Houston Natural Resources Corp (HNRC)

[trader_rik_14]

Kristan, a native of Australia, said he has been involved in about 250 business

Florida filings was a 1997 class action suit brought against Kristan and two other men by dozens of people in 15 states alleging securities fraud for selling them millions of dollars in worthless stocks and bonds from a dissolved Delaware corporation,

Millinocket officials aren't the first to raise questions about Kristan.He has been named in at least two lawsuits filed in Florida courts seeking damages of about $10 million each.
One of the Florida filings was a 1997 class action suit brought against Kristan and two other men by dozens of people in 15 states alleging securities fraud for selling them millions of dollars in worthless stocks and bonds from a dissolved Delaware corporation, MaraFund LTD.The suit was dismissed a few years later.An attorney, who asked not to be identified, said the suit was withdrawn because the defendants didn't have enough assets to justify pursuing it.
In 1999, Patriot Growth Fund LP, three profit-sharing plans, and several people sued Kristan and two of his companies, the Templar Corp. and Patriot Advisors Inc., for breach of contract.In documents, Kristan denied the breach.Last fall, a Florida jury ruled in favor of the growth fund group and awarded damages of more than $3.6 million.
Kristan, a native of Australia, said he has been involved in about 250 business transactions across the United States over 20 years."I've only had three lawsuits," he said, noting two of the suits involved the same group of people, who filed both in Florida and Arizona."They have been settled," he said.
Kristan said he is currently involved in four or five corporations."I generally start them up in particular industries, then bring in partners and sell them off as I was [attempting to do] in this case here," he said referring to his Millinocket proposal to have employees buy into 51 percent of the company."My most successful investments have been ones where I end up with 4 or 5 percent of the company."
Kristan and Montgomery came to Millinocket a few weeks ago with plans for an $8 million manufacturing facility that would employ 600 people in a few years.
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Kristan said the company, through its wholly owned subsidiary, Avenger Boats Inc., has no factory to manufacture its boats.Kristan is also president of Avenger Boats Inc.
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http://www.zoominfo.com/p/Frank-Kristan/282461238