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Well, that explains why the fool is so comfortable with this fecalith. LOL! Thanks for the heads up.
That fool has been exposed as a newbie know-nothing and his own posts demonstrate this quite clearly. As for MSITF, yes it's a scam indeed, but there are so many. LOL!
You really are an fool, Chuck...
...DILUTION IS PERSISTENT. It impacts your purchase by making it nearly impossible for the price to move without significant volume.
As for 'proof', you should visit the CSJJ, CDVJ and BXTI boards at Raging Bull where I've been posting about Cortellazzi since he first appeared. I've 'proven' that most of his press releases were bogus in one way or another, but of course without subpoena powers, courtroom-grade 'proof' is beyond my reach.
The SEC knows what I post, and I'm not anonymous to them. Indeed, I have an open dialogue with attorneys in their enforcement division.
You seem to be quite ignorant of how things work in the real world, Chuck. If you could have sold at .0003 you should have taken it, but the reality is that you couldn't sell at that price--no marketmakers would take your action.
You have ignored the facts I posted proving that Cortellazzi diluted this fecalith from 18MM to over 3.7 BILLION shares in fifteen months. In that time he's issued a host of false and misleading press releases.
This is a classic scam, Chuck, and you are sailing on that big Egyptian river. LOL!
Who said anything about 'drug lords'? LOL!
Do you know the story of Crazy Eddie Antar? Not all money laundering is about drug money, and pink sheet stocks are a favorite method. Here's one of many, many articles on the topic--just one of the first I found with a quick googling of "money laundering penny stocks":
Penny stock is a launderer's delight
K YATISH RAJAWAT
TIMES NEWS NETWORK[ WEDNESDAY, OCTOBER 05, 2005 12:01:10 AM]
MUMBAI: The roaring market may have helped a lot of people convert unaccounted money into white. Even black money stashed abroad over the years is now able to get back into India thanks to a raging bull market .
Small-cap illiquid stocks, which had shot up to dizzying heights recently, may have helped Indian money launderers. These stocks are loosely referred to as penny stocks .
The modus operandi of money laundering involves identifying a stock that has little liquidity, one which does not have any institutional investors backing it and preferably quotes below par value. The promoter should be holding the maximum chunk of equity in the counter and it is important to involve him in the deal.
The next step is to buy from the market, through legitimate funds, a large amount of stock either from the promoter or other holders of equity. After the money launderer has picked up enough stock he can then, along with some brokers and with the promoter's approval and collusion, start rigging up the price.
The price is jacked up through circular trading, in which the money launderer can either be involved directly or can adopt a much more sophisticated means.
Among the favoured methods are to start showing signs of business activity in the company which till now was lying dormant. This could be done through announcement of new directors, new investment plans, including raising FCCB or a GDR.
Once market traders see signs of improvement in a stock price they also start accumulating it hoping it will be the next superstar. This is where the vicious cycle begins with the retail investor also getting on to the bandwagon.
As the stock price rises the value of the money launderer's portfolio goes up. The scheme is much more attractive for turning black money into white as the capital market adds its own leverage.
If the money launderer has a Rs 1 crore portfolio and assuming that continuous circular trading -- which, basically, keeps volume alive in the counter and keeps the price ticker moving -- involves another Rs 1 crore of investment from him.
Now by investing Rs 2 crore in this scheme he is able to take the price up ten or twenty times, which is possible in a bullish market. He is now able to raise the value of his portfolio to Rs 10 crore or Rs 20 crore. On which he may pay short-term tax and use it in any legitimate business he wants.
The buying entity in this case could be market players or retail investors, but as soon as the money launderer or rigger exits, the price crashes. Even if the trade is done through another entity owned by the money launderer abroad he is able to transfer funds through the market to a local entity.
Another cross border money laundering operation possible here is that the buyer could be a sub-account of an FII opened by the money launderer. Once an FII buys into such a penny stock then the valuation goes even higher as most market participants see it as a sign that maybe the company actually has great prospects.
http://economictimes.indiatimes.com/articleshow/msid-1252533,curpg-3.cms
You're sense of logic seems impaired. The SEC moves at its own pace, and they don't share information about their investigative activities. To imply legitimacy because I've submitted complaints and no enforcement has occurred to date is simply toutish folly.
Has the deal with the Brittons been consummated? Have permits been issued for drilling?
You can't 'validate' my allegations? Why not? Can't you find out the o/s when the price was .75 for a few minutes in March 2004? Can't you find out the o/s now? If not, consider why not?
Here is irrefutable validation for you Chuck.
