The Jailhouse

[Capt_Nemo]

MARKET SCAMS and other various bullchit!!!

SEC Sues to Halt High Yield Offering Fraud and to Freeze Assets for Investors
On December 7, 2005, the SEC filed an emergency action in United States District Court for the Eastern District of Texas against Travis E. Correll of Atlanta, individually and d/b/a Horizon Establishment, and his companies The Net Worth Group, Inc. ("Net Worth Group") and Travis Correll & Company, Inc. ("TC&Co."), Gregory Thompson of San Antonio and his company TNT Office Supply, Inc., ("TNT") Dwight J. Johnson of Garland, Texas, Harry Robinson "Robbie" Gowdey of Frisco, Texas, individually and d/b/a Atlas and Jericho Productions, Grant Cardno of Norfolk Island, a territory of Australia and his entities, The Liberty Establishment, Inc. ("Liberty") and Sovereign Capital Investments, S.A. ("Sovereign"), Neulan D. Midkiff of Forest Lake, Minnesota and his entity, Joshua Tree Group LLC ("Joshua Tree"), charging that the defendants are engaged in an ongoing fraudulent high yield investment scheme by which they raised approximately $36 million since July 2004. The Court granted a temporary restraining order, asset freeze and other emergency relief against defendants Correll, TC&Co., Net Worth Group. Thompson, TNT, Johnson, Gowdey, Midkiff and Joshua Tree.

In its complaint, the Commission alleges that the defendants are offering and selling interests in purported foreign and international bank deposit programs (collectively "Bank Deposit programs") promising four to 12 percent monthly returns without risk to their investment principal. The Commission also alleges that investors send or wire their money to TNT or to one of Correll's entities -- Net Worth Group or TC&Co, and that all of the funds are then transferred to a Horizon Establishment bank account controlled by Correll. According to the complaint, investors are told that Correll, the "money manager," forwards investor funds to Cardno, who deposits them in an offshore reserve account; Cardno, identified as the "trader," with exclusive contracts with international banks, supposedly uses the monies in the reserve account to participate in trading programs and loan programs. In reality, according to the complaint, the Bank Deposit program does not exist and none of the investors' funds are sent to Cardno, his entities or to any offshore account for investment. Instead, as set forth in the complaint, all of the investor funds are commingled among various Correll-controlled accounts, and the "investment returns" paid to investors are Ponzi payments, i.e., they derive from the proceeds of more recent investors.

The Commission also names in its complaint, as relief defendants, Banner Shield, LLC, Hospitality Management Group, Inc., Creative Wealth Ventures, LLC and JTA Enterprises based on their alleged improper receipt of investor funds. As part of its emergency relief, the Court issued an order freezing any investor funds in the relief defendants' control.

The Commission alleges in its complaint that defendants Correll, individually and d/b/a Horizon Establishment, TC&Co., Net Worth Group, Thompson, TNT, Johnson, Gowdey, individually and d/b/a Atlas and Jericho Productions, Cardno, Liberty, Soverign, Midkiff, and Joshua Tree each violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.

In addition to the emergency relief that has been granted, the Commission seeks against each of the defendants permanent injunctions, disgorgement plus prejudgment interest and civil money penalties.

The Commission acknowledges the assistance of the United States Attorney's Offices and the Federal Bureau of Investigation in Atlanta, Minneapolis, Dallas and Fort Worth and the United States Postal Inspection Service in Minneapolis.

http://www.sec.gov/litigation/litreleases/lr19492.htm

Administrative Proceedings
The list below provides links to notices and orders concerning the institution and/or settlement of administrative proceedings.

Additional Archives
2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 Release No. Date Respondents
Fourth Quarter
34-52944 Dec. 12, 2005 Robert J. Dentice
34-52943 Dec. 12, 2005 Peter J. Crowley
34-52942 Dec. 12, 2005 CIBC World Markets Corporation
34-52941 Dec. 12, 2005 Paul D. Rogers
http://www.sec.gov/litigation/admin.shtml


JIM BISHOP!!!! A lot of Canucklehead junior mining companies getting hammered up der!!!!


