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You are probably right about this, so how do you think they will deal with this issue ?
50,000 investors will not go away till they believe a reasonably fair resolution is provided to this problem.
Money is the only thing that will make this go away!
Do you think someone will dig into some secret spare fund since its really chump change if you think about it, when dealing with stock market issues and just shut us up by providing the victims funding ? even if its just 0.0005
ps. I'm certain next time the SEC will be very very carefull when dealing with a stock that has thousands and thousands of investors and will shut it down the instant something appears to be fishy...
A very simple solution for the SEC to cover themselves would be for them to ask an individual purchasing a stock under investigation to confirm to the broker that they are willing to take the risk. Hence the SEC has done their part and it is the investor that has agree to take a risk on a stock that is being investigated by the SEC presto no more problems like this. Heck put up a warning on the pinksheets website too.
Its so simple the SEC should just do this and we will no longer have this type of issue!!!
Somoeone better deal with this issue fast, otherwise something involving this many people will certainly create a negative public opinion of investing in stocks.
Why were there no security checks in place to prevent something invoving MILLIONS and MILLIONS of dollars ???
How can we be sure this won't repeat ?
Are people currently investing in other companies that have the exact same thing being repeated and the US Government does give a dam ?
Come on people its not ok to rob a bank but its ok do this to the public ???????? F**K yes we're angry!
Get your balls together if you have any!
All legit institutions should take this to the next level...
This should include Brokers as it gives them a bad name for offering us Crap Stocks ! They should have never been sold!
Check out the Victims restitution:
http://www.usdoj.gov/usao/nv/victim_witness/case_updates.html
I don't believe the problem exists with any of these crooks, as we all know there will always be corruption within companies. There should have been a secondary body that monitored very large amounts of sale of deregistered CMKM securities. The problem lies at the core!!!
Its a failure of the current system in place!
There should have been additional security in place to double check the millions of dollars that passed right over their heads.
This is what the banks are doing, you put in some bonds or money and they actually check if any of the money is fake after the fact or if there are any errors with the bonds.
At one point in time I deposited some bonds into my bank and the individual that entered the amounts actually gave me a few extra zeros and this was caught internally and corrected.
There is nothing funny about what we have been put through.
FYI: A very interesting document has been submitted yesterday
We will see who laughs!
http://convert.neevia.com/prods/8f4d833f-30ef-4b69-a6a9-1dcfa5d3da1e.cvn/DOJ%20Witness%20doc.pdf
The SEC claims that NSS has never existed, but consider this!
If thats true why have they missed Billions of CMKX sales, because even the legal shares at that point in time were illegal when they were sold to us by our brokers.
Not knowing something doesn't make it legal to do.
The SEC has zero authority to prevent a crime, till its too LATE! There is something very wrong with this!
Since the SEC had reasonable information that a crime was being commited, they should have the ability to stop the sales of a stock such as CMKX, till the other party can prove in court that this is false. In fact when it involves thousands of people and millions of dollars a different way of dealing with these types of crimes needs be introduced.
How many other companies pulled this SCAM and because the shareholders never stood their ground nothing was done ?
=
This proves that IBM was right all along!!!
How could the SEC have missed this ?
The FBI should monitor individuals using this method and charge them!!! This is FRAUD!!!!!!!!!!!!
And people are complaining about buying CMKX.
Just look how exciting this entire story is turing out !
Have a good weekend guys. LOL
I paid 0.0005 but I'm willing to sell at 0.001 which is what some people paid!
I have more shares then most of the people on here combined so let me know if you're interested. LOL
Let us get this straight. So just like Brian mulroney who happened to have $50,000,000 apear in a swiss account from an unknown source that apparently gave it to him for no reason and he was not aware of this money. Then he eneded up suing the Canadian government, people can simply do money laundering and no one can trace this money ?
So if Edwards gets away with this, we don't really know if this money is used to build bombs to blow something up ?
So its possible to hide money and the FBI can't track it!
Nice!
I guess here is how he did it. Converted all the money to Gold bars, then transferred them to an underground secret bunker. Nice!
No wonder Gold is scarce lol
There are always individuals trying to discourage but we're here to stay till this is resolved!
Just look at the following:
Oh come on all UC needs is to read a posting in some major newspaper that states "Its FIFI the stripper come down to this spot under the milk store and I will give you pleasure"
If UC falls for it, have bubba waiting intead and bam.
UC just needs to bend down to pick up that soap and get use to it. After a while all of them will say anything, admit to everything, return every penny with a bonus just to get away from bubba. Bubba doesn't like to have his money being spent on FIFI by any of the individuals arrested.
I suggest we spend a few more dollars and make bubba happy, we ship bubba a pink dress, mathching pink shoes, pink rubber gloves and a vibrator so he can dress them up nice and pritty before they picking up soap.
ha ha ha
Today Cmkx shareholders have a have a huge GRIM!
Because ...... read below....
Still think there was no Sting!
Now you know...
Long term everyone involved is going to have to compromise the CMKX shareholders and make us happy!
NEWS RELEASE
MONDAY, SEPTEMBER 21, 2009 PRESS CONTACTS:
Natalie Collins, Public Affairs Specialist
(702) 388-6508
FIVE PERSONS ARRESTED IN SECURITIES FRAUD CASE
Investors Lost Over $60 Million in Stock Scheme
LAS VEGAS - - Five persons, including three Las Vegans and a lawyer licensed to practice in Nevada, have been arrested and charged with federal conspiracy and securities fraud crimes for issuing and selling hundreds of billions of shares of unregistered stock, announced Greg Brower, United States Attorney for the District of Nevada.
