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nice... listen i am not against recycling... im all for it... but i have many questions about JBII... had you guys been less offensive i would have left it at that...
i'm trying to get him to branch out into strip joints and have his girls do lap dances for bags of plastic to run through his machines
JBII: How to Avoid Green Investment Scams
http://www.fool.com/investing/general/2010/01/06/how-to-avoid-green-investment-scams.aspx
CEO claims to have collaborated for MIT and NASA... this information have not been verified and until then is assumed to be false.
ahhhhhhhhhhhhhh you want to talk about your 2 cent yellow goop pos promo stock?....does ums?
you can bash whatever you want... this is an honest board...
can you provide me with the name of professor at MIT or researcher at NASA that can vouch for a collaboration with the JBII CEO?
thanks,
dude
Yet another example i have found and there are plenty more to look at....i think the real question at this point is which penny stock pump site has NOT pumped this 2 cent pos?
FRDM
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59428124
"There exists in society a very special class of persons that I have always referred to as the Bashers. These are folks who have chosen to bash a certain religion, philosophy, theory, idea or notion and cling to that belief regardless of any evidence that might, for anyone else, bring it into doubt. They are the ones who discourage and disparage the people who do real work in this world. No amount of evidence, no matter how strong, will bring them any enlightenment. They are the negative losers that find fault with everyone and everything.
BRIG_88
thanks for you DD... i hope we can protect investors from falling into this "GREEN INVESTMENT SCAM" (as described by MOTLEY FOOL http://www.fool.com/investing/general/2010/01/06/how-to-avoid-green-investment-scams.aspx)
"There exists in society a very special class of persons that I have always referred to as the Believers. These are folks who have chosen to accept a certain religion, philosophy, theory, idea or notion and cling to that belief regardless of any evidence that might, for anyone else, bring it into doubt. They are the ones who encourage and support the fanatics and the frauds of any given age. No amount of evidence, no matter how strong, will bring them any enlightenment. They are the sheep who beg to be fleeced and butchered, and who will battle fiercely to preserve their right to be victimized."
-- James Randi
Thus his honrary degree from MIT and his joining the CSAIL group by invitation from MIT.
grantg2
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46089952
scion Share Monday, April 26, 2010 6:32:57 PM
Re: grantg2 post# 22544 Post # of 91442
No honorary degrees is an MIT tradition going back to ... Thomas Jefferson
http://web.mit.edu/newsoffice/2001/commdegrees.html
Thus his honrary degree from MIT and his joining the CSAIL group by invitation from MIT.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49456008
YOU CLAIM TO HAVE ALL THE DD...
yet cannot provide me with a simple phone number to confirm the CEO actually collaborated with NASA or MIT...
the dude
Putting you on ignore, lacking credible DD.
Scream Scam and Fraud, only you will have to answer, unless you of course have acomplices...
LOL. You lack proof of your claims.
I have in the past performed the DD, and remain satisfied...
You can perform the same DD and learn for yourself, you made the allegations, I challeged your falsehoods and allegations of fraud, and scam, the only reason why I am here...
Call NASA and MIT yourself and prove to your self that the DD does not exist... Prove it...
I do not have anything to prove to you, Dudeerino, its your credibility on the line...
Call the information services if you lack the yellow pages.
The website pages were taken down, due to endless consumption of time and energy spent on calls to MIT and NASA, so I dont have the pages to spoon feed you, but you can call like many have done in the past
give me the name of an MIT professor or a researcher at NASA that can vouch for the CEO of JBII...
personally i think the guy (John Bordynuik) is a joke... he never graduated from college... yet he spams about NASA and MIT to gain some credibility..
PROVE IT!
I guess I could also be so narrowminded to think that way...
you could call MIT and NASA like all that have done the DD in the past... Try it...
Try the yellow pages under NASA and MIT, dial the numbers and ask...
What you represented is not there, prove it to yourself.
Spoon feed a naysayer holding no real DD, nah.
Go ahead and prove your points of SCAM and FRAUD...
Bet you cant, dude.
I AM ASKING YOU TO HELP ME VERIFY THE CLAIM THAT THE CEO OF JBII COLLABORATED WITH NASA AND MIT... ALL I NEED IS A PHONE NUMBER...
but guess what, you don't have it... because they never collaborated... he sold them some stuff... thats it... it could have been toilet paper
real research gets published!!!
When you become an investor perhaps...
Until then what appears to be your presented campaign lacks DD.
So, I want you to pursue it for your education, not mine.
JBI, Inc. is fine and expanding hiring and negotiating and selling products with out allegations of SCAM and FRAUD you have so misguidedly posted without supporting proof other than an opinion of the fool from a year ago...
Waiting on your defense...
NO, IT WOULD ENLIGHTEN FUTURE INVESTORS TO KNOW THAT THEY CAN VERIFY CLAIMS ABOUT THEIR CEO (John Bordynuik)
POST IT IF YOU HAVE IT.
Now you want me to spoon feed you? LOL
DO SOME DD, YOUR OWN.
