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UAMA CEO knowingly filed false Pink Quarterly Reports!
Clearly fraudulent misrepresentation as Mr. Benoit Laliberte was convicted in 2008 and 2009 on 44 counts of stock fraud, market manipulation and deceiving investors.
UAMA filed fraudulent Pink reports in 2019 & 2018 and those Reports signed by Benoit Laliberte in his roles as President, CEO and CFO of United American Corp.
Benoit Laliberte, President, CEO and CFO of United American Corp (UAMA) claimed "NO" to questions on convictions within the past 10 years.
The evidence is clear (See 2019 Q1 & Q2 and 2018 YE Pink Quarterly Reports disclosure documents) and note responses to #8 of the Pink disclosure documents.
SEC conviction in identical case to UAMA CEO violations!
Benoit Laliberte claimed "NO" to question in Pink disclosure documents to question on "prior convictions in past ten (10) years! Clearly a falsehood as there is evidence that the Court's decision on the AMF appeals resulted in Judges decision finding Mr. Benoit Laliberte guilty of three (3) additional counts in 2009. Evidence is clear and unambiguous!
Brooks did same thing only he was small time compared to the 44 convictions amassed by Benoit Laliberte for stock fraud, market manipulation and deceiving investors.
It's a fact: - Benoit Laliberte signs as President, CEO and CFO of UAMA - claims "no violations in past 10 years" in Pink report - Court found him guilty v AMF in 2009 on additional 3 counts
So Mr. Benoit Laliberte did knowlingly commit fraud in these UAMA reports.
UAMA CEO convicted criminal, bankrupt! Never forget!
He has been labeled as such by The Canadian Press. You can rest assured it is true as Mr. Benoit Laliberte has not filed suit against this news organization.
Mr. Benoit Laliberte is President, CEO & CFO of UAMA! All three positions held by Mr. Benoit Laliberte who was found guilty on 44 of 48 counts, stock fraud, market manipulation and deceiving investors.
What kind of a company has convicted criminal President, CEO and CFO? CAVEAT EMPTOR.
evidence:
"Montréal – In a decision handed down on April 28, 2009, Judge Richard Wagner of Superior Court (Criminal and Penal Division), district of Montréal, found Benoît Laliberté guilty of three of the four charges under an appeal launched by the Autorité des marchés financiers (AMF) in September 2008.
At the request of the AMF, the Court thereby quashed the acquittal verdicts issued by Judge Céline Lacerte-Lamontagne in February 2008 in respect of charges 6, 9 and 38. Specifically, the AMF succeeded in its appeal in respect of two charges related to an insider's obligation to report transactions within the time period prescribed by law and in respect of one charge related to making misrepresentations in a press release."
and more evidence:
CP (Canadian Press) PUBLISHED FEBRUARY 22, 2008 (Toronto Globe & Mail) UPDATED APRIL 26, 2018 (Toronto Globe & Mail) The former head of Jitec Inc. was convicted yesterday of insider trading and deceiving investors while pumping up the value of his now-defunct Montreal high-tech firm. A judge found Benoit Laliberte, 35, guilty on 41 of 48 counts of breaking Quebec's securities laws. Quebec's securities regulator will seek about $1.5-million in fines plus costs from Laliberte for manipulating share prices while the company was listed on the Montreal Stock Exchange. Thirty of the convictions were for failing to disclose changes in Laliberte's control over Jitec shares. The rest of the counts were for insider trading, deceiving investors in news releases and inflating the value of contract.
Then there's the FAILURE to properly disclose material PERSONAL BANKRUPTCY to investors and in SEC filings. Evidence in CCAA Proceedings before the Supreme Court of BC produced the following:
49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed to be an officer and/or representative of a variety of companies in the TNW Group, most recently being Teliphone and Investel Capital Corporation.
Ask yourself, "What kind of company has convicted criminal CEO?"
Then ask yourself, "What kind of a company has a bankrupt CEO"
SEC revoked listings of both Inelco and Teliphone.
Could SEC REVOKE UAMA just like Inelco and Teliphone?