From the company's website, this analyst report shows an o/s of 3,741,275,064 in August 2005:
http://www.coastalholdings.com/analysis.htm
In May 2004, the same analyst wrote this report--also posted on the company's website:
http://www.coastalholdings.com/report/
The earlier report shows 18MM outstanding shares. From 18MM to 3741MM in 15 months! I'll do the math for you--that's a dilution of 20,000%.
Are you so incredibly ignorant that you think the .75 price is relevant now considering that Cortellazzi has issued billions of shares since? Do you understand that dilution is persistent? This is a scam, Chuck.
I've never owned any of Cortellazzi's trash, but I've been following him closely and filing reports with the SEC. I hate frauds, and this one is intensely obvious.
You seem quite naive. Would you like a lesson in how penny stocks are used for money laundering?
What a toutish comparison!
Coastal was .75 when it had less than 20MM shares outstanding, and it has declined in price ever since. What is the OS now? How many billions of shares?
You still don't get it. I'm convinced that this stock is a money laundering operation for Cortellazzi. I doubt that the oil deal will happen, because it would trigger increased scrutiny; and that is exactly what Cortellazzi doesn't want. All he needs is periodic volume to wash shares and dollars from account to account. The price doesn't matter.
Have you looked into the claims, Chuck? The Brittons have been trying to (ahem) pump those old wells for years as investments. Have you seen their ads? You can see the same ads running in previous years by using the Wayback Machine. Here's the 2002 version:
http://mywebpage.netscape.com/donbrttn/index.html" target="_blank">http://web.archive.org/web/20020213050714/http://mywebpage.netscape.com/donbrttn/index.html
How many have bought into it? Has any money changed hands between Cortellazzi and the Brittons? Even the last PR is written in the future tense. When was that well pushing 650 bopd? 1940? Can you identify it? Have you located the Hines tract? Has a permit been issued for drilling?
Cortellazzi has a long history of fraud and false press releases, Chuck. He's adapted his con to whatever is hot--right now it's oil. He's done this before with claims about buying oil 'fields'. This is a guy who scammed parents of preschoolers with a bogus Montessori school scam.
Whatever happened to Vetdermal, eh? The company was incorporated in the UK just for the pumpadump and it's now defaulted. Speaking of defaulted, have you looked at CSJJ's Nevada incorporation?
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?CorpID=424542
BOHICA!!!
That's never stopped Cortellazzi in the past.
I think it is illegal to lie to people.
Do you know his history of fraud, and the long list of false and misleading press releases issued for this company and it's former parent PAVP/CDVJ?
If not, why not?
Notice that the release doesn't say that any money changed hands, or that the deal has been consummated. Cortellazzi's a master of deception, and you have to read closely.
Poor Willy probably needs his own oops board. Here's a recent sampling.
By: WillyWizardClub
frog that is such old news it's getting halaious when you bashers post it...try something new for once.
LOL yes it's iminet :)
Moby Dick, The Pilot and the Pod have won big. Captain Ahab has been forced to a truce so all baby whales can circle a blow their sirens in jubilation.
we are entering the last days so hang on to your jock strap.
all messagwe board tash writters are Message Board Terrorist or you are idiots trashing a stock you have no connection to.
Why are Message Board Terrorist are everywhere tonight? They lost...ity's iminet.
You owe me nothing, gabe. I don't keep those kind of accounts. LOL! I'm content if you stay sober and work on becoming honest...especially with yourself.
Speaking of context, let's see if you can acknowledge your past posting as the drug-induced ravings they truly were. Here's one of your last posts as TPK before Matt gave you the boot.
http://www.investorshub.com/boards/read_msg.asp?message_id=3356781
No more nonsense, gabe. You're addicted to these message boards, you know; but a few brief emails and you're outta here and RB too.
I beg to differ; and just like there are no ex-alcoholics, there are no ex-addicts. If you don't know that, then you're not 'ex' at all--even if you've not inhaled, injected or otherwise ingested psychoactive substances.
Your old website is completely relevant, gabe, as it shows the depth of your madness and the extent of your fantasy. It provides the context in which the pk press releases were viewed at the time as some fools embraced your fiction as reality.
I'll dig out the releases and we can (ahem) trip down memory lane.
CSJJ is an outrageous scam. Do you know anything about the CEO? Do you know about his fraud busts? Why do you think nearly a quarter-billion shares traded today without any price movement? Can you say 'money laundering'?
BOHICA!!