LOL. Using people like Motley Fool, is not DD.
Start at JBIGLOBAL.COM
CAN YOU PLEASE PROVIDE ME THE NAMES OF THE COLLABORATORS FROM NASA OR MIT????
THANKS,
the dude
CAN YOU PROVIDE ME THE NAMES OF THE COLLABORATORS FROM NASA OR MIT????
the dude
Its an unfinished dialog with no responder...
LOL. You can call the fool and ask them, that part of DD. A look back on poor journalism is not good DD.
Why has JBII not formed a suit? Ask them, personally I believe they have been invited or will be invited to pursue a tour and unpaid interview...
Feeling dumb?
DD works, looking at a company based on real DD would not present allegations of FRAUD and SCAM if its not there... where is your proof of such? Please don't hide behind poor investigative research of the fool...
Make you look really bad...
the article that calls JBII a fraud is from January last year..
http://www.fool.com/investing/general/2010/01/06/how-to-avoid-green-investment-scams.aspx
it specifically refers to the plastic-to-oil process...
why haven't they sued MOTLEY FOOL???
this is form one of the posts in the article...
"Good call on naming JBII as a likely dud! So far, this company has failed to produce anything other than press releases, accounting irregularities, and serious questions as to whether or not they will ever begin production. The reality has not lived up to the hype. Maybe 2011 will be their year - but I won't be holding my breath..."
Because the general public reading stuff like that helps the frontloaders to unload...
DD will help you alot. Try it, today.
all of the large oil companies have green research...
quick example:
BP SOLAR
http://www.bp.com/genericcountryjump.do?categoryId=9070&contentId=7038143
nobody will ever buy JBII, as MOTLEY FOOL says, because it is a green investment scam....
why do you think that article is still up there???
It means the fool presented general concepts of journalism, not facts such as CVX is in the business of drilling and refining fuels not exploring research into P2O...
Feeling dumb...
There's a lot of money made in what Chevron does, they are not prepared to have invested in what JBI, inc has done and had no interest, therefore they found no motivation in doing so....
Perhaps they will make an offer to buy JBI, Inc, and then prove to the world they are making green efforts... LOL What would you then twist into fraud and how, then will you scream SCAM?
what do you mean?
JBI Inc., which is promoting a waste plastic-to-oil process that "produces oil at less than $10 per barrel." Now why didn't Chevron (NYSE: CVX) think of that?
http://www.fool.com/investing/general/2010/01/06/how-to-avoid-green-investment-scams.aspx
it specifically refers to the plastic-to-oil process...
what has changed since then?
Start with the general directory operator, I did...
Simple DD will answer the questions you have, really.
Clean it up.
I read the fools report a year ago, different company and history, try to catch up with the DD.
Your almost there, DD starts with doing some, not with cut and paste of history...
You'll be glad you did.
MOTLEY FOOL EXPOSES JBII AS A GREEN INVESTMENT SCAM
http://www.fool.com/investing/general/2010/01/06/how-to-avoid-green-investment-scams.aspx
THERE IS NO PROOF OF A COLLABORATION!!!
I DON'T EVEN KNOW WHO TO CONTACT IN NASA OR MIT TO VERIFY THIS!
EASY ON THE THREATS, IF THEY WANT TO SUE, THEY CAN START WITH MOTLEY FOOL!
http://www.fool.com/investing/general/2010/01/06/how-to-avoid-green-investment-scams.aspx
THEY PUBLISHED AND ARTICLE STATING JBII IS A SCAM!!!
I WONDER WHY ITS STILL THERE!!
Excellent cut and paste, but proof of you allegations of fraud and presented allegations, not...
LOL.
Get real or be gone with this maddening campaign to smear, many have tried and failed, so will you.
Present the facts of your scam allegations... SEC, and Ernst & Young want to hear from you...
Contact JBI, Inc, also, they want to hear from you today.
ACTION: TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF FROM 70,000,000 TO 150,000,000 (THE “SHARE INCREASE”)
On November 6, 2009, our Board of Directors approved, subject to receiving the approval of the holder of a majority of our outstanding capital stock, an amendment and restatement of our Articles of Incorporation (the “Restated Articles”), to increase the number of authorized shares of common stock we may issue from 70,000,000 to 150,000,000 (the “Share Increase”). The Majority Stockholder approved the Restated Articles pursuant to a written consent dated as of November 6, 2009. The Restated Articles effecting the share increase will become effective following filing with the Secretary of State of the State of Nevada, which will occur promptly following the 20th day after the mailing of this Information Statement to our stockholders as of the Record Date.
http://www.sec.gov/Archives/edgar/data/1381105/000121390009003338/def14c_jbi.htm
start with dilution
On January 14, 2010, JBI, Inc., (the “Company”) consummated a confidential private placement (the “Private Offering”) with certain accredited investors for the issuance and sale of 8,260,842 shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”) at per share price of $0.80 for aggregate offering proceeds of $6,608,673.
http://www.sec.gov/Archives/edgar/data/1381105/000121390010000259/f8k011410_jbi.htm
That's another series of twisted facts and allegations...
