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Re: None

Saturday, 03/28/2020 3:18:28 PM

Saturday, March 28, 2020 3:18:28 PM

Post# of 45093
How Mario operates Just in case anyone wants to purchase XMET

FACTS as determined by the SEC:

http://www.sec.gov/litigation/complaints/2008/comp20466.pdf

A. False Statements and Fraudulent Stock Sales in Connection with Carter Care

14. In February 2005, Pino devised a fraudulent scheme to assume the identity of BClT and to profit from the sale of BClT stock. Pino began his BClT caper with the knowledge that BClT's SEC filings had been delinquent since November 2000, and thatthere was no trading in BCIT's common stock.

15. Between February and April 2005, Pino convinced the president of Carter Care, to take Carter Care public through a purported reverse merger with BCIT.

16. Pino fraudulently represented to Carter Care that he owned or controlled BCIT and that he could enter into a reverse merger with BCITand thereby take Carter Care public.

17. On or about February 9, 2005, Pino drafted a Stock Purchase Agreement under which BClT would purchase Carter Care in exchange for 20,000,000 shares of BCIT stock, which Pino stated, represented approximately 60% of the issued and outstanding stock of BCIT. Pino knew at the time that he had not seen any corporate documents that verified the number of current outstanding shares of BCIT. In reality, the issued shares of BClT did not exceed 4,890,000 and bore the legend March lndy Corporation.

18. Pino arranged to have blank BCIT stock certificates printed, bearing the same CUSlP number as the legitimate BCIT.

19. Pino directed his associate to prepare and fax false documents to the Nevada secretary of State that purported to change BCIT's registered agent and corporate officers. This filing with Nevada essentially hijacked BClT and designated Pino's nominee as the sole officer and director of the corporation.

20. Pino directed his associate to follow up by sending a letter to BCIT's transfer agent authorizing his associate to gather and receive all information held by the transfer agent relating to BCIT.

21. At the end of April 2005, Pino issued or caused to be issued, 41 certificates in connection with the Carter Care bogus transaction. The certificates represented over 249 million shares, including over 20 million shares issued to Pino.

22. On May 2, 2005, Pino issued a press release falsely announcing that BClT and Carter Care had engaged in a reverse merger. By May 3, BCIT's stock price had jumped to $0.08 per share. Prior to April 29,2005, there had been no market for trading in BCIT's stock.

23. In early May, 2005, Pino was contacted by the president of the legitimate BCIT, Thomas Megas. BCIT's president told Pino that the Carter Care transaction was not authorized. Notwithstanding that Pino knew that BCIT's president did not authorize any of the actions Pino was taking, Pino sold shares.

24. Thereafter, on May 12, 2005 Pino sent out a press release stating that the reverse merger was cancelled after due diligence. This press release was materially false and misleading because it did not disclose that BClT never had been negotiating with Carter Care and the transaction never had been authorized in the first place, but instead stated that the transaction had been cancelled.

25. Notwithstanding full knowledge that the Carter Care transaction was not authorized, Pino sold his 20,005,000 million shares into the inflated market between April 29 and May 15,2005, and reaped gains of $108,120.

26. No registration statements were filed in connection with the issuance or sale of these BClT stock certificates.


B. Continued False Statements and Fraudulent Stock Sales in Connection with the Business of BClT

27. Notwithstanding the Carter Care debacle, Pino continued undeterred. Pino told the president of BCIT that he would make restitution and pay damages for his attempt ' to hijack BCIT. Unbeknownst to BClT's president, Pino's plan was to generate money from the continued sale of unregistered shares of his hijacked BCIT, and use the proceeds to pay the legitimate BCIT. Pino continued to issue false press releases and disseminate false information about BCIT, which continued to facilitate a market in the shares. Pino continued to trade fraudulent BClT securities.

28. On May 25, 2005, Pino ordered, or caused to be printed new BClT stock certificates, again bearing the same CUSlP number as the real BCIT. Pino did this without permission or direction from BCIT's president, the only person with authority to print new stock certificates. Pino paid the printing cost for these certificates and received them on or about May 26,2005.

29. From at least May 26 through July 13,2005, Pino engaged in an information campaign to condition the market for his stock sales. Pino issued false press releases in this time period, to wit:

-----a. On May 31,2005, Pino issued a press release announcing that BClT "is currently negotiating with an exciting business it hopes to acquire." The statement was materially false and misleading.

-----b. On May 31,2005, Pino issued a press release announcing that "BCIT is to close on a monumental deal with keen competition from competitors."These statements were materially false and misleading.

-----c.On June 2,2005, Pino issued a press release announcing that "BCITis presently involved in an active negotiation to acquire gold deposit rights with an approximate value of one billion (USD)." These statements were materially false and misleading.

-----d.On June 13,2005, Pino issued a press release announcing that "BCIT has entered into an exclusive agreement with CVG (Corporacion Venezuela de Guayana) of the Venezuelan Government to commercially develop gold deposits at a site in the State of Bolivar. This agreement is for concessions No. 32. There has already been infrared testing done on the property and Bancorp will be sending down a team of geologists for additional testing." These statements were materially false and misleading. At the time Pino issued this press release, BCIT did not have any employees, let alone geologists and had no agreement to develop gold deposits in Venezuela.

-----e.On July I I, 2005, Pino issued a press release announcing that "BCIT is a high growth, diversified mining company that is presently operating in multiple regions in Venezuela." This statement was materially false and misleading; BCIT had no operations whatsoever, including no operations in Venezuela.


30. During this time BCIT's president emailed Pino reiterating that Pino had no authority to act for BCIT and that only he, Thomas Megas, had authority to act for BCIT. He directed Pino not to issue any releases or other documents without specific authorization from BClT's president.

31. Pino continued undeterred and issued press releases and distributed false information about BCIT, including those described above, and others.

32. Pino also orchestrated a fax blasting operation touting mining contracts, and email spam campaign announcing the status of BCIT's mining operations.

33. In addition, Pino directed the creation of a purported BClT website, bancorpinc.com/newsite, that falsely described BCIT as a multinational mining company that mined precious metals and diamonds. During this time period, Pino issued new BClT certificates to himself and to promoters to, in his words, "get the market moving," because "we needed liquidity and the dollar volume of the stock to be higher." In all, Pino issued over 238 million shares of these new BClT stock certificates bearing forged signatures of BCIT's president and former secretary.

35. No registration statements were filed with respect to these stock issuances.

36. Pino's false press releases and trading activities facilitated a market for the fraudulently issued BClT certificates. Pino sold 125,000,000 shares in open market transactions between June 2 and July 21, 2005, earning profits of $1 60,913.

37. All of the information Pino disseminated about BClT was false. BClT never entered into any mining contracts and never was in the mining business. On August 1, 2005, BCIT's president issued a press release on behalf of BCIT, which stated that BClT had never issued any shares bearing the legend Bancorp International Group, Inc.; BClT had never entered into a reverse merger with Carter Care; BClT had never been in negotiations with Carter Care; BClT did not sign or enter into any agreements relating to any gold or diamond mining venture and never made any announcements to that effect.

38. Pino's actions involved fraud and resulted in substantial losses or created a risk of substantial losses to other persons.