Yes, I have most if not all of the F&CPC releases, as well as most of your old website archived. No, I don't know where any of the old Directors are presently. Do you?
Here's a CMKX acolyte who got excited and...
By: bigdaddy32tn
15 Oct 2005, 02:55 PM EDT
Msg. 1161172 of 1162673
I excited and had an organism too! I named it donny my little squirt! LOL eom
LOL! Are you saying that the denizens of RB are less literate than the intelligentsia here at IHUB? If RB bloopers are not prohibited here, this one is noteworthy:
By: mobcom
12 Oct 2005, 10:59 AM EDT
Msg. 56528 of 56533
RSWahn: What's going to be interesting
is how these natual Disastors play out. They had a pole today on CNBC to see if Katrina would be infaltionary or a bust to the economy.
LOL! You got off easy, gabe. Next time--perhaps for your Telynx fraud--they'll throw the book at you.
From your letter to the court dated September 1:
I am working toward saving up money to file Chapter 7 Bankruptcy, file for divorce, purchase a better running vehicle, and find a better place to live. The place where I currently sleep in Topanga has no water, air conditioning or sewage system, but it has electricity, a floor to sleep on, and it is "free".
I have maintained my sobriety for the past 11 1/2 months despite the hardship and longsuffering, and I look forward to the day when this debt, obtained by default because I could not afford to defend myself due to a mental disease from which I am still recovering, can be fully resolved.
The Penny King is broke and crazy--just as we thought all along.
Illiterati of the day...
By: barathrum47
06 Oct 2005, 12:38 PM EDT
Msg. 73091 of 73091
BASHTIRDS IS LYERING IS BILLION SHARE SHORT IN JAGS SHARINGS AND HUGH SQUEEZING COMING FOR BASHERS!!!
serf- Have you been deleting EVEN's posts to me? I've been peeking in here occasionally in eager anticipation of his 'rabbit-hole' tour, but alas I see a series of missing post numbers.
If you have been censoring our dialogue, please restore the missing posts. I haven't been following closely, but I can tell from the tone of recent posts that this one is way past such games. It's time to let go and allow the truth to be told.
The muck at the bottom of the market is composed of numerous companies who have pulled similar stunts. Unfortunately, enforcement being what it is, many of the perps themselves have got away with it.
I do recall a cameo appearance on the RB board last winter--but the posts were lost by the Raging Kluge.
E- I'm obviously late to this mad party, but I'm always amazed at how greed tends to blind otherwise intelligent investors to the reality of an obvious scam. As was demonstrated clearly in the Sukumo affair, a group of dedicated shareholder-victims of a fraud CAN be instrumental in bringing about some justice.
If I can help, I will. Now where exactly is this rabbit hole? LOL!
Also... Lone Star Information Service at that address:
http://www.lsiservices.net/contact.html
Here's the leasing info and a picture of the building:
http://www.tstacy.com/leasing.php?location_id=1&building_id=21
Correct me if I'm wrong gabe, but the SEC did win its case against you, right? And you did serve time in a S. California jail recently, no?
So all the minions of 'volunteers' you claimed to have in the 'Foundations' were just your fantasy? Or is your entire existence a hallucination?
Did they really think they could all get away with it?
Of course they did. So did you, until you were caught.
You've always been good at weaving reality with your fantasies, g! I've little doubt that this company is a scam. After all, the principals were your 'disciples' before they turned on you. Well, turnabout is fair play; so when you're finished helping to expose the fraud you tried and failed at perpetrating on investors, we can deport you too.
tpk (you) SHOULD be deported, and Matatas too. LOL!
Indeed, Matatas and his cronies wouldn't have been involved with Telynx at all if you hadn't run your scam. Mataras followed you here, remember?
Man pays in pennies; judge gets even
UPI Aug. 2, 2005 at 7:19PM
A man who tried to get even by paying a traffic ticket with $120 in pennies got upstaged by a North Dakota judge who made him stay until they were counted.
Robert John Zukowski brought a garbage can full of about 12,000 pennies to Clay County District Court to pay his fine for speeding, the Fargo Forum reported. Court Administrator Jan Crossette lugged the bucket of change to a bank, which used a machine to count the money and gave her $120 in bills.
Zukowski got a few pennies back in overpayment.
Judge John Pearson told the newspaper he thought Zukowski's anger was misdirected. "If the person is mad at the cop, why take it out on court administration?" Pearson asked. "They're punishing the wrong people."
http://www.washtimes.com/upi/20050802-070333-6707r.htm
A friend of yours, g?
