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Hi Newbie - - -
Where have you been hiding? Are you a shareholder??
thanks
P
Listen Mike500 he is right give it a rest. You are telling us that the government did all this because some people didn't get in? The naysayers are ONLY people that couldn't purchase stock? Come on!!! do you hear yourself? that is just ridiculous from all points of view-childish on your part not to logically think of anything else to say to back Owen and his cohorts up.
I spent 100.00 for my 100K shares. Not a lot of money to lose. Don't care about the money AT ALL. NOT IN THE LEAST. IT IS THE PRINCIPLE of the entire thing. He played on people's hopes and dreams-and you put together your 100, mine, his, hers and that is a lot of money.
All his little cohorts got rich, bought lavish things,vacations,homes, etc on our money. Meanwhile OH, Marcia, Johnny, Teresa and whoever else he let get their little fingers on the money lived high on the hog.
I am sick of you saying people that are complaining don't have stock that isn't even the point.
I think you need to look over that complaint then the charge he was arrested for then if that doesn't turn on the light bulb in your head listen to the State Attorney Beth Phillips talk about what Owen did over the last few years. It isn't poor Owen it's poor shareholders who got scammed and who believed something would eventually come down the pike so they could help their families, friends, get out of debt. I don't think many wanted riches these days they wanted HOPE out of this recession.
If reading the complaint or the arrest charge makes you stop and think not to mention all the time that has passed with so many PROMISES of certificates/going public from OH then I feel sorry for you.
Don't know what kind of spell OH has on some of you people.
You may want to make a correction:
You post nay sayers don't have shares....I think the real truth is, that more than half the nay syaers on this board, do have shares in Petro. There are only a few of us that don't, and don't want any. I just "PRAISE GOD", I got my money back, because it would have really ticked me off, if my $2000.00 landed around Teresas neck, wrist, and/or finger....or in that expensive luggage she bought with your shareholder money. Of course there were "three little piggys" in the cookie jar...we won't leave out Owen and Johnny....and many others.....
So the point I'm trying to make, is......
GIVE IT UP, ALREADY.....
Petro stock is history.....never will trade....and you'll see as things progress, if the selling of Petro trading continues...others will be holding prayer meetings right along with Owen in the pokey....
You have GOT to be KIDDING....
Conference call tonight - 8:00pm
Petro goes forward and will trade soon, sorry for the people who do not have shares and have been talking bad about the company for the last 2 years. You had the chance don't be a sore loser now.
Sounds exactly like what Johnny Heurung has said on his calls.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56099297
Johnny Heurung, I simply don't trust him primarily because of his HYIP "financial" programs.
Johnny Heurung doesn't give any disclosure about how HYIPs really work and that every single one ends. P2P was touted as not being a HYIP but if you looked at all the boards and just the interest rate being paid it was definitively a HYIP All HYIPs are illegal by definition,some only last one or two days the bigger ones which keep bringing new money in may last over a year. Its the new money that keeps them going. P2P was exceptionally popular and the bottom of the pyramid was a whole lot of people who lost their money. Pepole like Johnny never tell anyone these could end today or tomorrow and how risky they are. He also gets a direct commission for every one he brings in and withdrals his money way before it dies. My friends that got involved really thought it would last forever, I told them about HYIPs and how there are several "boards" that are just for these types of programs. Sure they pay for a while and people think its great and tell their friends... who are usually the last ones in and loose all their money! Good way to lose friends! Here is one http://www.talkgold.com/forum/showthread.php?t=240927&page=247 They are piramid type schems and people play this lossing game every day, Proof Johnny promotes these as one of his "financial programs"
Quote: -------- Original Message --------
Date: Thu, 25 Jun 2009 12:05:57 -0400
Subject: Novalex
From: 7 Stars <joy@star7.us>
Some of you may already be in this program, but for those who are not, we just wanted to let you know about it as some of you have asked if we knew of any other programs out there.
They are out of Panama and just celebrated their 2-year anniversary of being in business.
You need to have funds in one of the paymasters they have listed in order to deposit into their company - or you could also do a wire transfer. We like Strict Pay at www.strictpay.com
You can get in at a minimal amount. With something like this, we do recommend to hang on to your initial deposit once you get it back and only put back in the returns you receive. That way you are not losing any funds and only working with the returns you received.
