Medizone Intl. (fka MZEIQ)

[Tane61]

MZEI has previously scraped the bottom of the barrel

Medizone International announces the appointment of David A. Dodd as new Chief Executive Officer

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Aeterna Zentaris Commences Legal Action Against David Dodd and Philip Theodore

Aeterna alleges among other things, that former CEO Dodd and former General Counsel Theodore breached fiduciary duties owed to Company.

Company also alleges that defendants developed secret plans to acquire the U.S. rights to Macrilen TM and mount a proxy contest for control of the Board with assistance from shareholder Graeme Roustan.

Aeterna also alleges that Dodd and Theodore conveyed and used Aeterna’s confidential information without authorization.

ir.aezsinc.com/press-release/aeternazentaris/aeterna-zentaris-commences-legal-action-against-david-dodd-and-philip

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New York executive charged with stealing $500,000

NEW YORK, Dec 22 (Reuters) - Joseph Latino, former chief executive officer of a medical research company, has been indicted on charges of stealing more than $500,000 from the firm, prosecutors said on Tuesday.

Latino, 41, of Brooklyn, was charged with securities fraud, grand larceny, scheming to defraud, falsifying business records and possession of forged documents. He faces up to 15 years in state prison on the top count of grand larceny if convicted.

"He used $100,000 of the money he stole on escort services at $450 an hour," Manhattan District Attorney Robert Morgenthau said. The rest of the money was spent on such luxury items as rugs, art, jewelry and frequent European travel, he said.

The indictment alleges that from 1994 until 1997, Latino, the CEO and Director of Research of Medizone International Inc., lied to investors about fictitious experiments being conducted by Medizone in Italy, where the company is headquartered.

He also lied when he claimed that the company's research findings were about to be published. ``He's a convincing speaker,'' Morgenthau said.

The prosecutor said Latino misrepresented his educational background, claiming he had a Ph.D in biochemistry.

Medizone (OTC BB:MZEI - news) is a legitimate NASDAQ-traded medical research company. The company is searching for an ozone therapy treatment for blood diseases such as AIDS and hepatitis. The research is being conducted at the firm's Naples, Italy, headquarters. It also has offices in San Francisco.

The irregularity was discovered in 1997 when a new management team took over the company and discovered problems during an audit. Latino was ousted and the discrepancies reported to the district attorney's office.
www.agaphil.com/AuditingArticles/fraudsex.html

On May 14, 1997, the Company's Board of Directors terminated the employment of Joseph L. Latino ("Latino") as the Company's President and Chairman after the discovery of a pattern of unaccounted for expenditures of the Company's funds. The Company is investigating the purposes, nature and extent of such expenditures.
www.otcmarkets.com/edgar/GetFilingPdf?FilingID=1193572

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MZEI UNABLE TO MAKE ANY HOSPITAL SALES IN FIRST 5 YEARS

TO DATE, NOT ONE (1) SALE TO A HOSPITAL NOR ONE (1) HOSPITAL SERVICE CONTRACT HAS BEEN REPORTED, WORLDWIDE (The manufacture of the first production machine was announced back in April 2012)