Inelco and Teliphone also run by Benoit Laliberte! All shareholders will be wiped out! History will repeat itself with these fraudsters!
SEC action supported by case law!
Nearly identical infractions though Benoit Laliberte was found guilty of 44 of 48 counts of stock fraud, market manipulation and deceiving investors. So Laliberte clearly outclasses Brooks on number of convictions!
Read the link to see how the SEC prosecuted this identical case:
Should be a "plug and play" case for the SEC with UAMA and Mr. Laliberte and likely just a matter of time before action taken.
Formal complaints have been filed with SEC and now at State level.
Maybe, just maybe, due to volume of prior convictions in Canada they'll set fine far above level he can pay and he'll face the incarceration he should have received in Canada.
UAMA wireless initiative could have been $40M success! Could have been $40-60M in revenue by now with 40-60% EBITDA. Benoit Laliberte, UAMA CEO killed it through ignorance and mismanagement. No way to bring it back now as Bell, Rogers and Telus have overbuilt and don't need roaming agreements with TNW Wireless Inc. any longer. Laliberte killed business by quickly alienating Bell, Rogers and Telus. Such a clown! Just think $40M+ in revenue vs pathetic crypto mining revenues!
Lawsuits, excuses and in the end very mediocre performance, read the 1Q-2019 financial report to understand troubles across the enterprise.
Mr. Laliberte is responsible for the many serial failures of UAMA et al.
Biggest of course, the $47M bankruptcy of Teliphone-Navigata-Westel (TNW). Filed in November 2016 and still going in the Supreme Court of BC, though all assets sold off and employees gone.
Jitec, Inelco, Teliphone, TNW Networks, TNW Wireless and a few numbered companies have all failed under Mr. Laliberte. In fact, he has never built a business of lasting value. Any real company would have dumped such a CEO long ago!
Crypto-currency mining and the sophomoric Blockdomes have failed in their own way. Apparently shut-down in 2020 as they couldn't operate profitably, though apparently restarted despite Quebec Court ordered shut-down of mining operations and restoration of the land to agricultural use. Latest quarterly report says they had to seek creditor protection from the power company. Now a law suit against the power company and admission that should they be forced to shut down Blockdomes at the current location the company will incur significant expenses to secure new facilities, move and restore the land.
Reading between the lines suggests gross mismanagement. Who builds in violation of land-use regulations? Dumb, really dumb! But lots of evidence of gross mismanagement.
Like purchasing RuralCom Corp, a market-ready wholesale carrier with roaming agreements in place. Fired the CEO, who had supportive investors with issued term sheets, the Laliberte approached those same investors to do an end-run. Investors showed him the door and TNW Wireless failed on the starting blocks.
Read 1Q UAMA Report, a deeply troubled enterprise.
Lawsuits, excuses and in the end very mediocre performance
Mr. Laliberte is responsible for the many serial failures of UAMA et al.
Biggest of course, the $47M bankruptcy of Teliphone-Navigata-Westel (TNW). Filed in November 2016 and still going in the Supreme Court of BC, though all assets sold off and employees gone.
Jitec, Inelco, Teliphone, TNW Networks, TNW Wireless and a few numbered companies have all failed under Mr. Laliberte. In fact, he has never built a business of lasting value. Any real company would have dumped such a CEO long ago!
Crypto-currency mining and the sophomoric Blockdomes have failed in their own way. Apparently shut-down in 2020 as they couldn't operate profitably, though apparently restarted despite Quebec Court ordered shut-down of mining operations and restoration of the land to agricultural use. Latest quarterly report says they had to seek creditor protection from the power company. Now a law suit against the power company and admission that should they be forced to shut down Blockdomes at the current location the company will incur significant expenses to secure new facilities, move and restore the land.
Reading between the lines suggests gross mismanagement. Who builds in violation of land-use regulations? Dumb, really dumb! But lots of evidence of gross mismanagement.
Like purchasing RuralCom Corp, a market-ready wholesale carrier with roaming agreements in place. Fired the CEO, who had supportive investors with issued term sheets, the Laliberte approached those same investors to do an end-run. Investors showed him the door and TNW Wireless failed on the starting blocks.
