While the SEC probably looked into the HSBC deposit, it's not why they suspended BGMO. The Cash Backed Deposit and the alleged sub-investment agreement were forward-looking (and very far fetched) plans, but company didn't claim to have actually made any money yet.

The SEC is slamming BGMO to the floor because it filed financial statements with OTC Markets purporting it had $179.5 million of cash and earned $88 million net income. This is an actionable offense.

It is simple process for SEC (and any accounting firm) to confirm with HSBC information about a deposit account. There is even a standardized form for this that gets processed within 48 hours. I am certain the SEC has confirmed the bank papers were bogus, which is why they acted to suspend trading.

I give leeway to Singh and board members, but looking for some definitive termination with the 10Q nest week. I can't fathom why Platinum allows this to continue, as it makes them look like dopes.

Herzog is an non-stop and effective liar and dissembler that cash does exist and is about to arrive, just some snag getting banks to wire money out.

VSTA needs to act now, to avoid continued damage -- as long as BGMO is around, VSTA is tainted.

My hunch is that LL Bradford reported suspicions of fraud to SEC (as they are required to) many months ago, to protect its own ass given the way it's work product was being flagrantly misrepresented. SEC works slowly and would have sent requests for information allowing time for responses. VSTA default might have accelerated matters, because it made apparent that Herzog & gang were straying outside the boundaries of pink sheets, where caveat emptor attitude applies. Also possible BGMO was picked up during the Federal criminal investigation of Robert Fowler U.S.Capital Funding Trustmenot, and referred in SEC who was prompted to act once competing agency showed interest (to protect its turf). We may never know. Once on the docket/radar screen, there is no fast/easy way off. Criminal charges could happen a year from now, with total silence until then. Grey sheet trades might start with ridiculous tape paints, but reality is, the shares are toast.

The reasons I have little doubt the HBSC papers are as worthless as all HH's other "signed documents:

1. Hillard's long history of announcing unfathomable financings, every single one of which has proven to be phony.

2. The implausibility of HH being selected as a manager of money to make equity investments, given his lack of any experience as an investment manager, lack of historical investment success, lack of organization, resources, analysts, funds management capabilities, etc. required to be a money manager. History of litigation over matters of fiduciary/governance/credit/investor repayment.

3. Compensation structure far in excess of even the most successful proven hedge funds.

4. Tax inefficient structure that would never be used for bona fide offshore money.

5. Lack of information on other parties - National Wealth, Autillion, and the purported investors (who supposedly value secrecy, but didn't mind their bank statement, passport info, etc. being waived around).

6. The passage of time has shown no cash appearing.

7. Company's failure to provide easily obtained deposit confirmation by having independent accountant actually contact HBSC directly, having investor make PR, etc.

8. Numerous things a company with real money would do -- employee hiring, offices, audit, audit, independent board members, audit, etc.

9. No investments made.

10. Inexplicable concept foisted that "$88 million profits" have to be held on deposit for a year, for no apparent reason. Yet, rest of claimed cash ($179.5 mm) also not available.

11. Lack of credible explanation on investment activity that produced massive profit. Lack of any traders/employees/admin staff, etc. talking to press (to brag about whale-sized profit, or revealing affiliation on Linkedin, job boards, etc.)

12. Withdrawal of Accountant, Lawyer and IR firm from doing business with BGMO.

13. Lack of insider buying, despite claims cash assets of company massively exceed market value.

14. Proven record of HH ignoring every blinking red flags of scams and even cottoning up to fraudsters, such as Robert Fowler, Vivek Sinha, Shannon Newby, etc.

15. Lack of any information from the company including its failure to maintain legally required shareholder meetings, disclosures, etc.

16. Lack of reason why investment activity would need to done through pink sheet penny stock that brings no assets/infrastructure/employees/expertise to the table. If HH were a superstar investor, he would start a new clean company as vehicle, as shut down BGMO.

17. SEC SUSPENDED TRADING.

Not necessary -- SEC is already on the case.

Market figured out Herzog's scam a long time ago, which is why shares trade for pennies.

Glad to see SEC is shutting this down, finally. I wonder how the lawyers react to company promoters taunting them.

Who else but Herzog, Sohail and wives had access to shares at $0.00001? Most people didn't get endless free shares. Go figure they would be behind mindless campaign to ignore reality.

I agree. Completing the compilation was bad enough judgment, since CPA Lewis had opportunity to see first-hand that the super secret European business was bogus. But at least the compilation had disclaimers. Then LL Bradford stood silent while BGMO and its minions churned out daily touts grossly mischaracterizing Bradford's work product.

But the damning act was the letter Lewis wrote that had nothing to do with accounting, but everything to do with lending creditability to phony financial papers, which Lewis did not independently investigate. To this day, BGMO has been touting that letter.