As always, if someone referred you to us, then check with them first before signing under our link as we don't want any complaints later that someone should have signed up under a particular person.
http://www.novalexfinance.com/?ref=37747
Joy & Johnny ( Heurung )
See if any of this sounds familiar
Quote:Warning to All Investors About
Bogus “Prime Bank” and Other
Banking-Related Investment Schemes
Lured by the promise of astronomical profits and the chance to be part of an exclusive, international investing program, investors are once again falling prey to bogus "prime bank" scams. These fraudulent schemes involve the purported issuance, trading, or use of so-called "prime" bank, "prime" European bank or "prime" world bank financial instruments, or other "high yield investment programs" ("HYIP"s). The fraud artists who promote these schemes often use the word "prime" – or a synonymous phrase, such as "top fifty world banks" – to cloak their programs with an air of legitimacy. They seek to mislead investors by suggesting that well regarded and financially sound institutions participate in these bogus programs. But prime bank and other related schemes have no connection whatsoever to the world's leading financial institutions or to banks with the word "prime" in their names. The Securities and Exchange Commission and other federal and state agencies are continuing to warn investors about these scams.
Extreme Secrecy
Promoters claim that transactions must be kept strictly confidential by all parties, making client references unavailable. They may characterize the transactions as the best-kept secret in the banking industry, and assert that, if asked, bank and regulatory officials would deny knowledge of such instruments. Investors may be asked to sign nondisclosure agreements.
Exclusive Opportunity
Promoters frequently claim that investment opportunities of this type are by invitation only, available to only a handful of special customers, and historically reserved for the wealthy elite.
Claims of Inordinate Complexity
Investment pitches frequently are vague about who is involved in the transaction or where the money is going. Promoters may try to explain away this lack of specificity by stating that the financial instruments are too technical or complex for nonexperts to understand.
You should be especially watchful for prime-bank related schemes promoted over the Internet. Despite numerous SEC actions charging prime bank promoters with multiple violations of the federal securities laws, prime bank offerings continue to proliferate in cyberspace.
If you have any information regarding the offer or sale of "prime bank" or similar financial instruments, or programs employing these instruments, please provide that information to the SEC's Division of Enforcement immediately by using the Enforcement Complaint Center. You also may want to visit other helpful websites to learn more about prime bank-related fraud.
http://simurl.com/crystalwisdom
Wow! I've heard some convoluted conspiracy theories in my time at the rodeo but yours is right up there with the worst of them. (right out of the gate too!)
When it comes to money, people will say just about anything.
You all still do not get it about Owen and the Money
They want to STOP the trading because some people and the government insiders do not have stock in Petro. They all miss the boat on getting their shares. So they think it I can't get rich you are not either. We the government and some people out there are trying anything to stop it, even in the 11 hour. I do not trust our government like I use to. I do not put anything past them. THAT IS WHAT IS GOING ON AND THEY KNOW IT. It not about Owen it about the MONEY. Alot of people are going to be left out, hope you finally get it.
Hello Petro Hopeful, a.k.a "baghdadiceman"; I hope all is well. I hate to say it, but there are no assets, if there were, there wouldn't be ANY legal problems, or the stock would be trading already. See, only when you have something to hide is when they keep looking for 2+ years.
GLTY Mike,
Harley
That is priceless.
Thank you Nodummy for setting Mike500 straight about my shares.
Why would I lie about it and why would I care so much if I didn't. As far as the company goes it is done. Petro/Owen is no longer going to hurt anyone anymore by stealing their money for their own personal gain. As far as Petro/Owen goes keeping these members hopes alive with promises that can never come true is a crime in itself but their are still those like MIKE500 who desperately want to believe Owen is telling the truth. LOL...Owen wouldn't know the truth if it slapped him in the face.
Withdrawing thousands of dollars daily by both Owen and his secretary is business as usually in so many companies that have billions of dollars in assets. Oh, and changing the withdrawal so it stays under the HOMELAND SECURITY radar is also business as usual for billion dollar companies? RIGHT MIKE?
When i die i would like to have Owen on my right amd Teresa on my left, So i could could die like Jesus; Between two theives!!
Ummmmm, Mike500, please read the complaint from the IRS then you also need to read the charges brought by the government. I think they already found out the TRUTH about OWEN!!! Just a wild guess. Owen will have to prove he has a company that is worth billions..lol..
Let's call it like it is...Owen is a legend in his OWN MIND!!! Oh sorry and also in the minds of his kool-aid drinkers which are dwindling.
Give me a break! I do have stock and thank goodness only lost 100.00 but I know people that purchased stock a few months back from Teresa Brown for 1000.00.
I wouldn't waste my time on this message board if I had no investment in this company. Yes, it is only 100.00 but my 100.00 and quite a few others 100 bucks made Owen Hawkins a lot of money.
You do not even know who I am so to say you know I do not have stock is ridiculous at best.