By all means, please do file a complaint with the SEC.
http://sec.gov/complaint.shtml
The more the merrier as the Commission operates on the 'squeaky wheel' theory.
Stop playing games, g! You're part of the problem--a fraud in your own right.
"Let's see"???
Cortellazzi hasn't done anything he's promised, so why should this be any different. I remain convinced that CSJJ is but a vehicle for money laundering--Canadian dollars, Euros and Israeli shekels. Nothing cleans cash better than swapping shares around from account to account. LOL!
ROTFL!!! Cortellazzi doesn't seem to realize that the rules have changed. He can't just reverse merge CSJJ into a reporting shell anymore without filing the equivalent of a registration statement such as an SB-2. Here's chapter and verse on the rule changes:
http://www.sec.gov/rules/final/33-8587.pdf
It really is a moot point anyway. He's made this lame promise about OTCBB before, and it's more than likely just another empty pump so he can dump more shares.
Think again, fatty. Botaniex is a complete and utter scam.
International Huge Frauds Hit China ex-Soviet Bloc
Canada Businessman Cited In Schemes Involving Billions In Bank Credit
By Robert Steiner, staff reporter of The Wall Street Journal
HONG KONG - A portly foreigner turned up at a bank branch in Nanning southern China last year and made a startling offer. He would lend the bank 11-Billion in return for a simple IOU.
Liu Minshan, President of GUANGXI TRUST & INVESTMENT CORPORATION accepted the offer. In China's breakneck economic acceleration, an opportunity to lay hands on foreign currency was too good to pass up, even if his company wasn't supposed to borrow from abroad. He issued a massive Promissory Note but the loan never arrived and Mr. Liu resigned last month.
HALFWAY AROUND THE WORLD MORE THAN 15,000 POLISH POTATO FARMERS ARE STUCK WITH THE NOTE MR. LIU ISSUED. THEIR AGENTS ACCEPTED IT AS PAYMENT FOR MOST OF THEIR 1991 POTATO CROP ONLY TO FIND OUT THE NOTE WAS WORTHLESS.
BEHIND BOTH DEALS, SAY BUSINESSMEN IN CHINA AND POLAND IS A 45- YEAR OLD CANADIAN BUSINESSMAN AND FORMER SMALL TOWN PREACHER, ROBERT EARL PALM. THEY AND SOME OF THE PEOPLE HE DID BUSINESS WITH SAY MR. PALM IS A REMARKABLE PIONEER IN ONE OF THE HOTTEST TRADES TO TOUCH THE FAST EMERGING MARKETS OF THE FORMER SOVIET BLOC AND CHINA. FRAUD.
IN THE CHAOS OF ECONOMIC REFORMS SWEEPING THE COMMUNIST AND EX-COMMUNIST WORLD, OPPORTUNITY FOR FRAUD ABOUNDS. "WESTERN DEMOCRACY HAS COST ME MY LIVELIHOOD," A POLISH POTATO FARMER COMPLAINED TO A CANADIAN TELEVISION CREW IN FEBRUARY.
OTHERS PUT THE BLAME ON MR PALM WHO IS THE TARGET OF AT LEAST THREE [3] LAWSUITS IN THE U.S. AND CANADA. MR PALM'S ACTIVITIES ALSO HAVE COME UNDER THE SCRUTINY OF THE U.S. FEDERAL BUREAU OF INVESTIGATION.
THROUGH HIS LAWYERS AT ASHTON & LYON, A BRITISH COLUMBIA FIRM, MR PALM REFUSED TO COMMENT FOR THIS ARTICLE.
LAST MONTH IN WHAT APPEARS TO BE ONE OF THE LARGEST FRAUDS IN CHINA, SINCE THE COUNTRY LAUNCHED ITS ECONOMIC REFORM PROGRAM IN 1979, THE COUNTRY'S PUBLIC SECURITY BUREAU DISCLOSED THAT IT HAD ARRESTED TWO [2] AMERICAN'S, FRANCISCO HUNG MOY AND RAYMOND LEE. THEY ARE SUSPECTED OF PERSUADING OFFICIALS OF A RURAL BRANCH OF AGRICULTURAL BANK OF CHINA TO WRITE 10-BILLION IN FRAUDULENT STANDBY LETTERS OF CREDIT [SBLC]. THE COLLATERAL WAS ANOTHER LETTER OF CREDIT [LOC] ISSUED BY UNITED NATIONAL REPUBLIC BANK OF RUSSIA, A BANK THAT OFFICIALS IN MOSCOW SAY, "DOESN'T EXIST IN RUSSIA".