Helen Bagley, 62; Ginger Gutierrez, 37; and James Kinney, 39, all of Las Vegas; and Brian Dvorak, 54, of Boulder City, Colorado, were arrested on September 16 and September 17 in their respective cities of residence. Another defendant was arrested in England earlier this month and the U.S. Department of Justice has requested his extradition. A sixth defendant remains at large. Defendants Bagley, Gutierrez, and Kinney made initial appearances on Thursday, September 17, 2009, before U.S. Magistrate Judge George W. Foley, Jr. and were released pending trial. Defendant Dvorak appeared on September 17, 2009, before a U.S. Magistrate Judge in Denver, Colorado, and was released pending trial.
The defendants are charged in a Superseding Indictment, which was returned by the Federal Grand Jury in Las Vegas on May 27, 2009, but remained sealed until Thursday, September 17, 2009. All of the defendants are charged with one count of Conspiracy to Sell Unregistered Securities, to Make False Statements to the Security and Exchange Commission (SEC), to Desist From Filing Periodic Reports, and to Commit Securities Fraud; two counts of Securities Fraud; and one count of Conspiracy to Commit Securities Fraud. Defendants Gutierrez, Kinney, and two others are also charged with Conspiracy to Commit Money Laundering.
The Superseding Indictment alleges that from about September 2001 to March 2009, the defendants conspired to sell unregistered stock and stock certificates of CMKM Diamonds, Inc.(CMKM) by using the mails, wire services, over the counter stock exchanges, and other means of interstate commerce. The defendants also are alleged to have used manipulative and deceptive devices to sell CMKM stock and stock certificates.
The scheme allegedly began in September 2001 when one of the conspirators gained control of a publicly traded corporate shell, then known as Cyber Mark. Incorporated in Delaware, Cyber Mark had at one time been a software company. However, by 2001 the business was defunct and had no appreciable assets or revenue. This corporate shell nonetheless remained registered with the U.S. Securities and Exchange Commission (“SEC”) and eligible to publicly trade its stock. In April 2002, Cyber Mark reorganized as a Nevada corporation and filed Articles of Conversion with the Secretary of State of Nevada absorbing the earlier Delaware corporation. At the time of its incorporation in Nevada, this corporate shell was authorized to issue up to five hundred million shares of common stock of which over three hundred million had been issued and were outstanding.
In November 2002, Cyber Mark entered into an agreement to purchase mining claims or interests held by five companies owned or controlled by Casavant and his family, ostensibly in exchange for two million dollars and approximately three billion shares of Cyber Mark restricted common stock notwithstanding that this corporate shell had no appreciable assets, revenue or value. Cyber Mark contemporaneously filed an Amendment to its Articles of Incorporation increasing its authorized common shares to ten billion four hundred ninety-seven million. Although Cyber Mark did not merge with Casavant's companies, Casavant became director, president and chief executive officer of Cyber Mark. On December 3, 2002, Cyber Mark changed its corporate name to Casavant Mining Kimberlite International. In February 2004, the company took the name CMKM Diamonds, Inc.
As a publicly traded corporation, CMKM was required to file quarterly and annual reports with the SEC. These reporting requirements are intended to provide the investing public with current and accurate information to enable investors to make informed decisions. However, CMKM did not file quarterly reports between October 2002 and June 2005, nor did it file annual reports for calendar years 2002, 2003 and 2004. By evading statutory and regulatory reporting requirements in this manner, the conspirators concealed information regarding CMKM's assets, liabilities, operations, revenues, and shares from both government regulators and the investing public. Having effectively cast a cloak of secrecy over the corporation, the conspirators increased CMKM's authorized shares from ten billion four hundred ninety-seven million to an estimated eight hundred billion shares through a series of amendments to CMKM’s Articles of Incorporation between December 2002 and August 2004.
Bagley, doing business as 1st Global Stock Transfer LLC, thereafter issued hundreds of billions of shares of CMKM stock to the conspirators’ nominees, alter-egos associates and straw-purchasers. Most of these shares of CMKM stock were not registered with the SEC and the share certificates should have borne restrictive legends declaring that the shares were un registered and could not be sold to the public. However, as part of the conspiracy, Dvorak issued opinion letters falsely and fraudulently invoking invoke an exemption from the rules and regulations that restricting the sale of unregistered stock. Specifically, the conspirators invoked SEC Rule 144(k) by falsely representing that the nominees and straw-purchasers had purchased or earned billions of shares of CMKM stock more than two years earlier and that those shares had mistakenly not been issued at that time. In this manner, the conspirators fraudulently issued hundreds of billions of unregistered shares of CMKM stock without restrictive legends. Bagley issued sheaves of unlegended stock certificates representing hundreds of billions of shares of CMKM stock to nominees, alter-egos, associates and straw-purchasers.
Despite issuing approximately eight hundred billion (800,000,000,000) shares of stock, CMKM remained a hollow shell. Although purporting to be an international diamond exploration and mining company, CMKM did not conduct substantive mining operations and did not produce any diamonds. Although CMKM was not engaged in any productive mining activities or business of any kind (other than issuing its own stock), the conspirators created a market and stoked demand for CMKM stock. To create the appearance of an active and established market for CMKM stock, and to disguise the fact that they were the primary sellers of CMKM stock, the conspirators surreptitiously traded in CMKM stock through multiple nominees, alter-egos, associates and straw-purchasers. The volume of the trading activity generated by the conspirators sparked investor interest in CMKM. The conspirators spurred interest in CMKM's stock by sponsoring motor sports racing teams and Internet promotions. Further, in the void created by CMKM's failure to file periodic reports, the conspirators sowed misinformation regarding CMKM's activities and spurred speculation regarding the company’s prospects and value through false and misleading press releases and market manipulation.