Owen is a thief no let me take that back. He is a two bit crook who finally caught the BIG ONE only he couldn't figure out how to keep it going. He couldn't even figure out how to take money out of the bank without drawing attention to himself. Even the bank tellers knew something was up. Listen if bank tellers can spot a crook from a mile away then something is wrong. Let's just face it OWEN WAS JUST NOT GOOD at even being a crook.
After Owen is Cleared on All Changers
Also when the government finds out the true about Petro and the Assets what is your small group of na sayers going to say then. I know Owen will be cleared. Just a matter of time to run thur the system. I do know what is going on. You do not know what I see, about the government, Petro and Kansas City Star. At the end of the day Petro will go forward and will trade. You can rest asure on that.
Mike500 are you talking about PTRZ or Petro Kansas?
In either case your post makes no sense.
PTRZ shares are publicly trading on the grey sheets. If anybody wants to take a chance with this company which probably will end up getting revoked here eventually then they can put a bid in and get some shares.
If you are talking about Petro Kansas shares then I have to question whether or not you have really followed that company over the past 2 years. Petro - Kansas shares have been sold continuously over the past 2 years. As recently as September of 2010 new investors could still buy into this scheme. Thousands of investors have bought billions of shares since the initial offerings in Sept of 2008. Anybody and everybody that wanted to buy shares was able to.
I have to admit though your statement that the people in the government are just mad because they couldn't buy shares is an instant classic.
Try reading this forum again and also the forum set up specifically for Petro-Kanas:
http://investorshub.advfn.com/boards/board.aspx?board_id=17087
Here is some of the results of the survey investors are invited to fill out for the U.S. Attorneys office. Part of what it tells is when people bought shares and who they bought from. One person posted in the survey that they bought their shares in October of 2010.
http://www.postalinspectorsurvey.com/survey2008/Lists/PETRO%20AMERICA%20SURVEY/summary.aspx
You should take the time to read believer17's posts better too. He clearly said that he does own shares.
Mike,
You need to step back and look at reality.
I got my money back last year...I stopped believing in Petro, because I could see all the lies Owen spewed...I do NOT regret getting out, and I'm looking at it from a whole new perspective this past week. I'm glad I could spot a scam....and I'm sorry so many people have spotted it too late, and I'm glad the government went in to stop it, until they can get further proof it's not a scam. Or it is....
What ever the case, Owen has to answer questions he hasn't answered yet. I'm sorry you can't see it, but one day you will....to come on the forum and say what someone did, or didn't do, has no bearing on the fact Owen and Petro is in a lot of hot water right now...quit trying to muddy the water with accusations that have nothing to do with Owen...Owen and Petro is the topic, not whether someone didn't get a chance to get in. IF that was the case, bet he's glad now!!
But really, WHO CARES...about all the inner circle and bickering going on around about Owen, and how the inner group is dealing with things...they seem frantic, and in turmoil...they'll get over it, once Owen is locked up, and so will you. Give it time, everything will work out. I don't know why you feel you have to attack someone, for Owens's sake. Put the blame where it belongs....on Owen, he created this mess.
One other thing, If Owen were any kind of a man, he wouldn't allow the bickering in the first place. He'd ask his followers to stop, but he's doing the opposite, because he's protecting himself through the chaos...
You make a good point! That is true...
As far as Owen or anybody else saying that Performance Packaging Group employees are Petro America Corp employees. I think that is a very false statement too. It's just Owen trying to stretch the truth to make Petro America Corp sound like it is accomplishing something. In this case Owen used it to say that Petro America Corp has created over 100 jobs.
Performance Packaging Group now provides Leavey's Creative Printing with the work it needs. Speaking of her contact with Performance Packaging, Leavey says, "He can do the labor for $11 [an hour], and I was paying these girls a lot more than that."
Hey thanks dhrr06-going to check it out now
Here's another board I haven't seen you on...
http://investorshub.advfn.com/boards/board.aspx?board_id=17087
Mrplatinum, one of petro's mine owners made a few comments last night. He indicated he gave a cease and desist to Petro, so 4 of Petro's mines will be gone. I think 5.2 billion was claimed value...chech me on those numbers, by checking his past posts...I could be wrong, I haven't had my coffee this morning...still half asleep...lol...the other board pertains to Petro Kansas, and this board is Petro Deleware ASWD/PTRZ
Why continue? Haha because the MLM's need you. It's a numbers game to them. They need to continue advertising to you and bringing you on board to their other ventures.
Another reason is that some of these people are not shareholders they are FOLLOWERSand they think of Owen as Jesus and I mean that. If you heard that woman talk about owen she held him on some sort of pedestal, WHY? What has OWEN done for PETRO and HER SHAREHOLDERS as of today? I have not seen any revenue on my money or the friends I know that are in have received no money. Promises of certificates started last November when he said we would have them in 30 days, then another 30 days then another 30...until now and still have not seen that certificate not that it is worth anything anyway. Owen has not kept his word about anything.
