Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
On the contrary, it shows that they aren't going touch Ribotsky. The guy lived high on the hog for years on his investors' money, all the while telling them that their accounts were growing in value. Technically, it wasn't the same as Madoff because Ribotsky did make some investments. But, the investments didn't make money-not for anybody, including him. What enabled his lifestyle was the pyramiding- new money coming in. For all practical purposes, it was just a pyramid scheme, and making some investments was his cover. That's the only reason Madoff is in prison and Ribotsky is not. It was his Get Out Of Jail Free card.
Still, it is amazing that they haven't charged him with a crime because there was fraud involved and massive financial loss to people who were, in every sense of the word, his victims.
So, why haven't they charged Ribotsky and why won't they? I don't know, but if they were going to, it would have happened by now.
Dworkin got 3 Years of Probation.
With such a light sentence, I would worry if I was CR.
Dworkin was supposed to be sentenced on Nov 5. Dunno whether this happened - nothing about it on the court docket.
However, there is a letter from Holder-heir-apparent Loretta Lynch detailing progress in collecting on Ribotsky's $14.5M. Summary version: Zilch.
Detailed version:
Dear Judge Dearie:
The government respectfully submits this letter in connection with sentencing in
the above-captioned case, which is currently scheduled for Wednesday, November 5, 2014 at
10:30 a.m. During the last court appearance in this case, the Court adjourned sentencing and
requested that the government obtain additional information regarding efforts undertaken by
third parties to recover funds for investors of the NIR Group (“NIR”).
Recovery efforts are proceeding along two separate, parallel tracks. First, as the
Court is aware, on September 28, 2011, the Securities and Exchange Commission filed a civil
lawsuit against NIR and the NIR fund manager, Corey Ribotsky, alleging securities fraud.1 See
SEC v. NIR, 11-CV-4723 (JFB). On November 13, 2013, as part of a settlement with the SEC,
Ribotsky agreed to pay disgorgement, prejudgment interest and a civil penalty in the amount of
$14.5 million, and the Court entered judgment against Ribotsky in that amount. However, to
date, Ribotsky has failed to pay any funds to satisfy this judgment, and, as a result, the SEC has
undertaken action to enforce the judgment and recover assets from Ribotsky. Discovery
concerning Ribotsky’s income, assets, and ability to satisfy the judgment is ongoing, and the
SEC has informed the undersigned that Dworkin has provided substantial assistance to the SEC
in its collection efforts against Ribotsky.
Second, on July 21, 2014, PricewaterhouseCoopers, acting as liquidators for NIR
and on behalf of NIR investors (“the Liquidators”), filed a civil action in New York County
Supreme Court against Marcum & Kliegman LLP. A copy of this complaint is attached hereto
as Exhibit 1. In this action, the Liquidators seek $25 million in damages for failure to protect
NIR investors by properly conducting an audit. See Complaint, Exhibit 1, ¶ 1. As set forth in
the PSR, Marcum failed to produce an audit report for the year 2008, a time that the fraud to
which Dworkin pled guilty was ongoing. Attorneys for the Liquidators have informed the
undersigned that the parties are currently litigating pretrial motions. Attorneys for the
Liquidators have further informed the undersigned that Dworkin, acting at the direction of the
government, met with them and provided information useful to them. A letter from the
Liquidators to the Court is attached hereto as Exhibit 2.
Respectfully submitted,
LORETTA E. LYNCH
United States Attorney
Eastern District of New York
Next time ya tellin stories, got any good ones on the medgen offshore boiler rooms? How it was set up. Who walked away w money?
Say what bro?
NIR offered coin for shares. Who wouldn't take that deal? It's the pinks dude. NIR converted shares daily through Shefts (Domestic Securities) Then NIR closed the withdrawal gate on it's investors as the heat turned up.
Go after whomever ya want bro. Ya like ta go after CEO's? Have at it. Always fun ta watch ya swim upstream while ya scream.
ya don't jig for minnows dude
plenta of puppets in tha masters game and ya left out many. tha biggest puppets were tha ceo dudes actuall doin these death spiral fundins. got hurt by a few of em. that's what got this dude here. ya been here cause of some ceo dude too. both got our stories but ya always leave out tha complicit ceos who killed tha stockholders. without tha corrupt ceos nir wouldn't existed or now existin in othe r forms. other dudes commin here now ta now complain bout a fundin from 2006 is more than fishy. its a hoot
Look who's getting jiggy while eatin the BAIT.