Fueled by the fraudulent promotions and a seemingly endless supply of CMKM stock, the conspirators sold hundreds of billions of CMKM stock to the investing public. Although CMKM shares usually traded at less than a penny per share, the sub-penny price was offset by the astounding volume of shares traded. Indeed, records reflect that during the course of the fraudulent scheme approximately 40,000 investors purchased CMKM stock in market transactions and that trading volume frequently exceeded one billion shares—and sometimes two billion shares—per day. In March 2005, the SEC suspended CMKM's trading status, and in October 2005, the SEC ordered CMKM deregistered. The indictment alleges that before the scheme was brought to an end, the defendants realized more than sixty million dollars through the fraudulent sale of CMKM stock. Kinney, Gutierrez and two others are charged with conspiracy to launder the proceeds of the criminal scheme.
If convicted, the defendants face up to 5 years in prison for conspiracy to commit securities offenses as charged in Count One; up to 10 years in prison for securities fraud in violation of 15 U.S.C. § 78j, as charged in Count Two; up to 25 years in prison for committing, or for conspiring to commit, securities fraud in violation of 18 U.S.C. § 1348, as charged in Counts Three and Four; and up to 20 years in prison for conspiracy to commit money laundering, as charged in Count Five. Defendants are also subject to potential fines and the indictment seeks the forfeiture of up to $60 million from the defendants if they are convicted.
This case is being investigated by the FBI and IRS Criminal Investigation. The SEC also previously brought civil enforcement actions in this matter. The criminal case is being prosecuted by Assistant U.S. Attorneys Timothy S. Vasquez and Michael Chu.
The public is reminded that an indictment contains only charges and is not evidence of guilt. The defendants are presumed innocent and are entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.
http://www.cmkx.com
lives on!
Its way higher then just $60,000,000 at least three times that amount. Many of us paid far more then 0.0001/ share
More like 0.0005/share
Although it would be interesting to see how some people could buy cmkx at 0.000000001 ?
What about the money that was made by the brokers and mm's as they traded unauthorized shares ? Why is the government not stepping in to deal with this ?
Try giving a fake 20$ bill at your local store and see what happens! The police is called in, you have to explain where that money came from and then its taken away from you.
So why has this money that was mode at our expense not been addressed ? A few million dollars is still a lot of money!
JOHN M. McCOY III, Cal. Bar No. 166244
E-mail: mccoyj@sec.gov
MOLLY M. WHITE, Cal. Bar No. 171448
E-mail: whitem@sec.gov
LESLIE A. HAKALA, Cal. Bar No. 199414
E-mail: hakalal@sec.gov
Attorneys for Plaintiff
Securities and Exchange Commission
Rosalind R. Tyson, Regional Director
Andrew G. Petillon, Associate Regional Director
5670 Wilshire Boulevard, 11th Floor
Los Angeles, California 90036-3648
Telephone: (323) 965-3998
Facsimile: (323) 965-3908
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
vs.
CMKM DIAMONDS, INC., URBAN
CASAVANT, JOHN EDWARDS,
GINGER GUTIERREZ, JAMES
KINNEY, ANTHONY TOMASSO,
KATHLEEN TOMASSO, 1ST
GLOBAL STOCK TRANSFER, LLC,
HELEN BAGLEY, NEVWEST
SECURITIES CORPORATION,
DARYL ANDERSON, SERGEY
RUMYANTSEV, ANTHONY
SANTOS, and BRIAN DVORAK,
Defendants.
Case No.: 2:08-cv-00437-LRH-RJJ
APPLICATION FOR ENTRY OF DEFAULT JUDGMENT AGAINST
DEFENDANT URBAN CASAVANT
TO ALL PARTIES AND ALL COUNSEL OF RECORD:
PLEASE TAKE NOTICE that pursuant to Rule 55(b)(2) of the Federal
Rules of Civil Procedure, Plaintiff Securities and Exchange Commission
(“Commission”) will, and hereby does, apply for entry of a final judgment of
permanent injunction and other relief by default against defendant Urban Casavant
(“Casavant”). This Application for Entry of Default Judgment Against Defendant
Urban Casavant (“Application”) is made on the grounds that Casavant has failed to
answer, plead, or otherwise respond to the Commission’s Complaint within the
time prescribed by the Federal Rules of Civil Procedure.
Casavant waived service of the Summons and the Complaint on April 11,
2008. A copy of the waiver is attached as Exhibit 2 to the Declaration of Leslie A.
Hakala Supporting Application for Default Judgment Against Defendant Urban
Casavant.
The Clerk of the Court entered default against Casavant on August 12, 2008.
The default is attached as Exhibit 6 to the Declaration of Leslie A. Hakala
Supporting Application for Default Judgment Against Defendant Urban Casavant.
Casavant is not a minor or an incompetent person, and he is not in military
service.