If you read any of the articles in the Kansas City paper. They had those meetings in a run down meeting hall and a hat was passed around to help with the money to pay for the room. As someone stated in the paper...if a company is worth billions not millions WHY THE HELL would they need to pass a hat to pay for a dingy room they are having their meeting in. Would ATT or Microsoft have a meeting in a crappy room and expect its shareholders to pay for it? I think not. The amount of net worth that Petro was suppose to have both the paper said and the complaint stated ...it put Petro 2nd in line as the most net worth company in the country. Haha..and yes shareholders had to pay for their own meeting room.
Where did they get the money to spring Owen out of jail from? That I would love to know.
They will ALL be accessories to this if they don't stop perpetuating this scam.
One more thing if you didn't read my other post from last night. That woman on the call said poor OWEN couldn't talk to his family or be with his dying mother. I would like to say LADY, that is what happens when you do something wrong, the police come and throw you in jail, in jail you do not get to talk to your family or go for visits on a whim. You must stay in jail. It is not a country club. Next time Owen goes back to jail I hope they throw the key away. Teresa Brown, Marcia, Johnny to follow
Imagine that Owen beefing up something for himself
you are welcome-they are all scum for helping perpetuate this thing a little more. The US Attorney's office should be notified and give a cease and diciest order asap to anyone doing such
no just 100 bucks but it isn't the money that matters to me it is the arrogance of them all. Owen has some sort of power over these people or they are just so stupid and gullible like a Jim Jones cult drinking the red kool-aid
The miners jumped ship? please explain I didn't hear that yet but it sounds so deserving.
They all deserve the silver handcuffs
didn't you just hear...the miners just jumped ship....Petro is sinking...now it really has no assets...who's going to buy stock that is worthless??? I see beleiver17 as being smart, if he didn't get into Petro...hopefully, at the end of the day, you'll be able to get your money back...I hope you didn't buy too much...
As far as Performance Packaging goes:
While Hawkins claims PAC has a 51% interest in Performance Packaging, he reluctantly admitted to the SEC in August 2009 that by contract, Performance Packaging has to reach a certain level of revenue before it must make any monetary distribution to Petro. Hawkins was evasive regarding whether the distribution benchmark had been reached, although he clarified, “I think it will.” When the SEC asked whether Petro has had any actual revenue from any of its other businesses since Petro’s initial offering, other than prospects, he stated “No.” Hawkins failed to disclose this benchmark to the attorney at the March 2010 meeting.
Sounds like as of March 2010 Petro America Corp has received no revenue from Performance Packaging Group. And because Owen was unclear what the benchmark is that has to be reached for Petro America Corp to receive revenue from Performance Packaging it is unclear if Petro America Corp will be receiving any revenue from Performance Packaging Group for 2010.
I would love to know the benchmark and I hope some day it comes out in an official report. It wouldn't surprise me in the least if it was intentionally made to be a very big number to insure that Performance Packaging would never have to give up any of it's revenue to Petro America Corp. The deal may have only been structured so that Owen could claim Performance Packaging as an asset so he'd have something real to share with shareholders.
As far as Owen or anybody else saying that Performance Packaging Group employees are Petro America Corp employees. I think that is a very false statement too. It's just Owen trying to stretch the truth to make Petro America Corp sound like it is accomplishing something. In this case Owen used it to say that Petro America Corp has created over 100 jobs.
These people that held the conference call tonight are tied up in Petro, using Petro for their MLM businesses...they need Petro because Petro has made them a lot of money....so they are deperately begging people to stay...most likely many have sobered up from the koolaid they have been given, and are going home, and wanting their money back...this was a "panic attack" call tonight.
It will continue for a while, then the trial will start, and hopefully the REAL truth will come out. Since Owen hasn't been forthcoming with information to the shareholders, he probably doesn't have anything to show the govt either. We have to wait and see.
What I am wondering is will this whole thing ever end???? Why continue with conference calls???? What is really the point?
Believer17, you said that wonderfully.....I know that's what I was thinking....thanks for your insight.
Agree with you....the call tonight was a disgusting cry to save their multi-level businesses that are tied into Petro...if Petro goes down...so do they....oh, but they do it in the name of God, so it's ok....
They are employed by Performance Packaging. They are not employees of Petro America.
Did you hear this call tonight?
Quoting scripture? Please...he is a crook and got you snookered.
Owen has not done anything for anyone.
It's been over a year he promised those certificates with one excuse after another.
They are all full of it.
