CMKM Diamonds Inc. (fka CMKX)

[dia duit]

Interesting speculation.....

So, at the time (speculating) is while the Bivens suit was active?

By goodolboy

Speculation...
« Thread Started Today at 10:48am »

I've been contemplating why Kevin would have given Hodges shares of CMKM at a time we all know Hodges was in dire need of money. Obviously, Hodges would need to sell those shares to raise cash, but of course there would be a record of that with the company as well as the transfer agent.

Then I recalled that Allen Treffry set up a unique way of eliminating that paper trail. Actually, it wasn't all that unique because Marco did something similar after the SEC told him to stop selling the first time. But, I'm going to describe to you the process Treffry implemented that Hodges may have used as a blueprint.

Treffry established the Treffry Family and Friends Trust, which was funded with CMKM shares. In that trust, he sold fractional beneficial interest to his "friends" so that no cert transfer fee cost was needed, and it circumvented having the company do it when it had no transfer agent to perform such tasks. The only thing he needed to do was establish the individual's beneficial interest in the trust, and that was based on how many shares the individual paid for vs, the total amount of shares the trust actually holds... percentage ownership if you will.

We know that seeking's father gave Hodges $50k for CMKM shares, but she has stated that they cannot find them or the money to verify it. That would most certainly be true if he only bought into a beneficial ownership of those shares via an established trust. No cert required as proof, as he is just a beneficiary of the entity holding the cert.

That said, my only question is whether Kevin transferred his shares to Hodges or were they transferred to a Hodges Trust of some sort? While not necessary for the transfer to have been directly to the trust, it would have been a cleaner way of doing it. The other way, of course, would simply create a notarized document from the holder of the cert stating that it belongs to the trust, but that just gets to be a bit murky if you know what I mean.

As the thread title states, this is speculation on my part based on what facts I know to be true. I'm sure Steve could shed a little light on the topic by looking into the details of the transfer if in fact it was transferred to a trust of some sort, If yes, it was transferred into some trust or shell belonging to Hodges, then we know exactly what happened. If not, it eliminates the clear cut method, leaving the "murky waters" available.




By goodolboy


There is one more thing. Remember when hollenegg stated that Hodges spent over $1 million attempting to get the funds released? I know of a $400,000+ payment Hodges made to allegedly remove an obstacle (person) in the way of the alleged payment. This as well came some time after Kevin transferred shares to Hodges. At the time, Hodges didn't have a pot to piss in nor a window to throw it out of. His house was already in the foreclosure process (his ex was living there with her husband,) but he had not lost his car, apartment, or office at that time.

I have little doubt that he sold those shares as I described, and used the funds to make those payments (or allegedly make those payments.) But, given the situation, I seriously doubt anyone would step forward to acknowledge buying into Hodges offer if indeed this took place.

I think, at this point, I'm going to type out the timeline of events, refine this premise, compile the numerous emails from various sources that provided me certain details, and send it off to one of Shelley's favorite alphabet agents.

http://qbidtalk.proboards.com/index.cgi?board=general&action=display&thread=9377