Wanna have some funinthesun bro? Medgen talk got ya in a bunch? Ya aint seen nothing but the tip yet. Noveshen, Dworkin, Yellen, Cohen, Schecter, Shefts, Kravitz, Watson, Gelmon, NORMA, and on and on. Corey had a puppet named Eric. He could make his mouth move. He could talk without movin his.
Plan A - Fund company with investors coin, Demand funded company pay Envision Capital 10% of funded amount, Demand funded company hire phony PR Team, convert shares at 50 - 70% discount, have proxy short durin massive dilution. Hope perp team keeps mouth shut.
Anythin else you'd like ta drill into bro? Like stories? I got some good ones.
Good find bro.
Not too many caught on when I posted that info. Silence from the public posters but behind the scenes it was quite different. Some of the emails I got were priceless. Keep readin those earlier posts. Gotta read between the lines.
Interesting info on the the medgen shakedown.
Clueless dude quackin what paper looks like. ya cant read dude and ya have no clue as to what is kosher in tha world. Quackin that Nir and asher are in tha same hood so nir is now investin in ya precious smev? that is quackery. yo Disneyland is in my hood so now this dude is tha owner of mickymouse. what a hoot. dude has no clue and ya very late to tha game. Nir didn't have anything to do wit ya smev. the dilutin came from ALLEN LICHT and ELLA FRENKEL LICHT as these corrupt execs were pocketin every penny or ruble they can get there sweatin palms on. this dude can dive deeper inta how corrupt the Lichts were. ya know nuttin about smev. this dude has done lots of dd. ya full of holes as tha info ya getting quacks. smev has been dead since 11 and ya quackin now outta nowhere. Now that's a hoot.
Shares acquired for consulting. Monthly compensation the Ajene Watson LLC consulting services, $67,000
60% , $42,000, of the monthly compensation shall be paid in the form of common stock at a 20% discount from the days prior to closing bid
35% of monthly compensation $23,000 shall be paid in the companies warrants and or preferred shares convertible into the companies common stock a fixed conversion price of 0.007
Rest of compensation was to be in cash
No one on the SMEV board but you. You Pretendin the people/methods that came ta save SMEV didn't have a hand in smoldering it, they did and on paper if it looks like a duck and quacks like a duck... Do I got ta spell out how all these guys met up or had dealings w each other through NIR again? Curt Kramer/Asher from Ribotsky's hood, check the info Noveshen Watson dealt w him back in 2007. Skyline, Asher/Kramer worked with Michael Gelmon who with his bro Cory and Corey Ribotsky made NIR and dialed up the dilution scams. All connected Licht added it up and some didn't like that.
Clueless dude. Cut and paste won't get ya far on this board. No NIR there dude. Ya here. Why are you not on SMEV. This dude has posted lots bout that bogus rag. In fact fed court ruled that bogus dude Allen licht is goin to get sanction for tha frivolous rag he filed. That's what they do in fed court. Ya don't care bout SMEV. Ya never on tha SMEV rag. Ya want NIR ta fund SMEV. Ya crazy. Ya outta ya league here dude.
I don't buy that too many in this group connected ta sour deals before SMEV, but i don't see Licht's name connected I not da only one ta notice...see this 2012 post by nodummy, this group worked together intertwined in investment schemes.
EDWY, SMEV, UCHB, OTHM - very interesting lawsuit filed on Wednesday.
The lawsuit lists some very familiar names as Defendants including Ajene Watson, Scott Wilding, Curt Kramer (Asher Enterprises), David E. Price, and others.