Message boards are for discussing thoughts and DD...
you are failing in both areas.
The share counts have gone down, and more and more have move into stronger hands and private accredited shareholders...
Dont be fooled by the numbers with JBII, many have, but lack the DD skills to understand it...
Where is your proof of dilution? If your twisted facts were true the value PPS would be going down, right? Wait until the larger sideliner move in... J/V partners, purchasers of fuels, and hedgefunds.... right you are, lol.
Upgrading of Auditors and ability to track accounting around the world is no proof of accounting irregularities.... where is your poof of this..... got none, why the campaign to smear the company and E&Y, and while at it the SEC?
Toss that bag into the processor for proof of technology.
please post the reference of this receipt... lol
collaboration? so the guys that sell NASA its toilet paper also collaborate with them?
the dude
when NASA and MIT collaborate with industry (John Bordynuik) on cutting edge research they publish the results in journals and conferences...
show me a refereed journal article or conference paper that shows this????
in term for all the accounting changes,. its extremely suspicious that they can't stay with the same firm...
so far, the only thing they've accomplished is diluting the company... that you can see in the fillings...
the dude
I have been with JBII a long time now, and have done my DD...
I suggest you do some.
MIT and NASA have a good working relationship with JBI, Inc. I know because I have confirmed this.
Accounting, don't make me laugh, you have no proof of your allegations of Scam and Fraud, If you do, please alert the SEC and Ernst and Young, and see if they act on these falsehoods. They will act on their poof of JBII with the next filing, surely you act now while they complete their work and scream scam and fraud...
Be carful of what you post, its easy, I know to hide behind a message board, but please realize they are watching...
Come on back to the JBII board when you have real DD proving your falsehoods.
Hows it feel to be sprayed by and cleaned up by a virtual PAK-IT cleaning line of Products?
it appears that the CEO (John Bordynuik) of JBII is a fraud...
worked with MIT or NASA.... the only reference is this paid pumper magazine...
http://esbjournal.com/2010/09/john-bordyniuk-nasas-go-to-data-recovery-guy/
then on to the accounting problems... somethings wrong... don't you see that?
the dude
You appear to lack real DD...
Is it the potential Margin Call that has you acting out a campaign of false statements of the potential of JBII?
It appears you lack real DD Skills. JBII welcomes tours and emails regarding questions and proof of technology.... why dont you call the office. SEE: JBIGLOBAL.com
You appear to have a empty plastic bag without real data and solid reasons for your actions. I would suggest a tour and toss of that bag into the processors, perhaps you too, would see smell and be able to taste the money being generated.
Cant respond to you private posts, so seek the real DD...
LOL.
there is no proof that the CEO (John Bordynuik) of JBII worked with MIT or NASA....
the only reference is a pumper magazine...
http://esbjournal.com/2010/09/john-bordyniuk-nasas-go-to-data-recovery-guy/
JBII DD - HOW MANY ACCOUNTANTS?
the constant change of accounting firms demonstrates they have an accounting problem... this is not normal..
Moore > Seale > Gately > Withum / MooreStevens > Ernst
Feb 1, 2007: Moore and Associates, Chartered, represents 310 Holdings (TRTN) as their registered accountant on their first audited financials filed with the SEC
http://www.sec.gov/Archives/edgar/data/1...
Nov 17, 2008: Moore & Associates, Chartered, fired as registered accountant for 310 Holdings, INC. (TRTN)
http://www.sec.gov/Archives/edgar/data/1...
Nov 17, 2008: Tarvaran, Askelson & Company, LLP, hired as registered accountant for 310 Holdings, Inc. (TRTN)
http://www.sec.gov/Archives/edgar/data/1...
Mar 16, 2009: Tarvaran, Askelson & Company, LLP, fired as registered accountant for 310 Holdings (TRTN).
http://www.sec.gov/Archives/edgar/data/1...
Mar 16, 2009: Moore and Associates, Chartered, hired as registered accountant for 310 Holdings (TRTN).
http://www.sec.gov/Archives/edgar/data/1...
Aug 6, 2009: TRTN fires Moore & Associates as their registered accountant
http://www.sec.gov/Archives/edgar/data/1...
Aug 6, 2009: TRTN hires Seale and Beers, CPA to replace Moore
http://www.sec.gov/Archives/edgar/data/1...
Aug 14, 2009: TRTN hires Gately & Associates to replace Seale and Beers, CPA
http://www.sec.gov/Archives/edgar/data/1...
Aug 17, 2009: TRTN fires Seale and Beers, CPA (replaced by Gately on Aug 14)
http://www.sec.gov/Archives/edgar/data/1...
Aug 27, 2009: Moore and Associates, Chartered (fired as TRTN's auditors on Aug 6), has their PCAOB registration revoked
http://www.sec.gov/Archives/edgar/data/1...
May 14, 2010: JBII fires Gately and Associates as JBII's independent registered accountant
http://www.sec.gov/Archives/edgar/data/1...
