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BIZM: Inactive security. FINRA deleted symbol:
https://otce.finra.org/otce/dailyList?viewType=Deletions
I have several shares of Biozoom that were not included in the Fair Fund timeline. Anyone know what is going to happen to these shares?
Received a call from KCC a few days ago... Am told they are following through on unclaimed monies and any investors who haven’t deposited their checks and can’t be located will eventually lose their settlement.Those funds will then go into the pot and be re-calculated and redistributed to the rest of us.
Congrats on everyone who persevered in this long awaited settlement.
Thank you SEC
P.S they noted I hadn’t cashed my check so they were following through...i hadn’t received it... but all is well now
SEC Files Charges in International Manipulation Scheme
FOR IMMEDIATE RELEASE
2018-85
SEC Complaint
http://www.sec.gov/litigation/complaints/2018/comp-pr2018-85.pdf
SEC Order - Karow and Legend Securities
SEC Order - Scarpino
Washington D.C., May 15, 2018 —
The Securities and Exchange Commission today charged four individuals for their roles in a fraudulent scheme that generated nearly $34 million from unlawful stock sales and caused significant harm to retail investors.
According to the SEC’s complaint, the defendants manipulated the market for and illegally sold the stock of microcap issuer Biozoom Inc. As part of the alleged scheme, the defendants hid their ownership and sales of Biozoom shares by using offshore bank accounts, sham legal documents, a network of nominees, anonymizing techniques, and other deceptive practices. The defendants also allegedly directed a wide-ranging promotional campaign and employed sophisticated, manipulative trading techniques to artificially inflate Biozoom’s share price. The alleged scheme culminated in the defendants’ illegal sales of Biozoom, which netted them nearly $34 million in unlawful proceeds.
“Manipulative and deceptive conduct undermines the integrity of our markets,” said Antonia Chion, Associate Director in the SEC’s Division of Enforcement. “The charges announced today demonstrate our commitment to unraveling even the most sophisticated international schemes that exploit retail investors.”
The SEC’s complaint, which was filed in federal district court in the Southern District of New York, charges Francisco Abellan Villena, Guillermo Ciupiak, James B. Panther Jr., and attorney Faiyaz Dean with violating antifraud and registration provisions of the federal securities laws and seeks monetary and equitable relief. The SEC previously obtained a judgment against Abellan for his role in another market manipulation scheme. In separate actions, the SEC charged two registered representatives for their roles in the unregistered sales of Biozoom stock and a brokerage firm for supervisory and recordkeeping failures.
The SEC obtained a court order in 2013 freezing proceeds from the unlawful Biozoom sales. It subsequently obtained a default judgment and established a fair fund, which has returned more than $14 million to harmed investors. The SEC also previously charged a lawyer and officer of Biozoom’s predecessor entity.
The SEC’s continuing investigation is being conducted by Marc E. Johnson and Jennie B. Krasner with the assistance of the Enforcement Division’s Information Technology Forensics Group, and under the supervision of Deborah A. Tarasevich and Ms. Chion. The litigation is being conducted by Duane K. Thompson and Daniel Maher, and supervised by Cheryl Crumpton. The SEC appreciates the assistance of the Financial Industry Regulatory Authority, the British Columbia Securities Commission, the Comision Nacional del Mercado de Valores of Spain, the Cyprus Securities and Exchange Commission, the Hong Kong Securities and Futures Commission, the Ontario Securities Commission, and the Supertendencia del Mercado de Valores of Panama.
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https://www.sec.gov/news/press-release/2018-85
When I spoke to:
Shelby Smith
Claims Analyst, Class Action Services
KCC | 462 S 4th Street, Louisville, KY 40202
She said there are no taxes on this money, it's all your money, I would like to know when this company will be delisted so it doesn't show on my Fidelity account anymore.
God Bless all of us, it's been a long haul.
I was pleasantly surprised when I opened my check. About 80%. Now I an wondering about the tax ramification. What ever tax bill there is, I am happy with this recovery. Good luck to all.
Received a check, as well. Given these actions often recover cents on the dollar this was a tremendous resolution. Good luck to all and be careful out there!
