While Ashira Consulting LLC certainly has a fair argument that COR Clearing was compliant in the scam by knowing that Edward Durante was operating under the aliases Kenneth Wise and Ted Wise and still allowing him to clear stock with them despite his issues with the SEC, Ashira should be filing a Complaint with the SEC about Edward Durante and his operations.
I was going through the VGTL filings and VGTL got involved with Edward Durante in March of 2012.
We will require additional financing in order to enable us to startup and maintain a business. On March 23, 2012, we entered into a Preliminary Funding Agreement with TW Ruban Group, Inc. to provide us with up to $500,000.00 in working capital to be paid in over in installments, specifically for the acquisition of kiosks and related gaming equipment. The funding agreement is strictly a short-term arrangement to provide working capital while the Company continues to negotiate the funding of $5.0 million of additional capital. On May 22, 2012, we executed a Securities Purchase Agreement with WISE & WISE, INC. for the aggregate purchase price of $500,000.00. As of August 8, 2012, neither transaction has closed.
From the 10Q for the period ending September 30, 2012
On March 23, 2012, we entered into a funding agreement with TW Ruban Group, Inc., which provides an advance of $500,000.00 in working capital to be paid in over in installments. The funding agreement is strictly a short-term arrangement to provide working capital while the Company continues to negotiate the funding of $5.0 million of additional capital. On May 22, 2012, we entered into an additional funding agreement with Wise & Wise Inc., which provides an advance of $500,000.00 in working capital to be paid in over in installments. These funding agreements are strictly short-term arrangements to provide working capital while the Company continues to negotiate the funding of $5.0 million of additional capital.
So they started borrowing money from Edward Durante between August 8, 2012 and September 30, 2012 through two separate alter egos - TW Ruban Group Inc and Wise & Wise Inc.
VGTL did not file the actual agreement they had with TW Ruban Group or Wise & Wise Inc. They only mention the agreements in the financial filings.
They wasted absolutely no time turning that debt into shares:
On September 11, 2012, the Company exchanged 3,940,714 shares of common stock for $394,071.35 of debt owed to Horner & Associates, Law Offices of Bruce W. Minsky, PC and The TW Ruban Group, Inc. These debt conversions were approved by the disinterested members of the Company’s Board of Directors.
VGTL continued to draw down from the Edward Durante financing agreements over the next two years paying off the balance in discounted stock. The filings got more and more vague about the transactions though over time.
TW Ruban Group Inc was a Delaware business entity so you have to pay to see filings about who set it up, but Wise & Wise Inc was set-up in Nevada by Kenneth Wise and Svetlana Wise
It shouldn't take much of an investigation for the SEC to figure out that Kenneth Wise and Ted Wise are not real people but are in fact aliases for Edward Durante. It is beyond obvious at this point.
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