AGRICULTURAL BANK SAYS THE MEN IDENTIFIED THEMSELVES AS WORKING FOR MR. PALM. BY THE TIME MESSRS HUNG MOY AND LEE WERE ARRESTED, THOUGH THE LETTERS OF CREDIT WERE IN CIRCULATION, SCOTLAND YARD UNCOVERED 22 OF THE CHINESE ISSUED LETTERS WITH A SUPPOSED TOTAL VALUE OF 1-BILLION. SUGGESTING THAT THE REST OF THE 9-BILLION IN WORTHLESS PAPER ARE FLOATING THROUGH THE WORLD'S FINANCIAL SYSTEM, CHINA HAS ISSUED AN INTERNATIONAL WARNING TO BANKERS AGAINST HONORING THE NOTES.
MR. PALM, BALDING WITH A FRINGE OF GRAY HAIR, DOES BUSINESS FROM AN OFFICE IN AN INDUSTRIAL AREA OF THE BRITISH COLUMBIA CAPITAL OF VICTORIA ON CANADA'S PACIFIC COAST. PEOPLE WHO HAVE MET HIM SAY HE SPEAKS INTENSELY ABOUT WHAT HE CALLS THE RELIGIOUS NATURE OF HIS WORK. INDEED HE USED TO BE A PENTECOSTAL MINISTER.
HIS FORMER PARTNERS, IN EASTERN EUROPE, SPEAK SOMEWHAT LESS INSPIRATIONALLY ABOUT THEIR BUSINESS WITH HIM. AMONG THEM IS A UKRAINIAN TRUST COMPANY BATKIVSCHINA, WHICH CLAIMS IN A LAWSUIT FILED IN A U.S. DISTRICT COURT IN CALIFORNIA, THAT MR. PALM AND TWO [2] OTHER MEN OWE IT $311-MILLION, IN PAYMENT FOR RUSSIAN CURRENCY, THE THREE [3] MEN BOUGHT. A FINNISH COMPANY IS SUING MR. PALM AND OTHERS IN THE SUPREME COURT OF BRITISH COLUMBIA IN VANCOUVER OVER ANOTHER CURRENCY TRADE.
THE OWNERS OF MOSCOW'S PARKLAGUNA HOTEL CLAIM THAT MR PALM'S COMPANY OWES $130,000 FOR KEEPING AN OFFICE IN THEIR HOTEL BETWEEN AUGUST AND DECEMBER 1992. "ONLY PROMISES WE HAVE," SAYS SVETLANA LEPESHKOVA FRONT OFFICE MANAGER AT THE HOTEL. "PROMISES, PROMISES PROMISES. THAT IS ALL. WE TRUSTED THEM BECAUSE AT FIRST THEY PAID."
INDEED SOME OF HIS FORMER BUSINESS CONTACTS AND THEIR LAWYERS SAY THAT MR. PALM, IN DEALING WITH EACH OF THEM, PUT UP MONEY OR COLLATERAL TO ESTABLISH TRUST, THEN GOT CAPITAL ADVANCES FROM THEM. APPROPRIATELY, MR PALM'S VICTORIA BASED COMPANY IS NAMED, ADVANCE CAPITAL SERVICES CORP.
A 1992 PROFILE BY DUN & BRADSTREET CORP. - BASED IN PART ON INFORMATION FROM ADVANCE CAPITAL - DESCRIBES THE COMPANY'S PRINCIPAL BUSINESS TERRITORY AS INTERNATIONAL, ADDING THAT IT HAS 200 EMPLOYEES 20 BRANCHES AND 25 SUBSIDIARIES. HALF THE COMPANY'S ANNUAL REVENUE OF 18-MILLION, IS LISTED AS COMING FROM FOOD WHOLESALING AND 40 [-MILLION] FROM LUMBER BROKERING AND METAL MINING AND EXPLORATION. MR PALM HAS BEEN WITH THE COMPANY - OF WHICH HE OWNS 25 - SINCE IT INCORPORATED IN 1985, SAYS DUN & BRADSTREET, AND IS ITS ONLY DIRECTOR.
MR. PALM FIRST CHECKED INTO MOSCOW'S PARKLAGUNA HOTEL IN AUGUST 1991. AS RUSSIA WAS REELING FROM THE COLLAPSE OF MIKHAIL GORBACHEV'S GOVERNMENT, THE SUDDEN END TO CENTRAL PLANNING LEFT RUSSIAN CONSUMERS SCRAMBLING FOR FOOD AND NEW RUSSIAN BUSINESSES SCRAMBLING FOR HARD CURRENCY. UNDER SUCH
CIRCUMSTANCES, A SEEMINGLY WEALTHY WELL-CONNECTED WESTERN BUSINESSMAN MIGHT EASILY FIND EAGER RUSSIAN PARTNERS.