DEFENDANTS:
AJENE WATSON, JAMES GIBBS, ERIC L. NOVESHEN, YISROEL A. BORNSTEIN, ARYEH GOLDSTEIN, SAMUEL H. EISENBERG, THERESA LEE FREY, JEFFREY E. STALLER, CURT KRAMER, DAVID E. PRICE, TOMER TAL, STEVEN KOIFMAN, SCOTT H. WILDING, MONICA CHUI-TIRU, AJENE WATSON LLC, ENVISION CAPITAL LLC, SCB & ASSOCIATES LLC, THE TRIPOD GROUP LLC, VIRMMAC LLC,HERITAGE CORPORATE SERVICES INC, ASHER ENTERPRISES INC, STOCK STREET CAPITAL LLC, and SKYLINE CAPITAL INVESTMENTS INC
Long read, but well worth it. The lawsuit helps explain how this group allegedly worked together to steal millions of dollars from investors through a massive pump&dump scheme.
ya haven't done ya homework dude. this dude knows a little bout smev but ya do not. ya never have been on tha smev rag before. nir never funded smev. not difficult ta understand. other motives what does asher have ta do with nir nuthin. cant believe ya complainin that nir didn't fund ya precious smev. ya should be thankful. what this dude has seen is that allen licht and ella frenkel licht were the real criminals in smev. ya have no reall dd dude
If Allen Licht is the perpetrator then how is it Ajene Watson was selling blocks of SMEV stock to Curt Kramer of Asher Enterprises? After NOT brining in funding? Watson and Noveshen are connected to Kramer in other NIR dealins who brought Kramer and Scott Wilding/Skyline to the table? It doesn't look like Allen Licht made the dumb mistake of associating with these dudes. Don't know how much Licht made or lost but it's documented that Watson made some $$ Curt Kramer too
clueless dudes yappin bout somethin knows little bout. Most here have been affected by nir. clueless is thinkin there is some grand connection to nir. there isn't. did my dd on your smev and allen licht and ella frenkel who is really a licht. clueless has not done his dd. allen licht and ella frenkel ripped off everyone includin tha entire idea of their company. so haven't seen that email but been readin up lots on the smev dudes to know allen licht and ella frenkel lined their pockets wit shareholder money. money dude that didn't come from nir
What types of companies are ya talking bout? Looks ta me like these so called dream teams swoop in ta companies almost dead and promise ta bring in funding. They pump in a little money in the start demand more and more stock till it's worth nothin. When someone inside the company asks where's our funding they scatter ta sell what they got and take every last penny.
Lots of moving part to this ya see..
When SMEV started asking where the $$ was after year w dream team, they were stalled w more promises of funding that would never happen.
Email from Eric Noveshen to SMEV
Aug 6, 2010
Ella,
Your concerns are valid and we all know where you're coming from as we are all in this together it is always darkest before the dawn. With that said we are all managing several moving parts at once. A lot of these moving parts of behind-the-scenes and not really reported on. That doesn't mean that the bees aren't working! What ever there isn't a day that goes by whereby so member of the team is discussing strategy or reporting on some updates or achievements regarding SpaCap.
We are however going to achieve our goals that we set out. That includes the financing necessary to take the companies the next level. Spa Is in its best position for growth in years.
Not really sure.
Looks like launderin ta me. How were the shares first acquired? Consulting? Restricted or free tradin?
Clueless dudes don't understand tha there is more than nir fundin these types of companies. Copy and paste only gets ya so far on this board dude
Pd how did Curt Kramer fit into the earlier NIR deals? In SMEV he purchases stock from Ajene Watson but typically what was his connection/role?
Stock Purchase Agreement (the ''Agreement'') dated January 13, 2011 between Ajene Watson 'LLC and Asher Enterprises, 'Inc. The Seller is the owner of 20,000,000 unrestricted, free trading shares
(the ''Seller Stock'') of common stock of Simulated environment concepts. Inc.
WHEREAS, Purchaser wishes to buy the stock from the Seller...
1. Agreement to Purchase and Sell Subject to the terms and on the
conditions hereinafter set forth, purchaser hereby agrces to purchase the Seller Stock from Seller
for the aggregate consideration of Sixty Thousand Dollars ($60,000) the ''Purchase Price
to be paid at the Closing
Keep following the trail.
It's just a matter of time until anyone who deals with the dude gets turned on for money. They usually want to talk.
The pieces are falling in place. Turns out FBI and IRS are most interested in this individual.