She asked "what do any of us have that is working out there" not to ask for our money back...someone please tell me if Petro is WORKING for you? WHAT HAS PETRO DONE THAT THEY PROMISED? NOTHING!!!!!!
You don't get to be with your family no matter who is sick or dying in your family when you are put in jail. So it being outrageous is just ridiculous. And you don't get to use money for bail that you stole. Just an FYI-
Now she says that OUR CEO is going through this for US...they make him sound like JESUS CHRIST...give me a break...keeps on saying he couldn't talk to his family...the jail was disgusting...it wasn't a country club lady it was a JAIL....that is what happens when you scam people....
I hope they all go to jail even the ones that are perpetuating this fraud even now.
They will NOT be able to go public ever with that complaint out there not to mention being arrested for SEC fraud, etc. Did you see the video of the States Attorney talking about the allegations people?
Owen must be laughing all the way to the jail and back again and hopefully back for good
Owen now has a new messenger...they are still singing this tune of going public...this should be illegal...how could they do this to people...what a bunch of crooks
They should all go to jail..
saying they employee over 100 people...and pay them with cash?
OMG please arrest them all so they will stop this BS
How was dinner with the US attorney?
Interesting
good traffic
also went up - - -
Petro to have an ALL important call....maybe passing out the hat for Owen's legal fund.
Of course i gotta listen and see what is said. My laugh for the night.
I totally agree with you about Chozan....if he is involved with Petro....what does that say about him.
this forum is not about CHOZON...and if they are saying petro will come back then they are not legit either
If people are that STUPID after the govt arrest Owen and after they read all about the complaint then SHAME ON THEM...if they want to bury their heads in the sand and listen to owen's BS about how it is all lies with his round and round about bs then any member that backs him or believes anything that Petro might rise out of the ashes is drinking the kool aid and there is no help for them...
This email is compliments of Scottrade.com
Oct 29, 2010 (The Kansas City Star - McClatchy-Tribune Information Services via
COMTEX) -- FAITH OR DOUBT -- investors in Petro America Corp. have found one or
the other amid federal allegations that the Kansas City-based company's stock
sales were a scam.
The Kansas City Star has talked with investors from the West Coast to England
and found different stories behind the company's owners.
Petro America shareholders claim they own $284 billion in assets, mostly gold
mines, through the company. Prosecutors, however, say they're victims of a $7.2
million stock fraud that funded cars, jewelry, travel and other trappings of
Petro insiders.
Some investors stand with Petro founder and CEO Owen Hawkins, even after federal
prosecutors charged him Wednesday with two felony counts, including securities
fraud. Other investors say they concluded the business was a scam even before
the first federal claims of possible fraud surfaced last week.
Kansas City
"I know we got got," said David Hill of Kansas City, who bought $500 of Petro
stock through a family member in August 2009.
Hill is like many investors who said they learned about Petro or bought shares
from friends, relatives or others introduced to them by someone they knew and
trusted.
Hill said he never received stock certificates but didn't seek a refund on the
chance Petro might be legitimate.
That changed last Friday when federal investigators called the stock sales a
scam in a lengthy affidavit filed in U.S. District Court in Kansas City.
Hill formally asked the company for his money back on Monday, recalling Hawkins'
frequently repeated offer to buy back shares of unhappy investors. A Petro
America e-mail told Hill to get his money from the family member -- the company
hadn't sold stock since 2008.
A motorcycle accident has left Hill unable to work for more than three months.
"Right now $500 would mean a lot to me," Hill said.
England
Peter Lee of Wallasey, England, has been burned by an investment scam before.
But he thought Petro America wasn't a scam -- no one had asked for more than the
$100 he originally invested.
Lee, 59, was not swayed even by the federal affidavit last Friday.
"Until Owen (Hawkins) is arrested and jailed, I'm afraid I'll stand by Owen,"
Lee said early this week.
Hawkins was arrested but not jailed Wednesday. And Lee has since read the court
documents, which he said changed his thinking.
"I feel a fool because I've been scammed before," he said.
Utah
When federal investigators came down on Petro America's stock sales last week,
Kathleen Crane stood behind the company and Hawkins.
"We're all in this. We're a family behind Petro America," the Utah resident and
stockholder said.
Crane, who wouldn't say how many shares she owns, said she doesn't believe the
government's version, which Hawkins has denied. Instead, she said, Hawkins has
been unfairly attacked and the company's plans blocked.
Contacted after criminal charges were filed against Hawkins this week, Crane's
outlook stayed the same.
"I'm very certain Mr. Hawkins knows what he's doing," she said. "I have faith
and trust in the guy."
Washington state
Brock Mitchell of Walla Walla, Wash., didn't buy his 100,000 shares. They were a
gift from his parents, who paid $100 for them in September 2008.
