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UAMA CEO knowingly committed fraud in SEC filing!
Here are the facts:
- Benoit Laliberte signs filings as President, CEO and CFO of UAMA
- Claims "NO violations in past 10 years" in Pink reports of YE 2018, Q1 2019, Q2 2019
- Court found him guilty v AMF in April 2009 on additional 3 counts in addition to 41 counts in 2008
- Evidence clear of convictions within past 10 years at time of filings.
Look it up yourself:
• go to OTC Markets
• enter UAMA in "Quote" field
• when UAMA page opens click on "Disclosure" heading where you will find all reports and financials
It is clear. Mr. Benoit Laliberte did knowlingly commit fraud in these UAMA reports.
Complaints have been filed with the SEC.
UAMA, OTC Mkts flag up, AMF Cease Trade Order
Seems a lot like old times with Inelco and Teliphone
Both those listings revoked by SEC.
Though maybe "teeth" in any SEC action this time.
SEC takes dim view of fraudulent filings!
UAMA - AMF Cease Trade Order remains.
AMF Cease Trade Order
Announcement | 03/26/2020
DECISION No 2020-IC-0005
File No. 43804
March 26, 2020
Cease Trade Order
United American Corp. (the "Issuer") is a reporting issuer of the over-the-counter market in Quebec subject to Regulation 51-105 on issuers listed on over-the counter markets American, CQLR, c. V-1.1, r. 24.1 ("Regulation 51-105");
The issuer has failed to file with the Autorite des marches financiers (the "Authority") the documents and information required under section 73 of the Securities Act, CQLR, c. V-1.1 (the "Law") and section 5 of Regulation 51-105 (the "default");
Given the failure of the issuer to remedy the default on the date of this decision;
Considering Articles 265, 267 and 318 of the Law;
Given the powers delegated in accordance with article 24 of the Law on the supervision of the sector financial, RLRQ, c. E-6.1.
Consequently, the Authority:
banned United American Corp. and its securityholders, brokers and their representatives, as well as to any other person, any activity related to operations on values of the reporting issuer in the over-the-counter market because the latter did not in compliance with the obligations set out in Regulation 51-105.
The Authority may revoke this decision under section 318 of the Act if the issuer remedy the default satisfactorily.
Martin Latulippe
Continuous Information Director
OGI / ale
Original (French)
OTC Markets has UAMA "Dark or Defunct"
Seems like MMs gone and market truly reflecting interest in UAMA.
UAMA CEO knowingly committed fraud in SEC filing!
Here are the facts:
- Benoit Laliberte signs as President, CEO and CFO of UAMA
- Claims "no violations in past 10 years" in Pink reports of YE 2018, Q1 2019, Q2 2019
- Court found him guilty v AMF in April 2009 on additional 3 counts
- Evidence clear of convictions within past 10 years at time of filings.
So Mr. Benoit Laliberte did knowlingly commit fraud in these UAMA reports.
Complaints have been filed with the SEC.
UAMA average daily volume "0" as in ZERO!
Wow!
Maybe UAMA really is fading fast!
Inelco, Teliphone revoked by SEC. UAMA next?
Getting the sense that UAMA is fading fast.
Complicit posters seem to have disappeared.
Most recent UAMA quarterly reports acknowledge Blockdome troubles including land-use violations and dispute with power utility.
TNW Wireless dead! Now talking about launching an MVNO which is laughable at best, though in keeping with being the laughing stock of the Canadian wireless industry.
Even complicit posters have abandoned UAMA!
Supportive fraudsters who submitted undocumented platitudes about the business, management or unsubstantiated projections of future success seem to have disappeared.
In the end the facts meant nothing to them and they reverted to personal attacks on posters who rely on the facts.
Not seeing any signs of life vis-a-vis the future from UAMA.
Suppose it's possible that business is really fading fast and maybe gone soon!
UAMA a serial failure! No progress!
Mismanagement apparently an art form at UAMA.
Nothing, repeat nothing ever moves ahead as expected and those failures all happened on the watch of UAMA CEO, Mr. Benoit Laliberte.
Any real company makes the necessary changes to shift roles, assuming that there is good reason to keep key executives.
If UAMA is ever to be successful it needs to replace the current CEO. He may be a clever patent writer, though time has proven he doesn't have what it takes to be an effective CEO.
Further his criminal convictions (per The Canadian Press) on 44 counts of stock fraud, market manipulation and deceiving investors prevent UAMA from raising institutional capital to finance expansion of the business.
Haven't seen any news of progress on either the Blockdomes or Wireless initiatives!
No news of progress at UAMA! A fail!
Blockdomes in trouble per latest quarterly reports. Land-use violations could force moving Blockdomes and cost of restoring land to pure agricultural use. Reports similarly disclose problems with power at Blockdomes and dispute with power utility.
Wireless has failed and as reported back in 2018, TNW Wireless network is INOPERATIVE in violation of terms of licence. TNW Wireless has no documented subscribers, has no roaming agreements, has no revenue and carries no traffic for compensation.
Now, in typical Laliberte fashion, there's mention of launching an MVNO, likely only to divert attention from the failing Blockdomes and the failed wireless initiative. That will predictably fail quickly as UAMA does not possess the industry contacts and relationships, does not have anyone with the requisite wireless knowledge or experience and more importantly can't raise the capital required to enter this highly competitive business.
Mr. Laliberte's convictions on 44 counts of stock fraud, market manipulation and deceiving investors makes it really difficult to raise capital.
Wireless a total disaster at UAMA!
Invested, UAMA et al bought RuralCom back in February 2017. RuralCom a market-ready wholesale cellular carrier with a small network already operational and had key inter-carrier roaming agreements with AT&T, Sprint, T-Mobile and Verizon. Benoit Laliberte doesn't have a clue about the wireless industry and couldn't wait to fire the RuralCom CEO. He then went to institutional investors that had provided RuralCom with financing term sheets, an end-run on the fired CEO, and those potential sources of substantial capital showed him the door.
Mr. Laliberte quickly learned that he and Mr. Panesar didn't have the contacts, the knowledge or the needed financial support to expand the business. Despite all the BS about appearances before the CRTC, TNW Wireless was failing fast and in 2018 the network ceased to be operational.
Now, according to quarterly filings, UAMA mentions that they may launch an MVNO (mobile virtual network operator) business in Canada. That's a distribution play in a highly competitive market and it will predictably fail. Mr. Laliberte and Mr. Treveor-Deutsch have never built a successful distribution business, have no relevant wireless industry experience and can't access the capital required to properly enter the market.
I built the largest cellular resale business in the US and UAMA doesn't have what it takes to be successful.
UAMA is just one big illusion and fraud. Look back at all the press releases like the cryptocurrency mining campus touted in 2019. A vision of grandeur that never happened.
Wireless has failed at UAMA.
UAMA "slip-sliding away"?
Blockdomes have acknowledged problems with land-use violations and now power utility, all mentioned in latest Pink disclosure Q1-2021 and supporting notes to financials.
TNW Wireless CEOs long gone and wholesale wireless opportunity failed. Now talking about potential MVNO market entry, though that predictably will fail. Why? No expansion capital, no industry experience, no contacts, no talent and no relationships with facilities-based carriers.
The $47M bankruptcy (CCAA proceedings in Canada) has totally gutted the asset and talent base and employees all long gone.
Nothing left but a couple of officers who have never built a business of lasting value.
Seems like FAIL is in their DNA.
"Illusion of progress" UAMAs most important product?
No secret Benoit Laliberte fond of big expansive news releases which never materialize.
My favorite the big plans for cryptocurrency mining campus in Quebec.
Nothing came of it.
BS baffles brains seems to be their approach.
Now talk of wireless MVNO which will predictably go nowhere!
What UAMA progress on wireless MVNO in Canada?
Mentioned in most recent 1Q Report and Financials.
No specifics of UAMA plans and details of plans.
What PROGRESS has been made on the MVNO?
Fail is in DNA of UAMA management team
Blockdomes in trouble. Land-use and power company problems mentioned in latest quarterly filings for Q1-2021.
TNW Wireless has no upside. They blew the market-ready wholesale carrier business and now are suggesting that becoming an MVNO may have upside.
As someone who built the largest MVNO in US wireless industry I know what it takes. UAMA, TNW et al doesn't have the relationships with the facilities-based carriers, doesn't have the experience or industry contacts, and more importantly doesn't have access to the significant capital to secure device inventory, train personnel and open retail storefronts.
FAIL is in the DNA of this management team.
UAMA now facing the facts!
Blockdomes in trouble. Land-use and power company problems mentioned in latest quarterly filings for Q1-2021.
TNW Wireless has no upside. They blew the market-ready wholesale carrier business and now are suggesting that becoming an MVNO may have upside.
As someone who built the largest MVNO in US wireless industry I know what it takes. UAMA, TNW et al doesn't have the relationships with the facilities-based carriers, doesn't have the experience or industry contacts, and more importantly doesn't have access to the significant capital to secure device inventory, train personnel and open retail storefronts.
FAIL is in the DNA of this management team.
Complicit posters were wrong about wireless!
Pathetic posters can't refute convictions!
LOL pathetic complicit posters have left!
OTC Markets still has warning on UAMA.
"skull & crossbones" on UAMA and labeled "dark or defunct"
AMF Cease Trade Order (UAMA) still in place!
It seems AMF remembers who Benoit Laliberte is.
The AMF successfully prosecuted Mr. Laliberte with court decisions handed down in both 2008 and as late as April 2009.
In summary, Mr. Benoit Laliberte, UAMA President, CEO and CFO was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors.
UAMA CEO guilty of FRAUDULENT MISREPRESENTATION?
1) US Pink-listed companies must file public disclosure documents.
2) Those Pink filing documents subject to SEC oversight especially when FRAUDULENT MISREPRESENTATION reported.
3) See following identical case:
Identical violations! Benoit Laliberte claims he had no prior criminal convictions within the past 10 years in the latest 2018-19 UAMA Quarterly Reports and Pink Disclosures. The evidence is clear he was found guilty on 44 of 48 counts of stock fraud, market manipulation and deceiving investors, with latest conviction in April 2009, clearly within the 10 year time period. UAMA Pink OTC market same as below and multiple violations so no accident.
If SEC took same action with UAMA that would mean:
a) permanent injunction, and
b) a civil monetary penalty, and
c) officer-and-director bar, and
d) a penny-stock bar.
That would effectively protect the public market and investors by preventing Mr. Laliberte from acting in any capacity for a publicly-listed company. Action is long overdue in bringing Mr. Laliberte to justice for his well documented and evidenced fraudulent misrepresentation.
In case of Mr. Laliberte the quantity and seriousness of past convictions could result in the filing of criminal charges which could result in jail time for Mr. Laliberte. According to other posts on this board (Bilal Khabab) Mr. Laliberte never paid his fine to Quebec, has been an undischarged (and undisclosed) personal bankrupt for over ten (10) years and failed to properly disclose $47M bankruptcy of Navigata-Westel and receivership of Investel Capital Corp. Expect the SEC to take all of this into consideration when they get around to appropriate prosecution.
All of this will be devastating to UAMA and shareholders. Like INELCO and TELIPHONE both revoked by SEC? Mr. Benoit Laliberte and Mr. Lawry Trevor-Deutsch both deeply involved in the pleadings for those failures.
caveat emptor - CAVEAT EMPTOR
fromtheuk should review his posts!
Damming apparently with clear intent to threaten and harass this poster.
Maybe gets dragged into process?
Stick a fork in UAMA. It's done!
Blockdomes beset by problems. Court-ordered shut-down and restoral of land to agricultural use. Company discloses they may face high costs to restore and re-locate. Latest quarterly discloses problems with local power company for Blockdomes.
TNW Wireless a total disaster and failed to launch market-ready wholesale carrier business. Now desperate to suggest a future as an MVNO.
As someone who built the largest cellular resale business in the US I can state without a doubt that Benoit Laliberte, TNW Wireless or UAMA will fail miserably as an MVNO.
So where's the upside for UAMA?
SPECIAL BULLETIN: There is none!
Hey Benoit! How's the MVNO doing?
How about an update on all the progress?
Got a resale agreement with a facilities-based carrier yet?
Got your own TNW Wireless network to OPERATIONAL STATUS?
Got an agreement with sources of smart phones and devices to sell under your label?
Have you started advertising yet?
Have you got store-front leases to operate in these markets? Potential subscribers will expect to see advertising and store-fronts especially in the bigger markets like Vancouver-Victoria, Okanagan cities, etc.
Hired any staff to man the storefronts? Who will train them? What's the plan?
Tell us Mr. Laliberte about all the progress you've made towards launching your MVNO.
Convince us that "the MVNO" isn't just another "ILLUSION OF PROGRESS" by providing verifiable details of your progress.
That will go a long way to convincing us that you're not a FAKER!
No future for wireless at UAMA! None!
Wireless initiatives total failures at UAMA!
They blew opportunity to build $40-60M wholesale carrier back following the purchase of RuralCom back in 2017. RuralCom had it all including spectrum licenses, roaming agreements, a working 3G network with path to 4G, a highly experienced CEO with the ability to raise capital.
Screwed up by Benoit Laliberte who figured he'd fire the RuralCom CEO and go straight to the documented investors. Needless to say they bolted and the business failed for lack of direction and needed capital.
It seems like failure is in the DNA of Benoit Laliberte!
Now the latest quarterly reports and financials are suggesting that UAMA is looking at launching an MVNO. Given the past failures and total lack of the needed skill-sets and capital this is simply a pipe-dream which will predictably fail on the launch pad.
UAMA has no inherent value and no upside!
1) Company suddenly pivoting back to wireless as cryptocurrency mining seems a royal disaster. Court ordered shut-down of mining operations and restoral of land to agricultural use. If property still housing miners are they operating in contempt of Court? Add to that the admitted troubles (see 1Q-2021 Quarterly Report) with the local power company. All SOP for this incompetent management team.
2) Seems both AMF Cease Trade Order and OTC Markets "skull & crossbones" warning are sticky. Maybe regulators understand more about this fraudulent enterprise than we give them credit for.
3) Take a look at the unaudited financial statements. Do they make any sense to you?
4) Where are the cash reserves ($599.00?), capital raising to fund these new alleged ventures and to bring the other ventures to market like the laughable MVNO mentioned in recent releases!
Who signs off on Financials? UAMA CEO, CFO?
Go to OTC Markets-UAMA and click on "Financials" heading
Now look at 2020 Revenue line.
Through 6/30/20 Total Revenue listed at $4,142 (000s). OK?
Now look at year-end for 2020. Yes year-end which should include all revenues for the year. Right?
Figure for Annual Revenue through 12/31/20 is shown as $1,600 (000s). WHAT?
Wow! Apparently "financials" all just dreamed up!
Maybe that's why OTC Markets flag still up.
"Skull & Crossbones" indeed!
UAMA CEO knowingly committed fraud in SEC filing!
It's a fact:
- Benoit Laliberte signs as President, CEO and CFO of UAMA
- claims "no violations in past 10 years" in Pink report
- Court found him guilty v AMF in 2009 on additional 3 counts
So Mr. Benoit Laliberte did knowlingly commit fraud in these UAMA reports.
Complaints have been filed with the SEC.
UAMA CEO, CFO knowingly filed fraudulent Pink Quarterly Reports!
Clearly fraudulent misrepresentation as Mr. Benoit Laliberte was convicted in 2008 and 2009 on 44 counts of stock fraud, market manipulation and deceiving investors.
UAMA filed fraudulent Pink reports in 2019 & 2018 and those Reports signed by Benoit Laliberte in his roles as President, CEO and CFO of United American Corp.
Benoit Laliberte, President, CEO and CFO of United American Corp (UAMA) claimed "NO" to questions on convictions within the past 10 years.
The evidence is clear (See 2019 Q1 & Q2 and 2018 YE Pink Quarterly Reports disclosure documents) and note responses to #8 of the Pink disclosure documents.
UAMA CEO, CFO knowingly filed fraudulent Pink Quarterly Reports!
Clearly fraudulent misrepresentation as Mr. Benoit Laliberte was convicted in 2008 and 2009 on 44 counts of stock fraud, market manipulation and deceiving investors.
UAMA filed fraudulent Pink reports in 2019 & 2018 and those Reports signed by Benoit Laliberte in his roles as President, CEO and CFO of United American Corp.
Benoit Laliberte, President, CEO and CFO of United American Corp (UAMA) claimed "NO" to questions on convictions within the past 10 years.
The evidence is clear (See 2019 Q1 & Q2 and 2018 YE Pink Quarterly Reports disclosure documents) and note responses to #8 of the Pink disclosure documents.
Care to add to body of evidence?
Discount as you may. Investigator acknowledged threats!
UAMA's wireless business a COLOSSAL FAILURE!
Bought market ready RuralCom Corp in Feb 2017 organized as highly efficient rural wholesale carrier.
Fired CEO and then tried end-run with investors supportive of former CEO. They showed Laliberte to the door. Maybe it was his lack of wireless experience, knowledge and contacts or maybe it was the criminal convictions for stock fraud, market manipulation and deceiving investors.
Blew that opportunity and waited while domestic carriers built out to eliminate the need to roam onto TNW Wireless cell sites.
That business and plan had been well vetted and if they had simply left the RuralCom CEO in place and had him raise the expansion capital that business would be generating $40-60M today instead of the paltry revenue reported in the latest Pink disclosures and financials.
Fast forward to today and these clowns are now talking about operating as an MVNO in Canada.
That will never get off the ground with Benoit Laliberte at the helm as he and Trevor-Deutsch have never built a business of lasting value and they know nothing about operating an MVNO in a highly-competitive industry.
I built the largest cellular resale business in the US so I know something about what it takes to be successful.
UAMA CEO guilty of FRAUDULENT MISREPRESENTATION?
1) US Pink-listed companies must file public disclosure documents.
2) Those Pink filing documents subject to SEC oversight especially when FRAUDULENT MISREPRESENTATION reported.
3) See following identical case:
Identical violations! Benoit Laliberte claims he had no prior criminal convictions within the past 10 years in the latest 2018-19 UAMA Quarterly Reports and Pink Disclosures. The evidence is clear he was found guilty on 44 of 48 counts of stock fraud, market manipulation and deceiving investors, with latest conviction in April 2009, clearly within the 10 year time period. UAMA Pink OTC market same as below and multiple violations so no accident.
If SEC took same action with UAMA that would mean:
a) permanent injunction, and
b) a civil monetary penalty, and
c) officer-and-director bar, and
d) a penny-stock bar.
That would effectively protect the public market and investors by preventing Mr. Laliberte from acting in any capacity for a publicly-listed company. Action is long overdue in bringing Mr. Laliberte to justice for his well documented and evidenced fraudulent misrepresentation.
In case of Mr. Laliberte the quantity and seriousness of past convictions could result in the filing of criminal charges which could result in jail time for Mr. Laliberte. According to other posts on this board (Bilal Khabab) Mr. Laliberte never paid his fine to Quebec, has been an undischarged (and undisclosed) personal bankrupt for over ten (10) years and failed to properly disclose $47M bankruptcy of Navigata-Westel and receivership of Investel Capital Corp. Expect the SEC to take all of this into consideration when they get around to appropriate prosecution.
All of this will be devastating to UAMA and shareholders. Like INELCO and TELIPHONE both revoked by SEC? Mr. Benoit Laliberte and Mr. Lawry Trevor-Deutsch both deeply involved in the pleadings for those failures.
caveat emptor - CAVEAT EMPTOR
Benoit Laliberte, CEO knowingly filed fraudulent Pink Reports!
Clearly fraudulent misrepresentation as Mr. Benoit Laliberte was convicted in 2008 and 2009 on 44 counts of stock fraud, market manipulation and deceiving investors.
UAMA filed fraudulent Pink reports in 2019 & 2018 and those Reports signed by Benoit Laliberte in his roles as President, CEO and CFO of United American Corp.
Benoit Laliberte, President, CEO and CFO of United American Corp (UAMA) claimed "NO" to questions on convictions within the past 10 years.
The evidence is clear (See 2019 Q1 & Q2 and 2018 YE Pink Quarterly Reports disclosure documents) and note responses to #8 of the Pink disclosure documents.
UAMA CEO knowingly filed fraudulent Pink Quarterly Reports!
Clearly fraudulent misrepresentation as Mr. Benoit Laliberte was convicted in 2008 and 2009 on 44 counts of stock fraud, market manipulation and deceiving investors.
UAMA filed fraudulent Pink reports in 2019 & 2018 and those Reports signed by Benoit Laliberte in his roles as President, CEO and CFO of United American Corp.
Benoit Laliberte, President, CEO and CFO of United American Corp (UAMA) claimed "NO" to questions on convictions within the past 10 years.
The evidence is clear (See 2019 Q1 & Q2 and 2018 YE Pink Quarterly Reports disclosure documents) and note responses to #8 of the Pink disclosure documents.
UAMA CEO knowingly committed fraud in SEC filing!
It's a fact:
- Benoit Laliberte signs as President, CEO and CFO of UAMA
- claims "no violations in past 10 years" in Pink report
- Court found him guilty v AMF in 2009 on additional 3 counts
So Mr. Benoit Laliberte did knowlingly commit fraud in these UAMA reports.
Complaints have been filed with the SEC.
UAMA CEO convicted criminal, bankrupt! Never forget!
He has been labeled as such by The Canadian Press. You can rest assured it is true as Mr. Benoit Laliberte has not filed suit against this news organization.
Mr. Benoit Laliberte is President, CEO & CFO of UAMA! All three positions held by Mr. Benoit Laliberte who was found guilty on 44 of 48 counts, stock fraud, market manipulation and deceiving investors.
What kind of a company has convicted criminal President, CEO and CFO? CAVEAT EMPTOR.
evidence:
"Montréal – In a decision handed down on April 28, 2009, Judge Richard Wagner of Superior Court (Criminal and Penal Division), district of Montréal, found Benoît Laliberté guilty of three of the four charges under an appeal launched by the Autorité des marchés financiers (AMF) in September 2008.
At the request of the AMF, the Court thereby quashed the acquittal verdicts issued by Judge Céline Lacerte-Lamontagne in February 2008 in respect of charges 6, 9 and 38. Specifically, the AMF succeeded in its appeal in respect of two charges related to an insider's obligation to report transactions within the time period prescribed by law and in respect of one charge related to making misrepresentations in a press release."
and more evidence:
Then there's the FAILURE to properly disclose material PERSONAL BANKRUPTCY to investors and in SEC filings. Evidence in CCAA Proceedings before the Supreme Court of BC produced the following:
Ask yourself, "What kind of company has convicted criminal CEO?"
Then ask yourself, "What kind of a company has a bankrupt CEO"
Caveat Emptor - CAVEAT EMPTOR - see OTC Markets - UAMA
Caveat Emptor! OTC Markets and AMF "sticky"!
OTC Markets still flying "skull & crossbones" over UAMA.
AMF Cease Trade Order still in place.
Decay within UAMA et al continues as management apparently running out of options.
Blockdome operations troubled and TNW Wireless has failed.
Lack of capital and convicted criminal CEO will destroy any upside.
UAMA is done, on life support, and with a really weak cash position.