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A serious question
Can someone tell me if you are not part of the PDR BS but still hold certs what right do you have to be part of any class action
You are right a lot have called it a long time ago but this from fox nothing to do with this scam but does show that the G will hit hard.
NEW YORK — A former Nasdaq stock market chairman was arrested on a securities fraud charge Thursday, accused of running a fraudulent investment business that lost at least $50 billion before he confessed to senior employees it was a "giant Ponzi scheme," authorities said.
Bernard L. Madoff, his silver hair reflecting the lights of a federal courtroom, was released on $10 million bail secured by his signature and that of his wife. He declined to comment as he walked out of U.S. District Court in Manhattan.
Madoff, 70, the founder of Bernard L. Madoff Investment Securities LLC, maintained a separate and secretive investment-advising business that served between 11 and 25 clients and had a total of about $17.1 billion in assets under management, prosecutors said.
Late Thursday, the Securities and Exchange Commission announced a civil securities fraud charge against Madoff and said it was seeking emergency relief for investors, including an asset freeze and the appointment of a receiver for the firm.
Andrew M. Calamari, associate director of enforcement in the SEC's New York office, said the SEC was alleging "a stunning fraud that appears to be of epic proportions."
A criminal complaint signed by FBI Agent Theodore Cacioppi said Madoff told at least three senior employees at his Manhattan apartment Wednesday that the investment adviser business was a fraud and had been insolvent for years, losing at least $50 billion.
Madoff told the employees he was "finished," that he had "absolutely nothing," that "it's all just one big lie" and it was "basically, a giant Ponzi scheme," according to the complaint filed in court.
The employees understood Madoff's admission to mean that "he had for years been paying returns to certain investors out of the principal received from other, different, investors," said the complaint, which did not identify the investors impacted by the scheme.
Cacioppi said one of the employees told him that Madoff was "cryptic" about the firm's investment advisory business and kept its financial statements locked up. The FBI agent said another employee told him that Madoff last week had said clients had asked for about $7 billion in redemptions and he was struggling to meet those obligations but thought he could do so.
Cacioppi said two senior Madoff employees told him that Madoff said during the Wednesday meeting that he planned to surrender to authorities in a week but first wanted to distribute $200 million to $300 million he had left to certain selected employees, family and friends.
Cacioppi said he and another FBI agent arrived Thursday at Madoff's apartment, where Madoff invited them in and acknowledged knowing why they were there.
"After I stated, `We're here to find out if there's an innocent explanation,' Madoff stated, `There is no innocent explanation,"' the agent wrote.
"Madoff stated, in substance, that he had personally traded and lost money for institutional clients, and that it was all his fault," Cacioppi said.
The agent wrote that Madoff said he had "paid investors with money that wasn't there" and that he was broke and insolvent and had decided that "it could not go on" and that he expected to go to jail.
Defense lawyer Dan Horwitz called Madoff "a person of integrity" and said he intends to fight the charge.
If convicted, Madoff could face up to 20 years in prison and a maximum fine of $5 million.
Bernard L. Madoff Investment Securities LLC ranks among the top 1 percent of U.S. securities firms, according to the company's Web site.
In 2001, Barron's reported that Madoff's firm was one of the three top market makers in Nasdaq stocks and the third-largest firm matching buyers and sellers of securities on the New York Stock Exchange.
Shortly after leaving law school, Madoff founded his firm in 1960. It was one of five broker-dealers most closely involved in developing the Nasdaq Stock Market, where he served as a member of the board of governors in the 1980s and as chairman of the board of directors.
Prosecutors noted in a release that the company Web site boasts: "Clients know that Bernard Madoff has a personal interest in maintaining an unblemished record of value, fair-dealing and high ethical standards that has always been the firm's hallmark."
Of course he is gone. He is not afriad of some one knocking on his door and taken him away in cuffs like Teressa and MT should be. But he knows there is nothing else to say his scam fell apart and I called it.
I will call it again the wb site will be gone by the end of the year. And I hope this is haulted soon. Not that it matters there is no volume so that means no one is buying it anyway.
I am shocked this was not haulted yet. Still no responce from the Banna picker
that is what i have been saying he should do that and if his part is real he should be contacting the SEC on his own
I do not think anyone who converted will get there certs maybe some might get back some but IMO I think all those who converted lost them.
But just remember for all those who lost this investment and there certs those of us with certs have lost the investment and we have paper that will remind us of the loss so who is better of I have no clue
And if anyone can explain what the diffrence is between having certs to PDRs or both.
Please feel free. Because I have a bunch of certs no PDRS and I can see no diffrence but if there is one some one let know.
Not seeing a dime is not what we care about it making sure MT and the rest will be bared from doing buisness and possiable jail time also if charges can be brought civil or criminal we the investors are out but the G will take all of the property.