Eric Novehsen/HR Ventures LLC, FEIN 270573094, has not filed a State or Federal Tax return for several years. Envision Capital LLC has not filed a State or Federal Tax return for several years and Bridgewater Capital is of most interest to them. HR no longer operating they say but the tax man is a lookin
Called one of the firms Noveshen worked for listed by finra. said the man has a bad rap, not a lick of integrity and a big ego. emailing me some additional info to back that up.
Corrupt broker alright ... http://brokercheck.finra.org/Individual/2716003
Dudes not that smart.
Litowitz and most others can see through his game from a mile away. What the hell would Noveshen have that interested Magnatar?
He's just a corrupt broker playin his role. Bears don't invite weasels into the den.
Credit default swaps, did Envision Capital /Noveshen get in with Magnetar game too?
Gary Kimmons applauding someone's efforts makes them kosher? You're kidding me right.? Edoorways is a complete scam! Worse it's a cyclical scam redone over and over
investors were scammed around every corner of NIR. Looking at some posts from a year ago.. Everything was dirty. Is there any one company NIR invested in that wasn't a scam? Or any straight shooters in sight? All fraudsters?
http://investorshub.advfn.com/boards/replies.aspx?msg=95155336
I agree
IGNT was a scam and NIR facilitated IGNT scamming it's shareholders. NIR was paid well at the time for doing so. I do agree, too, that Cory ripped off the NIR investors. Of that I have no doubt.
I just put up the numbers as reported. Heck, I don't even know if the $300k number is real. Why would a 3rd party pick up IGNT's debt??? No compensation for doing so was disclosed. The transaction itself sounds as scammy as everything else surrounding NIR and IGNT.
I don't have a dog in this hunt. IGNT is definitely a scam. Cory is definitely a scammer. NIR INVESTORS by and large are as much victims as IGNT shareholders. PWC is supposed to be recovering money on their behalf. Are they? or are they just racking up billable hours.
BTW, there is $600,000 to UNVC that appears to be uncollectable as well--UNVC not trading this year.
How so? Beyond medgen connection can't find much except the spat between Bridgewater Advisors and Briidgewater Capital over websites
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81411385
https://www.docketalarm.com/cases/Florida_Southern_District_Court/0--13-cv-61535/Noveshen_v._Bridgewater_Associates_LP_et_al/
Interesting in June 2008 Noveshen emails Corey "Just a heads up, things are coming back to me that NIR are giving them waivers and they are doing deals with your portfolio companies. I know they purchased Itronics but I squashed that."
Ribotsky says he didn't discuss why Noveshen squashed a deal or contact w/ Mazuma (Curt Kramers company). Corey tells Novashen Kurt is a 504 guy twice And seem to x him out of picture. Yet there is Kramer involved in SMEV that NIR funded a year later. Curt Kramer is also a defendant in the Smev lawsuit along with Ajene Watson, Eric Noveshen and others.
http://www.scribd.com/doc/112739347/Watson
Kramer now blacklisted. Great company these guys keep.
http://www.sec.gov/litigation/admin/2013/33-9485.pdf
One of the PIPE deal finders mentioned in articles and legal docs is def noveshen now ? Is why he was never held accountable. Matter of time seems, fraud crimes catching up with these guys 1by 1. Interesting also that Corey says Noveshen can be "off the wall"
Might wanna contact Steven Humphries .
Ya forgot about Gelmon and the shorting play.
Are ya putting the pieces (perps) together yet? I think so.
It went down exactly like Edooorways and Simulated Environment concepts, minus Dworkin. The dying company needs funding. They bring big old NIR to the table with funding but the catch is the PR is handled by Watson and Noveshen. They get a cut of the pr $$ they get paid "consulting" fees in stock, pump n dump the stock and walk away.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65579652
7/26/11
Actually it went this way in the case that was reported to me in detail.
Eric Noveshen at Envision Capital contacted the funded company on NIR's behalf. Daryl Dworkin confirmed that Noveshen spoke on behalf of NIR. Noveshen had the check for the BS promo work made out directly to Medgen. Medgen then split the take between the 3 and never were heard from again. Kravitz was right in the middle of the whole scam. Dworkin said future funding depended on using Medgen as a PR firm. Noveshen spoke for NIR and showed up with Kravitz to get the check.