Mitchell said he listened to a few of the weekly conference calls Hawkins held
on Thursday evenings. But they became repetitive, and "I kind of got a little
bit worn out on the 'Hallelujah Chorus' type of deal," Mitchell said.
At least one call piqued his interest. Investors were told they could turn Petro
shares into loans.
Mitchell had been trying to modify the mortgage on his house and tried to
contact a lawyer in New York who was supposed to arrange the loans.
They never connected. Mitchell lost the house.
"If that came through, I'd keep the house," Mitchell said, adding that he had no
expectations of Petro gains now.
Connecticut
"I always thought it was a scam," said Lucille Trzcinski, a former English
teacher in Connecticut who made up her mind the first time she listened to one
of Hawkins' Thursday evening calls.
"I knew he was no CEO," Trzcinski said.
Trzcinski started to listen when she discovered her then-husband had spent
$1,300 on Petro America shares. She contacted the company but could not get a
prospectus, a document that tells about a company to help investors decide
whether to buy shares.
Trzcinski said she didn't care about the $1,300 -- it wouldn't change her life
-- or who allegedly got fur coats or fancy cars.
She bristled at the religious appeals that Hawkins used and the claims that
shareholders would be able to help charities and ministries from their Petro
gains.
"That is the thing that is so outrageous to me," Trzcinski said, "appealing to
the best in people for the worst possible reasons."
Louisiana
Ken Johnston in Greenwood, La., paid $200 for stock at a meeting in September
2008 with a friend and an active Petro America recruiter in the Shreveport, La.,
area.
He listened to some Thursday calls and heard about the gold mines and how his
shares would pay gains when they started to trade publicly.
But Johnston could find nothing to verify what he heard on the conference calls.
Last fall he talked with investigators from the Securities and Exchange
Commission about the calls.
"It's not the matter of the amount" invested, Johnston said. "The way I look at
it, somebody just lied to me."
Illinois
Paul Romano paid $200 for Petro America shares two years ago.
"I took it on a chance," the Christopher, Ill., resident said.
He expected to sell the stock publicly for a gain because Petro America was
doing deals that gave the company value. Romano is waiting on an auditor's
report that will show what the stock is worth.
"Either it's a fraud or it's real," he said. "I don't know."
Florida
Darren Fuller started out listening to Hawkins' Thursday evening calls "like
clockwork" from his home in Montverde, Fla., but eventually couldn't stand them.
"The lady introducing him makes it sound like she's introducing the president of
the United States," Fuller said.
Fuller distrusted the government even before he heard Hawkins say regulators
were interfering with plans to get Petro's shares to trade publicly.
Fuller, who is unemployed, said he still saw 50-50 odds for a payoff from his
$200.
"I want to believe it can happen, because I really need the money," he said.
------
Petro America investors
Federal prosecutors want to hear from victims of the alleged securities fraud.
Visit postalinspectorssurvey. com/PetroAmerica.
Updates about the criminal case will be available at www.justice.gov.usao/
mow/petro.html.
To see the government's affidavits and criminal complaint, go to KansasCity.com.
To reach Mark Davis, call 816-234-4372 or send e-mail to mdavis@kcstar.com.
To see more of The Kansas City Star, or to subscribe to the newspaper, go to
http://www.kansascity.com. Copyright (c) 2010, The Kansas City Star, Mo.
Distributed by McClatchy-Tribune Information Services. For more information
about the content services offered by McClatchy-Tribune Information Services
(MCT), visit www.mctinfoservices.com, e-mail services@mctinfoservices.com, or
call 866-280-5210 (outside the United States, call +1 312-222-4544).
Mark Davis
Copyright (C) 2010, The Kansas City Star, Mo.
-0-
I miss-spoke - got Teddie's offshore asset protection stuff she is offering through Jackie Rosenfeld mixed up with her onshore trusts she is offering through Chozan Behn.
My opinion about trusting somebody that sells their programs through MLM'ers, conference calls, webinars, and out of hotel lobbies doesn't change. But that is just MINE opinion.
Everybody can have their own opinion about it.
Sorry, but I do believe Chozan encourages people to deal ONSHORE, the legal way -- at least that is what I have gleaned
You realize the reason he is saying this is because his business relies on investors that have money/riches they need to hide in offshore accounts.
I was referring to how they move past the failures of programs like P2P and Novalex and just keep on pumping new programs in their places.
I heard on the call tonight Chozan basically tried to convince everybody that one way or another Petro America Corp will move forward.
Something about putting a new President of the company in place.
