So beyond the Manipulated MIHL Crests,
and the alternating Rosni/MIHL executives along with the
Russian train cars, hedge funds and every sort of fantasy MIHL claim, now the new MIHL contact is Robert Ringold.
PA authorities were most interested to hear this individual has re-emerged as an IRP/Spokesman selling another SCAM again.
Commission Halts Unregistered Activity
By Ringold’s Jewelers, Inc.
Harrisburg, PA, 07/27/2000 — The Pennsylvania Securities Commission issued a Summary Order to Cease and Desist against Ringold’s Jewelers, Inc. and Robert D. Ringold, the principal of Ringold’s Jewelers, Inc., to halt the offer and sale of unregistered securities in the Commonwealth. The respondents are located in Huntingdon Valley, PA.
The respondents have an advertisement on BlackBean Communication, Ltd.’s Web Site offering investment opportunities in a gem mining project (Investment Opportunities). In May 2000 Ringold contacted a Pennsylvania resident who had no pre-existing relationship with the respondents, and offered the Investment Opportunities for sale. The Web Site stated that Ringold’s Jewelers, Inc. , in order to finance a gem mining project in the former Soviet Union (Gem Project), is seeking a minimum capital requ8rement of $4,500,000, and claimed the Gem Project "should gross $20 million in the first complete year of operation with a 60% net return."
The Web Site does not contain the disclosure set forth in Regulation 203.190 to qualify for Pennsylvania’s Internet Offering Exemption. A copy of the Commission’s Internet Offering Exemption can be downloaded from the Commission’s Web Site at "www.psc.state.pa.us".
The Commission directed the respondents to make no further offers or sales in Pennsylvania. The Investment Opportunities issued by Ringold’s Jewelers, Inc. are securities which are not registered with the Commission under Sections 201, of the 1972 Securities Act, and no exemptions from registration appear to be available.
This Order represents the latest in a series of recent actions by the Commission to extend traditional consumer protections to the activities conducted on the Internet.
Any further solicitations or sales made by these respondents in Pennsylvania will constitute violations of the 1972 Act and the Commission's Orders. Any person who is solicited by or has information about these respondents is asked to immediately notify the Pennsylvania Securities Commission by calling 800-600-0007, or, in Harrisburg: (717) 787-8062, in Pittsburgh: (412) 565-5083 or in Philadelphia: (215) 560-2088.
The Harrisburg office should be contacting MIHL soon.
Caveat Emptor.