The allegations in the Complaint warrant entry of a Final Judgment against
Casavant: (1) permanently enjoining him from future violations of Sections 5(a)
and 5(c) of the Securities Act of 1933 (“Securities Act”), 15 U.S.C. §§ 77e(a) and
77e(c), Sections 10(b), 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Securities
Exchange Act of 1934 (“Exchange Act”), 15 U.S.C. §§ 78j(b), 78 m(a),
78m(b)(2)(A) & 78m(b)(2)(B), and Exchange Act Rules 10b-5, 13a-1, 13a-13, and
Rule 13b2-1, 17 C.F.R. §§ 240.10b-5, 240.13a-1 & 240.13a-13 & 240.13b2-1; (2)
ordering the payment of $31,500,000 in disgorgement plus $2,689,433.62 in
prejudgment interest; (3) ordering payment of third-tier civil penalties; (4)
imposing an officer-and-director bar against Casavant; and (5) imposing a penny
stock bar against Casavant.
Pursuant to Rule 55(b)(2) of the Federal Rules of Civil Procedure, the
Commission is not required to serve this Application for Entry of Default
Judgment on Casavant because he has not appeared in this action. Nonetheless, on
August 26, 2009, the Commission sent Casavant a letter giving him notice that it
intended to file this Application.
This Application is based upon the accompanying Memorandum of Points
and Authorities Supporting Application for Entry of Default Judgment Against
Defendant Urban Casavant, the Declaration of Leslie A. Hakala Supporting
Application for Entry of Default Judgment Against Defendant Urban Casavant, the
Declaration of Pamela Chattoo Supporting Application for Entry of Default
Judgment Against Defendant Urban Casavant, the files and records of this case,
and any evidence or argument that the Court may consider in connection with this
Application.
Dated: August 31, 2009 /s/ Molly M. White
Molly M. White
Leslie A. Hakala
Attorneys for Plaintiff
Securities and Exchange Commission
Case 2:08-cv-00437-LRH-RJJ Document 128 Filed 08/31/2009 Page 3 of 6
PROOF OF SERVICE
I am over the age of 18 years and not a party to this action. My business address is:
[X] U.S. SECURITIES AND EXCHANGE COMMISSION, 5670 Wilshire
Boulevard, 11th Floor, Los Angeles, California 90036-3648
Telephone No. (323) 965-3998; Facsimile No. (323) 965-3394.
On August 31, 2009, I caused to be served the following document entitled
APPLICATION FOR ENTRY OF DEFAULT JUDGMENT AGAINST
DEFENDANT URBAN CASAVANT on the parties whose service of process
forms have been filed in this action and others, addressed as stated on the attached
service list:
[X] OFFICE MAIL: By placing in sealed envelope(s), which I placed for
collection and mailing today following ordinary business practices. I am
readily familiar with this agency’s practice for collection and processing of
correspondence for mailing; such correspondence would be deposited with
the U.S. Postal Service on the same day in the ordinary course of business.
[ ] PERSONAL DEPOSIT IN MAIL: By placing in sealed
envelope(s), which I personally deposited with the U.S. Postal Service.
Each such envelope was deposited with the U.S. Postal Service at Los
Angeles, California, with first class postage thereon fully prepaid.
[ ] EXPRESS U.S. MAIL: Each such envelope was deposited in a
facility regularly maintained at the U.S. Postal Service for receipt of
Express Mail at Los Angeles, California, with Express Mail postage
paid.
[ ] HAND DELIVERY: I caused to be hand delivered each such envelope to
the office of the addressee as stated on the attached service list.
[ ] FEDERAL EXPRESS: By placing in sealed envelope(s) designated by
Federal Express with delivery fees paid or provided for, which I deposited in
a facility regularly maintained by Federal Express or delivered to a Federal
Express courier, at Los Angeles, California.
[X] ELECTRONIC MAIL: By transmitting the document by electronic mail
to the electronic mail address as stated on the attached service list.
[ ] FAX: By transmitting the document by facsimile transmission. The
transmission was reported as complete and without error.
[X] (Federal) I declare under penalty of perjury that I am a member of the State
Bar of California and an attorney permitted to appear before this Court and
that the foregoing is true and correct.
Date: August 31, 2009 /s/ Molly M. White
Molly M. White
Case 2:08-cv-00437-LRH-RJJ Document 128 Filed 08/31/2009 Page 4 of 6
SEC v. CMKM DIAMONDS, INC., et al.
United States District Court - District of Nevada
Case No. 2:08-CV-00437-LRH-RJJ
(LA-3028)
SERVICE LIST
Irving M. Einhorn, Esq.
Law Offices of Irving M. Einhorn
1710 10th Street
Manhattan Beach, CA 90266
Email: ime@einhornlaw.com
Attorney for Defendant John Edwards
Mark S. Dzarnoski, Esq.
Gordon & Silver, Ltd.
3960 Howard Hughes Parkway, Ninth Floor
Las Vegas, NV 89169
Email: mdzarnoski@gordonsilver.com
Attorney for Helen Bagley and 1st Global Stock Transfer LLC
Urban A. Casavant
RR 5 Site 16 Box 29
Prince Albert, Saskatchewan S6V 5R3
Canada
Email: ucasavant@shaw.ca
John Wesley Hall, Jr., Esq.
1311 Broadway
Little Rock, AR 72202-4843
Email: forhall@aol.com
Attorney for Brian Dvorak
Kathleen Tomasso
9580 Lake Serena Drive
Boca Raton, FL 33496
Email: ttomasso@ncfgcomm.com
Anthony Tomasso
9580 Lake Serena Drive
Boca Raton, FL 33496
Email: ttomasso@ncfgcomm.com
Sergey Rumyantsev
1951 North Jones Boulevard, #G-202
Las Vegas, NV 89108
Email: chaptak@embarqmail.com
Anthony Santos
6965 North Durango Drive, Suite 1115-208
Las Vegas, NV 89149
Email: Ams.nwst@gmail.com
Case 2:08-cv-00437-LRH-RJJ Document 128 Filed 08/31/2009 Page 5 of 6
NevWest Securities Corporation
c/o Anthony Santos
6965 North Durango Drive, Suite 1115-208
Las Vegas, NV 89149
Email: Ams.nwst@gmail.com
Douglas E. Griffith, Esq.