Mr. Laliberte is responsible for the many serial failures of UAMA et al.
Biggest of course, the $47M bankruptcy of Teliphone-Navigata-Westel (TNW). Filed in November 2016 and still going in the Supreme Court of BC, though all assets sold off and employees gone.
Jitec, Inelco, Teliphone, TNW Networks, TNW Wireless and a few numbered companies have all failed under Mr. Laliberte. In fact, he has never built a business of lasting value.
Crypto-currency mining and the sophomoric Blockdomes have failed in their own way. Apparently shut-down in 2020 as they couldn't operate profitably, though apparently restarted despite Quebec Court ordered shut-down of mining operations and restoration of the land to agricultural use. Latest quarterly report says they had to seek creditor protection from the power company. Now a law suit against the power company and admission that should they be forced to shut down Blockdomes at the current location the company will incur significant expenses to secure new facilities, move and restore the land.
Reading between the lines suggests gross mismanagement. Who builds in violation of land-use regulations? Dumb, really dumb! But lots of evidence of gross mismanagement.
Like purchasing RuralCom Corp, a market-ready wholesale carrier with roaming agreements in place. Fired the CEO, who had supportive investors with issued term sheets, the Laliberte approached those same investors to do an end-run. Investors showed him the door and TNW Wireless failed on the starting blocks.
Any UAMA MVNO initiative will be colossal failure!
Mr. Laliberte, UAMA CEO and Mr. Trevor-Deutsch have no relevant wireless industry experience and if they pursue MVNO as mentioned in latest Pink disclosures and latest quarterly financials, it will end up being a colossal failure.
MVNO talk is only to divert attention from deeply troubled crypto-currency operations. Like the Quebec Court ordering shut-down of the miners and restoration of the land to agricultural use. BS from UAMA says that they expect to seek a judicial review, though anyone familiar with the miscreants that run UAMA will suspect that appeal to go nowhere. Seems management likes to litigate though there is little evidence that this litigation has ever brought value to the enterprise.
Adding to the troubled crypto-currency operations of UAMA is the revelation that they were forced to seek creditor protection to keep the local power company from cutting off the power. UAMA et al sued and "before the court" as they say though likely just another smokescreen to coverup incompetence and fraudulent management practices.
So plenty of reason to try and divert attention away from crypto-currency operations.
UAMA et al has no cash and with convicted criminal CEO (per The Canadian Press) nearly impossible to raise capital.
If they really do attempt to launch an MVNO it will be a colossal failure. I built the largest cellular resale organization in the US and I know what it takes. Talent, industry knowledge, industry contacts and relationships and CAPITAL.
In recent filed UAMA reports indications management looking to emerge as a MVNO.
Predictably that will end up as a colossal failure as Laliberte and Trevor-Deutsch have no relevant experience in wireless.
RuralCom Corp was market-ready as a wholesale carrier with roaming agreements an opportunity they presumably understood. However, under Laliberte this business stalled and failed to get off the ground. If they kept the CEO and his financial supporters that business would likely be generating $40-60M today with about 40% EBITDA. Needless to say market cap would have been a lot higher today if that had happened.
Laliberte fired that CEO and expected he could do an end-run with the investors. Needless to say those investors not impressed and Laliberte shown the door!
So now after screwing up that opportunity Laliberte thinks he wants to be an MVNO. What a crock! UAMA has neither the expertise, experience or capital to succeed in this highly competitive distribution business.
Having alienated both Telus and Bell you have to wonder if they will even be able to get a resale agreement with one of the national facilities-based wireless carriers. Rogers?
Predictably launching an MVNO under this management without the substantial capital required will end up as a colossal failure!
If UAMA launches MVNO it will hasten demise! Management has no relevant experience in running a wireless distribution business, doesn’t have the carrier contacts or relationships and doesn’t have the substantial capital required to succeed. Latest quarterly report suggests this the new direction. Any MVNO launched by UAMA will be a colossal failure!