May 14, 2010: JBII hires Withum + Brown, PC to replace Gately as registered accountant
http://www.sec.gov/Archives/edgar/data/1...
Oct 22, 2010: Gately and Associates, LLC (fired as JBII's auditors on May 14), has their PCAOB registration revoked
http://www.sec.gov/Archives/edgar/data/1...
Jan 24, 2011: JBII fires Withum + Brown, PC as their independent registered public accounting firm
http://www.sec.gov/Archives/edgar/data/1...
Jan 24, 2011: JBII hires Ernst and Young, LLP as their independent registered public accounting firm
http://www.sec.gov/Archives/edgar/data/1...
the CEO claims to have worked with MIT and NASA... they only reference is this magazine (the entrepreneur and self-employed magazine)
http://esbjournal.com/2010/09/john-bordyniuk-nasas-go-to-data-recovery-guy/
i could not find any publish articles in referred journals that show a research collaboration took place...
cutting edge research is commonly published in the world of academia... with all the names of the collaborators...
dude
is anyone here familiar with the JBII waste-to-energy SCAM???
the dude
men get 4 years in prison for $240M tax scheme
By GENE JOHNSON, Associated Press Fri Jan 28, 8:39 pm ET.
SEATTLE – Two Seattle-area men were sentenced Friday to four years in prison for concocting a bogus tax shelter to help a Hollywood mogul, the owner of the New York Jets and other wealthy clients avoid paying $240 million in payments.
Jeffrey Greenstein, 48, was the founder and chief executive of the boutique investment firm Quellos Group LLC, and Charles Wilk, 52, was its tax attorney. They acknowledged that they ran the tax shelter from 1999 to 2006, to make it appear that their clients' princely financial windfalls were offset by losses from offshore funds so no taxes would be owed.
They somberly told U.S. District Judge Ricardo they were sorry and deeply humiliated.
"I failed to live up to the standards I set for myself," Greenstein said. "There's no way to minimize what I did, justify it or rationalize it."
Seattle U.S. Attorney Jenny Durkan called the case one of the biggest tax frauds in U.S. history, and said the $240 million could have provided loans to hundreds of small businesses or a month's worth of hot breakfasts for a million schoolchildren.
"It's not the IRS that was cheated," she said.
The shelter's five clients included Haim Saban, who licensed the Power Rangers from Japan in the 1990s, and philanthropist and New York Jets owner Robert Wood Johnson IV.
Prosecutors said the clients were misled about the nature of the tax shelter, and they have paid the IRS back all $240 million, plus interest. Greenstein paid back all of the money he made from the scheme — $6.4 million — and Wilk paid back the $600,000 he made. The pair also reimbursed the government nearly $300,000 for the cost of their prosecution.
BlackRock Inc., a prominent investment firm, acquired Quellos' main business for $1.7 billion in 2007.
U.S. District Judge Ricardo S. Martinez told the defendants he struggled with balancing their criminal behavior against their otherwise exemplary lives.
For decades, Greenstein has been a generous donor to and volunteer with organizations ranging from the Seattle Art Museum and University of Washington School of Medicine to the Jewish Federation of Greater Seattle, which was devastated by a mentally ill gunman's rampage in 2006.
Friends and supporters wrote about 200 letters to the court on his behalf; one of them, by Costco Corp. founder Jeffrey Brotman, said Greenstein was "selfless" with his time, money and expertise.
In 2006, Greenstein helped found Hope for Heroism, a nonprofit that helps wounded and traumatized Israeli soldiers rejoin society. Several soldiers, some of them suicidal, lived with Greenstein and his family during their darkest times, and spoke on behalf of Greenstein in a video submitted to the court.
"The letters describe a man who obviously loves his family very, very much, who cares about his community," the judge said. "Yet that same man stands in this courtroom having admitted defrauding the U.S. government."
Greenstein and Wilk pleaded guilty to fraud and to assisting in the filing of a false tax return in September. As part of the deal, prosecutors agreed to recommend no more than six years in prison, and defense attorneys sought no less than two years.
In addition, each defendant agreed to speak about what they did at their graduate schools — Greenstein, at the University of Washington Business School, and Wilk at New York University's School of Law.
NYU declined to let Wilk speak, saying that whatever he might say would be of dubious ethical value, since he might only be saying it to curry the favor of the court before his sentencing. Greenstein spoke at the University of Washington, though, taking responsibility for misrepresentations he made to clients and to the U.S. Senate when it investigated such tax shelters.
Parts of that speech troubled the judge, who noted that instead of using words like "scam," "crime," or "fraud," Greenstein told a class: "I knew that there was no real stock, but instead, a synthetic equity forward position created with over-the-counter legal contracts between two offshore special-purpose vehicles."
"These are young students in grad school," Martinez said. "You missed a wonderful opportunity to tell those kids at that time where that (ethical) line is."