After more than 2 years of waiting I finally got my check, and it was almost 80% of my investment. It came at a great time for me. I hope everyone is happy with theirs.
Approximately 75% of the invested amount.
I got my check in the mail today for $23,644.
!!MY CHECK IS IN THE MAIL!!
I just called the Biozoom Fair Fund
number, 855-730-8647.
I was advised a check was mailed to me on Monday April 9th 2018.
My initial BIZM investment was for $5,000..
The check is for $4,351.24, a loss of $648.76..
That's a loss I can live with.
Also, I was never asked or gave Direct Deposit information. My form DID NOT have a place for it.
I looked back at my copies I submitted and no where did I find where I was asked for direct deposit information. Seems strange you were asked and I was not asked for that information. Good Luck.
I don't remember being asked either. Let's hope we can finally put an end to this.
I wasn't asked eithet ! U might want to ck on that !! Thanks
I was asked to submit the direct deposit information when I filled out the initial claim paperwork? I hope I'm not the only one to do so?
I was never asked to set up a direct deposit account.
I think it is great we may be near the end of this journey. I guess I'm a little confused, Dan says the checks will be mailed today (4-9-18) and Tuesday (4-10-18), however I recall setting up direct deposit. We were asked to give our banking information to facilitate this process, so the term "mailing" confuses me.
I will keep my fingers crossed that the payment occurs, regardless of process, but we recently moved and if the checks are "mailed" this could be an issue.
Hopeful in Iowa!!
Daniel J. Marotto
3:57 PM
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They are mailing today and on Tuesday
Dan
Daniel J. Marotto
O: 415.798.5948
M: 415.609.6179
Not yet 4/7/16
S/ Michael S. Lim Michael S. Lim (Virginia Bar #76385) Attorney for Plaintiff U.S. Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-5631 Telephone: (202) 551-4659
Daniel J. Marotto
11:32 AM
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Good afternoon,
The distribution checks are mailing this week.
Regards,
Dan
Nice find !! Thanks for posting
A new document, dated 16 March 2018, has been posted on the fair fund website;
PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S MOTION FOR AN ORDER AUTHORIZING DISTRIBUTION AGENT TO DISTRIBUTE THE FAIR FUND TO ELIGIBLE INVESTORS AND APPROVING THE PAYMENT OF DISTRIBUTION EXPENSES
http://www.biozoomfairfund.com/media/1320317/filed_motion.pdf
This motion seeks approval to distribute $16,018,358.62 pro rate to 2585 claimants.
Looks like we MAY be getting somewhere...
No he did not mention who the new attorney or firm was, he indicated that "she" had all of the necessary information to file with the SEC. I get so frustrated with the delays, I have been personally told on many occasions that it will finalized in 1-2 months and yet it hasn't. I guess we just have to be patient, as tough as that may be!
Did he mention the new attorney or group that could be contacted ? Thanks
Thank you for the update. Will be praying that finally happens. Thanks again.
Just spoke with the contact I have had concerning Biozoom, Dan Marotto. I must admit frustration, he had asked me to contact him over three months ago and after numerous attempts on my part he finally answered today. He stated that the SEC had assigned a different attorney to our case, however she has all the necessary documents and he looks for a quick approval by the SEC now that everything has been filed. I asked him for a time frame for distribution and stated "we are done with everything as soon as the SEC signs off they will start cutting checks"! He went on to say "in the next two to three weeks". If I haven't seen anything by then to give him a call.
Let's all hope that this actually happens, it has been a long journey!
BIZM: Three Defendants Convicted in Securities Fraud Investigation
Courtesy 236T568:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139120540
https://www.justice.gov/usao-sdfl/pr/three-defendants-convicted-securities-fraud-investigation
Hi, the filing documents etc. showing the dates received and approved from the SEC can be found here;
http://www.biozoomfairfund.com/case-documents.aspx
Do u have a link to this ? Would be appreciated !!
It was posted that on Feb. 5th 'The SEC is in the process of obtaining court approval for the distribution....once authorization from the court is obtained, checks will start to be distributed'.
