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I am a little confused. If someone had been in this business for 20 yrs.
Why do dd to find out the occupation of a defendant in a lawsuit and not do dd to find out why heartland could not get a salvage permit for a treasure wreck they found over 10 yrs ago?
I would also think that someone in the business for so long, would know that most FL. treasure hunting companies do not work after October and if they are public companies. Then their stock price usally declines after October. Unless they find treasure.
Something does not sound right.
No, reread my post. I do not think either one of those Lawsuits is worthless.
I believe that both lawsuits for Libel, against individuals that call sfrx a scam. A Good thing.
Those Lawsuits are to protect SFRX and the share price for investors.
The Lawsuits should serve as a warning to anyone that wants to Libel anyone that sfrx will not tolerate false claims against the company.
When I met with Kyle, it was to talk about treasure. That is why this company was formed.
As far as Lawsuits?
I think it is a great idea, if someone wants to Libel SFRX.
WHY would any real shareholder want sfrx to allow anyone to Libel sfrx and drive the share price down?
As far as the first lawsuit? It served its purpose. That person no longer posts false statements to drive investors away.
As far as the current Lawsuit? I approve. No one should be allowed to post false claims against sfrx, to drive the share price down.
And if as you stated. The defendant owns a pest control business. Then I think sfrx will get money for the false claims against the company.
If nothing else, the lawsuit prevented the defendant from posting under his old alias and will serve as a warning to anyone else that wants to make false claims and Libel SFRX.
Saturday, November 8, 2014
Judge orders emerald attorneys to court
BY ADAM LINHARDT Citizen Staff
alinhardt@keysnews.com
A federal judge wants a prominent corporate lawyer and his Delaware-based firm in Key West to explain this month why they shouldn't pay legal fees to the most famous treasure salvage company in the Keys after it exposed a bogus emerald find.
The Mel Fisher salvage company, Motivation of Key West, has been in court for more than a year regarding a sanctions lawsuit that accuses attorney Bruce Silverstein and his firm, Young Conaway Stargatt and Taylor, of perpetuating a fraud on the court.
Silverstein and his firm represented the treasure hunting company JTR Enterprises LLC, a Delaware company created to hold ownership of the emeralds. Silverstein had an indirect ownership interest in the treasure company, according to court records.
U.S. Senior District Judge James Lawrence King has ordered all the parties involved in the scheme to Key West on Nov. 19 to explain further in light of Motivation's accusations.
Motivation, headed by Mel Fisher's son, Kim Fisher, spent millions working the last four years to prove that the cache of emeralds purportedly found off Key West by JTR was a hoax.
Now-deceased real estate developer cum novice treasure salvor Jay Miscovich and his company, JTR, were exposed in a January federal trial after an emerald dealer from Jupiter testified that Miscovich bought the emeralds from him. The dealer testified the emeralds were worth $60,000 -- not the $500 million that JTR once claimed.
If King finds in favor of Fisher, that means Silverstein, his firm and another JTR backer named Paul Sullivan, a Hawaii resident and former deputy campaign manager for President Bill Clinton, could owe Fisher millions of dollars in attorney fees, or sanctions in legal parlance.
"I'm anxious to get this resolved and he (King) has ordered a final evidentiary hearing," Fisher said. "That sounds final to me; whether it is or not, who knows? But I would like to get it behind me. This has been going on for three years and been eating much of my time."
Fisher has been in court with JTR for the last three years. He first proved the emeralds were a hoax, and he's spent a better part of the last year arguing the sanctions aspect of the case.
Fisher's claims are not the only troubles facing Silverstein and his firm. They are now facing federal racketeering allegations as a wealthy investors group from New York hoodwinked early on in the emerald case filed a $10.2 million lawsuit against them last month.
That lawsuit contends that Silverstein and his firm violated federal racketeering laws by perpetuating the emerald hoax when they knew, or should have known, it was a scam.
The investors filed the 71-page lawsuit under the Racketeer Influenced and Corrupt Organizations Act, or RICO, a federal law that extends criminal and civil penalties against alleged criminal organizations.
Miscovich and his emeralds drew many onlookers to various courts over the last three years, from treasure salvors to Fisher investors to divers simply curious about the scheme.
Miscovich claimed to have found the cache of emeralds in international waters off Key West in 2010.
The treasure find even drew to Key West news crews from CBS' "60 Minutes," where they filed a segment called "The Trouble with Treasure" about Miscovich's find.
The segment ran before the hoax was revealed in court.
alinhardt@keysnews.com
DD is very important for any stock like SFRX.
Northofadollar, Before everyone gets upset. Perhaps they should do some research on how difficult it is to find and recover treasure.
