China MediaExpress Holdings, Inc. (fka CCME)

[gunnar]

Check this out, here's Minkow's 2009 statement about Lennar:

"Barry Minkow plans on issuing a "top ten red flags for fraud at Lennar Corporation" on a new web site called lenn-ron.com Friday afternoon."

Sound familiar?

Here's a summary of his recent conviction. He shorted on the way down and went long on the way up. When the SEC found out what was really going on, they dropped the investigation of Lennar and Minkow now has a conviction. AND he has to pay Lennar's costs... tens of millions, according to this:

"Barry Minkow, a character with an interesting history involving a road from white collar crime to Christian minister, was recently judged responsible for tens of millions of dollars in attorney and investigative fees. Lennar Corp, a publicly traded company, alleged in a Florida court that Minkow extorted them for money and fraudulently spread false and malicious lies in an effort to diminish the stock value in furtherance of a stock shorting scheme. And after Minkow reported about Lennar’s “criminal activity,” he purchased the stock of the “fraudulent business” after it dropped 20%! This seems to be Barry Minkow’s mode of operation, as it’s happened several times before. But this time, Minkow angered the wrong company. The story can be found here. Amongst all of the anti-MLM detractors, Minkow was by far the dirtiest and most disruptive. Minkow operates the “Fraud Discovery Institute,” which was purportedly created to expose white collar criminals. However, on multiple occasions, Barry Minkow would fraudulently short the stock of these companies days before releasing his reports. In the case with USANA, a well-known and publicly traded direct sales company, Minkow along with several other investors, shorted the USANA stock prior to releasing a scathing report alleging USANA to be a pyramid scheme. The report led to an eventual SEC investigation; however, the investigation was soon dropped once the SEC learned of Minkow’s financial interest in the matter. Minkow’s reputation as a fraud reporter is greatly diminishing as multiple courts across the country are methodically getting to the bottom of his antics. As the judge in the Lennar case said, “Minkow’s misconduct has been pervasive, intentional and committed to gain unfair advantage over plaintiffs and to deceive this court.” As the saying goes, “When you mess with a bull, be prepared to get the horns.” With Minkow attacking so many large, publicly trade companies while double-dipping via shorting stock, it was only a matter of time before a company would land a knockout punch."

Perhaps this recent precedent will help with our case. Substitue "Fraud Discovery Institute" with "Muddy Waters", the story's not too different after that.

http://whitecollarfraud.blogspot.com/2009/01/barry-minkow-calls-lennar-corporation.html
http://www.themlmattorney.com/barry-minkow-busted/