Read Corey's words & connectthe dots.
https://www.scribd.com/doc/36559747/Ribotsky
Same address as Medgen. Nvision.
Envision Capital was the Noveshen entity doin the NIR work. Envision / Nvision. Look through the smoke & mirrors to find the truth.
http://www.bizapedia.com/fl/NVISION-CAPITAL-ADVISORS-LLC.html
Kravitz goes way back.
With his games. Corey, Dworkin, Noveshen, Kravitz. A real "Dream Team" here.
http://caselaw.findlaw.com/fl-district-court-of-appeal/1285077.html
https://www.sec.gov/litigation/litreleases/lr15102.txt
http://www.ftc.gov/enforcement/cases-proceedings/002-3211/med-gen-inc-paul-b-kravitz
http://www.forbes.com/forbes/2007/0212/064.html
Now digest this
"During the period ended March 31, 2008, the Company performed
consulting services pursuant to contracts with 90 day terms for 8
companies for fees aggregating $828,000 of which $144,278 is
recorded as deferred revenue and included in accounts payable and
accrued expenses, for services to be performed at future dates.
Substantially all of the revenue related to these services was
derived from clients of the Company's primary lender NIR Group
(See Note 6). These clients were referred to the Company either
directly by NIR Group or by a third party."
Above copied from this Q.
http://msnmoney.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingORIG1?ID=5915600&SessionID=5RgcWZDBP11rCl9
Her ya go bro.
http://www.businesswire.com/news/home/20050419005299/en/Med-Gen-Attracts-Investment-NIR-Group#.VEfJFH7n99A
I believe you'll find some 800k in consulting revenue in one of the 2008 Q's (Medgen). You won't find any info about Noveshen or Dworkin. That was the point of usin Medgen. Follow the consultin money trail in the Q's if ya wanna find the local laundramat.
Kickbacks.
http://www.forbes.com/sites/streettalk/2010/07/09/convicted-analyst-points-finger-at-nir-group-founder-ribotsky/
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65579652
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81703883
Bridgewater Capital in Bermuda is kinda interestin'
Been looking for info on the Medgen story. Info hard to come by. Found that company was bout to die in 05, made a deal with investment firm but didn't see one of those standard Ribotsky contracts that Golden Patriot, Systems Evolution, Innofone or Nova looked like (this link)
http://www.nasdaq.com/markets/spos/filing.ashx?filingid=3881963
Do you know if there is one mentioning medgen and NIR?
Went through Medgen 07 08 Q reports and found some links to pages saying Medgen hired employees to do pr type work. Can't find much on Dworkin and Noveshen involvement except a mention of Bridgewater Capital in Bermuda. Was there a Bermuda shell working with Medgen laundering money?
Hi ay is comin bro.
Plenty a eyes on that boy and his games. Addin um all up.
Strange they just let Noveshen walk away. possible explanations? If he had nothing to offer maybe he didn't get a big enough piece of the pie to make it worth pursuing him. So they make an example of his buddy Dworkin thinkin Noveshen will learn a lesson. If that's the case they messed up!!! Never underestimate a fraudster with his hands in so many cookie jars. Noveshen still deep in the game with the same players making dirty companies dirtier. Makes ya head spin
Golden Patriot/Bradley Rudman did the rounds with NIR game. Noveshen and Rudman went on to spin wheels together Britannia Mining. Hope this one legit!
Edooorways/Simulated Environment Concepts/ Ajene Watson - After pumping n dumping EDWY and SMEV Watson and Noveshen moved on to OTHM
Innofone- CEO Alex Lightman ran a nice money train scam through Innofine with NIR. Alex Lightman and Noveshen bombed Florida Micro stock together 2011 now they working on ap start up Multaply.
Encompass Holdings/ Arthur Robins - Noveshen and Robins went on to business partnership in HR Ventures. Liquor business is known as a great way to launder money. Not saying this is what they did for sure but this company didn't fit in their patterns of pump and dump.
& more
They had Dworkin
and he was singin like a friggin bird. There was no need to deal with Noveshen tA GET TO Dworkin.
