GDT Tek Inc. (fka GDTK)

[nodummy]

Looks like Karen Black-White and Albert Reda (both part of the group recently charged in the kickback sting) knew each other from back in the GDTK days starting in September/October of 2010:

Companies Karen White-Black was paid to promote:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69577366

GDTK.pk - Compensated PMSI 100,000,000 rule 144 restricted shares for distrubution of press releases. PMSI may buy or sell stocks at any time for any reason regardless of whether such purchases or sales are consitent with website commentary and coverage.

PMSI is a stock promotion company run by Karen Black-White. That transaction took place back in September/October of 2010.


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Then more information has become available in the FBI Affidavit posted here:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69580240

http://media.jsonline.com/documents/FBI_affidavit.pdf

63. Following the June 13 BLACK-WHITE Meeting, BLACK-WHITE found and introduced to UA at least four companies in which he might invest his Fund’s monies in exchange for a kickback. Specifically, BLACK-WHITE introduced:

• REDA, and his company 1st Global, to UA. As will be described below, UA invested a total of $32,000 in 1st Global and received a $16,000 kickback from REDA and 1st Global.


ALBERT REDA

SCHEME TO DEFRAUD

80. Beginning in or about June 2011 through at least July 22, 2011, REDA engaged in, or attempted to engage in, a scheme to defraud and obtain money and property by secretly kicking back to UA fifty percent of Fund monies invested in 1st Global.

MANNER AND MEANS OF THE FRAUD

81. On or about June 29, 2011, REDA met with UA and CW at the Boston Office to discuss a potential investment of the Fund’s monies in 1st Global in exchange for a fifty percent kickback to UA (the “June 29 REDA Meeting”). The June 29 REDA Meeting was recorded.

82. At that June 29 REDA Meeting, UA represented to REDA that he was a representative of the Fund. UA told REDA that he had investment discretion over some of the Fund’s monies. UA said to REDA that he was prepared to invest Fund monies in exchange for a kickback to UA of fifty percent of the monies invested. UA further told REDA that his Fund would not know about the kickback to him.

83. At the June 29 REDA Meeting, UA also discussed the mechanics of the funding, informing REDA that while he could commit to an investment of $5 million of the Fund’s monies, with fifty percent (or $2.5 million) “kicked back” to him, he did not want to invest the entire amount all at once, so as to avoid detection by the Fund. Therefore, UA told REDA that he would invest the money over time, in “tranches” of increasing amounts.

84. At the June 29 REDA Meeting, UA further discussed with REDA the mechanics of the kickback. UA explained to REDA that 1st Global would be sending the kickback to one or more “nominee companies” which he himself controlled. UA discussed with REDA that 1st Global would enter into “consulting agreements” with one of his “nominee companies,” even though UA said that he did not intend to provide any consulting, and that invoices would be issued by his “nominee companies” in order to “legitimize” the kickback payments.

85. At the June 29 REDA Meeting, after UA had discussed the kickback transaction, REDA agreed to pay the kickback in exchange for funding to 1st Global. Thereafter, REDA prepared the documents for the transaction, including a consulting agreement with one of UA’s “nominee companies,” which documents REDA sent to UA via e-mail.

86. On or about July 5, 2011, in accordance with wiring instructions provided by REDA, the FBI caused $32,000 to be sent by interstate electronic wire transfer from a covert bank account in Boston, Massachusetts, purportedly belonging to the Fund, to a corporate bank account held outside of Massachusetts and controlled by REDA. The wire transfer represented the first “tranche” of funding to 1st Global.

87. On or about July 5, 2011, REDA caused a stock certificate representing the purchase by the Fund of 320,000 1st Global shares to be sent to the Boston Office by private, commercial interstate carrier.

88. On or about July 6, 2011, REDA caused $16,000 to be sent by interstate wire transfer from 1st Global’s corporate bank account outside of Massachusetts to a covert bank account in Boston, Massachusetts, purportedly belonging to one of UA’s nominee companies. This wire transfer represented 1st Global’s kickback to UA from the first “tranche” of funding to 1st Global.


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I would be willing to bet that kickbacks may have also been arranged involving GDTK back in 2010.