The wealthiest among Quellos' clients was Saban, who sold his half of the Fox Family Channel, which included the Power Rangers, to The Walt Disney Co. in 2001 in a $5.2 billion deal. He enlisted former Los Angeles lawyer Matthew Krane to handle taxes on the transaction.
Krane then hired Quellos to offset the capital gains in exchange for a $36 million kickback from the company. He pleaded guilty to charges of tax evasion and false statements, and was scheduled to be sentenced next week.
Durkan said that although Quellos' clients did not know the exact nature of the tax shelter, "people who could afford to pay were trying to find ways not to."
Wilk's attorney, John Keker, also criticized the clients, though he said he was not trying to shift blame from Wilk.
"The idea that these people are victims — these people are people that come out and say, 'I have $1.5 billion in capital gains, and I don't want to pay any taxes,'" he said.
Financial fraud crackdown lands in Miami
http://www.bizjournals.com/southflorida/news/2010/12/06/miami-cases-are-part-of-massive.html
The Department of Justice highlighted its financial fraud enforcement actions in press conferences around the country, including a Miami announcement that outlined 21 cases involving $424 million in losses. Those cases have resulted in 18 guilty pleas and nine sentencing hearings so far.
At the same time, the U.S. Attorney’s Office in South Florida announced the creation of a South Florida Securities and Investment Fraud Initiative. The effort includes a who's who list of law enforcement agencies in the region from the federal, state and local levels.
The national initiative dubbed "Operation Broken Trust" included investigations by members of the federal Financial Fraud Enforcement Task Force established a year ago.
The national effort has involved enforcement actions against 343 criminal defendants and 189 civil defendants for fraud schemes involving more than 120,000 victims. The operation’s criminal cases involved more than $8.3 billion in estimated losses and the civil cases involved estimated losses of more than $2.1 billion.
Cases included Ponzi schemes, investment scams, business opportunity fraud, “pump and dump” stock schemes, foreign exchange frauds and false bankruptcy petitions to avoid claims by victim-investors.
Attorney General Eric Holder said the operations were intended to warn both the public and perpetrators – promising "we will use every tool at our disposal to find you, to stop you, and to bring you to justice.” (For Holder's full remarks, click here.)
Some victims lose only thousands of dollars while others lose their life savings, said U.S. Attorney Wifredo A. Ferrer of Miami. “While the victims of fraud are financially ruined, the fraudsters live a life of luxury. Together with our law enforcement and regulatory partners, we hope to help put an end to this type of fraud.”
Two of the cases involve those who helped forensic accountant Lewis B. Freeman of Miami, who was sentenced to eight years, and disgraced attorney Scott W. Rothstein of Fort Lauderdale, who is serving a 50-year term for his billion-dollar Ponzi scheme.
A Justice Department press release noted that Debra Villegas, former COO of Rothstein, Rosenfeldt and Adler, assisted Rothstein by helping fabricate names for fictitious plaintiffs and defendants and preparing false documents. Villegas pleaded guilty and was sentenced on Oct. 8 to 120 months’ in prison and was ordered to pay $363 million in restitution.
The press release noted actions by Jose Wong and Steven Jockers, who worked for Freeman, saying they helped with the misappropriation of funds from fiduciary accounts. It is estimated that Freeman stole more than $6 million from fiduciary accounts he was responsible for safeguarding.
Wong and Jockers both pleaded guilty. In September, Jockers was sentenced to 18 months of home confinement and Wong was sentenced to 24 months of home confinement.
Below are summaries of the Southern District of Florida’s securities and investment fraud prosecutions and case activity, organized into the categories of public company, business opportunity and investment schemes, based on information from the press release. (For the full press release, including cases where the plea status wasn't clear, click here.)
Public company manipulation
South Florida has been an historic epicenter of penny stock fraud and the department took action against multiple schemes:
Bruce Palmer was engaged in a scheme to manipulate the publicly quoted share price and trading volume of Accesskey IP, resulting in a potential loss of $1 million. A notice to the court indicates Palmer will enter a guilty plea.
Tzemach David Netzer Korem and Jean R. Charbit were charged with conspiring to manipulate the publicly quoted share price and trading volume of ZNext Mining Corp., resulting in a loss of $300,000. Both pleaded guilty. Sentencing for Charbit is scheduled for Jan. 14 and sentencing for Korem is scheduled for Feb. 4.
Larry Wilcox, of West Hills, Calif., was the CEO, owner and controller of millions of shares of publicly traded UCHB. He was charged with conspiring to pay kickbacks to a pension fund fiduciary to induce the fiduciary to misappropriate money from a pension fund, resulting in a $40,000 loss. He has pleaded guilty and sentencing is scheduled for Jan. 2.
Steven Humphries and John Buckeye Epstein were charged with engaging in a scheme to pay kickbacks to a pension fund fiduciary to induce the fiduciary to misappropriate money from a pension fund in order to buy restricted common stock at inflated prices, resulting in a $40,000 loss. On Oct. 7, both defendants pleaded guilty. Epstein is scheduled for sentencing Jan. 18 and Humphries is scheduled for sentencing Jan. 24.
