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.0059 Lets move higher!!!
This board got some props in this article.
Thursday, 20 January 2011 Print Article Bookmark page Email Article
Long Island hedge fund, NIR Group, probed in plot to inflate asset value
The criminal investigation into NIR Group looks like a Madoff copycat scheme to defraud investors by overstating the value of assets. Investigators are also probing allegations of kickbacks
By Alan Fein
(AXcess News) New York - After a two-year long probe by federal and state authorities, the WSJ revealed earlier today that Long Island-based hedge fund NIR Group is being criminally investigated over its alleged misrepresentation of asset valuation to its investors. At the heart of the probe is Mr. Corby Ribotski who heads up the fund.
Bernie Madoff Junior?Ribotski has come under fire over his handling of investor assets which in 2008 where held up to investors as being worth $780 million. The Journal story said that the hedge fund operator portrayed his fund "as having eight straight years of profits, beginning in 2001," though authorities are now questioning the fund manager's figures ever since NIR Group has been unable to find anyone who would provide a third-party valuation, let alone audit NIR Group's 2008 yearend results.
Breaking News - Two Years Ago
In December, 2008, AXcess News broke a story in which Ribotski's NIR Group took center stage following the downfall of Bernie Madoff in what was the lulu of all Ponzi schemes to hit Wall Street. Only in NIR's case the investigation isn't about assets that didn't exist, though their value is questioned as being so low authorities are dumbfounded as to how Ribotski could have kept it up for eight years.
In the 2008 story, "Madoff Scandal Tip of Iceberg in World of Seedy Hedge Funds", AXcess News reported that investors in Ribotski's NIR Group where growing more and more discontent to the extent that a chat board had been set up on Investorhub.com about Mr. Ribotski and his company.While Ribotski's lawyers placed AXcess News on notice, the story was not recanted. In fact, Forbes picked up on the Ribotski story even earlier saying he had "a history of questionable business dealings and unpaid bills," though that hardly qualifies as "guilt by media" but looking back at my 2008 story I am grateful to see the WSJ finally giving NIR Group the once over, even if it is two years later.
In that Story I wrote: "Men like Mr. Ribotsky never make the press when compared to the Bernie Madoff's of Wall Street perhaps because the investors aren't big enough to matter to the New York Times, WSJ or others."
While the Wall Street Journal said Ribotski's NIR Group was being probed over $780 million in questionable asset value, an October, 2008 story by FINalternatives said NIR Group had $7 billion under management. Seems the Feds are off a bit, which may mean the investigation by regulators will broaden.
So far Ribotski has not been charged with any wrongdoing.
Kickback Scheme
Reuters echoed another aspect of the probe as reported by the Journal claiming individuals where under investigation for their role in a kickback scheme meant to inflate the value of NIR Group's assets. The FBI, SEC and the U.S. Attorney's office in Brooklyn, NY are involved in the investigation, Reuters noted.
Rehashing the News
FINAlternatives basically rehashed the crux of the WSJ story as well, never mentioning its October, 2008 $6 billion difference in funds under management - funny they missed that - though sidebar links did list other stories NIR Group was mentioned in.
Forbes, which has covered Ribotski on more than one occassion, missed today's window of mediatunity and didn't cover the probe at all, though a story could be in the works.
I can only say, that these major publications everone turns to for 'breaking news' on Wall Street might do better to follow those reporters who live in the trenches (hint, hint). As to the outcome of the NIR Group's criminal investigation, I say, wait...as stones turned by the Journal have a tendency to show themselves for what they are, given time. Its a shame AXcess News was never mentioned for having broke the story in the first place, perhaps the next round of news will note that. Stay tuned!
I have been thinking that all day. I am looking forward to the candle being up for a long time. It has been a while since we had a run.