Trust dealing with drug dealers is diffrent but when you take there stuff there money there kids money homes cars boats the wifes personnel effects everything that just kills them more then anything.
I have said it many time the G takes a little while to get moving but once it does it can hit so hard that anything in its way gets destroyed.
I do not think we can but we can put enough pressure on the SEC FBI to look into MT and the other one and see about the criminal side. Pedro will be harder.
If MT gets wrapped up into legal troubles he will flip on Teresa and Pedro in fact what I can tell you is the first one arrested or the first one who comes forward in the federal system is usually the one who get's the best deal or get's off. It is the last one who gets it in the END you can kind of laugh at that one (2 meanings in that) anyway if Pedro was smart he would borrow money from so where payout a cash divvy instead of the land pay out all 1 years do a big buy back of shares.
Show all that he is trying to make good on everything. If he does nothing that is ok but only in the short term. It is in the long term that he will be damaged in the business world.
And for anyone who thinks that they do not need the good old USA look again the EU, Asia, south America anywhere even the middle east with the oil if America or china's economy takes a hit then the whole world hurts.
Pedro needs a good name in America to do business. Even in Cuba.
The one thing I will say about PEDRO if he is connected in Cuba and once this embargo goes which I think it will. It does need to.
Man that place will rock. The first place I am going back to is Gitmo and I will open up a Bar/ Rest/ casino as close to the North East Gate as possible of the Naval Base. I was stationed there and the pictures and stories from the old Officers who had been stationed in Gitmo in the late 50's and early 60's tell tales that rival any from the Philippians.
Money maker I will invest heavy in Cuba once I can I have the money in hold to do it just waiting. Anyway Pedro will not return any calls or emails he skipped out I a post a few days ago I said that this was what was going to happen.
We need to focus on MT and Teresa and the rest of the clowns in the U.S.
elo a few posts ago I said that is what was going to happen not that anyone in this did not already know that.
Now Now we are all angry but we all enetered into this as adults and we lost for now but guys like these will get theirs in the end. I still feel that there are a few that they do owe a lot of cash too who you do not want to be involved with anyway or with anything other wise they would of skipped town long ago and not try so hard to make this work.
But lets not send anyone. Lets do what we can threw the courts and just letting everyone know about these individuals.
Hurt them by the way of showing proof so no one will want to hire them or do any kind of buisness with them. We are in the early statges lets network with each other off this board and look at any legal means.
I am down with a class action or any legal action.
I think at this stage we all need to come togeather pull any resources and try to find a good attorney that can advise us if there is any thing we can do.
Not sure if there is but hay worth trying.
The real question is if we can get anything back. I say no but if a few end up with criminal records I would be fine with that.
Funny how it is all quiet from the banna picker and MT. I think the lights have turned off and all bags are packed and as we post IMO they are turning off the phones and computers so no one will be able to get a hold of them.
Right now in there basment slum apartment it looks like siagon in 1972 a lot of burning and shredding going on tossing what ever cash and anything that has value that can be carried into bags as they are fleeing
No I think all pritty much knows what is going on.
Look not getting paid for 8 months of work is the main sign. IMO.
When the company heads are not receiving there pay checks or some other kind of pre arranged compersation then that is a big old red flag.
Running to the FBI is one thing running to the SEC and saying hay just take a look at this is another.
He did nothing when he realized there was somthing wrong.
Some like to say hay I was just following orders or yeah I heard the the screams or saw the crash I just thought someone else was going to call the police or help.
Well I am no legal egale but I would say in some cases there is case law that will say other wise. So even thinking somthing is wrong and not acting or at least telling someone that there might be wrong doing going on makes them just as liable. IMO
A midas how is it going. Well it is said but at this point I am afraid that it does not matter if you have PDRS or CERTS or BOTH because in the end all we got is a big NOTHING.
So any takers on when this will be halted. I hope and Pray like now but I say with in 45 days this will be halted. Anyone else.
Lets not rub anyones face in it I beleieved and trusted in this also at one time. I thought there was a chance to make some cash have a nice run. sell at .02 or even .03 or better but we see what happen with that idea.
I never turned in any certs to these guys. That is what started to get me worried.
I thought about it but decided in the end not to. Not that holding $6k in shares is doing me any good.
Once I saw things as a scam which was around this time last year is when I was starting to question it softly at first then harder hay Pedro named me in one of his BLOGS as a TROUBLE MAKER RIGHT. A JA DO YOU REMEBER NAMING ME. REMEMBER WHAT YOU SAID DO YOU DH I REMEMBER. YOU NAMED ME AND 1 OR 2 OTHERS WHAT A JO YOU ARE.
What got me angry is that when the WALL was filled with the writing there were a few that still thought this was real.