Kesler & Rust
McIntyre Building, 2nd Floor
68 S. Main Street
Salt Lake City, UT 84101
Email: dgriffith@kesler-rust.com
Attorney for Daryl Anderson
Eric N. Klein, Esq.
Eric N. Klein & Associates, P.A.
1200 N. Federal Highway, Suite 200
Boca Raton, FL 33432
Email: enk@kleinattorneys.com
Michael R. Bakst
PMB 702
222 Lakeview Avenue, #160
West Palm Beach, FL 33401
Email: michael.bakst@ruden.com
Case 2:08-cv-00437-LRH-RJJ Document 128 Filed 08/31/2009 Page 6 of 6
http://viewer.zoho.com/docs/racPcac doc 1
http://viewer.zoho.com/docs/tacKgg doc 2
http://viewer.zoho.com/docs/hacHcg doc 3
http://viewer.zoho.com/docs/qacxjd doc 4
http://viewer.zoho.com/docs/zacodm doc 5
http://viewer.zoho.com/docs/qacmwa doc 6
This is how persistant the CMKX shareholders are:
http://www.metacafe.com/watch/938353/monica_bellucci_clip/
Better just give up because you know you can't win!
Madoff is not dying of cancer but from the fun that bubba is having with him. It must feel so good for him, the girls must be jealous :)
Its 50 shares but its strange how they are refusing to issue Certs ?
I attempted to request Certs for Google in my TD Waterhouse account and was declined in Canada ???
What is going on?
Are certs no longer legit? anyone please speculate
Isn't that what a good player does :)
Ladies always expect financial compensation of their time, this time it was the other way around. lol
Looks like RG is going to Jail soon!
August 14, 2009
CMKM Diamonds, Inc. Announces Amendments to Lawsuits
CMKM Diamonds, Inc. filed an amendment yesterday to add several individuals and entities to their current lawsuit in Nevada against former CEO Urban Casavant and other insiders of the Company. The amendments include attorney Donald Roger Glenn, Rendal Williams, Cierra Williams, former Silver State Bank representative Patricia DeCosta, Monte Verde Holdings, and Edwards, Angell, Palmer and Dodge LLP. The lawsuit, originally filed on April 25, 2007, is one of several legal actions against individuals and entities who are believed to have played a major role in the fraudulent insider activities and massive stock dilution of the company. Additional lawsuits and actions against other parties are planned by the Company.
This newly amended lawsuit is posted on the Company website at http://www.cmkmdiamondsinc.com/documents/casavant_amendment_8-13-09.pdf
Bounty hunters capture fugitives for a monetary reward, do these guys qualify ??? I'm sure there are multiple CMKX shareholders who would love to drag their azz back to the US.
By JOHN G. EDWARDS
LAS VEGAS REVIEW-JOURNAL
http://www.lvrj.com/business/49334862.html
The federal government won a judgment against a key defendant in the CMKM Diamond stock fraud case for $55 million, but a source close to the case said the defendant's whereabouts is unknown.
U.S. District Judge Larry Hicks on Tuesday signed a summary judgment order against four defendants in the Securities and Exchange Commission lawsuit against CMKM Diamonds, a penny stock company that had no legitimate business. Defendants in the case sold most of the worthless stock through a Las Vegas brokerage, causing 40,000 investors to lose a total of $64 million, according to the court order.
The judge issued a summary judgment against John Edwards; Daryl Anderson, a stockbroker at now-closed NevWest Securities Corp. of Las Vegas; and Kathleen and Anthony Tomasso of Florida who sold 77.3 billion shares of CMKM stock to five companies the Tomassos owned.
The four defendants consented to the summary judgment without admitting or denying any liability. It's not clear whether the government will recover any of the judgments against the defendants or, if it does, whether any of the recovered money will be shared with victims.
The scheme started when Edwards did a reverse merger between his public company, CMKM, and several private Canadian companies controlled by Urban Casavant, according to the order.
Casavant was chief executive and chairman of CMKM while Edwards, using the alias Ian McIntyre, was director of post-term matters.
CMKM, whose "only activities were illegally issuing and promoting its own stock," increased its outstanding shares to 800 billion from 500 million, the court papers said. CMKM shares were traded over-the-counter for prices ranging from one-tenth to one-hundredth of a cent.
CMKM gave investors "phony maps and fabricated videos" of alleged gold and diamond mines, according to the order.
"This involved writing false opinion letters (about the stock), issuing false press releases, populating Internet message boards with false information and operating a promotional motorbike, truck and 'funny car' racing team, which traveled throughout the country promoting the CMKM brand," the order said.
Many victims were NASCAR race fans.
"In reality, the company financed gambling debts, personal real estate investments, lavish lifestyles and had no operations beyond Casavant's Las Vegas residence," the papers said.
The scheme continued from January 2003 to May 2005.
Anderson sold 260 billion shares of stock in 569 transactions for $53.3 million.
"At this point in time, (Anderson) didn't think it was worth it to fight the claims," said defense attorney Doug Griffith of Salt Lake City. Griffith doubted his client could satisfy the $4.8 million judgment, which includes disgorgement of "ill-gotten gains," prejudgment interest and a civil penalty.
