World Surveillance Group Inc (fka WSGI)

[Spyster]

Justfrank,Taboada was fined 25K and suspended for 6 months.
http://www.nasd.com/web/groups/enforcement/documents/oho_disciplinary_decisions/nasdw_012550.pdf
(2) For issuing sales literature that omitted material information and contained misleading
information in violation of NASD Conduct Rules 2110, 2210(d)(1)(A), and 2210(d)(1)(B), Taboada is
suspended for six months from associating with any member firm in any capacity and fined $25,000.
(2) Taboada’s suspension shall become effective at the
opening of business on May 3, 2004, and end at the close of business on November 3, 2004.
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?dcn=0001094596-04-000022&Type=HTML
On August 20, 2004, the Company agreed to sell 500 shares of Series C Preferred Stock of GlobeTel Communications Corp. ("GTEL") to Paul E. Taboada for a total investment of $500,000. Mr. Taboada, an individual investor, has also been providing consulting services for the Company for over four years. The Company intends to use this $500,000 investment for working capital and purchase of equipment for Sanswire, LLC, necessary to launch the prototype of the Stratellite.
The purchase price shall be payable in five (5) installments of $100,000, payable no later than August 30, 2004, September 30, 2004, October 30, 2004, November 30, 2004, and December 30, 2004. The Purchaser has a three-day cure period to remit the monthly payments.
As of the date of this report, the Company has received $300,000 as agreed upon and expects to receive the remaining $200,000 before the established time periods.