My only goal was not to make them feel bad but to get them to admit to themsleves this thing is a scam and then admit it to the rest.
Look at it as a intervention before you can get help or have others help you you must admit to youeself you have a problem.
Anyway lets not hit below the belt.
As long as they admit they were wrong as I did as others then give them a break. I always stated I was going down with this ship and I did.
All the joking aside this thing has been coming apart for a long time these guys tried hard to keep it up.
All they where really doing the last 8 months was to try to get individuals to stop writing letters and making calls etc...
They were just trying to get new investors and convince old ones to trust them that things where on track.
Now I will give them a few props that they got this scam up and running and got some investors but it fell apart fast so fast that they are still keeping this up and running they can not believe it fell apart.
You would of thought they would of shut the lights off by now
or tried to buyout a few of the nay sayers early and make them go away but hey they are just to stupid.
Funny thing is iof they had come up to a few and said hay .03 or .05 per share and go away for good they might have pulled it off or kepted it up running a little while longer.
HOW ABOUT THAT
A PEDRO I THINK IT IS TIME FOR A BLOG UPDATE HOW ABOUT IT BODY WHAT ABOUT A BLOG UPDATE.
JUST REMEMBER JA PROVISIONAL WARRANTS CAN BE OBTAINED.
We should alert the company about her.
Nice find If it is the same person
Theresa Rogers
(806) 282-3109
theresa@bluehavenhomes.com
I am loving this It is over PEDRO we might not have won the war but we are close to it. You FJA's you and the rest thought you were smarterthen anyone else.
You had so many chances to get this PPS up but failed at every attempted. Do not blame us You JA you just shpuld paid out the 1 year and you would of pulled this scam off for a year or two.
You and your bunch of JA's can not even pull of a scam.
Well I agree with your post except that everyone who has ever been part of the company is a criminal at any time Jim F could of alerted investors and the SEC somthing was wrong was happening.
He left because even though he was not paid so he says they more then likly paid him off to goaway and not say anything.
Thank you Post that for all to see the more we keep hitting the better it is.
Hay put me done for any class action
You are right but there is no way for them to fix this. A shell company with no cash is just a shell company with no cash.
It is going to take a lot of cash to do what they want to do. Unless they hand out paper IOU's which would be the norm for these JA's
So it finally comes out that this thing was nothing but a scam what a shocker. Now they come up with another BS scam that they are going to do bail out what a joke.
With what money. You have not made one cent the hole year of 2008. You will never reinvent this scam I and a few others will dig and and swing at your every attempt.
Just file for chapter 11. And go away.
Just IMO this whole thing is fraud MT is not a fall guy he never was or will be. They are using MT with his consent to try to convince investors that the company is now doing something to fix this. Which is nothing?
If they want to fix it
Then show the rights to the land. Which they do not even talk about anymore. It like it was never said.
Show AF past and present. Can not do that because it never happens. Because there was never any money to Audit. Just a scanner that Mike Terrell or was it Scott Terrell or is it Mike Scott Terrell can not work. Not to mention that they kept posting gigantic quarter profits and now they report nothing. I think these FU's think we all forgot about quartaly reports. What JO's
Show proof of 360,000,000.00 in Gold. Well enough said on that I am laughing so hard I just pi^&ed myself.
Payout the 1yr. They can't and will not because they have no money. Well they have money but IMO they put it all in there personnel accounts.
Conduct a share buy back. With all that money it should be easy right well we need not to address that again.
Oh why not just sell any shares remaining at .05 they where offered that. Oh ok that is right the offer is like the land and the gold and everything else it does not exist.
IMO Pedro, Teresa, MT or who ever he is and the rest are a bunch of con artist. They know it and we all know it.
IMO this POS fell apart faster then they thought. They where not counting on that. The only reason they are keeping this going is they are trying everything to re-invent the scam. They must owe others money.
This will only end once an investigation starts then they will do something on the line of one of my last posts.
The final card will be an R/S that is the only way they can try to reinvent this thing once they do that they will run and run fast. That is if this scam last that long. The only other thing they can is file for chapter 11 or 14 or what ever it is and that would end it all. In fact I think I will bet on that happening very soon.
Look we all know there is so much more out there but this above is just high points.
And the funny thing none of these guys can say anything negative about any posters who call them out bash the company or there character and you know why because they stated all this themselves. They put there own foot in their mouths. They made the promises. Ok no one else. They just thought everyone was going to blindly trust them.
But Buy there actions and non actions by themselves destroyed there own character.
No one else but them. Time after time everyone has given these jokers a chance and time after time again they F it all UP.
These guys are so bad they could not even sue for defamation of character. They could try but would only expose who and what they really are and open themselves for major counter litigations.