Treasure is not found by having a map with an X on it.
My understanding is that sfrx has found some artifacts and are on the trail of a wreck that broke up in a hurricane. That trail could be several miles long. Once ballast stones and timbers are found. Then sfrx will be closer to putting the pieces together.
Weather plays a big part in treasure salvage. During rough weather in the winter, there will be many days that divers will not even be diving.
I do not know what the current is like on site #3. That could play a big factor also. I know from personal experience that there were days off of key west, when we could only do drift dives that were over 1/2 mile long.
I also remember rescuing 2 divers off of Palm Beach that we found over 1 mile apart and no where near their dive boat, when we traveled from Ft. Pierce to Miami. We found these guys by accident. So there are many reasons that this could take awhile to locate treasure. Or they may find it on their next dive.
I believe they are on the trail of a treasure wreck.
Capt mudd, more news about the emerald hoax in todayss key west citizen newspaper.
I will try and post the article later.
Yes it did. Attorney fees are not cheap. So much for it not costing the defendant Nothing.
Any news on how sfrx made out in court yesterday?
3 boats in one spot on site #3. You verified it and so did a few other posters who live in the area.
That is Good Enough for me.
Thanks, but no worries. If it is what it is? It will be caught early and I will be in FL keeping an eye on sfrx and bringing up treasure in key west before Christmas.
I think sfrx will hit a penny Before Friday.
I not only think sfrx will rise above double 8s by friday. I think it will rise above a penny.
It appears that we have new interest on the board and I think it means a big pump coming next week. I just hope it is not a short lived pump until they announce treasure on deck and it really takes off.
Sctts, thanks I knew that I heard or read somewhere about a lot of gold on the shipwreck.
Which is something the window washer failed to mention, when he said there was only 30 chests of silver coins on board.
jrf30, all those chests of silver coins would be nice.
I also remember hearing or reading somewhere that the sfrx researchers think there are a lot of gold coins on the shipwreck.
iTechiie, there is a saying in the treasure hunting industry.
That saying is— " There are no secrets." News almost always leaks out by someone on the scene.
I have not heard of anything new being found, but that does not mean anything. SFRX might be keeping a tight lid on finds OR, the rumor of a chest of coins could be true.
My point is, do not discount rumors
of treasure in this business.
HS, I think they will find treasure at some point. It may take a while with winter coming and weather.
Like Mel Fisher used to say, " If treasure Finding was easy? Everyone would be doing it."
Lawsuit
Case 4:14-cv 10079-JEM Page 9 of 74
The Co-Conspirators
14. Upon information and belief, until his death by suicide in October
2013, Jay E. Miscovich was a citizen of the Commonwealth of Pennsylvania.
15. Upon information and belief, Scott Miscovich is a citizen and
resident of the State of Hawaii.
16. Upon information and belief, Peter Tobia is a citizen and resident
of the State of New Jersey.
17. Upon information and belief, Stephen Elchlepp Jr. is a citizen and
resident of the State of Florida.
18. Upon information and belief, Scott Heimdahl (CEO of ORRV)
is a citizen and resident of the State of Illinois.
19. Upon information and belief, Anthony Santelli is a citizen and
resident of the State of Ohio.
Lawsuit
Case 4:14-cv 10079-JEM Page7 of 74
7. On July 25, 2014, Judge James Lawrence King of the United States
District Court for the Southern District of Flordia issued an Order to show
cause directing Silverstein, YCST and Paul Sullivan, Silverstein's business
partner and fellow investor in JTR, to appear before the Court and show
cause why they should not be sanctioned for bad faith litigation.
8. As a result of defendants participation in the FRAUD,
Plaintiff and Plaintiff's assignors not only were lulled into believing
that the Emerald find as legitimate, but were caused to incur millions
of dollars in out of pocket expenses, legal fees, forensic costs, plus
disbursements to protect their interests and investigate, examine and
ultimately uncover the Fraud. Such damages are not less then $3.4
million, trebled under the Florida andFlorida Racketeer Influenced
and Corrupt Organizations Act; plus punitive damages of not less
then $10,200,000.
HOT SPURS, My gut feeling would be the same as yours.
If all 3 boats have been anchored over the same spot for weeks? Then I would think they found something to peak their interest.
The million dollar question is. What did they find? I like to be positive and hope it is something good. If not, then maybe they should try with a proven treasure finding expert like Greg Bounds. Just my opinion.
Since this board is suppose to be about ORRV and not other people that have NOTHING TO DO WITH ORRV. This post will be ON TOPIC.
Onaroll, you are correct. It is not easy or they would have already found something.
I know I am going to regret saying this, but Raider21 is also right.