TSX Venture Exchange - Cease Trade Order - Island Mountain Gold Mines Ltd. - IM
Canada NewsWire [Dec 13 2005 3:18AM GMT] VANCOUVER, Dec. 12 /CNW/ - BULLETIN TYPE: Cease Trade Order BULLETIN DATE: December 12, 2005 A Cease Trade Order has been issued by the British Columbia SecuritiesCommission on December 12, 2005 against the following Company for fai
http://c.moreover.com/click/here.pl?x437501990&f=3000000268279


Three arrested in connection with fraud case
Jordan Times [Dec 13 2005 1:41AM GMT] AMMAN - Three people have been arrested in connection with an alleged financial fraud pending further investigations, Prosecutor General Saleh Hawamdeh said on Monday.
http://c.moreover.com/click/here.pl?x437463523&f=3000000268279


Island Mountain suspended by the BCSC
Stockwatch [Dec 13 2005 12:54AM GMT] Island Mountain suspended by the BCSC 2005-12-12 19:16 ET - Cease Trade/Suspend Company A cease trade order has been issued by the British Columbia Securities Commission against Island Mountain Gold Mines Ltd.
http://c.moreover.com/click/here.pl?x437445572&f=3000000268279


UPDATE: CIBC To Pay $500,000 To Settle SEC Case
Dow Jones via iWon [Dec 12 2005 11:17PM GMT] By Siobhan Hughes Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- CIBC World Markets (BCM) Corp. agreed to pay almost $500, 000 to settle allegations that it had done business with the state of California within two years after donating to then-Gov.
http://c.moreover.com/click/here.pl?x437406749&f=3000000268279


Use of 'Scam-Protection Checklist' helps guard against con artists
James M. Trippon, a Houston-based certified public accountant who provides accounting, tax and financial services through J.M. Trippon & Co. (www.trippon.com), offers an investment "Scam-Prevention Checklist."



"There are plenty of investment scams to watch out for," he says. "Even the brightest and richest can fall victim to con artists seeking to make a buck fraudulently, at your expense."

Trippon advises a person who is planning to invest to:

Trust his gut instincts. If an investment sounds too good to be true, it probably is, politely decline to pursue it.
Double-check it with trusted advisers. He should run it by its comprehensive financial adviser, CPA, attorney and, of course his spouse.
Only invest with member firms of the NASD and SIPC. If buying securities, be sure the investment company is a member of the National Association of Securities Dealers and the Securities Investors Protection Corp.
If a security is not publicly traded, don't buy it. Never buy a security that is not already publicly traded with a verifiable history. Never buy a "private placement," hmmmmmmmmmmmm Rager??????? Ring a bell "limited partnership," "precious metal," "viatical settlement" or "promissory note investment."
Never buy any investment over the phone.
Get the broker's license number and check his background. Ask if the investment broker is licensed with the NASD and obtain his CRD number. Then check his background by contacting the NASD public disclosure program at [phone] or on the Internet at (www.nasdr.com). This can tell how long the broker has been in business and what complaints (if any) are on the adviser's record.
If buying insurance, verify it is licensed for sale. If in Texas, verify that both the product and the broker selling it are licensed by the Texas Department of Insurance or the insurance commissioner. State insurance commissioner information is available from the National Association of Insurance Commissioners (www.naic.org).
Check the financial ratings. If buying an insurance product, also verify the insurance carriers' financial strength rating from the major rating agencies: A.M. Best, Duff & Phelps and Standard & Poor's.

Use restrictive endorsements. When buying an investment, make the check payable to the investment company using a restrictive endorsement. If John Smith is opening an account with ABC brokerage, he should style his check, "ABC Brokerage FBO John Smith." The letters "FBO" stand for "For the Benefit Of," which means that it can only be deposited into John Smith's account at ABC Brokerage. Never make the investment check payable to the individual selling the reinvestment, and never invest using cash.
Get it in writing. Get a copy of everything signed and all account-opening documents, prospectuses and product disclosures.
The bottom line on scams boils down to the use of common sense, Trippon says. "Do not let greed or anxiety trick you into a foolish investment, and do your homework before buying anything," he advises.

"You will find you have enough money for retirement when, on an 'inflation-adjusted basis,' you can maintain the lifestyle you want to live without invading your investment principal," Trippon says. "If living the life you want means spending down your principal, then you aren't financially ready for retirement."

Few retirees have the option to return to work and earn more money, he notes.

"Sometimes a nest egg can be lost because of a catastrophic event," he says. "More often, financial disaster happens in ways that can be avoided -- ways that include bad investment decisions, poor tax planning and the failure to make some crucial decisions on retirement day."