IN DEALING WITH THE UKRAINIAN TRUST (BATKIVSCHINA) MR. PALM SHOWED OFF LETTERS OF REFERENCE, PURPORTEDLY FROM SENIOR RUSSIAN GOVERNMENT OFFICIALS, SAYS BATKIVSCHINA'S LAWYER PHILIP KAUFLER. MR. PALM ALSO BOASTED OF HIS COMPANY'S TIES TO UNITED NATIONAL REPUBLIC BANK OF RUSSIA OR UNRB.
BUT NO SUCH BANK EXISTS IN RUSSIA, SAYS THE COUNTRY'S CENTRAL BANK. UNRB FINANCIAL STATEMENTS RECEIVED BY HODIMPEX LTD. - A POLISH CONCERN - ARE SIGNED AS AUDITED BY MCIVOR & ASSOCIATES; THE VICTORIA ACCOUNTING FIRM THAT AUDITS ADVANCE CAPITAL. BUT CANADA'S OFFICE OF THE SUPERVISOR OF FINANCIAL INSTUTITIONS SAYS, THE BANK ISN'T AUTHORIZED TO CONDUCT ANY BUSINESS FROM CANADA. A BALANCE SHEET ISSUED BY THE BANK SEEMS ABSURDLY LARGE GIVEN UNRB'S OBSCURITY. ITS $18895-BILLION IN CLAIMED ASSETS AS OF NOV 1, 1991 WOULD PLACE IT AMONG THE WORLD'S 30 BIGGEST BANKS.
A FINNISH COMPANY ENGINEERING OFFICE, BERTEL ECKENGREN LTD. ALLEGES IN ITS LAWSUIT THAT IT CONTRACTED WITH MR. PALM, ADVANCE CAPITAL, AND UNRB TO BUY 430-MILLION RUBLES IN EXCHANGE FOR 249-MILLION IN MAY 1992. BUT, ECKENGREN SAYS, IT RECEIVED ONLY 71-MILLION RUBLES.
SIMILARLY, BATKIVSCHINA CLAIMS - IN ITS LAWSUIT - THAT IT AGREED WITH MR. PALM TO SELL 724-BILLION RUBLES TO A LICHTENSTEIN COMPANY, CARTESA FINANCE CORP., FOR 311-MILLION IN DECEMBER 1991. WHEN THE DOLLARS HADN'T ARRIVED AT BATKIVSCHINA'S BANK BY MID1992, THE UKRAINIAN COMPANY SAYS MR. PALM OFFERED IT 35-MILLION OF STOCK IN CARTESA, A COMPANY THE UKRAINIANS SAY WAS
ALREADY IN LIQUIDATION. BATKIVSCHINA IS SUING CARTESA, ADVANCE CAPITAL, AND AN INDIANA COMPANY FOR 109-MILLION UNDER U.S. PROVISIONS ALLOWING TRIPLE DAMAGES IN SUITS THAT PROVE ELEMENTS OF RACKETEERING.
BUT THE SCOPE OF THESE DEALINGS PALES IN COMPARISON TO ACTIVITIES LINKED TO MR. PALM IN CHINA SHORTLY AFTER HIS MEETING AT GUANGXI TRUST IN APRIL 1992. ADVANCED CAPITAL APPARENTLY TURNED TO AGRICULTURAL BANK OF CHINA, ONE OF CHINA'S FOUR [4] NATIONAL BANKS, WHICH HAS A BRANCH IN HENGSHUI, A TOWN SOUTHWEST OF BEIJING, LIKE GUANGXI TRUST. AGRICULTURAL BANK'S HENGSHUI BRANCH ISN'T ALLOWED TO CONDUCT INTERNATIONAL BUSINESS, BUT THE BANK SAYS ITS HENGSHUI BRANCH MANAGER WAS OFFERED BY MESSERS HUNG MOY AND LEE A 10-BILLION STANDBY LETTER OF CREDIT [SBLC] FROM UNITED NATIONAL REPUBLIC BANK OF RUSSIA IN EARLY 1993.
