Replies to post #3273 on Ingen Technologies Inc (IGNT)

[hurley cruppers]

OT: dlewisfl, here is one pulled off the ihub thread



U.S. Securities and Exchange Commission
LITIGATION RELEASE NO. 19493 / December 14, 2005
Securities and Exchange Commission v. Jeffrey B. Schmidt, et al., United States District Court for the Northern District of California, Civil Action No. C 05-05171 JCS
SEC FILES FRAUD CHARGES AGAINST RETAIL SKIN CARE CHAIN EXECUTIVES
The Securities and Exchange Commission today filed securities fraud charges against three men who fraudulently raised over $11 million from investors in stores of Skin Nuvo International, LLC, a skin care and laser hair removal company that operated in California, Nevada, and the Pacific Northwest.

The Commission’s complaint, filed in the United States District Court for the Northern District of California, alleges that, between 2002 and 2004, Nuvo co-founder Jeffrey Schmidt, 45, of Henderson, Nevada, falsely promised dozens of investors profits of 30% to 40% when he knew Nuvo’s business was in precarious financial shape. Nuvo has since filed for bankruptcy.

According to the complaint, Schmidt told investors their investments would finance particular new Nuvo locations, when in reality Schmidt spent the money to prop up the failing business, pay executives (including $680,000 to himself), and pay preexisting investors to maintain an illusion of profitability. Schmidt also provided investors with false income statements showing the retail locations to be substantially more profitable than they actually were.

The complaint further alleges that Nuvo’s former Chief Operating Officer Norman Valine, 39, of Las Vegas, Nevada, and a Nuvo co-owner Gary Gelnette, 51, of Concord, California, raised money from new investors even after suspecting that Schmidt may have embezzled funds and falsified financial records. Specifically, the complaint alleges that in late 2004, Gelnette, a former pastor, helped raise $1.35 million from a former parishioner, while Valine reaped $138,000 in commissions by selling Nuvo interests to four additional investors.

The Commission’s complaint alleges that Schmidt, Gelnette and Valine violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (“Securities Act”), Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 thereunder. The complaint also charges Schmidt and Valine with violating Section 15(a) of the Exchange Act. The Commission seeks disgorgement, civil money penalties, and injunctive relief.

SEC Complaint in this matter



http://www.sec.gov/litigation/litreleases/lr19493.htm

[hurley cruppers]

OT: dlewisfl, read this one, too



SECURITIES EXCHANGE COMMISSION V. RAMOIL MANAGEMENT LTD., ET AL., United States District Court for the Southern District of New York Civil Action No. 01 CV 9057 (October 11, 2001).

SEC CHARGES FOURTEEN ENTITIES AND INDIVIDUALS, INCLUDING A LAWYER AND AN ACCOUNTANT, IN $3.3 MILLION MARKET MANIPULATION SCHEME

The Securities and Exchange Commission announced today that it filed a complaint in the federal District Court for the Southern District of New York against: Ramoil Management Ltd. ("RAMO"), a Las Vegas, Nevada based company; Rodoljub "Misha" Radulovic, RAMO's former CEO; Alexander Taflevich, RAMO's former president; Edward A. Durante, a stock promoter residing in Gardiner, New York; Trevor Koenig, a former broker residing in British Columbia, Canada; Thomas Hauke, a Certified Public Accountant ("CPA") and partner at New York accounting firm Van Buren & Hauke; Moneesh K. Bakshi, an attorney residing in Middletown, New York; and certain foreign entities controlled by Durante.

The Commission's Complaint alleges that from December 1999 through July 2000, Defendants engaged in a market manipulation scheme which drove RAMO's stock price from $7.0625 per share to an all-time high of $20.00 per share. The complaint alleges that Durante dumped 1.8 million RAMO shares into the market for profits of approximately $3.3 million during the course of the scheme. The complaint also alleges as follows:

In December 1999, RAMO entered into a purported stock promotion agreement with Carib Securities, an entity controlled by Durante. Pursuant to this agreement, RAMO delivered over one million shares to Durante-controlled nominee accounts at Union Securities, Ltd., a Canadian broker-dealer. Durante then instructed Koenig, his broker for these accounts, to execute a series of manipulative public trades to create artificial price increases in RAMO stock.

Radulovic and Taflevich made false public statements through press releases, SEC filings, and the Internet concerning, among other things: RAMO's purported attempts to become listed on the NASDAQ; the claim that RAMO would obtain revenues of $1.6 billion and profits of $331 million by the year 2004; and a Letter of Intent RAMO supposedly entered into to purchase 45% of a Swiss Finance Company valued at $150 million. In fact: RAMO had been told by the NASD that its NASDAQ Small Cap listing application was inadequate; RAMO's profit and revenue predictions were completely baseless; and the so-called Letter of Intent was nothing more than a one paragraph letter from Radulovic expressing a vague interest in the possibility of merging with the Swiss company.

In April 2000, RAMO filed a Form 10-K for its fiscal year ending December 31, 2000. The Form 10-K also contained an audit opinion that was purportedly signed by "Charles R. Eisenstein, C.P.A." This audit opinion was a forgery prepared by Hauke, who had been paid $50,000 by Durante. No audit was ever actually done and Eisenstein never did any work for RAMO. Bakshi prepared the Form 10-K and several of RAMO's other fraudulent SEC filings.

