DD Support Board and Research Team

[scion]

07/23/2014 5 INFORMATION as to Cecil Franklin Speight (1) count(s) 1. (Lee, Tiffeny) (Entered: 07/24/2014)

Doc 5 PDF file
http://www.scribd.com/doc/235075495/USA-v-Speight-Doc-5-Filed-23-Jul-14

Extract -

I. Background

1. International Stock Transfer and Trust, Inc. ("IST") was a Florida corporation incorporated in 2004, with an office in Palm Beach, Florida. From March 22, 2004 through June 2013, IST was registered with the United States Securities and Exchange
Commission ("SEC") as a transfer agent. In general terms, a transfer agent is an entity that is assigned by a corporation to maintain records of its investors, account balances and transactions, to cancel and issue certificates and to process investor mailings. Typically, a transfer agent will forward money received from investors to the issuer of the securities being sold.

2. The defendant CECIL FRANKLIN SPEIGHT, also known as "Frank Speight," was a resident of Palm Beach, Florida. SPEIGHT was the sole owner, director and officer of IST from its incorporation in 2004 until its voluntary dissolution in June 2013.

3. Altmark Holdings, Ltd. ("Altmark") was an entity registered and headquartered in Turks & Caicos. In or about 2007, Altmark issued a series of high-yield bonds that were purportedly backed by mineral reserves and oil or gas rights. The series was held, in electronic form, in various accounts of participants in the Depository Trust Company ("DTC"), which is a registered clearing agency with the SEC. The Altmark bonds were issued a number by the Committee on Uniform Securities Identification Procedures ("CUSIP") that was registered to Altmark. A CUSIP number identifies most securities and is unique to each one. The bonds traded for a time on the Berlin Exchange, and IST was the registered transfer agent in 2007, responsible for paying interest to investors. Since June 2007, Altmark has never made an interest payment on these bonds.

4. Adfitech, Inc. ("Adfitech") was a Delaware corporation whose common stock was traded on the Over the Counter ("OTC") market and quoted under the trading symbol "ADFT."