Thora Qaddumi

http://houston.bizjournals.com/houston/stories/2005/12/12/focus10.html


Minister Re-states FG's Stance Against Corruption
This Day Online [Dec 10 2005 12:07PM GMT] The Attorney General of the Federation and Minster of Justice, Chief Bayo Ojo, SAN yesterday restated Federal Government's commitment to fighting corruption.
http://c.moreover.com/click/here.pl?x436084099&f=3000000268275


Attorney Cunningham found guilty on two charges out of 41 in money laundering case
Rome News-Tribune [Dec 9 2005 12:56AM GMT] Attorney Cunningham found guilty on two charges out of 41 in money laundering case 12/08/05Lauren Gregory Email this story to a friend Dalton attorney R. Scott Cunningham has been found guilty on two of the 41 money laundering charges against him

http://c.moreover.com/click/here.pl?x435285376&f=3000000268275

15 years of the World Wide Web
From CNN's Kristie Lu Stout


Monday, December 12, 2005 Posted: 1733 GMT (0133 HKT)


At 15 years old, the Internet has had an impressive life.QUICKVOTE
Which of the following developments is the most significant in the Internet's history?
WiFi hotspots
Webcams and photo sharing
Skype
Live 8 on AOL
Napster shuts down
Monica Lewinsky scandal
9/11, and the rise of citizen journalism
Dotcom boom/bust
Hotmail
Google
or View Results
RELATED
• Who should own the Internet?
SPECIAL REPORT
• Online Evolution
SPARK
Find out how tech is changing our lives Click here
ON CNNI TV
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YOUR SAY
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Internet
Technology (general)
or Create Your Own
Manage Alerts | What Is This? (CNN) -- Spark looks at the top 10 "Web moments" since the Internet was born 15 years ago, and asks viewers to vote for the one they think had the most impact in the Web's history.

In 1990, Tim Berners-Lee launched the World Wide Web, a multimedia branch of the Internet.

With Berners-Lee's "http protocol," computer jockeys the world over began making the Net easier to use with point-and-click programs.

Browsers such as Mosaic and, later, Netscape Navigator would help popularize the Web, and let a billion Web pages bloom.

Anyone could access the network, and anyone could decide what went online.

The Web became a powerful, liberating force that brought people closer together, and shaped new businesses.

Take Yahoo, which started as a quirky list favorite links that turned into the go-to site of the 90s.

Or Hotmail, one of the first Web services to give away e-mail for free.

And Ebay, which linked up buyers and sellers of nearly everything to become the world's biggest trading post.

And of course Amazon, the online behemoth of books.

These were the great companies of the so-called "new economy," fueled by venture capitalist sugar daddies and excitable Nasdaq punters.

But with every dot-com blue chip, there were the dogs as well -- think of the likes of Pets.com and Globe.com.

It all looked a bit too bubbly -- long on vision and way short on fundamentals. But today, the blue chips are still standing -- taller than ever.

Amazon is well in the black and has proved cyber-retailing is big business, online advertising is pulling in profits at Yahoo and eBay has become an economy in its own right, with millions of users set to trade goods worth more than $40 billion this year.

But it is Google that gets the most attention. It is the Goliath of the Web, with search, e-mail, e-commerce, instant messaging, classified ads, and even its own virtual planet with Google Earth -- all adding up to one mega-market cap.

The Web is a thrill ride yet again. It is bigger. It is faster. And the original spirit of community-building is still there.

Myspace -- a virtual hangout for wired teens -- has seen its membership rise to 40 million in the last year, prompting News Corp to pick up its parent for more than half a billion dollars.

Skype is the new Hotmail -- linking millions of callers, turning the telecom market upside down, and attracting a $2.6 billion buy-out from eBay.

Yahoo, meanwhile, swooped in on Flickr -- the service that has transformed photography into a popular social pursuit.

The second boom is well underway. So watch this space. This may be a cyber-sequel built to last.

Spark's top 10 Web moments
These are Spark's picks as the top 10 moments in the World Wide Web's short but impressive life. Vote for the one you think is the most significant:

10. WiFi hotspots -- wireless Internet connectivity appears in airports, hotels and even McDonald's.

9. Webcams and photo sharing -- communication becomes visual, and inboxes fill with baby photos.

8. Skype -- telephony turns upside down with free long-distance calls, Ebay snaps it up in September 2005 for $2.6 billion.

7. Live 8 on AOL -- five million people watch poverty awareness concerts online in July 2005, setting a new Net record.

6. Napster goes offline -- Regulators close the pioneering music swap site in July 2001 and file-sharing goes offshore.

5. Lewinsky scandal -- Matt Drudge breaks the Clinton/Lewinsky sex scandal in 1998. The blog is born.

4. Tsunami and 9/11 -- two tragic events set the Web alight with opinion and amateur video.

3. Boom and bust -- trillions of dollars were made and lost as the dotcom bubble ballooned and burst between 1995 and 2001.

2. Hotmail -- went from having zero users in 1995 to 30 million subscribers 30 months later. It now has 215 million users.

1. Google -- redefined search. Invented a new advertising model and commands a vast business empire.