A summary judgment of $1.4 million was entered against the Tomassos.
Of the four, Edwards faces the largest judgment, a total of $55 million. A source said authorities no longer know Edwards' whereabouts. Molly White, a Securities and Exchange Commission attorney assigned to the CMKM case, declined to comment on whether Edwards is missing.
The four defendants have 10 days to make payments before the government will start efforts to recover the judgments.
The judge enjoined the four defendants against similar securities law violations in the future.
Default orders have been issued against Casavant, NevWest and two other defendants. Civil litigation continues against Sergey Rumyantsev and Anthony Santos, who owned stakes in Nevwest, and three other defendants.
Contact reporter John G. Edwards at jedwards@reviewjournal.com or 702-383-0420
You guys are too funny. XD
Ok so let us get this straight no one knows how many these fantastic shares were introduced into the stock market ?
Nice ha ha ha Great job SEC and MM's :)
No one knows... Great System!!! XD
Operative word is SOLD...The Commission's complaint, filed in U.S. District Court for the District of Nevada, alleges that, from January 2003 to May 2005, CMKM improperly issued up to 622 billion shares of purportedly unrestricted stock. According to the complaint, these issuances were based in large part on both written authorizations and attorney opinion letters prepared by Brian Dvorak, CMKM's lawyer, which were often facially inadequate, suspect, and inconsistent. Allegedly, based on these faulty documents, CMKM's transfer agent, 1st Global Stock Transfer LLC, and its owner, Helen Bagley, issued stacks of stock certificates without restrictive legends. Edwards, his nominees, Kathleen Tomasso and Anthony Tomasso, and Casavant's nominees, James Kinney and Ginger Gutierrez, then allegedly deposited the certificates with various broker-dealers and sold the shares into the market. NevWest Securities Corporation and its employees, Anthony Santos, Sergei Rumyantsev, and Daryl Anderson, are alleged to have sold more than 259 billion shares of CMKM stock for Edwards, despite numerous red flags indicating a massive unregistered distribution. Meanwhile, Casavant allegedly generated investor interest in CMKM by using false press releases, Internet chat boards, and "funny car" race events across the country. The complaint alleges that this promotion was extremely successful, and about 40,000 investors purchased CMKM stock during the period of the fraud without knowing that Casavant ran the company from his house in Las Vegas, and that CMKM's primary activity was to issue and promote its own stock.
Well I'm back and we now have proof that NSS is real so it explains the reason so many of you stuck around this board trying to convince the public of your bull!
"SEC rule on 'naked' short-selling now permanent
SEC makes emergency rule targeting 'naked' short-selling permanent
By Marcy Gordon, AP Business Writer
On Monday July 27, 2009, 8:03 pm EDT
Buzz up! 32 Print.WASHINGTON (AP) -- Federal regulators on Monday made permanent an emergency rule put in at the height of last fall's market turmoil that aims to reduce abusive short-selling."
No wonder when you look at the history of Millions of companies, many of which had something very valuable to add to our society yet almost 100% of them have been driven into the ground. Just pick a stock and follow it in the past.
Its impossible that 100% of the over the counter stocks out there were all fradulent.
This is what happened in reality "Short-sellers bet against each of these stock. They generally borrowed a company's shares, sold them, and then bought them when the stock fell and returned them to the lender -- pocketing the difference in price."
Yes if you keep doing that you will eventually make each company and stock worthless!!!!!!!!!!!!!!!!!
The market was a sham for years lets face it guys!
Either way it was desigened so we would all fail.
Think of it this way you prepare for an exam and they decide to give you the exam in Japanese as a surprise, I'm sure we will all pass. ha ha ha
Frizzell went on to state: “In my opinion there still remains huge ‘fails to deliver’ of Company stock in brokerage accounts around the country. I have the benefit of various NOBO and OBO lists that existed before the cert pull. As you know I have a wealth of documentation from several brokers who refuse to issue certs to their customers in CMKX. The documentation that has been sent to this office will be very helpful to the Company and shareholders as we work towards trading status.”
I think many of us want answers to whats on the disk or compensation!
No you thought wrong.
Uranium may have near-surface mineralization in the Upper Cretaceous or Tertiary to Pleistocene sediments.
This type of mineralization even been observed at the Langer Heinrich uranium mine in Namibia (containing 72 million pounds of U3O8).
Have you ever heard of the Paladin Energy Ltd's Langer Heinrich deposits?
They occur over a 15 km length and their mineralization is 1 m to 30 m thick and 50 to 1,100 m wide.
Although in reality I would rather get my money back because as of right now I don't trust any of these individuals.
LOL Finally some real NEWS!
Yes I do keep things interesting such as...
What do you make of this ?
Why ?
(It seems to me like the Casavants have made some sort of exchange for their freedom.)
http://judicial.smith-county.com/Scripts/UVlink.isa/smith_2/WEBSERV/CVHearSearch?action%253Dview%26track%253D641978
Yes you're right.
Actually I thought it had different potential.
perhaps "Uranium"
LOL
I don't trust him either so you have a point!
Personally I would rather just get my original investment back.
I should have bought the BMW ... but instead invested in a stock market that I thought was monitored better to prevent this sort of thing. Many of us didn't realize it was this bad.
Emerson Koch :)
The Oreo cookie did have anomalies...
http://www.smad.gov.sk.ca/Pages/BasePages/DownloadPopup.aspx?UseCase=LD&assessmentId=3369&cid=3&fid=72840&fname=d-LLFinalReport%5b1%5d+x.pdf&size=4661148
LOL
I though 2006 was only three years ago.