The SEC Distribution plan was submitted to the Court on 9th June 2016 and the Court gave it's approval of that distribution plan on 16th June 2016. Hopefully, the Court will again move surprisingly quickly to approve the distribution!
A while ago someone posted that the expected distribution was in the region of 50%, but 50% of what?
At least our Biozoom shares will not have crashed in this week's market downturn
ever hopeful....
Opps ... lol that was in response to your latest email u sent !! Thanks for the update !!
Someone posted still waiting on Sec on the 5 th
I really wonder after all this time how much I will be getting. I have heard that in these cases you get very little!
I never sold my over 1200 shares.
The SEC is in the process of obtaining court approval for the distribution. Once we receive authorization from the court, we will begin the process of issuing checks to eligible claimants. We have no further updates at this time.
Thank you,
KCC
Distribution Agent
As of today. Feb 5th
Thanks for checking.
I emailed them 3days ago. no reply yet
Yes I also wondered about that too. I've been so tied up in $ ifxy take a look at it !!
gad1, thanks for the link you posted earlier.
That link showed that fresh charges were laid against more people in Dec. 2017. I just wonder if those new charges might hold up distribution, particularly if it means more cash may be recovered to(eventually!) distribute. Just wondering aloud.....
Unfortunately no.... I'm going call again end of next week and see what they say .... Unless @ Nicole has called recently ? The only thing I have found was the link I posted earlier !!
Thanks @ Nicole !! Was hoping to get in time to put in new stock !!
There is no update at this time.
Thank you,
KCC
Fund Administrator
Biozoom Fair Fund
This is what I got on Nov 29.
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Biozoom is dedicated to the advancement of reflection spectroscopy as a commercial technology. Today's Biozoom technology can be used by anyone, anywhere, as a health and wellness diagnostic tool. The company is constantly researching new applications and innovations.
The Biozoom scanner is the result of more that eight years of investigation, innovation, engineering and collaboration. This remarkable handheld unit is used in concert with Biozoom’s equally sophisticated and medically validated analytical algorithms. At the press of a button, the scanner collects and sends spectroscopic data to Biozoom’s servers, which instantly returns biofeedback to the user.
The founders of Biozoom have been engaged in developing cutting edge optics since 2004. Over the past several years, the founders were involved in a variety of ventures, each dedicated to evolving the efficacy and practical use of optical scanners. Working with European telecom giant Vodafone, the founders developed an application for two-way remote telemedicine through cellular phone devices. In 2007, they undertook an engineering and development partnership with Carl Zeiss, which succeeded in miniaturizing the optical system considerably. After a period of grant-supported research and development, Biozoom's executive management established the company in 2013 to bring this extraordinary technology to the market.
http://biozoom.net
Whether you’re a doctor or a patient, using the Biozoom Biofeedback Scanner to measure blood chemistry levels is as easy as 1-2-3:
1. Hold the palm-sized Biozoom Scanner against the skin.
2. Press a button.
3. Read the results on your smart phone, tablet, laptop, or PC screen.
Biozoom is fast: the analysis takes only 16 milliseconds. And it’s completely noninvasive. No blood samples are required. And there is no puncturing of the skin.
The Biozoom Scanner uses a beam of light to detect and measure antioxidant levels … vitamins … oxidative stress … and cyotochrom oxidase, a critical enzyme that aids in the production of energy in your cells.
The noninvasive optical scanner also measures VO2 max, the maximum amount of oxygen your body can use in one minute per kilogram of body weight – an indicator of your body’s endurance for physical activity.
Planned upgrades to the Biozoom device will enable measurement of blood alcohol, cholesterol, drugs, chronic venous insufficiency, blood pressure, smoke poisoning, and oxygen saturation HbO2.
The Biozoom Scanner is also being developed to be calibrated to measure blood sugar levels – an essential daily test for diabetics that currently requires a pin-prick with a sharp needle. The cost of treating diabetes in the United States is $220 billion a year.
