I remember that one well mostly because the "Rudy" was the Rudy Ruetigger of Notre Dame football and movie fame. I don't believe any of them went to jail though. I believe they all bought their way out.
Regardless, as I recall the total disgorgement was only $11 million. This is relevant to MRIB in the fact that MRIB has already blown through more than $30 million just in cash. JUST CASH. That's not even looking into any disgorgement from stock transactions! Point being that sooner or later MRIB has a good chance of ending up on the SEC radar with those kind of numbers. And MRIB is a much more intricate, albeit sloppy, scam involving a web of fictional shell companies, vendors and financing sources. Here is a short overview and glance of just part of the MRIB scam and web of front companies along with most of the major players:
As you can see, the same names are involved in all of these now mostly defunct companies. Most all of them are or were domiciled at the same Red Hill Road address in Tustin, CA used by MRIB as well. There are a number of other public company scams involved as well including Rising India listed at the same "former" address as MRIB.
One other interesting MRIB twist is the involvement of Doran Ramos (or whatever his name is these days). He was involved with a penny scam called Avitar. He claimed to have a production facility in Mexico for shoes and the "joint venture" was to generate $300K a month immediately. Stock went throught the roof and then a massive dump. They pulled it off twice as did MRIB. Mexico? Sound familiar to what has gone on at MRIB? In any case the facility didn't exist and the deal never happened. Company never made a dime, stopped reporting in 2012 and trading was finally halted and the company suspended for good in October last year. Funny... just around the same time MRIB shut down along with Zodiac Brands and a few others at the MRIB address. Looks as though Rising India shut down then too. A lot of odd coincidences with MRIB all surround by very shady operations and questionable trading activity.
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