I am glad you reported Lewis. His aiding and abetting the BGMO fraud should not go unpunished.

HSBC is no wall at all. It bears no responsibility whatsoever for the scam HH and his European friends are running. None. It is not no required to know about or comment on spurious nonsense, unless contacted directly by a legitimate party, which no doubt SEC has already done.

Even if theoretically, the deposit was real, the money is not BGMO's or NWI's money.

Every day BGMO fails to fulfill its legal contractual obligation to fund SPA, is another day HH proves his words are not worth spit.

The scamsters HH attracts are experts at manufacturing "papers" to use in their ruses. Cash Backed Deposits are well worn fraud tactic. There was nothing on those papers that couldn't be faked with word processor and stamps made at dime store.

If there was a mystical billionaire wanting to blindly invest money through NWI, any delegated sub-advisory deal with BGMO to select "Buffett like investments" would be killed because of Federal investigation (and lack of making any investments in 7 months).

Show me real money. Talk talk talk but no visible cash.

HH had opportunity to show proof the SEC, and they suspended the shares. Check Mate.

If I had 9,000,000 shares at $0.0001 I would slavishly cut/paste useless info as IR function. Nothing else to do, while the dreams of wealth disappear.

I think any individual who invested 1 Dollar in BGMO, is a strong loyal supporter and well wishers of BGMO. - by this you mean all the 100 share tape paints?

The people who invested minimum one dollar understand that the financial's are prepared by CPA and are authentic can not be fraudulent. SEC says they are fraudulent, and so does all common sense and opinion of all independent people who have looked at them. CPA merely compiled and fully disclaimed responsbility for figures.

The people here think no PR issued from HSBC Bank stating Mr. Herzog or its CPA are using fraudulent BANK STATEMENT OF HSBC on Otcnarkets. Not the Bank's responsibility. But I suspect SEC contacted them to confirm statements were faux counterfiet before suspending BGMO trading. Easy and obvious step to do. No need to rely on guessing.

Would you let anyone use your BANK STATEMENT to make public announcement, And are you going to stay quite. Not bank's responsibility to know what fraudsters do. They only have to respond to legitimate requests for verification, which accountant glaringly didn't do.


The people who invested in BGMO, Don't understand VSTA CEO is still a JV Partner of BGMO. There is no JV between VSTA and BGMO. This is a lie. BGMO subsidiary is allegedly a small investor (50,000 shares) and is in major default of Share Purchase Agreement.

The people who invested are not ready to make in deal with SHORT SELLER's. The mystical "short seller" would be happy as a clam now that BGMO suspended and likely revoked, except for short sellers against warrant/restricted stock, who will be getting contacted by SEC to disgorge their proceeds, pay fines, etc.

The people invested in this company do not accept, That this company is dead, Not dead yet, just slammed to the ground by Federal Authorities, who will pursue case to its end.

The people here do not understand ,What must be the reason for me to stay on this board. Habit?

The people here investors in this company are very confident no matter what this company is going to come out very clean very soon. Same people confident there was not Federal investigation and every IR about BGMO, none of which has proven true.

VSTA silence is puzzling. 10-Q next week will give update on current events.

Shares are tottering on precipice of steep drop. I am surprised the price hasn't been taken down 50% already. Money from Platinum keeps cramming the common. Dreams die slowly, but VSTA hasn't accomplished anything this past year except taking on more debt. The interlude with BGMO is very telling and quite embarrassing to Singh and Platinum, but apparently is not taken serious by the market.

VSTA silence is puzzling. VSTA files 10-Q next week. Shares are on precipice of steep drop, surprised the price hasn't dropped yet.

Keep in mind the BGMO IR machine touted with increasing volume that "no Federal agency was investigating BGMO" until the day the suspension was enacted. This despite the likelihood that BGMO had been served papers seeking explanations many months ago. There is reason HH stopped direct promotion after January.

The SEC will build the easy case to pressure HH/SP into non-judicial Settlement banning them from being officer/director/IR agent for any public company:

Knowingly filing false and misleading information with OTC Markets.
Failure to maintain books and records.
Failure to hold Shareholder meetings
Failure to provide required disclosures to shareholders.
Failure to maintain appropriate financial controls.
Intermingling personal and corporate funds.


They are unlikely to promote this to Criminal Case, because HH/SP haven't personally profited to a large degree -- in fact they've been losers -- collateral was posted to lenders, money paid to scam artists for SBLCs, SWIFT fee scams, etc.

Herzog still faces defaulted Settlement Agreement with CAMOFI, which reverts to prior personal guarantee, so his sunset years won't be rosy. Sohail in potential worse situation as he could find green card/citizenship at risk. Just the sort of scum this country needs to send back to Pakistan.

SEC won't likely chase down all the foreign scamsters HH dealt with except the Vancouver gang, which is likely to already be on the SEC hit list.