Whether you’re a doctor or a patient, using the Biozoom Biofeedback Scanner to measure blood chemistry levels is as easy as 1-2-3:
1. Hold the palm-sized Biozoom Scanner against the skin.
2. Press a button.
3. Read the results on your smart phone, tablet, laptop, or PC screen.
Biozoom is fast: the analysis takes only 16 milliseconds. And it’s completely noninvasive. No blood samples are required. And there is no puncturing of the skin.
The Biozoom Scanner uses a beam of light to detect and measure antioxidant levels … vitamins … oxidative stress … and cyotochrom oxidase, a critical enzyme that aids in the production of energy in your cells.
The noninvasive optical scanner also measures VO2 max, the maximum amount of oxygen your body can use in one minute per kilogram of body weight – an indicator of your body’s endurance for physical activity.
Planned upgrades to the Biozoom device will enable measurement of blood alcohol, cholesterol, drugs, chronic venous insufficiency, blood pressure, smoke poisoning, and oxygen saturation HbO2.
The Biozoom Scanner is also being developed to be calibrated to measure blood sugar levels – an essential daily test for diabetics that currently requires a pin-prick with a sharp needle. The cost of treating diabetes in the United States is $220 billion a year.
MAYBE you’re old enough to remember Dr. Leonard “Bones” McCoy, the surgeon aboard the U.S.S. Enterprise starship from the original “Star Trek” TV series.
During a field mission, when a crew member was ill, Dr. McCoy used a “tricorder” – a tiny handheld medical diagnostic instrument – to read the patient’s vital signs in seconds. And he didn’t have to take a blood sample or puncture the skin with a needle to do it.
Well, now a technology company that recently went public – Biozoom, Inc. (BIZM) www.biozoom.net – has developed a real-life tricorder: the Biozoom Biofeedback Scanner.
The Biozoom Biofeedback Scanner is the only handheld diagnostic device of its kind worldwide that tests for your health WITHOUT blood tests or piercing your skin.
But the Biozoom Scanner, developed in partnership with Carl Zeiss and Vodafone (VOD), isn’t science fiction. It exists now. Units have already been built and used by doctors in hospital settings – with gratifying results. The product will soon be available to other health care professionals and the general public.
That means you’ll be able to monitor your blood chemistry at home – in seconds – without having your blood drawn through a needle at a diagnostic lab, and then waiting 3 to 5 days for the results. Or paying a big lab bill for the test.
The Biozoom Biofeedback Scanner has already been successfully tested on 1,200 patients. And the next generation of the device is being developed to revolutionize many areas of medicine ranging from biofeedback and oxidative stress to blood pressure and diabetes.
Already in development is a nanotechnology version of the Biozoom scanner technology. The apparatus will be miniaturized to the size of a microchip, enabling Biozoom’s biofeedback scanning capability to be integrated into smartphones and virtually any other small consumer device. Annual nanotechnology revenues are forecast to reach $1 trillion by 2015.
Whether you’re a doctor or a patient, using the Biozoom Biofeedback Scanner to measure blood chemistry levels is as easy as 1-2-3:
1. Hold the palm-sized Biozoom Scanner against the skin.
2. Press a button.
3. Read the results on your smart phone, tablet, laptop, or PC screen.
Biozoom is fast: the analysis takes only 16 milliseconds. And it’s completely noninvasive. No blood samples are required. And there is no puncturing of the skin.
The Biozoom Scanner uses a beam of light to detect and measure antioxidant levels … vitamins … oxidative stress … and cyotochrom oxidase, a critical enzyme that aids in the production of energy in your cells.
The noninvasive optical scanner also measures VO2 max, the maximum amount of oxygen your body can use in one minute per kilogram of body weight – an indicator of your body’s endurance for physical activity.
Planned upgrades to the Biozoom device will enable measurement of blood alcohol, cholesterol, drugs, chronic venous insufficiency, blood pressure, smoke poisoning, and oxygen saturation HbO2.
The Biozoom Scanner is also being developed to be calibrated to measure blood sugar levels – an essential daily test for diabetics that currently requires a pin-prick with a sharp needle. The cost of treating diabetes in the United States is $220 billion a year.
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