Lower mining revenues are UAMA reality, though risky! Crypto mining revenues at substantial risk and may be operating in contempt of court following court order to cease mining ops and restore the land to agricultural use. Also Cetaq reportedly sought creditor protection from local power company powering Blockdomes!
UAMA Blockdomes a failure. Nobody cares! UAMA management had big vision for crypto-mining campus which went nowhere! Why? Nobody cares and Cetaq, UAMA a real nothing on the Canadian scene and no support from the mining community. Market likes Hut 8 a lot, UAMA not even a real player. Like everything else with LALIBERTE , UAMA just another failure like Jitec, Inelco, Teliphone, Navigata, Westel, Investel, and a few numbered companies. An astounding track record of serial failures and notably Mr Laliberte has never built a business of lasting value!
If UAMA starts MVNO it will be a colossal failure.
Benoit and Lawry know nothing about wireless and less about wireless distribution.
They have no experience in running a highly competitive business, have no relevant sales or marketing experience and they have failed at most everything they've tried.
Any REAL company would have fired both of them and brought in somebody to turn this POS around.
Benoit's ego too big for that so don't bet your money on a win here!
Jitec should have landed Benoit Laliberte in jail.
Then there's Inelco and Teliphone which had their NASDAQ listings revoked by the SEC.
The $47M bankruptcy of Teliphone-Navigata-Westel (TNW) was their crowning achievement in 2016, though it is still in the court. No matter though as all assets sold off and all former employees gone!
Undischarged personal bankruptcy of Benoit Laliberte, UAMA CEO has gone on for over ten (10) years!
Mr. Laliberte was convicted on 44 counts of stock fraud, market manipulation and deceiving investors in 2008-2009.
He has been labeled as such by The Canadian Press. You can rest assured it is true as Mr. Benoit Laliberte has not filed suit against this news organization.
Mr. Benoit Laliberte is President, CEO & CFO of UAMA! All three positions held by Mr. Benoit Laliberte who was found guilty on 44 of 48 counts, stock fraud, market manipulation and deceiving investors.
What kind of a company has convicted criminal President, CEO and CFO? CAVEAT EMPTOR.
evidence:
"Montréal – In a decision handed down on April 28, 2009, Judge Richard Wagner of Superior Court (Criminal and Penal Division), district of Montréal, found Benoît Laliberté guilty of three of the four charges under an appeal launched by the Autorité des marchés financiers (AMF) in September 2008.
At the request of the AMF, the Court thereby quashed the acquittal verdicts issued by Judge Céline Lacerte-Lamontagne in February 2008 in respect of charges 6, 9 and 38. Specifically, the AMF succeeded in its appeal in respect of two charges related to an insider's obligation to report transactions within the time period prescribed by law and in respect of one charge related to making misrepresentations in a press release."
and more evidence:
CP (Canadian Press) PUBLISHED FEBRUARY 22, 2008 (Toronto Globe & Mail) UPDATED APRIL 26, 2018 (Toronto Globe & Mail) The former head of Jitec Inc. was convicted yesterday of insider trading and deceiving investors while pumping up the value of his now-defunct Montreal high-tech firm. A judge found Benoit Laliberte, 35, guilty on 41 of 48 counts of breaking Quebec's securities laws. Quebec's securities regulator will seek about $1.5-million in fines plus costs from Laliberte for manipulating share prices while the company was listed on the Montreal Stock Exchange. Thirty of the convictions were for failing to disclose changes in Laliberte's control over Jitec shares. The rest of the counts were for insider trading, deceiving investors in news releases and inflating the value of contract.
Then there's the FAILURE to properly disclose material PERSONAL BANKRUPTCY to investors and in SEC filings. Evidence in CCAA Proceedings before the Supreme Court of BC produced the following:
49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed to be an officer and/or representative of a variety of companies in the TNW Group, most recently being Teliphone and Investel Capital Corporation.
Ask yourself, "What kind of company has convicted criminal President,CEO and CFO?"
Then ask yourself, "What kind of a company has a bankrupt President, CEO and CFO?"