You realize the reason he is saying this is because his business relies on investors that have money/riches they need to hide in offshore accounts. He has to make everybody believe that Petro America Corp will still work out and everybody will be rich because a lot of people have already probably bought into this asset protection stuff and a lot of others are probably considering it.
Some people are probably gullible enough to pay money into an offshore trust even if they have no assets. That's how much some of these people fall for anything these people tell them. I personally wouldn't be surprised if the people collecting all this money for the offshore trusts disappear with it all like the people that ran Novalex and Omicon. We'll see.
One problem this was not a HYIP or MLM this was suppose to be STOCK
Teddie is a kool-aid drinker that is why. They should haul her butt to jail to for helping to keep this alive even in spite of the charges. Now that the charges were filed and all the info is out there that Owen scammed everyone Teddie is still promoting Petro.
They say the best way to be successful in the MLM/HYIP world is to never get bogged down by past program failures. When your MLM or HYIP program gets shut down or disappears you just move on to the next one.
Can't believe that Teddi Berkowitz is still sending Petro people emails about the Chozan Behn seminar....Today's one reads:
"I do not know if Owen will hold a call or not tonight. If we find out, we will announce it at Chozan's seminar. The number to call is is noted below."
You betcha'....lol....
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http://www.petroamericacorp.com/
FOR SEC FILINGS:
http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=0001122771&filenum=&State=&SIC=&owner=include&action=getcompany
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001447994&owner=exclude&count=40
________________________________________________________________________________________________________________________________
NEWS RELEASE
OFFICE OF THE UNITED STATES ATTORNEY
WESTERN DISTRICT OF MISSOURI
BETH PHILLIPS
Contact Don Ledford, Public Affairs ? (816) 426-4220 ? 400 East Ninth Street, Room 5510 ? Kansas City, MO 64106
www.justice.gov/usao/mow/index.html
OCTOBER 27, 2010
FOR IMMEDIATE RELEASE
KCK MAN CHARGED IN $7.2 MILLION FRAUD SCHEME THAT TARGETED THOUSANDS OF INVESTORS NATIONWIDE
KANSAS CITY, Mo. – Beth Phillips, United States Attorney for the Western District of Missouri, announced today that a Kansas City, Kan., man has been charged in federal court for his role in a $7.2 million securities fraud scheme that victimized thousands of investors across the United States.
“A federal criminal complaint alleges that Petro America was an empty facade of a business run by deception and false promises,” Phillips said. “Petro’s founder is charged with defrauding unwary investors by selling them worthless stock in order to support his lavish lifestyle.”
Isreal Owen Hawkins, 55, of Kansas City, Kan., was charged in a two-count criminal complaint filed in the U.S. District Court in Kansas City, Mo. Hawkins is the president and CEO of Petro America Corporation. A related civil forfeiture was filed against Petro America on Friday, Oct. 22, 2010.
The criminal complaint charges Hawkins with securities fraud and with structuring financial transactions in order to evade federal reporting requirements. Hawkins founded Petro America, which bills itself as a holding company for crude oil and gold mines (among other claimed assets) in 2007.
Count One: Securities Fraud
According to an affidavit filed in support of the criminal complaint, Hawkins began selling shares of unregistered stock to investors in 2008. At the time, the affidavit says, Petro America had no oil, no realistic prospects for obtaining, transporting or storing large amounts of oil, no significant assets, no revenue and no other employees. The government is aware of no evidence that Petro America has seriously pursued any opportunities to acquire oil fields or conducted oil trading operations. Nevertheless, the affidavit says, Hawkins and others have touted excellent prospects for Petro’s rapid growth in the oil industry.
According to the affidavit, more than 9,000 victims have invested in excess of $7.2 million since August 2008, but instead of using that revenue for legitimate business-related purposes, Hawkins and his co-conspirators allegedly withdrew investors’ funds from Petro America’s bank accounts in cash, which they spent on personal expenditures such as a house by the lake, luxury cars, a $5,700 fur coat, a $37,000 boat, a $5,200 piece of Louis Vuitton luggage purchased in Switzerland, expensive jewelry and travel.
Hawkins, the only full-time employee of Petro America, paid himself an annual salary of $595,000 under a contract that also granted him a $175,000 bonus, 500 million shares that are immediately exercisable, a company car, a company apartment in Missouri, and a dining card. Hawkins drew his salary in cash, in random amounts at inconsistent times, and the company did not withhold taxes.
Conspirators often recruited investors through churches and used religious language in their pitches, the affidavit says, including promoting Petro America as a once-in-a-lifetime opportunity to “share the blessing.” Petro America cultivated a relationship with the African American Ministers Alliance Group, the affidavit says, and according to its records made large payments to multiple Kansas City-area pastors, religious leaders and a local civil rights activist.
