Omega Commercial Finance Corp (fka OCFN)

[kd1911]

Not mortgage fraud, a ponzi scheme. The CEO's brother was convicted on I believe 17 counts of wire fraud for a ponzi scheme he orchestrated. There was a fake hedge fund. He had several people involved. They bilked people out of millions. The SEC disgorgement was I believe over $14 million and the restitution on the federal criminal case was I think $8.3 million. You can look it all up online. Google Von Christopher Cummings and Paramount Financial Partners and you can read all about their convoluted scams. He's Jon's (CEO) brother and while he is not technically a part of OCFN anymore, he's always getting sued with them for things he's done as their agent. It seems to me that he runs this company, not Jon. He was a big part of the lawsuit they settled late last year with Madison Boardwalk who was suing them for over 9 million. They were totally trying to scam Madison Boardwalk. Read the judge's orders on that case to see a typical Omega Commercial Finance deal. Maybe the settlement with them is where a lot of these debentures are coming from. OCFN certainly had no money to buy them off with. They owe $2.3 million in judgments they never pay on, including one from 2008 for I think $1.5 million that I believe accrues interest at the rate of 11% per annum.

http://www.sec.gov/litigation/complaints/complr17581.htm

These guys are deluxe scammers. Every deal they tout falls through. They don't make any money. Omega Commercial Finance Company has no employees. They have a crappy rented office. They have hardly anything in the way of assets How could they have anything? Their judgment creditors would take it. They have subsidiaries, but my guess is they mainly just exist on paper and OCFN uses them to hide assets.

I'm just giving my opinion here, but look into this company. Look at all the deals they've touted in the past. Everything falls through. Look at the many lawsuits against them. Look at their financials. Anyone who does real due diligence on this company would end up with the same opinions that I have on them. They're scammers through and through and if you put a lot of money into this company you are probably going to lose it. If you catch it early on in one of their pump and dump campaigns you might make some money, or it could just be something like this where shares are being dumped like crazy.

How many shares are out there now? It was something like 56 million or something like that, right? Maybe it was half that after their 20,000 to 1 reverse split and they issued some more? I don't know, but look at the volume and consider the fact that they have unlimited shares they can issue and between that and debentures we have no idea how many are actually out there now. It can't be 28 million. It can't be 56 million. Surely we're not seeing the same shares being bought and sold everyday, that kind of turnover of all the outstanding shares. I'm really curious to see the SEC filings over the next few months. How many gozillian shares of this worthless company are there now?