Lawry and Benoit (like to call's Bert & Ernie) have no relevant wireless experience. None has accomplished anything in wireless and their pathetic appearances before the CRTC didn't help.
Their track record in other areas is miserable. Neither has built a business of lasting value or one that was acquired by others. Natures way to telling you their presence doesn't create or expand value.
Any real company would have fired both of these pretenders.
Fact is the $47M bankruptcy of Teliphone-Navigata-Westel totally gutted the enterprise.
Not helped by convicted criminal status of Benoit Laliberte, UAMA CEO as reported by The Canadian Press. He's also been an undischarged bankrupt for over ten (10 years). Now reportedly lives in Florida. Wonder if he has legal right to reside in the US or just here as part-year visitor.
While he's enjoying the Florida weather and beaches, Cetaq, Blockdomes et al in Quebec are failing fast and now just renting old abandoned processors to third-parties.
Recent fraud-speak from company says they're looking to become an MVNO in BC and the Yukon. Don't expect that to even get off the ground. Don't have cash or trade credit or relationships with key facilities-based carriers (Telus and Rogers) to get resale and roaming agreements. Then there's the not so small matter of getting smartphones that subscribers will actually buy. As someone who built the largest cellular resale business in the US I can say with authority that they don't have what it takes!
UAMA is doomed and destined to FAIL. Good chance it will be this year!
Fact is the $47M bankruptcy of Teliphone-Navigata-Westel totally gutted the enterprise.
Not helped by convicted criminal status of Benoit Laliberte, UAMA CEO as reported by The Canadian Press. He's also been an undischarged bankrupt for over ten (10 years). Now reportedly lives in Florida. Wonder if he has legal right to reside in the US or just here as part-year visitor.
While he's enjoying the Florida weather and beaches, Cetaq, Blockdomes et al are failing fast and now just renting old abandoned processors to third-parties.
Recent fraud-speak from company says they're looking to become an MVNO in BC and the Yukon. Don't expect that to even get off the ground. Don't have cash or trade credit or relationships with key facilities-based carriers (Telus and Rogers) to get resale and roaming agreements. Then there's the not so small matter of getting smartphones that subscribers will actually buy. As someone who built the largest cellular resale business in the US I can say with authority that they don't have what it takes!
UAMA is doomed and destined to FAIL. Good chance it will be this year!
AMF knows all about Benoit Laliberte, UAMA CEO. Scroll down to read CEASE TRADE ORDER.
Appealed earlier dismissals and AMF succeeded in convicting Laliberte on an additional three (3) charges in 2009. Those added to other 41 charges where Laliberte was found guilty of stock fraud, market manipulation and deceiving investors in 2008.
I do believe keeping this Cease Trade Order in place protects the public from these fraudsters.
AMF Cease Trade Order Announcement | 03/26/2020
DECISION No 2020-IC-0005
File No. 43804
March 26, 2020
Cease Trade Order
United American Corp. (the "Issuer") is a reporting issuer of the over-the-counter market in Quebec subject to Regulation 51-105 on issuers listed on over-the counter markets American, CQLR, c. V-1.1, r. 24.1 ("Regulation 51-105");
The issuer has failed to file with the Autorite des marches financiers (the "Authority") the documents and information required under section 73 of the Securities Act, CQLR, c. V-1.1 (the "Law") and section 5 of Regulation 51-105 (the "default");
Given the failure of the issuer to remedy the default on the date of this decision;
Considering Articles 265, 267 and 318 of the Law;
Given the powers delegated in accordance with article 24 of the Law on the supervision of the sector financial, RLRQ, c. E-6.1.
Consequently, the Authority:
banned United American Corp. and its securityholders, brokers and their representatives, as well as to any other person, any activity related to operations on values of the reporting issuer in the over-the-counter market because the latter did not in compliance with the obligations set out in Regulation 51-105.
The Authority may revoke this decision under section 318 of the Act if the issuer remedy the default satisfactorily.
Martin Latulippe Continuous Information Director OGI / ale
Evidence of fraud in history of UAMA, as are 44 convictions for STOCK FRAUD, MARKET MANIPULATION and DECEIVING INVESTORS!
