interlink-US-Network, Ltd. Several months later, the SEC said Interlink issued a Form 8-K, signed by Kondratick, which falsely stated that LED Capital Corp. had agreed to invest $6 million in Interlink. According to the complaint, LED Capital Corp. did not have $6 million and had no dealings, let alone any agreements, with Interlink.

U.S. District Court Judge Jed S. Rakoff granted the SEC’s request to freeze assets of the defendants and eight relief defendants. The SEC is seeking preliminary and permanent injunctions against the defendants, and to have them return their allegedly illicit profits with prejudgment interest, and pay civil monetary penalties. In addition, the SEC seeks to bar Aronson, Kondratick, and Aaron from participating in penny-stock offerings and from serving as officers or directors of public companies.

The SEC’s complaint charges Aronson, Kondratick, Buonauro, the PermaPave Companies, and Interlink with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and charges Aaron with aiding and abetting the Section 10(b) and Rule 10b-5 violations. The complaint charges Interlink with violations of Section 13(a) of the Exchange Act and Rules 12b-20 and 13a-11 thereunder, and charges Aronson, Kondratick, and Aaron with aiding and abetting these violations. The complaint also asserts violations of Section 5(a) and 5(c) of the Securities Act as to Aronson, Buonauro, and the PermaPave Companies and violations of Section 15(a) of the Exchange Act as to Aronson and Buonauro.

The SEC acknowledges the assistance of the U.S. Attorney’s Office for the Eastern District of New York and the Securities Fraud Squad of Federal Bureau of Investigation in connection with this matter.

Celeste Chase, Daniel Michael, and Desiree M.C. Marmita, conducted the SEC’s investigation; Howard Fischer of the SEC’s New York Regional Office will lead the litigation.

# # #

For more information about this enforcement action, contact:

Andrew M. Calamari
Associate Regional Director, New York Regional Office
[phone]

Celeste A. Chase
Assistant Director, New York Regional Office
[phone]

Howard A. Fischer
Senior Trial Counsel, New York Regional Office
[phone]

# # #



http://www.sec.gov/news/press/2011/2011-201.htm

[Chevy123]

yikes.....2 cents...wonder what ever happened to the permapave thing....wonder if they are out of business also....

[stockboy_1972]

this is just a pathetic story, can not believe management would be so arrogant as to not even make an announcement in a year, no updates, etc... just pathetic

[CluelessStockJunkie]

Been a pink for some time !!

[Chevy123]

Went from .OB to .PK.........more depressing news......

[stockboy_1972]

the site i go to did otcmarkets.com

[CluelessStockJunkie]

Level 2 is not showing that

[stockboy_1972]

they dropped the "E"?!?!?!

[stockboy_1972]

can't reply privately, non paying member
i will follow it though

[stockboy_1972]

ouch, well, if you ever get any good tips......

[CluelessStockJunkie]

Yeah this set me back a cpl $100K so it will take a bit to make it back.

[stockboy_1972]

Well, good luck with all your other investments

[CluelessStockJunkie]

Gone.

[stockboy_1972]

you sold your position?

[CluelessStockJunkie]

Yeah selling............I am out.

[stockboy_1972]

been away for 10 days, I see I really missed alot
no trading inspite of all that news

[CluelessStockJunkie]

Didnt go anywhere, so that means dumpage.

[Chevy123]

Volume picked up today....good sign? Bad sign?

[stockboy_1972]

the board of directors FINALLY decided to meet

[stockboy_1972]

I really really really wish you were right, BUT, if the doors are closed....
Something stinks, from the postings on the sites "clueless" posted to the long dark history of the prior management, there is a constant there.
Yet, someone but stock, small dollars, but at least it was something.

[Chevy123]

There HAS to be something in the wind otherwise this co would have gone belly up...not sure who Erik is but for all the directors to leave both from IUSN and Verigreen something must be brewing...maybe Verigreen has bowed out and someone else is coming in....of course, I could be 1000% off....

[CluelessStockJunkie]

Dont hurt yourself stretching.

[stockboy_1972]

true, but it is still far more than has traded on the buy side the last ten days combined
reaching for straws here i suppose

[CluelessStockJunkie]

Not much a cpl $K

[stockboy_1972]

ok, so supposedly the offices are closed, no financials, no press releases, and the stock went up today?!?!?!
very weird activity.
any idea how much it would cost to do the 10K?

[stockboy_1972]

oh, well that is great news :(
weird, there are market makers moving UP to the bid. Why would that be if there was no company left?
What a shame.

[CluelessStockJunkie]

Lights are off, doors are locked, I think they went home.

[stockboy_1972]

it doesn't appear that ANYTHING is going on, how can management stay silent??
IS there management???

[Chevy123]

Looks like the E isn't coming off anytime soon....guess it doesn't matter with no trades past few days...

[stockboy_1972]

scratch my prior reply, i just read all of the posts, :(
very very distrubing

[stockboy_1972]

OMG, but it appears to be accusations. Endlessly hopeful something good will happen.

[CluelessStockJunkie]

Maybe cause the new people (Eric Aronson) is a felon and a crook.

http://www.ripoffreport.com/loans/permapave/permapave-eric-aronson-allege-6cbda.htm

http://scam.com/showthread.php?t=134638&highlight=permapave

[stockboy_1972]

that financial statement is old though, it says from last September!

i do not understand how a public company can not talk to the public

[CluelessStockJunkie]

Yeah I would say thats the reason.

[Chevy123]

Not an accountant but the income statement sure looks lousey...wonder if it was late and that was the reason for the E being added....

[stockboy_1972]

Miserable.
Any other recommendations? Somewhat new to the stock game, any good ideas as to reliable newsletters, etc...

[CluelessStockJunkie]

I know, it is making me sick.

[stockboy_1972]

i see that. Not that it is proof of anything, but their website is up and the products look great. At a loss as to what the problem could be. Seems like it was real. Should be a selling point that the pavers are in Citibank Field, yet no revenue at all based on the prior 10-Qs.

[CluelessStockJunkie]

Yes it is, but we have not seen ONE press release since the alleged take over.

[stockboy_1972]

i hear you, but, why the hell doesn't the "management" issue a press release to let the shareholders know what is going on?? Isn't that part of being a public company?

[CluelessStockJunkie]

Dude I have no idea...........I got my a** kicked on this thing.

[stockboy_1972]

don't they have the ability to file and extension?
what is with this group and not a shred of shareholder communication
doesn't it make sense for the old people to take the company back, did the deal even close??? They announced the "intent" but never that it had closed.