Scott Sand was charged with engaging in an alleged scheme to pay kickbacks to a pension fund fiduciary to induce the fiduciary to misappropriate money from a pension fund in order to buy restricted common stock at inflated prices. He pleaded guilty on Dec. 2.
Jeffrey Galpern was charged Nov. 19 with engaging in a scheme to manipulate the publicly quoted share price and trading volume of Crystal Properties Holdings of which he owned and controlled millions of shares in stock, which resulted in an intended loss of $250,000. The parties filed a notice informing the court of Galpern’s intention to plead guilty.
Anthony Mellone, president and CEO of publicly traded TSHL was charged Nov. 16 with engaging in a scheme to pay kickbacks to a pension fund fiduciary to induce the fiduciary to misappropriate money from a pension fund in order to buy restricted common stock at inflated prices, resulting in an intended loss of $120,000. The parties filed a notice informing the court of the Mellone’s intention to plead guilty.
Pedro De Sousa and Guillermo Rosario were charged in connection with their operation of businesses called FX Professional Solutions and FX Professional International Solutions. The defendants lost all of their investors’ money and concealed their fraud by paying old investor debts with new investor money. Both pleaded guilty and are scheduled to be sentenced Feb. 4.
Business opportunity
Among the most common business opportunity schemes in South Florida are those involving vending machines. Among those involved and their sentences:
Seth Lehrenbaum, 78 months in prison and $950,000 in restitution.
Donald Williams (also beverage and greeting card business opportunities with $4 million in losses) 78 months in prison.
Julio Camacho, 24 months in prison and more than $200,000 in restitution to victims.
Corina Guillott has entered a guilty plea, but hasn't been sentenced. Several others are charged in the case as well.
Investment schemes
Schemes involved the selling of notes and an investment in an oil well:
Luis Felipe Perez lived a lifestyle that included a multimillion-dollar home, expensive cars, and international travel as he promised annual returns of 24 percent to 120 percent for his New York jewelry businesses and pawn shop. The Ponzi scheme resulted in $37 million in losses and he was sentenced to 121 months.
Michael Geraud set up a boiler room company called Global Petroleum Strategies Management, which purportedly sold $966,000 in interests for a dry oil well. Geraud got five years.
Ronnie Bass and other conspirators raised more than $12 million by selling unsecured notes issued by Homepals Investment Club LLC and Homepals LLC., which prosecutors allege is a Ponzi scheme. Bass pleaded guilty Oct. 25.
Read more: Financial fraud crackdown lands in Miami | South Florida Business Journal
SEC ENFORCEMENT TRENDS 2011: REOGRANIZATION
January 06, 2011
This is the third in a series of articles that will be published periodically analyzing the direction of SEC enforcement.
While the Commission has been proposing new rules, the Division of Enforcement has undergone perhaps its most significant reorganization since creation. The reorganization is complete and the Division is moving forward, rebuilding its reputation as an effective enforcer.
The reorganization was designed to streamline and speed the investigative process. It had two main features. First, the initial layer of management in the division was eliminated. This was the branch chief position. The eliminating this tier was designed to put “more boots” on the ground, not just to eliminate a management layer in a division which many have thought for years was top heavy. Now the initial management layer starts at the Assistant Director level.
The second key facet of the reorganization was the creation of specialty groups. Those units focus on asset management, market abuse, structure and new products, the FCPA and municipal securities and public pensions. These units are designed to marshal and focus the expertise of the Division. There is also a new Office of Market Intelligence which will sift tips and other sources of information in an effort to cull key information about possible new matters from the many sources of information available to the division.
Whether eliminating the branch chief position really puts more boots on the ground is questionable. Some of the former branch chiefs assumed new Assistant Directors positions. On the other hand creating specialty units should facilitate the work of the Division. As initially created the Division had specialty units which were abolished in the early 1980s. In addition, the OECD made positive comments about the creation of the FCPA unit in a recent report.
Statistics from fiscal 2010 suggest that the Division is in fact becoming more efficient. According to NERA, Enforcement settled 694 cases during the most recently ended fiscal year. That is the highest number since before the market crisis. There was a significant increase in settlements with individuals although corporate settlements declined.
A key part of the reorganization in the future may be the new initiatives to encourage cooperation. In new Sections to the Enforcement Manual the Division, added provisions to incentivize individuals and corporations to cooperate with on-going investigations. Modeled after techniques long used by the Justice Department in criminal cases, the new initiatives offer a potential defendant the prospect of avoiding prosecution through either a non-prosecution or a deferred prosecution agreement. Again, the point is to speed the work of the Enforcement Division, a goal that is fully consistent with the newly created time limitations on investigations incorporated into Dodd-Frank.
At this juncture it is difficult to determine the precise impact of these new cooperation initiatives. The recently announced non-prosecution agreement with Carter’s Inc. does however provide some insight. There the Commission entered into a non-prosecution agreement with the company in a financial fraud case. The agreement was based on the cooperation of the company and the isolated nature of the fraudulent conduct.