Following warning prominently displayed on OTC Markets page for UAMA:
Warning! This company may not be making material information publicly available Buying or selling a security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
Like $47M bankruptcy of Teliphone-Navigata-Westel (TNW) which totally gutted assets and employee base.
Inelco and Teliphone NASDAQ listing revoked by SEC.
Quebec Court issued shuts-down order on Blockdomes and those likely operating in contempt of court.
TNW Wireless a colossal failure. No working network, no subscribers, no roaming agreements and no revenue. Now they talk about operating as an MVNO which will predictably end in another failure.
When you look back at history it becomes obvious that the CEO and his cohorts have NEVER built a business of lasting value.
Predictably the future holds nothing more for UAMA.
Cetaq, UAMA et al nowhere to be found in list of Canadian miners!
That's how small Blockdomes is.
Nobody except for the Quebec Court cares about Blockdomes. Court cares enough to issue shut-down order and Cetaq, UAMA et al likely operating in contempt of Court.
Meanwhile real miners like Hut 8 really growing fast and building value for shareholders.
UAMA continues as a Laliberte-inspired serial failure.
Cetaq, UAMA et al nowhere to be found in list of Canadian miners!
That's how small Blockdomes is.
Nobody except for the Quebec Court cares about Blockdomes. Court cares enough to issue shut-down order and Cetaq, UAMA et al likely operating in contempt of Court.
Meanwhile real miners like Hut 8 really growing fast and building value for shareholders.
UAMA continues as a Laliberte-inspired serial failure.
Can't raise capital to do anything. CEO is the problem as his reputation, his convictions and a really poor track record of serial failures all combine to kill any future for UAMA.
$47M bankruptcy of Teliphone-Navigata-Westel (TNW) totally gutted asset and employee base.
UAMA never properly disclosed above bankruptcy or personal undischarged bankruptcy of Benoit Laliberte, UAMA CEO. He has been an undischarged bankrupt for over ten (10) years according to evidence presented in Supreme Court of BC. All material information.
Benoit Laliberte was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors back in 2008 and 2009. Also never properly disclosed as material information.
Of course, being named in SEC Whistleblower evidence filings maybe of concern for them.
"fromthepuke", "cryptocrap" and "bitblack" etc mute as UAMA winds down and burns through what little capital they have.
Take a look at the financials under operating expense. No paid staff, and likely Bert and Ernie working for nothing as they sell off their stock.
Expect it's like an ATM machine for them these days, though won't last long and if AMF Quebec can get some evidence the "family" is selling off stock that should prove interesting.
AMF knows Laliberte all too well and managed to get him convicted of three additional charges back in 2009.
Benoit Laliberte blew market-ready acquisition of RuralCom Corp. That company had spectrum licenses, in-bound roaming agreement from AT&T, Verizon, T-Mobile and Sprint and a small but usable 3G network along the BC North Coast and the Alaska Highway. Benoit thought he'd fire the RuralCom CEO and do an end-run with the outside investment bankers who followed and supported him. Well guess what? When dummy Laliberte picked those investors they all showed him the door.
Yes, he's that ignorant of the wireless industry. Doesn't have the industry contacts and now can't raise capital from institutional sources due to that ignorance, the $47M bankruptcy of Teliphone-Navigata-Westel, and his convicted criminal status per The Canadian Press.
But.....only if they can get a resale agreement from Bell, Rogers or Telus the main owners of wireless network facilities in BC and the Yukon.
Never mind TNW Wireless, UAMA et all don't have"
1) Capital to secure resale agreements
2) Capital to inventory wireless smart phones
3) Marketing smarts to organize marketing in media, setup stores or distribution channels, etc. etc.
4) UAMA won't gain access to national markets and limited to BC and the Yukon.
5) Over 12 MVNOs already up and running in Canada.
So bottom line competition will eat them alive. Nobody cares about useless iPCS which does nothing for the consumer. It's a solution to a question nobody is asking including the carriers which didn't even give it a second look. Nature's way to saying iPCS is junk!.
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