Imagination TV Inc. (IMTV)

[Rich]

From Forbes.com in 1999. Don't deny the wrongdoing...

3/25/1999 @ 2:00PM

Saga of a fallen Internet stock: Millionaire.com

Ambiguous press releases and online hype kept the stock flying high, giving the business a market capitalization of nearly $300 million. On Dec. 29, the company announced that it has done a private placement of an additional 1.8 million shares in a $4.5 million deal.

But then the hype was in full effect, which helped investors to ignore that fact that the company was being promoted by Steve Samblis, who was under investigation by the SEC.

Samblis, president of Fortune Marketing and Capital Consultants, is well known in the online stock promotion business. He was also a Millionaire.com investor and media relations consultant. The SEC was close on his heels, it seems. According to the SEC’s complaint, Samblis was “passing himself off as an independent and impartial stock picker when, in fact, he is nothing more than a paid pitch man for the companies he hypes.” Since then the company has announced that Ken Costanzo would oversee its investor relations, replacing Fortune Marketing and Capital Consultants.

http://www.forbes.com/1999/03/25/mu5.html