Replies to post #52873 on East Coast Diversified Corp (fka ECDC)

[brandon12]

The occurrence was during his Planetlink days:

this is on page 26 of this link
http://www.sec.gov/Archives/edgar/data/1123845/000114420404012881/v06062_10ksba.txt

ITEM #2 NOTE: March 2003, and 11 months imprisonment

" We learned on or about March 13, 2003 that our former chairman and chief executive officer had been subject to a criminal proceeding not related to our business or operations. The former chairman and chief executive officer entered a guilty plea to possession of fraudulently obtained securities (financial instruments) in the United States District Court-Northern District of Georgia/Atlanta Division, U.S. v. Kayodye Aladesuyi. The former executive
officer/director was sentenced to 11 months imprisonment and ordered to make restitution of $68,500 to five individuals. We were not a party to this proceeding and have not received any claim nor have we been threatened with any action with respect to this proceeding. As a result, we do not believe that we will be materially adversely effected by the legal proceeding or the order or
restitution. We received the written resignation from Mr. Aladesuyi on March 25, 2003."

this is on page 20 of this link http://www.sec.gov/Archives/edgar/data/1123845/000114420404012881/v06062_10ksba.txt


The biggest thing to me is he "plead guilty" now the big K man say of course that it was overturned later but has no proof. Also I think it would be quite odd to overturn a "guilty plea" so who knows the fact of the matter is he plead guilty to fraud and securities fraud, wire fraud telemarketing fraud among other things.

So you trust this guy with your money.... BWAHAHAHAHA