IN RETURN MESSRS HUNG MOY AND LEE ASKED THE BRANCH TO WRITE 200 SMALLER STANDBY LETTERS OF CREDIT [SBLC] WITH FACE VALUES TOTALING 10-BILLION. THE LETTERS WERE WRITTEN AND SIGNED, APRIL 1. ALL THE LETTERS OF CREDIT [LOC] WERE LABELED AS BEING BACKED BY, UNITED ASIA GROUP, A NEW YORK REGISTERED COMPANY OF WHICH MR HUNG MOY IS PRESIDENT. ACCORDING TO AGRICULTURAL BANK IN MAY, AGRICULTURAL BANK WARNED BANKS WORLDWIDE NOT TO ACCEPT STANDBY LETTERS OF CREDIT [SBLC] FROM ITS HENGSHUI BRANCH. A MONTH EARLIER, IT HAD WARNED THEM NOT TO ACCEPT A STANDBY LETTER OF CREDIT [SBLC] FROM ITS BRANCH IN SANYA, ON THE ISLAND OF HAINAN. THE SANYA LETTER OF CREDIT [LOC] WAS VALUED AT 80-MILLION WITH A VALIDITY OF 20-YEARS. IT LISTED NO BENEFICIARY.
BUT HODIMPEX, A BUDDING FIRM OF POLISH FOOD BROKERS, GOT THE WARNING TOO LATE. IT HAD STRUCK A DEAL IN FEBRUARY AND MARCH 1992 TO SELL ADVANCE CAPITAL 316-MILLION OF POTATOES AND OTHER FOOD FOR DISTRIBUTION AS HUMANITARIAN AID IN THE FORMER SOVIET UNION. "THIS WAS THE FIRST CASE FOR OUR COMPANY TO BE INVOLVED IN SUCH BIG BUSINESS," SAYS ANDRZEJ JANICKI, SENIOR ADVISER TO HODIMPEX'S MANAGEMENT. BECAUSE HODIMPEX HAD NEVER HEARD OF ADVANCE CAPITAL, IT ASKED DUN & BRADSTREET TO INVESTIGATE ITS CORPORATE AND PAYMENT HISTORY. A COPY OF THE DUN & BRADSTREET REPORT RECEIVED BY HODIMPEX INDICATED ADVANCE CAPITAL'S PAYMENTS TENDED TO BE SLOW BY ONLY 11-DAYS.
SO BETWEEN MARCH 30 AND MAY 18 HODIMPEX SENT 373-MILLION OF FOOD TO THE FORMER SOVIET UNION, MAINLY TO BASES OF DEMOBILIZED SOVIET SOLDIERS. IT THEN STOPPED THE SHIPMENTS BECAUSE ADVANCE CAPITAL HAD STILL PAID NOTHING ON JUNE 8. ADVANCE CAPITAL TOLD HODIMPEX IT COULD DRAW 125-MILLION FROM THE GUANGXI TRUST PROMISSORY NOTE. IT WAS LATER HANDED THE STANDBY LETTER OF CREDIT [SBLC] FROM THE SANYA BRANCH OF THE AGRICULTURAL BANK. THE FOOD BROKER LATER DISCOVERED THAT BOTH DOCUMENTS ARE WORTHLESS.
JULIA LEUNG CONTRIBUTED TO THIS ARTICLE.
http://www.isip.msstate.edu/publications/courses/ece_8463/projects/1998_spring/data/lm_training/wsj9....
Press release from: Advanced Capital Services Corporation
10/31/2002
$30 Billion Venture Fund Forming for Alternative Energy
Advanced Capital Services Leads Capital Pool Formation for Fuel Cell Industry
(CSRwire) Maryland - The US market for fuel cells is projected to expand four-fold through 2006 to $3.3 billion. The electric power generation, remote supply, grid support, cogeneration market is projected to commercialize first, followed by portable power, cellphones, handheld computers, camcorders, digicams, and other advancing technologies.
Fuel cell automobiles may not emerge until after 2011 according to some industry experts, but this may rapidly change as one firm has established a project to cut this development time in half.
Advanced Capital Services has announced that it is interested in accelerating the expansion of this burgeoning global industry by providing the means for capital creation to deliver this technology to an estimated $1.6 trillion annual global market.
To that end the firm has launched its campaign to connect industry leaders interested in consolidating their firms by investing initially in minority stakes of various companies that are involved in this industry and further providing them with capital to commercialize these technologies as alternatives to continued global dependence on fossil fuels.
"We are interested in acquiring between 10 and 49% equity stakes in any company that produces stacks and systems, fuels, fuel cell electronics, stack components, fuel reformers and processors, hydrogen storage devices, fuel cell services, power generation equipment, automotive, mass transit, trucking, aircraft, portable electronics, military/aerospace, motive power, backup power, and related technological advancements in this industry", said Gene Rineer, Vice President of Mergers and Acquisitions.