Long Island hedge fund, NIR Group, probed in plot to inflate asset value
The criminal investigation into NIR Group looks like a Madoff copycat scheme to defraud investors by overstating the value of assets. Investigators are also probing allegations of kickbacks
By Alan Fein
(AXcess News) New York - After a two-year long probe by federal and state authorities, the WSJ revealed earlier today that Long Island-based hedge fund NIR Group is being criminally investigated over its alleged misrepresentation of asset valuation to its investors. At the heart of the probe is Mr. Corby Ribotski who heads up the fund.
Bernie Madoff Junior?
Ribotski has come under fire over his handling of investor assets which in 2008 where held up to investors as being worth $780 million. The Journal story said that the hedge fund operator portrayed his fund "as having eight straight years of profits, beginning in 2001," though authorities are now questioning the fund manager's figures ever since NIR Group has been unable to find anyone who would provide a third-party valuation, let alone audit NIR Group's 2008 yearend results.
Breaking News - Two Years Ago
In December, 2008, AXcess News broke a story in which Ribotski's NIR Group took center stage following the downfall of Bernie Madoff in what was the lulu of all Ponzi schemes to hit Wall Street. Only in NIR's case the investigation isn't about assets that didn't exist, though their value is questioned as being so low authorities are dumbfounded as to how Ribotski could have kept it up for eight years.
In the 2008 story, "Madoff Scandal Tip of Iceberg in World of Seedy Hedge Funds", AXcess News reported that investors in Ribotski's NIR Group where growing more and more discontent to the extent that a chat board had been set up on Investorhub.com about Mr. Ribotski and his company.
While Ribotski's lawyers placed AXcess News on notice, the story was not recanted. In fact, Forbes picked up on the Ribotski story even earlier saying he had "a history of questionable business dealings and unpaid bills," though that hardly qualifies as "guilt by media" but looking back at my 2008 story I am grateful to see the WSJ finally giving NIR Group the once over, even if it is two years later.
In that Story I wrote: "Men like Mr. Ribotsky never make the press when compared to the Bernie Madoff's of Wall Street perhaps because the investors aren't big enough to matter to the New York Times, WSJ or others."
While the Wall Street Journal said Ribotski's NIR Group was being probed over $780 million in questionable asset value, an October, 2008 story by FINalternatives said NIR Group had $7 billion under management. Seems the Feds are off a bit, which may mean the investigation by regulators will broaden.
So far Ribotski has not been charged with any wrongdoing.
Kickback Scheme
Reuters echoed another aspect of the probe as reported by the Journal claiming individuals where under investigation for their role in a kickback scheme meant to inflate the value of NIR Group's assets. The FBI, SEC and the U.S. Attorney's office in Brooklyn, NY are involved in the investigation, Reuters noted.
Rehashing the News
FINAlternatives basically rehashed the crux of the WSJ story as well, never mentioning its October, 2008 $6 billion difference in funds under management - funny they missed that - though sidebar links did list other stories NIR Group was mentioned in.
Forbes, which has covered Ribotski on more than one occassion, missed today's window of mediatunity and didn't cover the probe at all, though a story could be in the works.
I can only say, that these major publications everone turns to for 'breaking news' on Wall Street might do better to follow those reporters who live in the trenches (hint, hint). As to the outcome of the NIR Group's criminal investigation, I say, wait...as stones turned by the Journal have a tendency to show themselves for what they are, given time. Its a shame AXcess News was never mentioned for having broke the story in the first place, perhaps the next round of news will note that. Stay tuned!
Good having you around. Pic looks stunning.
I like Mel. Good Guy.
buy confirmed on American Bulls.
You can order one of those as a shareholder for under $7000.
My buddy that is about to buy a Wildcat dealership said there is a training day on the 4th of February for new dealers.
It is on the balance sheet. It just doesn't have a name beside it. You are really getting on my nerves!
HLNT is moving up nicely. In a contract with Dongfeng in China. up 30%.
13 on most active. Mr. Coats the CEO is running the company with the shareholders best interest in mind. He makes decisions with us in mind and that is why I believe the stock will do well in time. The stock has been going down because the shareholders do what is best in their interest and not the interest of the company. Have faith and quit selling at the bid.