One thing I do know fur certain is these guys are good at what they do and CMKX has no clue how to mine for diamonds.
This is the smartest thing they have done since they went into mining for diamonds. They gave it to someone who knows what they are doing.
I think CMKX is in Good Hands!
Check this out...
Work that was done on 101047025
Click on the link: www.smad.gov.sk.ca/Pages/BasePages/Main.aspx
See where it says: Company and in the little box says: –NONE—Begins with Contains Ends with EQUALS NOT EQUALS
Click on: Contains then type in the exact word in search box: saskatchewan ltd then scroll to the bottom and click on search.
Click View Data
Here is some information I was able to get and I had no idea the kimberlites were this huge! These types of kimberlites are of a different type then any other in the world. They're HUGE! NICE!
Miscelaneous section of 73H-0010
Double Excavating LTD Crop
Aerial Survey Assistance requested $100,000
Regional Survey covered more dispositions than originally intended. Disposition list update 19-Jul-2006
Interpretive and Techincal Report:
NWT in Canada, the upper portions of the kimberlites bodies have been eroded, leaving only
the feeder pipe, which has a "carrot" shape, getting smaller in diameter with depth. However, in
the Fort à la Corne swarm, the tops of the kimberlitic volcanic edifices are completely
preserved, and they are shaped more or less like a soup bowl, with two larger horizontal
dimensions, and one smaller vertical dimension. Several of these have an inferred geological
resource (based on a few holes and on geophysical modeling) in excess of 100 million tonnes,
one has nearly a billion tons, and one group of five which are close together, or perhaps
coalescing, contain about 2 billion tons of kimberlite. There are thus huge volumes of
kimberlite within a few hundred metres of the surface.
The Fort à la Corne swarm of kimberlitic bodies is the largest swarm known in the world, and
some of the bodies are the largest known such bodies in the world.
The Fort à la Corne kimberlites are covered with about 100 to 120 metres of unconsolidated
Pleistocene glacial deposits.
K/Ar dating of phlogopite in the kimberlite, and dating...
The two aircraft used in this survey were Piper PA-31 Navajos, registrations C-GJBA and C-GJBB,
owned and operated by Goldak Airborne Surveys. Each aircraft is fitted with a 3-meter stinger attached
to the rear fuselage on the centerline of the aircraft. The attitude sensing fluxgate magnetometer is
positioned at the midpoint of the stinger. Two sensors separated vertically are mounted in the aft end of
the tail stinger. The aircraft also has magnetometers installed in composite pods on each wingtip. The
pods mount the sensors 1.2 meters outboard of the aircraft wingtip. The four magnetometers form a
three-axis gradiometer with following dimensions:
Lateral - 14.865m Longitudinal - 8.560 m Vertical - 2.229 m
The aircraft has been extensively modified, both mechanically and electrically, to minimize the effects of
maneuvering on the measured magnetic field. The aircraft has demonstrated Figure of Merit of less than
0.6 nT as measured to GSC specification. Typical FOMs under less than ideal calibration environments
are 0.8 nT for the tail magnetometers. This low level of magnetic noise is considered to be exceptional
by experts at the National Research Council.
Is Roger Glenn guilty of being an accomplist to the money that went missing ???
November 2, 2004 Thousands converge on Texas Station and the long awaited CMKX/USCA Shareholders Party.
Las Vegas, Nevada was the site of the long awaited and recently held shareholder`s party held by CMKM Diamonds Inc. and U. S. Canadian Minerals. The event was a first class bash worthy of large Corporations like Microsoft and General Motors. To see such an elaborate display by a company for its shareholders in an Over The Counter Bulletin Board stock is unheard of. What is the mystique behind these two companies that drew over 2000 people to travel from all over the world to attend such an event? Gold and Diamonds! Not really, many shareholders came out to meet CEO Urban Casavant and see the man whose vision of making one million millionaires has become legendary among Pink Sheet Stock companies.
The much built-up event was surrounded for months with rumors of a celebration of a diamond find and potential increases in the
company`s stock price. Originally over 8000 had registered for the event hoping to have the money to attend by the time the party was held. Many came to meet D. Roger Glenn the noted New York Attorney well known for his involvement in authoring the Sarbanes-Oxley Act and several books concerning naked short selling in the OTCBB exchanges.
Although plans to attend did not work out for some shareholders,
still many came despite the recent complaints filed against CMKM
Diamonds Inc. and U. S. Canadian Minerals by unknown individuals suspected to be from an offshore hedge fund company. Obviously orchestrated to ruin the party, this coordinated attack against the two companies did nothing to dissuade shareholders from attending the event. The complaints, one filed in Canada with the Saskatchewan government against individuals of CMKM Diamonds and the other complaints filed with the Securities and Exchange Commission in the U.S. caused USCA to be suspended last week.
The claim that U. S. Canadian Minerals sought to hype its stock to force a run up so that management can dump their shares and leave their shareholders holding the bag with a company that has no value. Allegations easily proved wrong by U. S. Canadian Minerals evidenced by their prompt response to the SEC in providing the necessary documents to prove the claims made by their press releases and their soon to be filed 3rd Quarter report.