Much of the volume seemed like staged tape paints, except occasional share dumps through a MM that you pointed out. A few gentleman gamblers were playing the cycles, but appear to have been caught Long and Wrong, and now are stuck.

Herzog and friends control majority of shares because they kept issuing more shares and warrants to themselves, but they are certainly sellers, as Herzog/Parekh were in 2010 when they sold most of the their then holdings. This really was an ATM for them.

BGMO can't "make right" an empty shell that has told lies and false stories for years. There is no economic substance to anything about BGMO, otherwise the company wouldn't stiff its vendors, fail to pay registrations, rely mostly on chat boards and social media for IR, and operate from mail drop with only two employees. All the counter-parties are made up groups that appear in press only associated with BGMO -- like NWI, secret depositor at HSBC, Brazil bank, secret holder of Italian Bank eurobonds, US Capital Funding Trust, FortuneMint, Elpiconjob, eSoft Informscamatics, FoxBank, et al.

US Capital Funding has been nailed as the outright fraud most people determined with 10 minutes of diligence. Took Feds long enough to shut down the Ladies Man.

The pressure HH/SP is under relates to potential Federal securities crime charges.

BGMO is not over, but it's been slammed to the ground by the Feds.

Trades in shares to resume soon on an "appointment only" basis, so tape painters can cross trades at any price they want. But outsider shareholders have no ability to actually sell.

There is no accumulation because company has no assets/value, and even as shell it is now worthless.

Anything is possible and there is good chance the VSTA deal tipped the scale against BGMO. Once Herzog started dicking around a public filing company while continuing to actively spread false and misleading information, SEC finally had to act. Likely the file was already thick, based on years of complaints, but only people being harmed, deserved to, as this was caveat emptor.

There is chance Seeberger and/or Bradford went to SEC to proactively protect their business. Law requires accountants doing compilation to report suspected fraud. Seeberger also has responsibility to SEC to report issues, though also has attorney/client privilege.

The Robert Fowler criminal fraud case would without doubt lead SEC investigators to BGMO, given plethora of links and PRs connecting the firms.

We may never get clear info on what tipped the scale. But clear BGMO is toast -- is under criminal fraud investigation, and will not trade anywhere but gray sheets ever again.

Why Singh is silent on defaulted SPA is a mystery, but he has many problems as company is surviving on bridge loans from Platinum. 10Q due soon.

There are no good options for VSTA and shareholders. Impressed more holders aren't trying to cash out, as stock is certainly over valued by 2-3x, as common sinks under Platinum debt. Hard to access value of IP, but there is always hope that stem cell can make hamburger.

Thanks for the useful information -- you see the inane promo I face daily. Facts and reason aren't important.

How did I miss this....

http://www.sec.gov/litigation/litreleases/2013/lr22702.htm

Just what many of us said about US Capital Funding Trust after 10 minutes of desktop review. The suckers conned by Fowler were mainly foreigners, except for Hillard Herzog who is magnet for con men, and gladly willingly jumps on their ridiculous stories, so he could make PRs. Wonder if Fowler ratted out HH?

I have renewed faith in our government.

Let me know when Shannon Newby and Vivek Sinha get their due.

Any funds BGMO might have would be from money laundering for their Pakistani friends. One theory of mine why company went around world opening bank accounts and pretending to be in many businesses, without accomplishing anything. Those friends want their money back.

Short sellers, if there actually are any, would be feeling pretty smart/happy about now. Any recent short selling would be insider knowing BGMO under investigation -- no one else would bother or risk shorting penny share that had historical jumps. Insiders would be shorting against warrant positions. HH and friends have copious warrants and cheap shares. Now worth less and soon worthless.

You have no idea how much a pariah (outcast) BGMO has become. The SEC actions are just beginning. SEC doesn't file trading suspension unless and until they have an ironclad case.

The goose is cooked.

Hillard Herzog will never be CEO of a public company again. He will be banned for life unless his time expires before slow wheels of SEC prosecution finish turning. SP will be banned too.

You are blaming the wrong people -- this is purely the fault of Hillard Herzog. Follow the money. Tried to warn you one day the shares would be worthless.

Will VSTA be commenting on the defaulted Share Purchase Agreement in light of the SEC investigation into BGMO for fraud and other criminal activities?

The sole remaining leg the BGMO pump squad is standing on is that Shawn Singh still believes the SPA will fund, and he's a smart person who has done diligence.

Has VSTA (or Mission) been contacted by SEC?

400 shareholders? They got screwed over already by HH. Shares climbed from 30 million to 240 million in 4 years. Papers show most went to HH, SP and their wives. It's been a freaking share printing press for the BGMO insiders.