The result in Carter’s Inc. is similar to the one in Seaboard where, based on cooperation and isolated wrongful conduct, the SEC chose not to prosecute the company. If the new cooperation initiatives are limited to circumstances where previously the Commission would have elected not to prosecute then it would appear that they will do little to facilitate the work of the Enforcement Division. On the other hand, if the initiatives are used to encourage cooperation by offering an alternative to prosecution while giving the SEC the ability to obtain sanctions and institute remedial measures, they may well achieve the intended result. Under those circumstances the Commission could broaden their application beyond the limited circumstances of Seaboard and Carter’s Inc. That would encourage companies to cooperate while permitting the Commission to ensure future compliance.
http://www.secactions.com/
is this one ready for a bounce you think or do u think this is a scam
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=46592234&txt2find=bkpg
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Welcome to the Spam and Scam Stock Message Board!
The Spam & Scam Stock message board is intended to share info on stocks that are currently being spammed to the public by e-mail, fax, phone and internet message boards through "stock awareness" or "promtion" companies paid to "pump" a stock for the benefit of company officers.
Typically, these are the riskiest stocks since the companies are deliberately paying people to "pump" the share price to enable company officers sell stock to the unsuspecting public. Unfortunately, people buying these hyped stocks will become the next generation of BAG HOLDERS
Be advised that many stock promotions sent to the public are usually distributed by unidentified individuals seeking to defraud the public. Investors are encouraged to use care and Due Diligence (DD) in their investment decisions, as mass spam campaigns are commonly used by unscrupulous promoters in “pump and dump” schemes.
In most cases, these securities promoters and those who finance them hope to turn a quick profit when unsuspecting investors buy stocks based on unsupported or spurious claims/press releases - leading the stock's market value to plummet as soon as these promotional activities cease. Always remember that these promoters are front runners and already have received stock that they will be dumping on the unsuspecting investment community.
Internet Fraud: How to Avoid Internet Investment Scams: http://www.sec.gov/investor/pubs/cyberfraud.htm (Read before YOU LOSE ALL OF YOUR MONEY on "Pink Sheet" stocks that don't file earnings reports with the SEC.
Pump-and-Dumpers Face up to 10 Years in Jail after Stealing More than $20 Million (Sep, 14, 2007): http://investorshub.advfn.com/boards/read_msg.asp?message_id=22889376
Beware of the Penny Stock Hype: http://investorshub.advfn.com/boards/read_msg.asp?message_id=22799151
Internet Message Boards: Pump and Dump operations rely heavily on deceiving "suckers" on the stock message boards. The relationships of stock message board companies and Penny Stock "promotion" companies appears to be growing: http://investorshub.advfn.com/boards/read_msg.asp?message_id=22443933
Junk Faxes: Pump and Dump operations continue to use "junk faxes" even in the age of emails.
* http://www.junkfax.org/index.html (Junk Fax.org - Dedicated to Helping Stop Junk Faxes)
*The owner of this web site has sued several Pump and Dump operations for spamming his fax machine.
* http://www.junkfax.org/fax/profiles/wsp/wsp.htm (Largest Pump & Dump via Fax in US history)
Take Action - Forward Spam Emails & Faxes To The Authorities:
SEC Email: enforcement@sec.gov
Pinksheets.com Email: info@pinksheets.com; issuerservices@pinksheets.com
UCE Email: spam@uce.gov
FBI Web site: http://www.fbi.gov
DOJ Web site: http://www.usdoj.gov (Dept of Justice)
Canada Securities Administrators (CSA): http://www.csa-acvm.ca/html_CSA/invinfo_spam_emails.html
Check PinkSheets.com For Stock Ratings BEFORE You Decide Buy!!!: http://www.pinksheets.com/pink/otcguide/categories.jsp
Caveat Emptor: BUYER BEWARE. There is a public interest concern associated with the company, which may include a spam campaign, stock promotion or known investigation of fraudulent activity committed by the company or insiders. During a spam campaign, any stock that is not in the Current Information category will also have its quotes blocked on pinksheets.com.
"Watch Out For The Skull And Crossbones": http://www.washingtonpost.com/wp-dyn/content/article/2007/07/28/AR2007072800047.html
No Information: Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or Pink Sheets. Companies in this category do not make Current Information available via Pink Sheets News Service, or if they do, the available information is older than six months.
This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
Limited Information: Is designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to meet Pink Sheets' Guidelines for Providing Adequate Current Information.
Current Information: Indicates reporting companies that submit filings to regulators with powers of review and that make the filings publicly available or non-reporting companies that make current information publicly available on the Pink Sheets News Service. The Current Information category is based on the level of disclosure and is not a designation of quality or investment risk. This category includes shell or development stage companies with little or no operations as well as companies without audited financials and as such should be considered extremely speculative by investors.