Shareholders arrived in droves that evening anticipating blockbuster announcements and disclosure of the company`s share structure and news that would indicate when CMKX wouldbe a fully reporting company. The party was short lived after a video was shown that was purported to be "self-explanatory" failed to provided the answers many shareholders were expecting. At the conclusion of the video, the band resumed playing and was abruptly stopped by a woman only known as "Leslie" from Alberta Canada. Leslie walked on stage and
demanded the band "Love Shack" stop playing and give her the
microphone where she proceeded to complain about having come to the event to get and answers and not having received any. The confusions and uncertainties caused by this action resulted in the conclusion of the party as the interruption was perceived as a security risk in a time when public safety is paramount.
During the ensuing after math of questions and complaints by
disgruntled and confused shareholders seeking answers to what
happened. Ed Dhonau, CEO of Nevada Minerals and many others provided information that quickly and easily quelled the mass quasi-hysteria at the event. According to Mr. Dhonau, there were additional activities, videos and announcements that would have left shareholders feeling great about their investments. One of the biggest and obvious occurrences that evening as explained by Mr. Dhonau was the self-imposed gag on both companies by D. Roger Glenn.
The gag order meant to protect the company from any further
complaints by the SEC and the Saskatchewan government did little to comfort the shareholders but was understood by all to be the prudent thing to do.
Regardless, the festivities still promised much more for its
shareholders including the announcement of the company`s new
Sarbanes-Oxley compliant Advisory Board, which is rumored to have some reputable names that would have appeased the shareholder`s need for information. Even though the party ended abruptly, it does not change the facts that U.S. Canadian Minerals is answering the call of the SEC on these complaints and expects to be trading once again in the coming week. The complaints if anything served to bring additional notoriety and attention to the two companies despite their enemy`s attempts to discourage shareholders through these desperate actions.
CMKM Diamonds Inc. and U. S. Canadian Minerals are in
Zoomingstocks.com`s opinion companies working had to put together a fundamentally sound business enterprise that will endure the trials and tribulations of the naked short sellers and emerge as premier notable companies in the mining industry. They are without a doubt close to achieving their goals to be among the strongest and well- known companies in mining and are on the verge of success. The complaints filed against the companies are obvious attacks by person (s) who are panicking knowing the short cover is coming and will stop at nothing to throw roadblocks at the two companies. Truth and justice will always prevail and in the case of CMKM Diamonds Inc.
and U.S. Canadian Minerals, this is just the beginning.
Zoomingstocks.com will continue to cover and provide through its
newsletter updates on these two companies as they near their goals. Zoomingstocks.com would like to convey its sincerest appreciation and gratitude to CMKM Diamonds Inc. and U.S. Canadian Minerals for the wonderful, memorable event in Las Vegas and all the work done on behalf of shareholders worldwide. It appears that they are ready to go to the next level and Zoomingstocks.com will be there along side reporting and keeping its subscribers informed as events unroll.
Zoomingstocks.com would like to thank the many shareholders who provided positive feedback and express their gratitude to CMKX and USCA for this memorable event.
___________________________________
Notice the below about "Pacific"... there was a connection to them long ago.
D. Roger Glenn of Edwards Angell, attorneys for CMKM Diamonds, Inc. said "The Company is proud to announce this relationship with Pacific Stock Transfer .It has a fine reputation as a transfer agent, and the Company is looking forward to working with it in the future. The Company is confident that Pacific Stock Transfer will process transactions in the Company's stock accurately and quickly.
_________________________________________
Notice what Maheu said below... "of our" "Additional" "Monitor "OUR" Holdings"
"We are not letting these regulatory matters impede our primary focus of creating stockholder value through the mining and development of our mineral assets," stated Mr. Maheu. CMKX is continuing to search for additional property claims in Canada and monitor its holdings in Ecuador.
Interesting bonus Link about Roger Glenn:
Shore sounds like a guy on the straight and arrow doesn't he...
Hey I know its not related but ...
Thats what I'm talking about making huge news besides Google!
AXIAL VECTOR ENERGY CORPORATION ANNOUNCES SUCCESSFUL DEMONSTRATION OF ENGINE RUNNING NON-FOSSIL FUEL woohoo
No theyR here. lol Naked !
I think you're missing the big picture.
Overstock like CMKX has issued unregistered shares which should simply not be possible and organizations that monitor the stock market should incur all loses as it is a failure on their part.
Anything like CMKX where Billions of shares are trading daily should give off red flags. Secondly it is Congress that needs to take responsibility for their lack of response to the ongoing issue of the SEC being unable to protect the public.
They don't have the authority or resources and we can all see they're trying their best which is no longer good enough.
Try cutting an Orange with a piece of paper and see how that works out. lol
I wouldn't make statements like that just yet!
You don't have all the facts yet :)
The only people that think Shore is done are the ones who don't have a clue what they're talking about.
They may not be as profitable as expected but they do have diamonds.
Check this out about Janice:)
http://www.minamargroup.com/docs/562912037.pdf
http://www.bloomberg.com/apps/news?pid=20601087&sid=atjXJvWkixGY
I'm off have a good one!
$592 trillion derivatives!!!
Most likely its much higher like $892.
Great you introduce these regulations but what about ...
Here is the problem, how do you clean house with what is currently already there ?
I guess its a start!
WOW! They're finaly realizing the magnitude of this problem!
I will give the SEC this much they are trying...
SEC Charges 14 In $64 Million Penny Stock Scheme
The Securities and Exchange Commission today charged 11 individuals and three companies, alleging they conspired to illegally issue and sell unregistered stock in a purported diamond and gold mining company and lined their pockets with more than $64 million from 40,000 investors nationwide.
When such large amounts of money are involved the SEC need to have a lot more power. You have so much money involved daily and no teeth to protect it! Its a no brainer.