I believe BGMO was suspended because of the grossly false and misleading financial statements filed at OTC Markets claiming huge cash and income, that could not be supported by any credible information beyond the sort of obvious phony papers that are BGMO's stock in trade. The financials were HH's action and responsibility. He and Sp are completely culpable for their content.

I suspect the Vancouver gang knows a lost cause when it hits them aside their heads, therefore I wonder who could be so blind/deaf/dumb as to keep touting a non-trading stock? I don't have an answer - I am just speechless to see such vigor in the face of certain defeat.

This stock is just so entertaining.

Speaking of FINRA --- wonder if we'll learn the identity of the "public broker dealer" BGMO claimed to own 2 mm shares of. Could be Global Arena.

Whomever it is, I can image the BD was fudging its net capital calculation by holding shares of BGMO it exchanged for its $1 mm of its own shares.

Maybe I should prompt SEC investigators to dig into this.

SATISFACTION

Thanks for info. You da man.

I am looking for SEC to ban HH/SP from being officer and director of any public company, especially non-reporting pink sheet.

And disgorgement of this and the 62 mm practically free shares:

Thanks for doses of reality and realism. Concise and honest.

It is highly likely BGMO received requests for information and maybe subpoenas over the past months.

It is humorous that the company's IR machine (Heckle and Jeckle or is it Heckle and Heckle and more Heckle) keeps churning out garbage.
I've begun to wonder, since I think the Vancouver gang is rational, profit oriented and knows a lost cause when it happens, who could be so devoted to keep running the IR press in face of SEC shutdown?

Here's the granting of 9 MM warrants at $0.0001 per share to Sher Bano and Gertrude Witz -- which HH forgot when providing disclosure to Seeberger.

Accredited Investor is not a very meaningful qualification. However, I am confident, BGMO does not qualify. ANOTHER LIE BY HERZOG.

LL Bradford should be censured for its collaboration with BGMO. While their compilation was adequately disclaimed, the stood silent while their work was aggressively misrepresented for months to the public by BGMo and its band of grifters. The January letter was grossly negligence and should never have been written. Only an idiot would not realize how that would be misused. Dustin Lewis proved himself an idiot.

As the IR firm that inflicted BGMO onto VSTA causing a lot of damage, will you be issuing comments on today's SEC action vis-a-viz BGMO? Or will that come from VSTA's new IR firm?

Any comments?

There is satisfaction in seeing pretenders stuffed fully in their face. Herzog is slammed to the ground. Eating crow is the least of their concerns now that this is front and center at SEC. Irony can be so ironic.

BGMO SUSPENDED

Thank you Mr. Singh for taking action -- you are the man. You didn't let Herzog walk all over you. The thing about irony, is that it can be so ironic.


Suspension of Trading
Aug 02, 2013
OTC Disclosure & News Service

Washington, D.C. -

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION


SECURITIES EXCHANGE ACT OF 1934
Release No. 70093 / August 2, 2013


The Securities and Exchange Commission ("Commission") announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading in the securities of Bergamo Acquisition Corp. ("Bergamo") commencing at 9:30 a.m. EDT on August 2, 2013, and terminating at 11:59 p.m. EDT on August 15, 2013.


The Commission temporarily suspended trading in Bergamo because questions have arisen concerning the adequacy and accuracy of press releases and other public statements concerning Bergamo's business operations and financial condition. Bergamo's ticker symbol is BGMO.


The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available
information and any information subsequently issued by Bergamo.


Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspensions, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5777. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to the abovenamed securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in
violation of the rule, the Commission will consider the need for prompt enforcement action.


If any broker, dealer or other person has any information which may relate to this matter, they should immediately contact the following individuals:


Sanjay Wadwha, (212) 336-0181 or wadwhas@sec.gov
Associate Regional Director, New York Regional Office


George N. Stepaniuk, (212) 336-0173 or stepaniukg@sec.gov
Assistant Regional Director, New York Regional Office

Your #1 statement is false. BGMO was contacted by authorities in 2010 to provide evidence of $1 billion LondonWall financing, after numerous PRs of claiming imminent funding but on terms that were fantastically off-market and nonsensical. HH provided the "signed papers" and there doesn't appear to have been further action.

BGMO defrauded lenders International Capital Group and Camofi Master LDC, was taken to court and lost.

Whether or not BGMO was investigated by SEC is moot -- BGMO still has no money and is in glaring default to VSTA.

It's not much of a tag line -- we haven't been caught.

Inquiring minds want to know -- where is the money BGMO claims and claims to have. Why does BGMO play this delusional pretend game, head faking people left and right?

Good thinking. This may explain why the Vancouver crowd is repeatedly claiming "there has been no investigation". They know there is one -- and are testing if there are leaks from insiders. To date, whenever the Vancouver crowd says X, it usually means not X.

You could be on to something.

Excellent Post -- spot on analysis.