Man this thing could explode with just a little volume. I think the stock is back in business!
Did you get to trade your vehicles out?
HLNT 14 on breakout board and Thin on Top. up 35% today.
Dollars
HLNT is heading up!
Not taking much to move it! I have only put in 2,000 and moved it quite a bit.
.0057!!! 35%
hit it at .0057. I am putting my buy in at .01 I figure we could get there.
I have not bought in a while but this looks promising!
I just hit it again. Loan you out there anywhere?
#15 on the board. Go let the breakout boards know. We may be on the verge of something good.
HLNT up 31% check for Breakout!!
ANYONE NOTICE
We are up 31% Lets keep it moving!!
Thanks.
I think whoever has been selling just quit. Give the ask some love and lets get back where we should be!
Im hitting the ask but need some help out there. .0055
Looks like something is about to happen.
Anybody got L2? Lets move it up.
I Just hit the ask. To .0054 lets keep it going!
Guys make sure you hold your head together here. This is being purposly driven down it is not dilution. The OS and AS were brought to this point on purpose by Chad a long time ago. He did not want a ton of extra shares hanging out their for fear of investors crying dilution. No there will not be a R/S so quit talking about it. In my opinion, and the opinion of most who have read about the lawsuit, Highline will win! Old CEO photocopied peoples signatures, fraud, etc. Hump being in the pen does not hurt either. NIR is under other investigations right now.
It is hard to say that a lawsuit is a good thing but with the kind of evidence it appears they have I don't know how they could lose. If you have not read it, it is posted on here somewhere.
Obviously we have bashers coming in to drive this down. They are doing it to scare you into selling, drive it down for a third party and get paid for it. It will stop soon and bounce. It has happened before on here. Not our first experience with it. Of course make up your decision on how you are going to play this one but the company is business as usual. Hoss is arriving soon. Not soon enough but it is coming and will make an impact. They might be pushing it down for cheap shares in anticipation of that good news. All of this is in my opinion. Make up your own mind and trust your gut not people who set on a message board.
This lawsuit has been going on for some time now. It is not that it started this week. It is business as usual there. Don't think that they are stopping everything to take care of this lawsuit. They are still working hard to make this business work. Hoss is coming soon. This alone will give us exposure all over the US and maybe worldwide. Their will be a marketing campaign coming out and sales nationwide. It will be big. Remember this is another source of income that the business did not have last year. Hey when the price per share goes down there are always the people coming out saying the sky is falling blah blah blah. Trust me if Highline didn't think they could win this lawsuit they would not be fighting it. It will be won. The company will be stronger and the stock will follow. IMO. This is not the first time pps has fallen stay in there it will head north again. Stepping off my soap box.
I think the shares in question on the lawsuit were dumped right after SSEV picked up Highline, HOSS and Bo TIE. That was before the run up to where we are now. That is my opinion but the company has never diluted or dumped shares and the price went from .36 to .0004 during that time. I bought at .34.
Pretty sure I don't want to be involved in a LOVE FEST with any of you guys but I agree things are coming together. I was born in the 80s and just missed the free love era. This new HOSS is going to be incredible. I am eagerly awaiting seeing it in person. Peace.
shes a beaut Clark.
Did you notice your bull fighter has bull feet? Could be horse?
I guess the difference between .006 and .0063 is a lot to these people. It would be a lot healthier for all of us on the ask.
My opinion on the pops is that someone is buying in their positions at the ask. When they do that they trigger % alerts and get some help from the longs to push it up. Day to day we have people always going for "cheaper shares". This drives the price down until someone else buys in at the ask consistantly. The volume is still pretty low. I figure 5,000 at the ask would drive it back to the 7s if bought a little at a time. If you do it all at once it will get swallowed. Just my opinion. I haven't talked to anyone down their in a couple of weeks. I heard a person I referred became a dealer in South Arkansas so add another one to the list.
It has that trend everytime we have a low volume start.