FINANCIAL SENTINEL MAGAZINE INVESTIGATES LINKS BETWEEN PENNY STOCK SCAM, DRUGS AND THE CIA
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Story Filed: Thursday, September 02, 1999 7:53 AM EST
WINTER PARK, Fla., Sep 2, 1999 /PRNewswire via COMTEX/ -- For the past decade, mainstream media have reported on the CIA's alleged involvement in drug trafficking. Now, a team of veteran journalists at a personal finance magazine -- Financial Sentinel -- have uncovered yet another angle: In its upcoming October edition, the magazine kicks off a three-part series that probes possible links between the CIA, drug dealers and a now-bankrupt penny stock company, Goldcor, Inc.
Established in 1981 as Tarsand Petroleum, the company was created to extract fuel from tar sands. Four years later, it changed its name to Goldcor, Inc. to match its new mission -- extract gold from the black sands of Costa Rica. Touting a secret chemical process, Goldcor claimed to be able to find gold and process it cheaper than any company before. Investors jumped on Goldcor's bandwagon, sending its stock to $16 a share and giving the company a market value of more than $300 million.
Roberto Veitia, founder of Stratcomm Media, Ltd. (OTC Bulletin Board: SMMM), went to Costa Rica to view Goldcor's operation. A journalist at the time, he was instrumental in discovering and publicizing the fact that Goldcor did not mine gold at all. It was a scam, the magazine reports.
Now, Veitia and a team of reporters, led by 30-year veteran Don Philpott, have uncovered possible links between Goldcor, the CIA and drug dealers. The facts reported in the three-part series raise the question: "Was Goldcor a front for money laundering, turning drug money into gold?"
Philpott and the Financial Sentinel team dedicated hundreds of hours of research to the three-part series. An award-winning journalist, writer and broadcaster with more than 30 years experience, Philpott worked for the Press Association-Reuters, the UK national news agency for 20 years. In 1997, he joined Stratcomm Media to oversee the editorial department.
Financial Sentinel is a two-year old tabloid format publication that highlights investment strategies and micro-cap stocks, including a comprehensive listing of companies listed on the Nasdaq SmallCap Market, OTC-BB, Vancouver Stock Exchange and Toronto Stock Exchange.
Stratcomm Media, Ltd. and its subsidiaries provide financial publishing and marketing services that focus on publicly traded companies. Stratcomm's subsidiaries include: Gulf Atlantic Publishing, Inc., publisher of Money World magazine, the Financial Sentinel tabloid and investor newsletters including Rumor Mill, Confidential Fax Alert and Money World Insider; Rainbow Communications, which provides investor relations to small- and micro-cap companies; Arrow Marketing, an in-house creative agency; Applied List Management, a database marketing firm, and Altamonte Printing.
This news release includes statements that may constitute forward-looking statements under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are necessary estimates reflecting the best judgement of the party making such statements based on a number of risks and uncertainties. Forward-looking statements contained in this press release or in other public statements of Stratcomm Media, Ltd. should be considered in light of those factors. Although Stratcomm Media believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that is expectations will be met.
SOURCE Stratcomm Media, Ltd. (C) 1999 PR Newswire. All rights reserved. prnewswire.com
CONTACT: Don Philpott of Stratcomm Media, 407-628-5700; or Brian
Edwards, Tara Powers, or Amanda Heyboer of Lambert, Edwards & Associates, 616-233-0500 (SMMM)
GEOGRAPHY: Florida
INDUSTRY CODE: FIN PUB
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