Investors lost from $100 to $100,000 each. Initially, many of the investors were drawn into the scheme with the promise that $100 would buy 100,000 shares of Petro America stock, the affidavit says, which Hawkins claimed was “book valued” at $2 per share. As the scheme progressed, conspirators raised the price to invest and claimed an ever-higher “book value” for the shares. The affidavit alleges that this allowed conspirators to unload shares to new investors at an increasing profit. To date, the affidavit says, the stock has never been properly registered or listed on any exchange.
Hawkins allegedly promised “meteoric returns” on investments. At the height of the scheme, the affidavit says, up to $700,000 flooded into the company each month.
Hawkins claimed that Petro America would be “the first African-American holding oil company to go public in the United States,” according to the affidavit. Investors were frequently told that they would be rich when the company “goes public.” Going public, the conspirators allegedly have said for over two years, is just weeks away. In reality, the affidavit says, the company has no significant assets or revenue stream (other than investor proceeds).
Alleged False Claims
Today’s affidavit alleges that Hawkins and co-conspirators provided materially false information to investors. For example, Petro America’s Web site includes a prominent photograph of the luxury office building at Two Pershing Square, ostensibly Petro’s “world corporate headquarters.” In reality, the affidavit says, Hawkins contracts with Regus Management Group LLC, a secretarial service that provides such services as telephone answering, fax and mail handling, use of the address and 16 hours of office usage for an initial monthly fee of $225.
According to the affidavit, conspirators have touted Petro America acquisitions in gold and rock mines as valuable holdings worth hundreds of billions of dollars. In reality, the affidavit says, Petro America’s interests in the gold and rock mines are essentially worthless. Petro America allegedly adopts wildly high valuations for the mines, most or all of which are not producing anything. Many or all of the mines are not actually mines at all, but mining claims. A mining claim is merely a plot of government-owned land upon which a person or corporation has filed a claim of rights to a mineral deposit, which may or may not actually exist.
Based on these representations, Hawkins and others claim that Petro’s assets are worth more than $284 billion. According to the affidavit, if this valuation were accurate, Petro America would be the second-largest company in the United States by market capitalization, larger than Wal-Mart, Apple or Microsoft. America’s largest company is Exxon Mobil, which has a market capitalization of $312.28 billion.
Count Two: Structuring Financial Transactions
Under federal law, banks are required to file Currency Transaction Reports for financial transactions that exceed $10,000 in one day. It is illegal to conduct multiple cash withdrawals in amounts less than $10,000 for the purpose of evading that federal reporting requirement.
The affidavit alleges that Hawkins and others made large cash withdrawals from Petro America’s bank accounts, which were structured to avoid bank reporting laws. For example, according to the affidavit, Hawkins and an unidentified co-conspirator visited Mazuma Credit Union several times each week. Sometimes they made big deposits of multiple checks into the company’s bank account; on most visits, the affidavit says, they withdrew $7,500 to $9,800, often on consecutive days. In this manner, Hawkins obtained at least $537,515 in cash from Petro’s account at Mazuma. The affidavit also alleges that Hawkins structured currency withdrawals out of Petro America accounts at U.S. Bank and Bank of America.
Web Site Support For Fraud Victims
Two Web sites have been established to collect information from the victims of the alleged securities fraud scheme and to provide updated information about the status of the case. Investors of Petro America are encouraged to provide information via an online form at http://www.postalinspectorsurvey.com/PetroAmerica Due to the volume of expected responses, this process has been automated and placed online; all communication from potential victims regarding the case should be made via this Web site. Updates about the status of the case will be posted at http://www.justice.gov/usao/mow/petro.html
Phillips cautioned that the charges contained in this complaint are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.
This case is being prosecuted by Assistant U.S. Attorney Daniel M. Nelson. It was investigated by IRS-Criminal Investigation, the U.S. Postal Inspection Service and the Office of the Missouri Securities Commissioner.
****************
This news release, as well as additional information about the office of the United States Attorney for the Western District of Missouri, is available on-line at
http://www.justice.gov/usao/mow/index.html
Copies of the Affidavit and Complaint filed by the U.S. Attorney's Office against Petro America Corp:
http://media.kansascity.com/smedia/2010/10/22/22/Affidavit.source.prod_affiliate.81.pdf
http://media.kansascity.com/smedia/2010/10/22/22/Complaint.source.prod_affiliate.81.pdf
Federal prosecutors have set up two websites for victims of the alleged scheme.
39 page criminal complaint against Owen Hawkins:
http://media.kansascity.com/smedia/2010/10/27/19/hawkins_complaint__1_.source.prod_affiliate.81.pdf
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