"We have identified 34 key participants in this industry including Avista, Ballard Power Systems, DuPont, FuelCell Energy, General Electric, H Power, Honeywell International, Plug Power, Siemens, and United Technologies who we are approaching to participate in a multi billion venture pool to rapidly accelerate fuel cell technology," said Special Agent for Relationship Development, Medgar L. Reid in Maryland.
"Some of these firms may not be in a position to accelerate the advancement of this industry with us due to current market conditions, however, we would welcome their continued participation and would consider them as potential partners in our capital formation strategy for the entire industry," added Reid.
"In order to accelerate this rapidly advancing industry, we are advising industry leaders and high ranking international government officials on the formation of a capital pool of $30 billion for direct foreign investment in the United States through a network of international banks, private and institutional foreign investors which will streamline, consolidate, expand and commercialize this industry toward its $1.6 trillion annual potential, thereby cutting in half the time to bring this technology to market," said Reid.
So far the firm has recieved responses from two firms to which proposals have been sent to provide up to $400 million in capital for global expansion and commercialization of their products.
One such firm Powerzinc Electric, Inc. is a California based company dedicated to the research, development and manufacturing of a new, advanced environmentally-friendly zinc-air fuel cell and zinc-air battery. Their key product - DQFC series zinc-air fuel cells are a high performance fuel cell that is specifically designed for electric vehicle applications. It is currently capable of powering an electric scooter for over 130 miles with a short, mechanical refuel time of less than 5 minutes. Powerzinc's proprietary zinc-air fuel cell technology is also suitable for applications in consumer electronics, back-up power sources, telecommunications,medical devices, pleasure boats, and other transportation systems.
For more information please contact:
Gene Rineer
Advanced Capital Services Corporation
jadechip@hotmail.com
(410) 258-5282
Medgar L. Reid
Advanced Capital Services Corporation
MLReidChamp@aol.com
(410) 258-5282
http://www.csrwire.com/article.cgi/1373.html
The bottom line, gabe, is that you conned Reid into believing all your rot about the Free and Clear Foundations, etc. He was taken in by your amazingly outrageous lies. That makes him stupid, just like the clowns who are currently running the Telynx lemonade stand. You're obviously rationalizing--unable to accept responsibility for the fraud.
When you own up to the reality that you aren't the genius you purport to be; and realize that you're just a petty con-man and bad poet; then and only then can you begin a lasting recovery from the fog of madness and addiction.
ROTFL! Well, investigative reporters anyway.
Seems like the only honest people left in this world are investigative reporters and their lawyers.
It was your release, gabe, not Reid's.
For more information, contact: Sandra Leigh Gabor, Executive Director, Free and Clear Foundations of America, Inc., via email only at sandara@thepennyking.com.
Nice try. LOL!
I suspect that the bogus Directors are less concerned with the paper losses on (illegally issued?) stock that they received for the use of their names during your brief tenure in 'control' of the Telynx share press than they are relieved that so far they haven't been listed as co-conspirators in a RICO action.
I don't think you need anyone's testimony to prove that you're not a billionaire. You already submitted a financial statement to the court which has deemed you to be 'indigent'. So unless you've committed perjury as well as contempt, it's already been established that you're (can't resist...gotta do it) PENNILESS.
Your memory is more than a bit off, but no matter. (Serious drug abuse has that effect, and I'm glad to see that the court is insisting that you stay off 'em.) DueDillinger is a carefully crafted personna--a mask I wear on stock message boards that has evolved for years into the haughty, relentless scambuster that touts love to hate. This medium is as addictive as any narcotic, and someday I'll quit 'cold turkey'.
I do believe it would be useful for you to enumerate Telynx's 'major hidden liabilities' for the participants in this forum--quickly before Matt fries you again. I've little doubt that it's going to 'all blow up in their faces', and I think the form it will initially take is a deregistration under 12(j) for failure to file periodic reports. This seems to be the SEC's latest mechanism for shutting down obvious scams. Proving fraud is much more difficult than proving non-compliance.
In a similarly expedient vein, I doubt that Judge Reed will want to see too much tapdancing on the 26th; and I expect that your Alaskan attorney will advise you to shut up so he can try to get you out of the mess you've made of your case. Since you're broke, I think the SEC should settle for deporting you back to Canada; or in the alternative, a lifetime bar from internet message boards.