I've not seen the Noveshen depo but would like to if anyone has a copy.
Dworkin was pushin the Noveshen brought deals through NIR in order ta get his cut. He then told the funded that Noveshen would bring in PR guys (Medgen) and in order ta get the funding they'd have ta hire the Medgen PR (ya right) dudes. In the case I was briefed on the PR fee was 50k. I got no idea how Dworkin, Noveshen and Medgen split the take. This is what got Dworkin canned. Dworkin swathe bucks Corey was pocketin and wanted his piece. The whole scam group was a real class act. A who can fk who game of hide the money.
Has anyone seen Noveshen's depo personally? A contact on the scene at the time told me Noveshen strategically threw Daryl Dworkin under the bus. Painted a picture that Dworkin was the mastermind behind the schemes and once they got in a deal Dworkin's demands for the kickback money were intense, angry threats for his money. Noveshen gave them a lot of details. This is from someone who has see it but I can't find Noveshen's first depo. Maybe they wanted Dworkin so bad who knows they might've cut Noveshen a deal to make it easier to get Dworkin?? Dworkin pocketed a lot more scheme money than Noveshen did.
Aha. Ya meanz Chef I mean Shef.
Alex Lightman may be bigger crook than Eric Noveshen he worked right up with Corey Ribotsky to rob people through Innofone
August 31, 2005 and October 31, 2005 pursuant to that certain Securities Purchase Agreement (the “SPA”) by and between Innofone and AJW Partners, LLC (“Partners”), New Millennium Capital Partners, II, LLC (“Millennium”), AJW Offshore, Ltd. (“Offshore”) and AJW Qualified Partners, LLC (“Qualified, with Partners, Millennium and Offshore, collectively, the “NIR Group”).
The terms of the Repayment, as provided in the Agreement are as follows: (a) upon signing of Agreement, Innofone made a cash Payment to NIR in the amount of $2,635,400 to be applied to the repayment of all amounts of principal and interest
Guaranty and Pledge Agreement, dated August 31, 2005, by and between Innofone, Mr. Alex Lightman, Innofone's President and Chief Executive Officer, and NIR
By 2006 -- Net losses totaling $9,026,031, and $55,469 for the years ended June 30, 2006 and 2005, respectively, increased by $8,970,562 as result of the factors previously mentioned above.
so who bought the promo?
UNIVEC, Inc. (OTCBB: UNVC) is focused on targeting its products for special diseases such as Sickle Cell Anemia, cancer, HIV/Aids, Hepatitis C. Multiple Sclerosis, Hemophilia and Drug Addiction. UNIVEC combines a targeted mix of production and sales to maintain a strong national market. UNIVEC has formed affiliate agreements with major pharmaceutical firms for production and distribution efficiency. Specialty Pharmaceuticals are high cost products that are not usually dispensed in retail pharmacies.
Get updates on UNVC and more information in the report here: http://bit.ly/-UNVC-AnalystReport ;
http://ih.advfn.com/p.php?pid=nmona&article=64062701&symbol=UNVC ;
woogie sighting!!!
They don't let me out much at all. Yard time is about it.
I can read though. Understandin the words is another matter. Looks like our boys the CEO.
https://www.vstocktransfer.com/our-team.html
Since I'm the smartest guy who ever lived, I'll pass on this. Yoel aint the DD target here nor the perp. From all I've found Yoel is a straight shooter and pretty smart. Those that want ta dig need ta look into Domestic Securities.
http://investing.businessweek.com/research/stocks/private/person.asp?personId=415672&privcapId=3546864
your not getting out enough Pd. ...
I think Yoel landed at Vstock TA, and serves as exec VP of complaints and compliance. These were skills he honed at Jekyll Island - home of the toxic convert and Bent _ Lee dealership.
Bout time someone
got on the Noveshen trail. I suggested it years ago. Actually in 2008 when I saw what was about to go down. Read the posts.
Nope
Yoel was in house legal at NIRfrom about 2008 on.
I did find it quite interestin that he now id a TA. All the NIR transactions (conversions) went through Domestic Securities a master broker. They are an interesting DD target themselves
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |