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LOL Good old 07isback.
assuming that is urbans signature, and not a forgery, or
a clones signature,,,
All the sudden UC is found??????????
jimmy, I don't think Urban was ever lost! lol
yes, at least that's what people where posting a few years back.
Edit: I'm searching to see if it's true.
I thought you knew!
posted September 19, 2004 23:00 Click Here to See the Profile for tradingpennys Edit/Delete Message Reply w/Quote Here's some DD on Urban!!
.........................
Alberta >> Court of Queen's Bench >>
Citation: White Bear Construction Ltd. v. Casavant, 1999 ABQB 1013
Date: 1999-12-22
Docket: 9903-03107
URL: http://www.canlii.org/ab/cas/abqb/1999/1999abqb1013.html
White Bear Construction Ltd. v. Casavant, 1999 ABQB 1013
Date: 19991222
Action No. 9903 03107
IN THE COURT OF QUEEN'S BENCH OF ALBERTA
JUDICIAL DISTRICT OF EDMONTON
BETWEEN:
WHITE BEAR CONSTRUCTION LTD., KEN HODGSON
AND SHARON HODGSON
Plaintiffs
- and -
URBAN CASAVANT, ALLAN MOEN, MCM MINERALS INC.,
FULL TIME MANAGEMENT INC., AND PAN PACIFIC GEM
INDUSTRY (TIANJIN) CO., LTD.
Defendants
_______________________________________________________
MEMORANDUM OF DECISION
of the
HONOURABLE MADAM JUSTICE J.B. VEIT
_______________________________________________________
APPEARANCES:
Barry M. King
for the Plaintiffs
Gregory J. Leia
for the Defendants
Summary
[1] The defendants asks the court to lift the ex-parte attachment order the court issued on December 17, 1999; they argue that the plaintiffs have failed to comply with the requirements of s. 17 of the Civil Enforcement Act and that the plaintiffs have failed to file adequate undertakings in damages.
[2] The application is allowed in part. On an interim interim basis, that is until the hearing of the plaintiffs’ application for a pre-judgment attachment order on January 11, 2000, the ex parte injunction is set aside as it relates to Mr. Casavant’s spouse and children.
Cases and authority cited
[3] By the court: Rea v. Patmore [1999] A.J. No. 1168 (Q.B.); Osman Auction Inc. v. Belland [1998] A.J. No. 1443 (Q.B.); Canadian Engineering Surveys Co. v. Esso Resources Canada (1988) 89 A.R. 35 (M.) and cases discussed by Stevenson & Cote under R. 214(1).
1. Background
[4] The plaintiffs obtained an ex-parte attachment order on the basis of affidavits from Ken Hodgson, Frank Olson and Norm Sparks.
In his affidavit, Mr. Hodgson swears that:
- both White Bear and he in his personal capacity have advanced funds to the defendants Allan Moen and Urban Casavant which funds were to be repaid to White Bear;
- demand has been made for repayment, but no repayment has been received;
- the plaintiffs are owed $1,037,902.35;
- he is not aware of any assets of Moen and Casavant in Alberta other than a claim they have advanced against John Bergen for 130,000 shares and 65,000 warrants in Radar Acquisitions Corp. He states that he believes Moen and Casavant to be judgment proof;
- 85,000 shares of Radar Acquisitions Corp were traded on the 14th and 15th of December 1999 by brokerage houses normally used by Urban Casavant and Allan Moen;
- the list price for Radar Acquisitions Corp has dropped by more than $0.27 per share since December 14th;
- Urban Casavant and Allan Moen have engaged in a number of situations where stock listing prices have been manipulated including personal information of involvement in transactions involving Sepik Gold Corporation;
- Allan Moen obtained 130,000 shares and 65,000 warrants in Radar Acquisitions Corp. as a result of a private placement which became free trading in October, 1999;
- he is aware that several other investors have similar claims against Moen and Casavant.
[5] He swore that the plaintiffs were likely to be seriously hindered in the enforcement of any judgments that they would obtain in this action because the defendants are trading Radar Acquisitions Corp. shares in a pattern which will result in the disposition of the shares at less than their real value.
[6] In his affidavit, Frank Olson swears that Sky Rise Farms Ltd. has advanced $1,333,080.00 to Allan Moen and Urban Casavant, that the monies should have been repaid, and that although demand has been made for repayment, repayment has not been made. Mr. Olson also swears that he has been involved with Allan Moen and Urban Casavant for a number of years, and that he is not aware of any assets owned by them in Alberta.
[7] In his affidavit, Norm Sparks swears that Norsand Farms Ltd. has advanced more than $650,000.00 to Messrs. Moen and Casavant, which funds were to be repaid, and that although demand has been made for repayment, repayment has not been made. He also states that he has been involved with Messrs. Moen and Casavant for many years and that he is not aware of any assets owned by them in Alberta.
[8] In support of their application to have the ex-parte attachment order set aside, Urban Casavant and Allan Moen have sworn affidavits. In his affidavit, Mr. Casavant has sworn that:
- Ken Hodgson told him that he had purchased 600,000 shares of Sepik Gold Corporation for approximately $0.80 per share for a gross cost of approximately $480,000.00 He advised he sold the same shares for gross proceeds of $270,000.00. The alleged trading loss was approximately $210,000.00. Ken Hodgson asked to indemnify him for such losses and I agreed to provide the following consideration:
cheque $20,000.00
cheque $10,000.00
interbroker transfer from Arnold Guptka (IPO Capital) to
Canaccord in the name of Ken/Sharon Hodgson (60,000 shares
of Kincho Global Enterprises ($0.75 per share) and 50,000 shares
of Sepik Gold Corporation ($0.40 share) $100,000
100,000 shares of Radar Acquisition Corp. $ 80,000
[9] Mr. Casavant does not explain why he would agree to compensate Mr. Hodgson for the latter’s trading losses, but Mr. Casavant asserts that Mr. Hodgson never provided proof of such losses.
- On April 8, 1998, White Bear advanced to him $45,000.00 on behalf of Full Time Management Inc., a receipt for which is attached. I delivered to White Bear 100,000 shares of Sepik Gold Corporation at a value of $58,850. White Bear wrote a cheque to me for the difference being $13,850.00, a receipt for which is attached.
- In the spring of 1998, White Bear advanced to me the sum of $55,000. I delivered to White Bear 100,000 shares of Sepik Gold Corporation with a value of $55,000.00.
- On April 1,1998, White Bear advanced $37,450.00 to me on behalf of Full Time Management Inc., a receipt for which is attached. This was a debt of Full Time Management Inc. to pay for corporate staking. I was not to be personally liable for this indebtedness.
- On or about June 15, 1998, I signed an accommodation letter/promissory note in favour of White Bear with respect to the purchase by Pan Pacific of the 4 Chip Trailers. The accommodation letter/promissory note refers to $126,502.35 and 9,000 shares of Sepik Gold Corporation, a copy of which note is attached. I believe that this debt would have been retired upon the sale by White Bear of the 4 Chip Trailers.
- I attach a copy of my cheque #054 dated June 1,1998 in the amount of $190,000.00. Ken Hodgson never advanced $190,000.00 to myself.
- I attach a copy of my cheque #177 dated December 9, 1998 in the amount of $325,000.00. Ken Hodgson did not advance $325,000.00 to myself.
- I attach a copy of my cheque #178 dated January 7, 1999 in the amount of $230,000.00. Ken Hodgson did not advance $230,000.00 to myself.
- I provided the plaintiffs with five blank cheques as sign of good faith that debts for which I was personally responsible would be paid. Two cheques were used to pay out the first transaction relating to the trading loss. The remaining three cheques were completed by the plaintiffs without my authorization.
[10] Mr. Casavant also swears that a corporation owned by his children, Team Trading Enterprises is owed at least 800,000 shares of Radar Acquisition Corp having a market value of $2,040,000, and his spouse is owed at least 300,000 shares of Radar, having a market value of $700,000.00 and his brother-in-law Eric Reid is also owed at least 300,000 shares of Radar.
[11] In his affidavit, Mr. Moen swears that:
- he agreed to sell to White Bear a 5% interest in Pan Pacific if White Bear made a loan of approximately $150,000 to $175,000 to Pan Pacific. White Bear made the loan by assigning its equity in a 1994 Peterson Pacific Chipper Model - with a market value of $450,000 - for $1.00 and assumption of the existing lease financing to the Bank of Nova Scotia, Prince Albert, in the amount of $300,000.00, and attaches the bill of sale signed by Pan Pacific and White Bear. On April 15, 1998, Pan Pacific sold the 1994 Peterson to Wajax Industries Ltd. for $450,000.00 plus GST, and attaches a letter outlining the terms of sale. The Bank of Nova Scotia financing was paid out on sale. The net sale proceeds of $170,000 inclusive of GST would have been owing by Pan Pacific to White Bear.
- on June 8, 1998 White Bear sold to Pan Pacific four trailers for $150,000.00 plus GST, and attaches a copy of the bill of sale. Although the document states that the sale price was $200,000.00, the sale price was to be $150,000.00. Also, although the document sates that the purchase price was paid in full no payment was made to White Bear. The changes were made to the documents to obtain financing from Sky Rise Farms Ltd. Urban Casavant and Pan Pacific jointly made a promissory note in favour of Ken Hodgson and Pan Pacific jointly for $150,000, and attaches a copy of the promissory note. There were two additional notes granted at the same time, one for $30,000.00 made by myself to Ken/Sharon Hodgson, a copy of which is attached, and one for $126,602.35 and 9,000 shares of Sepik Gold Corporation. The latter note represents the difference between $150,000.00 plus GST less the $30,000.00 from Urban Casavant. On June 15, 1998 Pan Pacific obtained a mortgage on the 4 Chip Trailers from Sky Rise Farms Ltd. (Frank Olson) in the amount of $150,000.00, and attaches a copy of the General Security Agreement. Only $120,000.00 was advanced by Sky Rise Farms Ltd. and the remaining $30,000.00 represented loan fees. White Bear received $30,000.00 from the loan proceeds in satisfaction of Urban Casavant’s note. On June 15, 1998, Pan Pacific sold the 4 chip trailers to Sky Rise Farms Ltd. On June 15,1998, Sy Rise Farms Ltd sold the 4 chip trailers to White Bear for $150,000.00 plus GST, and attaches a copy of the bill of sale. Throughout this period, White Bear retained possession of the 4 chip trailers. I was advised by Frank Olson that White Bear has sold the 4 chip trailers and retained the proceeds and has not accounted for the sale proceeds. The sale proceeds would have been applied against the $126,602.35 note. As far as I am aware, the only person who is out of pocket on this transaction is Sky Rise Farms Ltd. for their loan proceeds.
- White Bear agreed to purchase from Pan Pacific 100,000 shares of Sepik Gold Corporation for the sum of $55,000.00, and attaches the receipt.
- In August, 1999, I personally pledged 150,000 shares of Radar Acquisition Corp which I received from John Berger in July of 1999 to White Bear to secure the indebtedness of Pan Pacific to White Bear. The market value of those shares on December 17, 1999 was $382,500.00 ($2.55 per share). White Bear has not advised if they remain in possession of these shares and/or if sold White Bear has not accounted to Pan Pacific with regard to the sale. [Mr. Moen does not attach any documentation in support of this contention.]
- White Bear bought a 7% interest in Full Time for $35,000.00 on March 24, 1999 with a right to acquire an additional 7% for $35,000.00, and attaches a copy of the agreement. MCM signed a promissory note for the $35,000.00 advanced on March 24, 1998 and attaches a copy of that note. [There appears to be a write-over on the document attached. However, in the production of records from the plaintiffs, there is a copy of a document from MCM Minerals Inc. which appears to relate to this transaction and which is dated March 24th, 1998.] On April 1,1998 White Bear advanced $37,500.00 to Urban Casavant and attaches a copy of the receipt signed by Casavant on behalf of Full Time.
- At no time did I personally borrow funds from White Bear, Ken Hodgson and/or Sharon Hodgson. I agreed to sign the note of June 15, 1995 for $30,000.00 from Urban Casavant to Ken/Sharon as additional comfort for the $30,000.00 debt owing by Pan Pacific which was paid. Until White Bear accounts for the 150,000 shares of Radar Acquisition Corp it holds as lender, I cannot reconcile whether there are any funds owing by Pan Pacific to White Bear.
- I have an action against John Bergen for delivery of 300,000 shares of Radar Acquisition Corp. with a market value of $700,000.00. These shares are subject to litigation in which the solicitor for the applicant plaintiffs is the solicitor for the defendant John Bergen. John Bergen and one of the plaintiffs in this action, Ken Hodgson, are directors of Radar Acquisition Corp.
[12] White Bear and Ken Hodgson and Sharon Hodgson have provided an affidavit of documents which essentially contains the same documents as the documents appended to the affidavits of Moen and Casavant. There is no document from White Bear evidencing advances of $190,000.00, $325,000.00 and $230,000.00 to Urban Casavant.
[13] The plaintiffs/claimants have not provided any evidence about the Moen - Casavant pattern of trading in Radar Acquisitions Corp.
[14] This action was commenced in February, 1999. In July, 1999, at the request of the defendants, Master Floyd ordered the plaintiffs/claimants to file an affidavit of documents. The plaintiffs have not yet examined the defendants on discovery.
[15] The defendants assert that they have provided the plaintiffs with their complete stock trading records to July 1999.
[16] The defendants allege that the transactions that give rise to the claim in these proceedings arose out of a decision in June 1998 to acquire the shares of Radar, basically a dormant shell that owned some ammonite properties in northern Saskatchewan, to use as a structure to develop a mining venture in northern Saskatchewan. A group of investors agreed to buy the control block of Radar from John Bergen. The agreements were that Bergen would transfer 2.5 million shares to 5 individuals, who did not include Urban Casavant, but did include Casavant’s wife, children, brother-in-law, and Ken Hodgson. The consideration paid for the shares at that time was 4 cents a share. According to the defendants, at the end of July 1998, the first payment on the Bergen block was made, and half the shares in the Bergen control block were delivered. The defendants allege that when the stock of Radar increased from 10 cents to 80 cents a share, all the new owners of the control block wanted to do a private placement in Colorado. They then allege that the relationship among the members of the control block broke down in late 1998. The defendants allege that there was an informal pooling arrangement in place pursuant to which all members of the group would wait for the stock to reach $10.00 per share before selling any. The defendants allege that not all parties respected the pooling agreement, some sold their shares into the market, and the allegations and counter allegations began.
[17] The defendants allege that, during the trading history of Radar, the stock has dropped in increments greater than 27 cents a share.
2. Statutory and jurisprudential requirements to obtain a pre-judgment attachment order
[18] As pointed out in earlier decisions, because pre-judgment relief is extraordinary, a court is not bound to grant that relief even if an applicant satisfies all of the statutory conditions.
[19] The statutory conditions are found in s. 17 (2) of the Civil Enforcement Act:
- there is a reasonable likelihood that the claimant’s claim against the defendant will be established. (It will be noted that this is a substantially higher threshold that the requirement for an interim injunction which is only that there is a serious issue to be tried.); and
- there are reasonable grounds for believing that the defendant is dealing with the defendant’s exigible property,
- otherwise than for the purpose of meeting the defendant’s reasonable and ordinary business or living expenses, and
- in a manner that would be likely to seriously hinder the claimant in the enforcement of a judgment against the defendant.
[20] The Act also provides in s. 17(4) that the court shall not grant an attachment order unless the claimant undertakes to pay any damages or indemnity that the court may subsequently decide should be paid to the defendant or a third person and the court could require the claimant to provide security for the undertaking.
[21] In section 17(5), the Legislature has ordered that an attachment order shall not attach property that exceeds an amount or a value that appears to the court to be necessary to meet the claimant’s claim.
3. Applying the statutory and jurisprudential standards to this case
[22] On the basis of the material filed on this application, the plaintiffs have not established that there is a reasonable likelihood that the entirety of the claimants’s claim against the defendant will be established. The standard established by the legislation is a high one, but the relief requested is extraordinary.
[23] The plaintiffs have established that there is a reasonable likelihood that they will establish their claim against:
- Pan Pacific for $170,000.00, inclusive of GST, in relation to the dealings in the Peterson Pacific Chipper;
- MCM for $35,000.00 advanced on March 24, 1998;
- Urban Casavant for $37,500.00 advanced on April 1, 1998, on behalf of Full Time;
- Urban Casavant for $126,502.35 for the promissory note relating to the purchase by Pan Pacific of the 4 chip trailers.
[24] Indeed, the Statements of Defence filed in this lawsuit acknowledge that the defendants owe money to White Bear.
[25] The plaintiffs have not established that they have any claim against Urban Casavant’s spouse, or brother-in-law Eric Reid, or the Casavant children who are the owners of Team Trading. Property owned by those persons cannot, on the basis of the evidence provided on this motion, be attached since they do not owe White Bear or the Hodgsons any money. In this context, I note that the submissions made during the course of the hearing establish that Ms. Casavant, Eric Reid and Team Trading all became the legal owners of shares of Radar Acquisitions Corp. long before the plaintiffs claimed any debt against the defendants; therefore, whatever else this case may be, there is no evidence at this stage that Mr. Casavant has traded away shares that he owned to his wife, his brother-in-law and his children with a view to avoiding his debts to the plaintiffs.
[26] The plaintiffs wish to use the evidence of Mr. Moen on his cross-examination on affidavit in another action to establish that Mr. Casavant’s children have given Mr. Casavant authority to trade those shares. There is a question about whether the plaintiffs are entitled to use that evidence, obtained in another proceeding, in this lawsuit, except, obviously in the cross-examination of any of the affiants or to test the credibility of the defendants on discovery: Canadian Engineering Surveys. The weight of the jurisprudence appears to be that a statement made in another proceeding cannot be used for the truth of its contents, but only for the purpose of testing credibility. In this case, of course, although the action was commenced in February 1999, the plaintiffs have not yet examined Mr. Moen. In any event, however, even if Mr. Moen’s sworn statement in another proceeding could be used for the truth of its contents in this proceeding, the statement would not assist the plaintiffs. The mere fact that Mr. Casavant can trade shares owned by Team Trading does not mean that he is the beneficial owner of the shares legally owned by Team Trading.
[27] The plaintiffs have not provided any explicit evidence to establish that the recent trading in Radar Acquisitions Corp. is outside the normal course of business. The absence of such evidence is, of course, fatal to an application for a pre-judgment attachment order. However, since the submissions at the hearing including a submission that, during the last 90 days the stock has traded as high as $4.00 a share, the sale of 85,000 shares by insiders over a two day period may indeed be outside the normal course of trading of the stock. The plaintiffs have, therefore, barely established the minimum evidence required to meet the statutory requirements for the relief.
[28] The plaintiffs have asked for an adjournment to allow them to cross-examine Messrs. Casavant and Allan Moen on their affidavits. They can have an adjournment, of course, but they cannot keep the ex-parte attachment order in place during the adjournment
[29] There is no documentary support for the plaintiffs’ assertion that they, or any of them, advanced over $1,000,000.00 to defendants, or any of them. There is no suggestion, except as specifically acknowledged in the affidavits of Messrs Casavant and Moen that Mr. Casavant’s spouse, or children or brother-in-law guaranteed any of the corporate debts to the plaintiffs. The fact that Mr. Casavant may have trading privileges in relation to stock legally owned by his spouse, his children and his brother-in-law is not the equivalent of concluding that Mr. Casavant is the beneficial owner of the shares in the hands of his spouse, his children, and his brother-in-law.
[30] The plaintiffs have not had the time to answer the claim from Mr. Moen that shares have been deposited as security for any outstanding indebtedness. It is clear, however, than one of the issues that will have to be addressed when the matter is heard next month, is the issue of the claimed security. The Act states that any attachment order should be as narrow as possible. If shares were pledged as security for the outstanding debt, the security might constitute a full answer to the plaintiffs’s claim.
[31] Section 17 of the Act requires, at a minimum, that the applicant for a pre-judgment attachment order establish that proceedings have been commenced in Alberta to establish his claim. Mr. Hodgson swears that he believes that many other claims are being made against the defendants. The affidavits from Olsen and Sparks support that contention. However, making a claim, and establishing that a claim is reasonably likely to be established, are two different things. Messrs. Olsen and Sparks have just commenced legal proceedings; they don’t have judgments. The Civil Enforcement Act appears to address the enforcement of well established claims; it may be that where a creditor is concerned about a debtor’s ability to meet claims as they become due, which may be a slightly different concept from that of not honouring proved claims, the creditor’s remedy is found in bankruptcy legislation. On this interim application, I do not take the evidence of Messrs. Olsen and Sparks into account.
4. Adequacy of the undertaking
[32] White Bear and Ken Hodgson filed undertakings in damages; Sharon Hodgson has filed no such undertaking.
[33] It is a small point but Sharon Hodgson, as one of the plaintiffs in this matter, and one of the claimants, is required to file an undertaking in order for the plaintiffs to technically comply with the statutory prerequisites for obtaining an attachment order.
[34] One of the issues that will be decided at the hearing on the merits is whether the plaintiffs should be required to give security for their undertakings. The parties will find some authority on this issue under the heading “fortifying an undertaking”.
5. Adjournment
[35] White Bear’s application for an attachment order is adjourned to a Special Chambers hearing on January 11, 2000 at 2 p.m. Given the need to have a hearing on the merits as soon as possible on the one hand, and the exigencies of having the affiants cross-examined on their affidavits during the holiday season on the other, the parties are relieved of the obligation to file the ususal special chambers brief. In lieu of such briefs, each party will provide the equivalent for this application of a family law special chambers letter - i.e. a short document that outlines the issues the court will have to decide and the statutory and case law on which the party applies. The plaintiffs/claimants will have carriage of the hearing on January 11. All parties will cross-examine any of the affiants they choose to cross-examine prior to the next court hearing. The plaintiffs/claimants will provide their short outline of the application to the defendants at the latest by noon on Thursday, January 6, 2000; the defendants/respondents will provide their short outline of their position to the plaintiffs at the latest by 4 p.m. on Friday, January 7, 2000
6. Costs
[36] The costs of this hearing will be dealt with by the judge who hears the special chambers hearing on January 11, 2000. By then, it will be clear, for example, whether shares
were placed with the claimants as security for outstanding indebtedness, and the resolution of that issue is likely to have an impact on the award of costs.
HEARD on the 21st day of December, 1999.
DATED at Edmonton, Alberta this 22nd day of December, 1999.
__________________________ http://www.canlii.org/ab/cas/abqb/1999/1999abqb1013.html
http://216.109.125.130/search/cache?ei=UTF-8&p=frank+olson+urban+casavant&fr=yfp-t-501&u=www.allstocks.com/stockmessageboard/ubb/Forum8/HTML/008861-26.html&w=frank+olson+urban+casavant&d=btOaHPH_QjB4&icp=1&.intl=us
He posted his SEC comment on the message boards three weeks and it's still not on the site. I guess he decided not to submit it.
whether it makes any sense or not. Some will say this qualifies in that category
I have to agree with him there. lol
A lot of people here are under the impression that they have everything figured out about this scam. But unless you have met or spoken to Urban Casavant, you wouldn't be aware that he's not mastermind material for this complex of a fraud
Nobody here believes Urban is a Mensa member, or a mastermind. It is quite clear what Urban's role was, the front man, carnival barker that lured investors in with the charm of an old fashion snake oil salesman. His performance was so convincing that he amassed a cult following that now believes he is a victim of "the system" just like they are. Even though he helped rob them blind.
CMKX, his past with Petro Plus and dealings with other know scammers is enough for the SEC to ban him from serving as an officer for life in penny stocks. He's not only unqualified but, too dishonest to ever have his hands on investors money again.
As for the mastermind, if Urban's stupidity, greed and addictions help enabled that network to finally be brought down that's wonderful, imo (added for h24ever).
[6] In his affidavit, Frank Olson swears that Sky Rise Farms Ltd. has advanced $1,333,080.00 to Allan Moen and Urban Casavant, that the monies should have been repaid, and that although demand has been made for repayment, repayment has not been made. Mr. Olson also swears that he has been involved with Allan Moen and Urban Casavant for a number of years, and that he is not aware of any assets owned by them in Alberta.
Then they did a 10 day suspension to make sure everyone knew that something was wrong here. And still people ignored them. Then they took CMKX to court and the judge revoked CMKX's registration. And even then, some people were still buying this scam from Delidog. How many times do they have to beat people over the head to warn them?
Investorman, you know if CMKX was still trading today the true longs would be posting this is the best time to buy, after the complaint was official out. Sadly, I have seen this too many times before.
Are these guys finally going down?
Hey, Susie924! You'll find Jarta's post interesting about the PCBM/ECNC folks. There's also a lawsuit by BMTD/BMTE/BMCS that the CEO claims there is an ongoing investigation of Turino and company.
Very interesting! Paragraph 39(c).
"Also in February 2003, the company issued 202 million purportedly unrestricted shares "relating to the 1999 financing" pursuant to board minutes signed by "Ian McIntyre, Trustee." These shares were issued to six individuals or entities linked to Edwards, at least two of whom had no involvement with CMKM or its predecessors in 1999."
The only people I remember who had "1999 financing" put next to their name in Pedro's summaries are Harlan and the LoCastros and, on some later issuances, the Chris Jensen crew. ... eom
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28279778
Well gee, that was easy. Didn't even have to TRY to serve him....
Piece of cake! Maybe your tips came in handy, too. LOL
Bill needs to change his name from Bulldog to Bloodhound, or maybe he doesn't have any intention to serve Urban afterall.
Janice, how about giving this gentleman a call?
jjcbcradio
Shipwright
*****
member is offline
Joined: Apr 2008
Posts: 3
Karma: 0
Re: U.S. SECURITIES AND EXCHANGE COMMISSION vs. CM
« Reply #115 on Today at 1:24pm »
Hi, it's JJ Lee of CBC Radio in Vancouver. I work for Sounds Like Canada. On Monday, we're taping an interview with Mark Faulk about the company and the charges. It'd be great to speak with a Canadian investor (Saskatchewan-based would be nice).
If you are one, please consider calling me today (Friday) at 604-662-6360. I'd like to speak with you about your experience. Thanks...sorry I posted a related missage on another thread but this seems to be the most active. Cheers. JJ
http://cmkxdiamond.proboards66.com/index.cgi?action=display&board=general1&thread=1207592673&page=8#1207949048
Courtesy of nufced
Thanks Nuf!
"He's totally wrongly accused," Casavant's brother Victor said from his home in Vegreville, Alta. on Thursday.
He refused to comment further on the case.
Victor Casavant was sanctioned in Alberta in 1995 for improperly distributing securities from his company Striker Minerals Ltd. He returned $60,000 to one shareholder and paid a $1,000 fine.
Two peas in a pod!
The Party must have been worth attending. I'm sorry I missed it.
The play by play on the internet chat rooms provided plenty of entertainment.
I think a movie treatment would be difficult
People sitting in front of computers typing don't make for gripping visuals.
I agree with all but the party and the funny car races. So much went on that night at the party. Roger Glenn missed it by not coming out of his hotel room. lol
Edwards will flee and has the money to do so .. before he goes to jail
I wonder how many aliases Edwards has, and how many stocks he may have been involved with? I bet the money trail on him is a real challenge.
He's a British citizen to boot!
true, guess we could try and find a few Channelers in the art of Necromancy
ROFL Maybe INES's psychic can help. I'm sure Gayle would be flattered by the attention. Heck, I'll even download PalTalk if they pipe into INES's room.
Maybe they'd have done better to interview some of the "bashers" who knew this was a scam from the get go.
One thing I like about Lee, he gets down into the trenches to get the real scoop.
Rather than Faulk, who fell for Urbie's nonsense hook, line, and sinker.
Faulk has a book to tout, he's going to be playing the role of media whore for awhile.
Here is more from that old PalTalk conversation.
Author Topic: Very-Tired ...... Paltalk 9/23/05..... (Read 96
times)
imSINGLEruRICH
Diamond Wiz (Moderator)
DIAMONDS ARE A GIRL'S BEST FRIEND !!
Joined: May 2005
Gender: Female
Posts: 1,251
Location: New Jersey
Very-Tired ...... Paltalk 9/23/05.....
« Thread Started on Today at 9:06pm »
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this is from paltalk.... very interesting but remember it must be
treated as rumor !!
1:25 AM) very_tired1: If I can close my escrow next week before it
happens, I am going to double my position
(1:26 AM) very_tired1: I hear it is literally anytime...
(1:27 AM) very_tired1: there will be a big anouncement anytime... //
yes...
(1:28 AM) very_tired1: I had an interesting experience.... I was the
attorney representing a client at an SEC deposition regarding
SGGM... it was very interesting how the SEC is dealing with Urban...
(1:29 AM) very_tired1: kid gloves...
(1:29 AM) very_tired1: almost as if they "had his back"
(1:29 AM) very_tired1: almost as if they were told to leave him alone
(1:29 AM) very_tired1: hard to say.. probably in time
(1:31 AM) very_tired1: they know of the fact Urban spent a lot of
money on his own personal fun.. and it seems as if they don;t seem
to care
(1:31 AM) very_tired1: which is in line with the hope that there is
a settlement and the SEC is involved
(1:33 AM) very_tired1: don't know if they will halt it.. the best
thing to see for the halting of SGGM is looking at the fact they did
not file.. and the public action by the SEC against the company
(1:36 AM) mccurdydon: http://cmkxdiamond.proboards32.com/index.cgi?
board=general&action=display&thread=1127335553
(1:36 AM) *** konga66 has left the group ***
(1:37 AM) very_tired1: The monetary settlelement amount? Could be
anything from .05 to $1.76.. those are the figures I have seen
tossed about
(1:41 AM) very_tired1: Zman.. the money will come from the offshore
hedge funds.. as well as domestic brokers, their insurance policies,
bonds, and from the DTCC who I believe will cover the rest
(1:46 AM) very_tired1: Urban in CHina.. I will bet it deals with oil
sales.. jmho though
(1:46 AM) very_tired1: my opinion? I believe cHINA WITHDREW ITS
OFFER TO PURCHASE uNOCAL BECAUSE THE us AGREED TO SHARE SOME OF THE
OIL WITH CHINA...
(1:49 AM) very_tired1: I think China used the purchasing of Unocal
as a tool of leverage to force the USA to share this oil find with
them
(1:52 AM) very_tired1: I believe Mahue was here for 2 big reasons..
1 was to deal with the NSS situation.. the second was to insure that
the US got control of the Uranium and Oil (the Uranium for nat'l
security reasons).. but CHina wanted some of the oil.. used the
Unocal deal as leverage
(1:52 AM) very_tired1: so the US cut them in
(1:53 AM) very_tired1: I believe that the last thing Bush wanted was
China owining a huge US oil company
(1:54 AM) very_tired1: THe SEC is not gong after Urban.. in my
opinion.. I listened to depositions about Edwards, Harlan and
others.. Urban's name came up but they hardly touched him
(1:55 AM) very_tired1: Not too good of things...
http://www.st-luke.org/downloads/Alan%20Very_tired.doc
« Last Edit: Today at 9:08pm by imSINGLEruRICH »
Porky pig doesn't have a clue whats going on. he may think he does, and he would love for people to believe he does, but i cannot imagine that he knows diddly about squat.
I agree. He's always wrong and when he does get something right it's when the facts are already widely known. Then he wants to take a bow as if he was on top of things all along.
I guess we won't know who his second client was until/if the SEC publishes the depositions.
Well atleast someone will make maybe millions off of cmkx
LOL I don't know about millions. Lots of folks talk to movie people. Getting the financial backing is another matter.
Hey, I wonder by "movie people" he means Fuego Entertainment? They already have a leg up on the Urban Casavant story. lol
by faulkingtruth
Major Opportunity Missed.......
Reply #11 on Today at 1:37pm
I've been on the phone all day today and yesterday doing interviews...I sent the picture of Urban that's plastered all over Saskatchewan.
It's a Catch-22 situation...if the book was out, it would be missing the news about the SEC charges, which is huge. As it is, I am adding that bit of the story and sending it back in on Monday morning. The delay is worth it, IMO.
And the news is just beginning. I expect a lull after the next day or two, and then another wave when the book is released or criminal indicments are issued.
And we're talking to movie people as well.
This story should at least serve as a cautionary tale to show people how ugly the penny stock markets can be, and how little regard for investors the federal agencies have.
http://cmkxdiamond.proboards66.com/index.cgi?board=general1&action=display&thread=1207846873
Comment by West http://www.cmkmdiamondsinc.com/index.html
4-10-08
Dear Shareholders,
On Monday, April 7, 2008 the Company was served with a lawsuit from the Securities and Exchange Commission. The SEC is seeking injunctive relief and disgorgement of profits from numerous parties who were involved with the Company in the past. At the time this lawsuit was filed, I was out of town on Company business and was not able to return to the office until this morning. As you can well imagine, there are many sensitive issues that must be discussed with our corporate legal counsel and with the SEC before any official statements can be released to the public.
At this time the Company stands firmly behind the findings of the SEC as they are explained in the lawsuit. Since I was appointed sole officer and director in March of 2007, the Company has cooperated fully with the SEC investigation and I look forward to continuing this relationship.
As documents and other information become available for release to the public, we will post them on the Company website.
Sincerely,
Kevin West
CEO, President & Chairman
I think you can count on "The Naked Truth" being delayed once again.
LOL Already happening.
Re: SEC Charges 14 in $64 Million Penny Stock Scheme
by faulkingtruth
Reply #52 on Apr 7, 2008, 8:05pm
NO, but I have an awesome side story that goes with the announcement of the charges being filed. I can't tell it now, but I'm trying to get permission to sneak it into the book.
STOP THE PRESSES!!!!
http://cmkxdiamond.proboards66.com/index.cgi?board=general1&action=display&thread=1207592583&page=4
ROFL djzzzz was right! Proof that someone was peeking into her bedroom window and taking photos!
Mr. Casavant recruited former FBI agent Robert Maheu, once Howard Hughes' right-hand man, as co-chairman, even though he was nearly 90 years old at the time.
IMO, this is Maheu's worst fear, that his name will be plastered all over the media in connection with this scam.
No Perp Walk.
Now NSDM-forever, you know the SEC has no authority to bring indictments against security violators.
Just the SGGM $10 mill. and the shenanigans at Silver State Bank are enough red flags for the DOJ to investigate Urbie, and IF Urban used shareholders money to help fund his own personal trading accounts..........oops
Mr. Faulk said he has learned the Federal Bureau of Investigation, Internal Revenue Service and the U.S. Department of Justice are also investigating the case, so criminal charges could be laid in the U.S. in the future.
UC will kill himself before he ever goes to jail.
I doubt Urban will put his family through that.
I think he is becoming a loose canon
He really needs to take it down a few notches.
by Mark Faulk
As long as they are talking about us...it will keep building!
I think you're right, jimmy. The Alberta Securities Commission hearing was scheduled for today, so more stories about CKMX will surface. Here's Faulk's latest.
Better Late Than Never…SEC Files Charges in CMKX Case
by Mark Faulk
Three and a half years after the company was delisted, and over two and half years after the NASD filed charges against NevWest Securities in the same scam, the SEC charged 14 individuals in the CMKM Diamonds fiasco. Although thousands of shareholders were jubilant over the news, for many it seemed to be a case of too little, too late, and raised many questions about who wasn’t charged and why it has taken the SEC so long to bring charges in this case.
On September 9, 2006, an attorney representing a group of thousands of CMKX shareholders sent a letter to the company asking that they take action against six individuals and one company who he claimed illegally sold hundreds of billions of shares of stock to unsuspecting shareholders. In his letter, Bill Frizzell cited 36 trading accounts set up by John Edwards at NevWest Securities, both of whom were charged by the SEC yesterday. He also named CMKX attorney Brian Dvorak, CEO Urban Casavant’s secretary Ginger Gutierrez, and James Kinney, who received billions of shares of company stock, in the first of two shareholders’ derivative rights letters that Frizzell would pen. Edwards, Casavant, Dvorak, Gutierrez, Kinney, and NevWest (along with three individuals from NevWest) were among those charged by the SEC yesterday, along with Edwards’ associates Kathleen Tomasso and Anthony Tomasso and transfer agent Helen Bagley. Bagley’s company First Global Securities and CMKM Diamonds were charged as well.
Although the charges said that Edwards, Casavant, and their cohorts pocketed “at least $64.2 million” in the scam, estimates based on the average price of stock at the time that it was sold show that over 50,000 CMKX shareholders were defrauded of an estimated $250 million dollars. It is one of the largest financial scams in the history of the stock market.
Notable on the list of those who weren’t charged was another company attorney, former SEC attorney D. Roger Glenn, who wrote opinions letters that allowed hundreds of billion shares to be sold into the market based on little more than Brian Dvorak’s claim that the issuances were legitimate. Glenn was named by Frizzell in a second shareholders’ derivative rights letter on March 26, 2007 as another individual who defrauded shareholders. A soon to be released book about the CMKX saga, entitled The Naked Truth: Investing in the Stock Play of a Lifetime, discusses Roger Glenn’s involvement in CMKX:
Bill Frizzell laid out his case against the man who most shareholders had heralded as a savior to the company when he came on board in June of 2004. It was the trumpeted entrance of Glenn that almost single-handedly triggered the massive price run that sucked in thousands of shareholders when the stock rose over a thousand percent in a matter of days…and then dropped back to its original price of one one-hundredth of a cent. He ended his list with the most damning fact of all, that “Mr. Glenn had authored 11 opinion letters in a three-month period resulting in the issuance of 300 billion plus shares,” which were immediately sold to thousands of unsuspecting shareholders by John Edwards, David DeSormeau, James and Jeannie Kinney, and a host of others.
Another individual who wasn’t charged by the SEC was former CMKX Chief Financial Officer David DeSormeau, who was singled out in Frizzell’s first letter and later sued by the current company and its new CEO, shareholder Kevin West, who was named to take over just before Urban Casavant fled to Canada. The Naked Truth discusses DeSormeau’s involvement and comments by yet another company attorney, Donald Stoecklein, during the May 10, 2005, SEC hearing to delist CMKX:
Based on an average selling price at the time, David DeSormeau would have “earned” somewhere around $30 million from the sale of the more than 92 billion shares issued to his companies. It was an incredible amount of compensation considering that in return the company got, as Stoecklein phrased it during the SEC hearings, “25 sheets of paper that is merely shareholders’ equity.”
Among the others who shareholders feel should have been named by the SEC include convicted felon Michael Williams, U.S. Canadian Minerals CEO Rendal Williams (who has reportedly fled to Switzerland), Nevada Minerals president Ed Dhonau, and Casavant associate Emerson Koch, who made millions for simply holding the claims to the 1.9 million acres of mineral claims that were used to entice prospective shareholders to invest in the company. The SEC has still not addressed charges that brokers failed to deliver hundreds of billions of shares of stock in addition to the 703 billion shares that company insiders dumped.
CMKM Diamonds under the direction of Kevin West and Bill Frizzell has filed lawsuits against DeSormeau, John Edwards, Urban Casavant, Michael Williams, Brian Dvorak, James Kinney, Ginger Gutierrez and others. They are working to recoup money stolen from the company and have plans to widen their net to eventually include everyone who they believe defrauded the tens of thousands of CMKX shareholders.
Brian Pugh of the DOJ wouldn’t comment on a joint investigation into CMKM Diamonds by the FBI, the DOJ, and the IRS. He said that any criminal investigation within those departments would have to originate from a grand jury. However, the Faulking Truth confirmed the ongoing investigation in an interview with FBI agent Ryan Randall in September of 2007.
The SEC press release left the door open to additional action by ending with the statement: “The SEC’s investigation is continuing.”
Shareholders can only hope that eventually, all of the major players in the CMKX scandal will face both civil and criminal charges, as well as lawsuits filed by the company itself.
And that, as always, is the Faulking Truth.
(Editor’s note: We will present a special two-hour edition of The Faulking Truth Show on www.toginet.com this Friday, April 11th, from 9-11 AM CST. Listeners are welcome to call in to the show on our toll free number at 1-877-864-4869. TogiEntertainment will conduct a drawing from among the show’s callers to give away six autographed copies of The Naked Truth: Investing in the Stock Play of a Lifetime. The book, authored by stock market reform advocate and writer Mark Faulk, has been updated to include this week’s events, and will be released sometime in May. The Naked Truth: Investing in the Stock Play of a Lifetime is available for pre-order at www.togientertainment.com )
To read additional excerpts from The Naked Truth: Investing in the Stock Play of a Lifetime, go to:
http://www.faulkingtruth.com/Articles/Investing101/1080.html
http://www.faulkingtruth.com/Articles/Commentary/1078.html
To read the SEC complaint in its entirety, go to:
http://sec.gov/litigation/complaints/2008/comp20519.pdf
I was waiting for John Smith's article to come out. This is my favorite part.
And that often meant investors eventually poured good money after bad as they chased their dream of riches glittering from the Great White North like some penny stock aurora borealis.
They didn't, however, take a shine to my reporting. I long ago lost count of the number of CMKM investors who called to rip me to pieces after reading a column that dared to call into
question Casavant's motives.
http://www.courthousenews.com/2008/04/08/_center_Those_Pennies_Add_Up_center_.htm
Those Pennies Add Up
LAS VEGAS (CN) - Eleven people took more than $64 million from 40,000 suckers nationwide by selling 622 billion unregistered, illegally issued shares of CMKM Diamonds, the SEC says in a federal lawsuit. CEO Urban Casavant and cronies pushed the stock through bogus press releases, on the Internet and at Funny Car races across the country without revealing that Casavant ran the company from his Las Vegas home and that "CMKM's primary activity was to issue and promote its own stock," the SEC said.
The "mastermind" of the penny stock scheme was John Edwards, then of Las Vegas, the SEC claims. It said Edwards made $26.4 million from selling the stock at "well under a penny a share," and Casavant made $31.5 million from it.
Others in the ring profited to the tune of $6.3 million, according to the SEC complaint.
The ring's profits come to 6.4 billion pennies - roughly 4.5 percent of the pennies in circulation.
The 11 individual and three corporate defendants issued 622 billion shares, "based in large part on both written authorizations and attorney opinion letters prepared by Brian Dvorak, CMKM's lawyer, which were often inadequate, suspect, and inconsistent," the SEC says.
Based on these faulty documents, CMKM's transfer agent, 1st Global Stock Transfer, and its owner, Helen Bagley, issued "stacks of certificates," the SEC says.
Edwards' cohorts, Kathleen and Anthony Tomasso, and Casavant's cronies, James Kinney and Ginger Gutierrez, then deposited the shares with broker-dealers for sale, the SEC says. It claims NevWest Securities Corp. and its employees Anthony Santos, Sergei Rumyantsev and Daryl Anderson sold more than 259 billion shares of CMKM, "despite numerous red flags indicating a massive unregistered distribution."
No matter how this goes down, It will never end for some
The SEC is still investigating, so I hope not. ;)
Maybe Mt. St. Helens is about to erupt again! lol
If you would spend more time HERE instead of galivanting all over creation in the basher copter looking for new hooter locations..we wouldn't have a problem..now would we??
ROFL
jimmy, pantherj told Kingpin he was using the basher copter to search all Hooters locations for Rufus. Are you suggesting he has another motive? hmmm
I'm sure that will get Mr Cox to be pleasantly disposed to their cause
I think a Secret Service Agent is about to receive a new assignment.
Mr. Anonymous is WAY out of control now! Is this an agoodbadgirl groupie?
http://www.sec.gov/comments/s7-08-08/s70808-270.htm
http://www.sec.gov/comments/s7-08-08/s70808-273.htm
RE: "The World Will Know About CMKX"
More articles added
SEC Charges Fourteen Defendants In Scheme To Issue And Sell Unregistered CMKM Diamonds Stock...
http://www.sec.gov/litigation/litreleases/2008/lr20519.htm
UNITED STATES DISTRICT COURT DISTRICT OF NEVADA...
http://www.sec.gov/litigation/complaints/2008/comp20519.pdf
SEC Charges 14 in $64 Million Penny Stock Scheme...
http://www.sec.gov/news/press/2008/2008-54.htm
Mineweb JUNIOR MINING...
40,000 investors lose $64m in CMKM Diamonds stock scheme...
http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=50436&sn=Detail
Las Vegas Review-Journal...
Diamonds boondoggle a testament to the power of public relations...
http://www.lvrj.com/news/17415609.html
Diamond Intelligence Briefs...
SEC ACCUSES CMKM DIAMONDS INC. OF PENNY STOCK FRAUD...
http://www.diamondintelligence.com/magazine/magazine.asp?id=6270
Mondo Visione...
SEC Charges 14 In $64 Million Penny Stock Scheme...
http://www.mondovisione.com/index.cfm?section=news&action=detail&id=73792
The New York Times...
Making Millions From Fraud...
http://norris.blogs.nytimes.com/2008/04/07/making-millions-from-fraud/
Forbes.com / Associated Press...
SEC Files Charges Against CMKM Diamonds
http://www.forbes.com/feeds/ap/2008/04/07/ap4863449.html
TradingMarkets.com...
ENFORCEMENT PROCEEDINGS - SEC Charges Fourteen in Scheme to Issue...
http://www.tradingmarkets.com/.site/news/Stock%20News/1323518/
LA Times...
SEC sues over alleged stock fraud...
http://www.latimes.com/business/la-fi-wrap8apr08,1,6371920.story
The Diamond Guru...
40,000 investors lose $64m in CMKM Diamonds stock scheme...
http://thediamondguru.blogspot.com/2008/04/40000-investors-lose-64m-in-cmkm.html
U.S. News & World Report
14 Charged in Alleged Stock Scheme
http://www.usnews.com/blogs/the-collar/2008/04/08/14-charged-in-alleged-stock-scheme.html
National Jeweler Network
SEC accuses Vegas diamond company of fraud
http://www.nationaljewelernetwork.com/njn/content_display/diamonds/e3i28d455f36df018f32849a7773b706153
Dow Jones Newswires
SEC charges Nev. mining company with fraud
http://www.rockymountainnews.com/news/2008/apr/08/sec-charges-nev-mining-company-with-fraud/
Rapaport News
CMKM Diamonds Faces New Fraud Charges in U.S.
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=21239
Redtram International
CMKM Diamonds Faces SEC Charges in $64 Million Penny Stock Fraud
http://www.redtram.com/go/94148961/
Securities Law Prof Blog
SEC Files Complaint Alleging Penny Stock Fraud
http://lawprofessors.typepad.com/securities/2008/04/sec-files-com-1.html
Trading Markets
ENFORCEMENT PROCEEDINGS - SEC Charges Fourteen Defendants in Scheme to Issue
http://www.tradingmarkets.com/.site/news/Stock%2520News/1323518/
Topiz Law Corporate-Securities
SEC Files Charges Against CMKM Diamonds in $64 Million Scheme
http://www.topix.net/law/corporate-securities/2008/04/sec-files-charges-against-cmkm-diamonds-in-64-million-scheme
Courthouse News
Those Pennies Add Up
http://www.courthousenews.com/2008/04/08/_center_Those_Pennies_Add_Up_center_.htm
And no matter what happens, they never will learn anything.
Don't give up hope! This just in from a former PCBM shareholder.
By: ctla_4_me
08 Apr 2008, 09:14 PM EDT
Msg. 700590 of 700745
Jump to msg. #
This from my lawyer's interpretation of the SEC document:
Having read the complaint, my man, you were scammed by Casavant and his ilk. This has nothing to do with naked shorting; in fact, there would be plenty of shares to cover any shorts! The shorts, if any, were right! This was a classic SCAM!!
There were no assets and there were no SEC reports, etc. I blame me for not doing proper due diligence. My only saving grace was that what I invested was a tiny part of my whole portfolio. If we were snipe hunting, we were left holding the bag!
This is why one only should invest in stocks selling for more than $3.00 and that have current SEC filings, etc.
I would say that Casavant and his ilk have spent all of our money and that there will be not much chance of any recovery from them. And, by the way, the SEC has no liability to us in any event.
http://ragingbull.quote.com/mboard/boards.cgi?board=CMKI&read=700590
Some are hopeless, though.
By: notagolfer0
08 Apr 2008, 10:48 PM EDT
Msg. 700660 of 700746
(This msg. is a reply to 700590 by ctla_4_me.)
Jump to msg. #
ctla_4me, well, your lawyer is GUESSING! I would think, since no one knows, LOL I think the SEC is playing us!
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By: mt.men
08 Apr 2008, 09:54 PM EDT
Msg. 700615 of 700747
(This msg. is a reply to 700591 by ctla_4_me.)
Jump to msg. #
ctla To the trash heap for you and your abogado.
By: joesixpack333
08 Apr 2008, 09:55 PM EDT
Msg. 700618 of 700747
(This msg. is a reply to 700591 by ctla_4_me.)
Jump to msg. #
ctla... seems the report is having the desired effect.. eom
If ABAD is on the witness list
It will be better than a premium ticket to the Improv!
LOL Urban may as well just plead guilty if he has to depend on her.
I expect crazy heated SEC comments to commence after the CMKX complaint.
Mr. Anonymous is sending in one comment per day.
http://www.sec.gov/comments/s7-08-08/s70808-256.htm
http://www.sec.gov/comments/s7-08-08/s70808-263.htm
deli said he ripped up a 5 million share cert and threw it at an sec rep during questioning
ROFL
Nice story.........and then there is reality. Delidog was shaking so hard you could hear his wristwatch rattle.
I would have been more impressed if Delidog said he ripped up a twenty dollar bill. At least THAT would be worth something of value.
OMG ROFL Agoodbadgirl wants to testify for Urban! If that happens, I swear I'll do anything to be there in the courtroom that day!
By: eshill
07 Apr 2008, 04:08 PM EDT
Msg. 30939 of 31008
(This msg. is a reply to 30938 by bigdaddie.)
Jump to msg. #
..from abad....
So Urban Casavant tells the world his stock is being manipulated January 7, 2003, because he & some criminal cabal put out un-registered shares all over the place.
UC even names the brokerages in the Jan. 3 2003 PR. Yes, that is what I would do if I was throwing around unregistered shares. I would engage in this wrongdoing and then complain that my stock was being manipulated.
Then in the Fall of 2003, I would announce that I was buying the very unregistered shares I gave to brokerages to sell and put them back into the treasury.
Also, in the fall of 2003, while engaged in this sordid activity, I would make a world wide announcement that I was awaiting a response from the DTCC; so that I could see how many shares were outstanding. Wouldn't want to draw attention to my criminal endeavors.
I would put out all of these unregistered shares to make $64 million dollars, only to spend $64 million buying them back. Yep, that makes a world of sense.
Then, I would throw more wood on the blaze, start a race team, tour all over the United States and promote the purchase of CMKX for TWO YEARS. I would continue this bold maneuver under the eyes of several esteemed attorneys and professionals. Namely: Roger Glen, IBM and Stoecklein, the SEC, DOJ, Federal Reserve, Congress... etc.
Yep, first I sell them to make all kinds of money, only to turn around and buy them all back to retire them.... funny, the SEC had no problem with allowing the continued trading of over a trillion shares...and handing out dividends on markers....failing to enforce the 1976 Securities Processing Laws.... and the list goes on.
At least in SEC court hearing, UC has the ultimate trump card. He is not worthless, the claims are very real, the SEC, Federal Reserve, Congress, failed to enforce laws and regulations to protect investors and the SEC continues today to run a fractional securities system...
Heck, in my opinion, all the shares being traded daily are counterfeit imo. The real shares are in global cert form held by the private investment banks...and their criminal corporate clients.
This hearing ought to be a real fun exercise for the SEC and Congress!
UC! put me on the witness list for you!!! they don't stand a chance.
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If they wanted anything from Frizzy, they'd just subpoena it.
OK You convinced me the guy is full of crap. He's trying to prod Judy into having Patch comment about CMKX. So far no reply from Judy. I doubt Patch wants to mention USXP or CMKX again.
Thanks The post about the Tomassos being involved with BCIT threw me off. I never heard a connection with them or Turino having anything to do with BCIT.
By: jfarn
07 Apr 2008, 02:01 PM EDT
Msg. 30926 of 31007
(This msg. is a reply to 30923 by jcline.)
Jump to msg. #
JCline, Trying to touch base with Dave P. to share thanks for his fantastic work. Where is he with our situation. He doesn't not mention CMKX specifically. Have you spoken to him about our unique situation.
I very much doubt that Leslie would have gone to Texas for any reason.
Why not? I would like to see what they have in case there could be something in one of those boxes that may have been overlooked.
Janice, is it a fact the Tomassos were involved with BCIT?
Posted by: goldbarren58
In reply to: kkgd who wrote msg# 73056
Date:4/8/2008 8:35:06 AM
Post #of 73072
Kathleen Tomasso and Anthony Tomasso are the bcit/gbdx bad guys
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28292022