Saturday, January 11, 2020 1:43:06 AM
Inelco and Teliphone REVOKED by SEC! Stockholders totally screwed! Is UAMA Next?
1) US Pink-listed companies must file public disclosure documents.
2) Those Pink filing documents subject to SEC oversight especially when FRAUDULENT MISREPRESENTATION reported.
3) See following identical case:
Almost identical violations! Benoit Laliberte claims he had no prior criminal convictions within the past 10 years in the latest 2018-19 UAMA Quarterly Reports and Pink Disclosures. The evidence is clear he was found guilty on 44 of 48 counts of stock fraud, market manipulation and deceiving investors, with latest conviction in April 2009, clearly within the 10 year time period. UAMA Pink OTC market same as below and multiple violations so no accident.
Similar action against UAMA?
a) permanent injunction, and
b) a civil monetary penalty, and
c) officer-and-director bar, and
d) a penny-stock bar.
That would effectively protect the public market and investors by preventing Mr. Laliberte from acting in any capacity for a publicly-listed company. Action is long overdue in bringing Mr. Laliberte to justice for his well documented and evidenced fraudulent misrepresentation.
In case of Mr. Laliberte the quantity and seriousness of past convictions could result in the filing of criminal charges which could result in jail time for Mr. Laliberte. According to other posts on this board (Bilal Khabab) Mr. Laliberte never paid his fine to Quebec, has been an undischarged (and undisclosed) personal bankrupt for over ten (10) years and failed to properly disclose $47M bankruptcy of Navigata-Westel and receivership of Investel Capital Corp. Expect the SEC to take all of this into consideration when they get around to appropriate prosecution.
All of this will be devastating to UAMA and shareholders. Like INELCO and TELIPHONE both revoked by SEC? Same management team, same result?
caveat emptor - CAVEAT EMPTOR
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