You have to have some people with real treasure hunting experience on site. Helping to direct the search.
Maybe KK has those people on site. No one knows.
I am not talking about the archeologists. They are great at research and identifying artfacts.
I will give you a perfect example. It deals in 2 examples of past experience that were used on the 1715 wrecks to find treasure.
Some companies drew a line from where cannons or ballast stones were found and the beach where coins where found by people metal detecting for coins on the beach. Not only does that show where the scatter trail is, it narrows down the search area.
If coins are found on the beach after storms. It also stands to readon that coins and shipwreck artfacts get trapped in depressions that run close to shore and are parallel to it.
I think site #3 is a treasure wreck. I am just saying. If something is not working ( and we do not know that at this point.) Why not try something different. Like hirering one of the experts from the 1715 wrecks. Like mr. BOUNDS as a consultant. Sure would not hurt.
Gregg the Greek, A few questions. If I remember correctly old Spanish Coins have been found on the beach by people metal detecting over the years in the area of SFRX's site #3.
Can you please tell me how far off of the beach that the cannon was found and in what depth of water?
If 1715 era Spanish Coins have been found on the beach by people metal detecting? And I think they have been. I am going to load up while everyone else is dumping. I'd also make KK a bet. I bet I could put his divers on coins within a week.
Reading the case about the child. It appears that the 2 year old was alone on the road at midnight. And was hit just after the driver was blinded by construction zone high intensity lights in his eyes. The driver never saw the child and thought perhaps it was a dog that ran in front of the car.
I guess that is why the State Police never charged the driver with an accident involving a pedestrian.
jfr30, it's funny how some people that are sued, Just never learn.
lindy1401. Nice post. On NOV 5th it looks like SFRX will get enough money to work through the winter and beyond. Now we need treasure to go with it.
Really? How much can you sell restricted stock for?
Until the restriction is lifted a broker can not sell it.
SG, if restricted stock is given for services rendered. Can they be cashed in Before the restriction is lifted?
So Restricted sfrx stock is not worth anything until it is sold. No sh!!
That is correct. I do not think this is going much lower.
If someome did some dd. I would bet that a ton of free shares were dumped on the market in the last month. These shares probably were given to promoters and promotors do not hold onto shares, once they can be cashed in for money.
Why wait? I don"t think the price is going much lower.
Yes, I will be buying a million shares, as soon as I cash in some other investments.
Well, I fall into the sfrx believer catagory.
I also fall into the catagory that knows treasure is not just laying in one spot on top of the sand.
Believe this. The 1715 wrecks that are around Sebastion inlet, were found over 50 years ago. It took Kip Wagner 2 years to recover treasure from the first wreck he found and they are still recovering treasure from those wrecks today.
So yes, I still believe in sfrx.
GTG, I'm shocked. You mean to tell me that SFRX has 3 boats out diving on site #3 and that they have found artifacts that are from the 1715 era?
And they did this without Buying a Treasure Map with an X marked on it from someone? Well that settles it for me. SFRX must be a Real Treasure Hunting hunting company, because the last treasure hunting company that I heard of that bought a treasure map with an X on it. Was found to be a Scam.
Imagine that SFRX is doing things the old fashion way. Hard work with lots of diving by Experienced Military Divers that are the best in the world.
Ex Navy Seals. Time for me to buy some cheap shares again.
Like I stated. The CURRENT ( that is todays sp) is double what the sfrx sp was a year ago. My math is fine because I have been following this stock for awhile.
Yes, it did hit 4 cents and some made a lot of money by selling at that price, but the bottom line is that the sp is still double what it was in 2013.
Are you implying that kyle is promoting a scam ? That he is spending investors money on vacations in the Bahamas, instead of treasure hunting?
Today's Newspaper article.
Looks like this Emerald case isn't going away. The article alludes to Federal Charges under the RICO Act. I hope ORRV isn't caught up in this. ORRV owned 10% of the company that was involved in the emerald scam.
http://keysnews.com/node/59093
GTG, It didn't take SFRX long to find the first cannon after their mag survey. I'm curious. Since cannons and anchors give off such big mag hits. Has sfrx uncovered any other cannons or anchors.
I know this is not treasure to some, but it would give us an idea of where the company is in uncovering the shipwreck.
Brez, that is not correct. I will not post the details here.
It is also public record that this would Not have become a court case if Jay and his Delaware Attorney would have allowed the Fishers emerald expert to examine the emeralds to see if they came from the Atocha. David Horan wanted Jay to let the Fisher's examine the emeralds. Jay declined. Thus the Court Case.
Jay bragged to more then one investor, that the emeralds came from the Atocha.