The Commission's complaint charges all of the defendants with violations of the antifraud provisions of the federal securities laws, specifically Section 17(a) of the Securities Act of 1933 ("Securities Act"), Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act"), and Rule 10b-5 thereunder. In addition, the complaint charges several of the defendants with other violations, including Sections 5(a) and 5(c) of the Securities Act, Section 15(d) of the Exchange Act, and Rules 15d-1 and 15d-13 thereunder. The Commission seeks injunctions prohibiting future violations of the securities laws, disgorgement, and civil penalties. The Commission is also seeking an order barring Radulovic and Taflevich from serving as officers or directors of any public company.

The Commission acknowledges the valuable assistance of the United States Attorney's Office for the Southern District of New York, the FBI, NASD Regulation, Inc., and the British Columbia Securities Commission in connection with this matter.

http://www.sec.gov/litigation/litreleases/lr17179.htm

[hurley cruppers]

dlewisfl, read what is in BOLD Print from
this January 18th, 2005 press release

dlewisfl, do you understand this paragraph below???

“Spector & Wong has been our CPA firm for the past 6 years and has kept the company’s tax filings, books and records current. This firm has 20 years experience with SEC audits and filings. It was necessary to reorganize CRTZ prior to any audits.” Said Scott Sand, CEO & Chairman of Ingen Technologies.


*********************************************************

Ingen Technologies Secures Strategic Contract With Total Healthcare Compliance, Inc. - Anticipates Additional Annual Revenue of $2M



For Immediate Release:

Calimesa, CA- January 18, 2005: Ingen Technologies, Inc. (OTC:IGTN) announced today that 2004 unaudited revenues have increased 14% over 2003, with substantial growth expected in the first quarter of 2005.

Additionally, Ingen recently signed a contract with Total Healthcare Compliance, Inc., a medical service provider to third party medical networks and direct physician services throughout the country, that is expected to boost revenues associated with the Company’s Secure Balance™ program of an additional $200,000 per month, or $2M per year.

“Reports indicate that the Company’s Secure Balance™ products have applications to 350,000 physician and hospital based programs with a total demand of 250,000 units.” Said Scott Sand, CEO & Chairman. “Secure Balance™ expects to sell to 5% of the market with initial market penetration of less than 1% over the next 2 years.”

Sand continued, “This would represent approximately 1,000 units and revenues of over $50M during the next 24 months. These numbers are achievable now that the company has contracted with several industry leaders to create a distribution channel for Secure Balance™.”

The Company also announced that it has engaged Spector & Wong, LLP to complete the necessary audits for SEC filings. This audit is expected to be complete in February, 2005.

“Spector & Wong has been our CPA firm for the past 6 years and has kept the company’s tax filings, books and records current. This firm has 20 years experience with SEC audits and filings. It was necessary to reorganize CRTZ prior to any audits.” Said Scott Sand, CEO & Chairman of Ingen Technologies.

About Ingen Technologies

Ingen Technologies, Inc. is a public company trading on OTC: IGTN. In business since 1999, Ingen Technologies went public in March-2004, and is a growth-oriented technology company that offers a diverse and progressive service and product line.

The Company’s flagship products are its BAFI™, GasAlert™ and OxyAlert™ products, the world’s first wireless digital low gas warning system for pressurized gas cylinders. The BAFI™ received a US Patent on October 24th, 2000, Patent No. 6,137,417. BAFI™, now in its second generation, is an accurate and cost-effective, real-time pressurized gas warning system that will alert users when gas levels are approaching empty.

The OxyAlert™ and GasAlert™ product lines have multiple applications, inclusive of, but not limited to, the Medical Industry, Home Consumer, Residential Development Industry, Safety & Protection (fire and police), Aircraft Industry, and the Recreational Vehicle Industry. BAFI™ is a patented product that meets or exceeds regulatory compliance of this type of product and is completed and in production.

The successful Secure Balance™ program is equipment, training and an educational support system available to physicians throughout the United States. During the initial twelve months, the Secure Balance™ system generated approximately $1 million in revenues for Ingen and is now being aggressively marketed throughout the United States. More recently, the company’s sales have increased in proportion to the expansion of the Company’s marketing network. Its marketing strength is based upon superior products and an experienced professional team.

The Secure Balance™ program offers the most sophisticated clinical products for vestibular function testing and balance therapy compared to any of their competitors. “We offer the most medically accepted, comprehensive product line for vestibular function testing and balance therapy, at prices lower than our competition,” said Scott Sand, CEO of Ingen Technologies. With more than two million people visiting their doctor each year complaining of dizziness and vertigo; the Secure Balance ™ program can substantially help patients regain their balance and decrease the number of fall related injuries. The elderly population is expected to double over the next decade and comprise the majority of balance disorder patients. This is an expanding market.


For more information, visit: www.otcfn.com/igtn and www.ingen-tech.com


Investor Relations Contact: Scott R. Sand, C.E.O & Chairman
Ingen Technologies, Inc.
285 E. County Line Road
Calimesa, CA 92320
800-259-9622
951-675-3266
800-777-1186 FAX
[e-mail]