OTCQX: Companies worthy of investor consideration that have operating businesses, audited financials and provide credible disclosure to the public can qualify for the OTCQX premium market tier. Designed to meet the particular needs of small to medium-sized U.S. public companies and foreign stock exchange-listed companies, OTCQX aims to raise the visibility among U.S. investors of OTC traded companies that have strong operating models and that provide high-quality disclosure to the marketplace. For more information on OTCQX, please see www.otcqx.com.
"The SPAM & SCAM Sniff Test"
In order for a stock to be listed on the Spam and Scam Stock Board, it must meet one of the following criteria:
1. Received an unsolicited Spam email or Fax in the last month.
2. Quotes blocked and the promotional activities warning up on the pinksheets Quote page.
3. Recent merger, revere split, and/or issued restricted shares in exchange for free trading shares.
4. Recent suspension from trading, in default or Revoked with their state of corporation.
Educational Resources to Learn about SPAM & SCAM Operations:
http://www.spamnation.info/stocks/index.php
http://www.investorshub.com/boards/board.asp?board_id=610
http://www.sec.gov/litigation/suspensions.shtml
http://searchwww.sec.gov/EDGARFSClient/jsp/EDGAR_MainAccess.jsp
http://www.sec.gov/edgar/searchedgar/webusers.htm
http://www.sec.gov/investor/pubs/microcapstock.htm
http://www.law.uc.edu/CCL/33Act/sec17.html
http://www.pinksheetstocksblog.com/
Spam Stock List: http://www.crummy.com/features/StockSpam/reports/?C=M;O=D
Penny Stocks Being Shorted: http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?cntry=usa&tag=United%20Stat....
Short Interest Links:
http://otcbb.com/asp/OTCE_Short_Interest.asp
http://www.pinksheets.com/marketactivity/reg_sho_list.jsp
Verifty The Company Is Still Incorporated:
COLORADO: http://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.do
DELEWARE: http://corp.delaware.gov (See Services - General Information)
FLORIDA: http://oss.dos.state.fl.us (See Corporations)
GEORGIA: http://www.sos.state.ga.us/corporations
ILLINOIS: http://www.ilsos.gov/corporatellc
MASSACHUSETTS: http://corp.sec.state.ma.us/corp/corpsearch/corpsearchinput.asp
NEVADA: http://www.sos.state.nv.us (Click on or scroll over Commercial Recordings then select Business Entity Search)
NEW YORK: http://appsext8.dos.state.ny.us/corp_public/corpsearch.entity_search_entry
OREGON: http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.login
UTAH: http://corporations.utah.gov (Scroll over or click on searches then select Business Entity)
WASHINGTON: http://www.secstate.wa.gov/corps/
WYOMING: http://soswy.state.wy.us/
Gagged Transfer Agents = TROUBLE - STAY AWAY:
Why? Companies that won't allow stock transfer agents to release outstanding share figures are probably selling tons of shares to pay their corporate salaries or wosre.
Select American Transfer Company (Closed - Allegedly Selling Counterfeit Shares)
118, Finch Avenue West, Suite 35
Toronto, Ontario M2N 7G2
Phone: 647.722.9581 Fax: 647.723.0366
First American Stock Transfer Company
706 E Bell Rd, Suite 202
Phoenix, AZ 85022-6642
Phone: 602.485.1346
Transfer Online, Inc
317 SW Alder Street, 2nd Floor
Portland, OR 97204
Phone: 503.227.2950 FAX: 503.227.6874
Integrity Stock Transfer
2920 N Green Valley Pkwy
Las Vegas, NV 89120
Phone: 702.317.7757
Very Informative Message Boards on Penny Stocks:
Dump The Pump: http://www.investorshub.com/boards/board.asp?board_id=9311
FAKE: http://www.atomicbobs.com/index.php?board=276
Market Scams: http://investorshub.advfn.com/boards/board.asp?board_id=610
Reverse Split Repeat Offenderss (RS/RO): http://investorshub.advfn.com/boards/board.asp?board_id=3017
iHub's Pump & Dump Hall of Fame: http://investorshub.advfn.com/boards/board.asp?board_id=9580
CEOs of Scam Companies: http://investorshub.advfn.com/boards/board.asp?board_id=9937
Scammy CEOs: http://investorshub.advfn.com/boards/board.asp?board_id=8927
BagHolders (SCAM): http://investorshub.advfn.com/boards/board.asp?board_id=2537
Disclaimer
This message board, and its moderators, are not associated with any publicly-traded companies, stock promotion companies or third-party relations to stock promotion companies.
All messages, including iBox content, are only the opinion of the poster, are no substitute for your own research, and should not be relied upon for trading or any other purpose.
Please review the Investors Hub Terms of Service (TOS) for message posting rules. Posting on internet message boards is not anonymous and you can be held liable for spreading false and misleading information about people and companies. Post at your own risk.
TOS Refresher: http://investorshub.advfn.com/boards/complex_terms.asp
For more information about investing, Internet fraud, and micro-cap stocks, please visit the following SEC web sites:
http://www.sec.gov/sitemap.shtml
http://www.sec.gov/investor/pubs/cyberfraud.htm
http://www.sec.gov/investor/pubs/microcapstock.htm
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