Not that they care because after loosing in court they would only run south of boarder and never pay out. But that would be the same old story try to flip it in there favor then when it falls apart try to spin it and if it fails then run.
Pedro if you are real just pay out a cash divvy for the land then pay the 1years to all who are it that spot. Tell all share holders who the buyer was that wanted to pay .05 per share so we can sell it to them. Or just prove all nay sayers wrong by showing the proof that all that has been stated and promised is real. Can we make it any easier for you? Come on guy is it that hard. It is. Only if nothing was true this whole time.
Thank you. It suc%s but hay we all took a shot now lets work togeather and see what we all can do to turn the heat up on them. I did contact the SEC again left a few messages for them.
I also going to contact the FBI and there fraud division in NY tomorrow. I really do not care about loosing the money on a high gamble.
What I do not like is the lies and fraud. For example they stated that they made like what a 100 million one quarter then when investors wanted to see the AF that is when all the BS started. These JA's thought that buy making a bold statment on how much money they were making no one was going to call them out on it. That is when I still supported them but never bought another share or never converted any of them I was hoping that the AF would happen but it never did.
The only reason they made all those bold statments about making all that money was to trick investors into investing more and hope more would come in then do the hole PDR exchage thing and that hole POS scam would of worked for a good year or two they would of made a ton of money as would of most of the early investors as long as they got out early.
These JA's never thought or counted on this thing falling apart so fast.
I was just praying for a little pop in the PPS at one point to unload shares which never came it just kept dropping lower and lower. And there was never a pop so hay what can one say.
But when these guys are running a company and stealing money by fraud thing need to be done.
That will never happen. Soon it will stop trading and then the company will close up shop. The lights will be turned off and all will just slip away.
But they will put out one last BS BLOG on how everything will be worked out and we will prevail.
They will go on and say how they are working with the U.S. SEC to find all the wrong duers and all share/ pdr holders will be happy soon.Or that there are many individuals/ companies interested in buying PNMS.
Please come on PPS at .0001 and he wants all to believe that he was given an offer of .05 per share. What a DH. No real person or company would buy this why would they this is just a shell with no way of making money other then buy scamming individuals and borrowing from peter to pay paul.
Any way then a few days later nothing the phone contact numbers will no longer work. The email that some will send will come back saying error unable to deliver then the last few JA's will say oh this was a scam.
To funny. Does not matter if you bought in and never sold you lost. Some might have made some money but most did not but hay most were just hoping to get in at way under a .01 then sell in the low pennies anyway and make a few bucks. But these JA's can not even put togeather a scam more or less a legit company.
I just wonder what these two FU's will try next and under what name. We must try to stay on them. So they can never do bnuisness again.
Why are you so angry have you finally realized that this is not a rocket and that it is nothing more then a scam.
If so just say it. We all are in the same boat we all rolled the dice and lost but you must be willing to state it.
The more of the old belivers that openly state that this is nothing more then a scam being run by a few desperate individuals the better it is.
Your 1 year guarantee price for Jan 28, 2009 might as well be Jan 28, 2008 or simply you will never see it. Sorry you and I and the rest took a little bath on this one.
I just feel for those who dumped a ton of cash into this and never sold.
I think maybe the G is looking into all this but not with the positive view he sees it as. Putting the blame on some one else will not work he and the rest are just as much at fault.
Number one the main part of this scam is the PDRS if you can not see it then you are blind.
number two he has never come clean he is putting the blame on some one else.
number three by putting everthing into a blog is just like hear say. If he puts it in a PR it is like public record.
number 4 Notice how he refusses to put anything in a PR. you can not hold him to it.
There is nothing he can do this thing is out of buisness. There is no cash gold no way to make money nothing it is a totale shell that has no revenue ability.
The hole thing was built on the way of borrow from peter to pay paul. Know peter is on to the BS and is not given any money so Paul is left out with his thumb up you know were and these guys are so angry that the sam unraveled so fast before they could get the main scam part up and running. That is why they are still trying to steel money.
Once again pedro could turn this all around.
All he has to do is PR that the land divvy is a dead deal and that instead he will provide a cash divvy in stead of the land.
If they have the money they say they do then this is not a unreasonable thing to do.
See that would show good faith from the company they are real and are legit.
if they did that exspecialy before the holidays and at this finacial crises that the world is in other penny stock investors who are just waiting for a good buy would see this and they would jump in.
No one could talk bad about a cash divvy regardles if it is a few thousand or a few hundred.
But no nothing why because they lied about the money/gold and land.
They have nothing It is just that simple show investors they are real.
Ok 1 million shares and 100.00 bucks which one
No one and I mean no one will ever get rich or even break even with this one. This is all worthless. But at least he can take a tax right off for some of the loss.