VelaTel Global Communications, Inc. (OTCPK:VELA), formerly known as China Tel Group (CHTL), is a pump-and-dump scheme in which convertible notes were issued to Isaac Capital Group, making it a large stockholder. VELA now trades at less than .01 per share.
Like LIVE, Seven Arts Entertainment Inc. (OTCQB:SAPX) was a promoted, Nasdaq-listed stock in which Jon Isaac was a large stockholder, and Isaac Capital Group also held convertible notes. SAPX recently was named on FBI.gov as a fraudulent film tax-credit scheme. SAPX now trades at less than .01 per share.
With both VELA and SAPX trading below .01 per share, we are concerned that LIVE could be next.
Tim Matula is the senior vice president at LIVE and has been involved in multiple past pump-and-dump scams, leading us to believe he could be behind part of the current stock promotion of LIVE. He also is named as a defendant in a class-action lawsuit for violations of federal securities laws.
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