| To: jjs64 who wrote (418) | 9/23/2002 7:25:05 PM | | From: StockDung | | | | 'Trojan' Company Changes Horses
wired.com
Contact the author: mdelio@earthlink.net
'Trojan' Company Changes Horses
by Michael Delio
Early on the morning of Dec. 28, advertising executive Michael Calderone came to the unhappy realization that many people believed him to be the embodiment of all that is evil on the Internet.
Calderone is the president of NetupProfits, an online ad agency that, among other things, distributes a lottery game program called ClickTillUWin
Users of some versions of file-sharing applications BearShare, LimeWire, Kazaa and Grokster noticed in late December that a small program called "Dlder" had been installed on their computers without their permission. The program appeared to be trying to track which websites they viewed and reporting that information to a Web server.
The users soon correctly connected the appearance of Dlder to the "ClickTillUWin" game that had been bundled with the filesharing applications.
So some of those irate users then attacked Calderone's ClickTillUWin and NetupProfits sites, forcing him to stop tracking user movements. Calderone's websites were hit with a number of denial-of-service attacks, and were often off-line from December 28th through the first weekend of January. He said threatening phone calls to both his business and unlisted home number soon followed.
"The people who attacked us knew what they were doing. Having the websites down made it much more difficult for people to find out who were are and what we do -- that we are a legitimate business," Calderone said.
Calderone said that people were reacting to Dlder initially being classified as a Trojan by several antivirus companies. Nearly all of the companies have since removed that label, calling it "non-threatening."
"We have a full explanation of what the program does on our site, but no one could access it so they had to rely on what the antivirus companies said."
Calderone said his contracts with distributors who bundle ClickTillUWin with other software specify that the program cannot be installed on users' systems without first disclosing what ClickTillUWin does and obtaining permission from the user.
Calderone does not dispute that in some cases ClickTillUWin was automatically installed without proper disclosure or consent.
"We work with a lot of companies," Calderone said. "Distributors get a payment from us every time the ClickTillUWin application is installed. So you can see why one unscrupulous person might decide to delete the consent feature."
Calderone's primary distribution contract is with Internet telephony vendor Net2Phone. A spokesperson for the company confirmed that the contract with Calderone specifies full disclosure of the program's tracking features, and requires that users can choose whether to install the program.
"Net2Phone and its affiliated partners have had a very long and fruitful relationship bundling the ClickTillUWin product," said Will Margiloff, vice president of sales at Net2Phone.
"(Calderone) asked Net2Phone to help increase the distribution of the ClickTillUWin product through additional partners outside of the current group of Net2Phone affiliated partners. Net2Phone, in turn provided the product to various distributors under the aforementioned conditions. Unfortunately, somewhere along the line the ball was dropped and various forms of bundling took place which didn't coincide with the initial opt-in and/or opt-out basis."
Calderone said that he wasn't aware that ClickTillUWin was being installed without consent until his inbox started flooding with e-mails from disgruntled people who had read about the "ClickTillUWin" Trojan in filesharing discussion forums.
Calderone said most of the e-mail accused him of hacking into their computers to spy, and warned that in return his company's website would be attacked and his business would be ruined.
Symantec was one of the antivirus companies that pulled all references to the Dlder Trojan from their lists of recently discovered viruses and Trojans.
"We were approached by the owner of this program who communicated the intent of the program and we were satisfied with this," Steve Trilling, director of research for Symantec Security Response, said regarding changing Dlder's designation.
F-Secure amended its original Dlder write-up slightly, but still refers to it as a "spyware-trojan" program.
"Yes, we still categorize it as a Trojan, as we define Trojans to have some unwanted and undocumented effect -- basically that a program does something else than it claims to -- and that it is malicious," Mikko Hyppönen, Manager of Anti-Virus Research for F-Secure, said.
F-Secure researchers believe that the method that ClickTillUWin uses to track information could compromise sensitive information.
The ClickTillUWin application tracks the websites that its players visit so that the game can display advertising targeted to a user's interests, Calderone said. For example, someone who repeatedly visits automobile company websites would be served car ads.
But F-Secure said if users access a Web page in an intranet or a password-protected site that stores any user info to the URL, ClickTillUWin might pass this data back to ClickTillUWin in unencrypted form.
On Wednesday, Calderone said he has decided to pull the URL tracking capabilities out of the ClickTillUWin program.
"We are going to eliminate the URL tracking portion of the game. We are not doing this because what we are doing is wrong, but because of all of the controversy around that one point," Calderone said. "I have always believed that you cannot fight city hall."
"I don’t have the resources to challenge those who believe that we are doing something that they don’t agree with," Calderone said. What we will do now is offer people the opportunity to receive additional lottery tickets in exchange for answering a few questions. And if a person does not want to provide that information, they can still play. They will just see very general ads." |
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| To: jjs64 who wrote (418) | 2/1/2003 4:04:44 PM | | From: StockDung | | | | WASNT THIS THE STOCK THAT WAS MENTIONED IN THE MOB ON WALLSTREET STORY?
Owned and Operated by Marketing Direct Concepts, Inc.
© Copyright 1996 Marketing Direct Concepts, Inc. All rights reserved.
web.archive.org
Total World Telecommunications, Inc.
Current Date/Time: Mon Jun 2 18:04:14 EDT 1997 (Delayed Data) Symbol Last Change Bid Ask High Low Volume
TWTI 11/16 1/32 21/32 11/16 27/32 21/32 1182500
A SUPERIOR LONG DISTANCE INVESTMENT!
The switch is on, and the resources are there for a profitable future.
INVESTOR’S OVERVIEW
· Worldwide telecommunications deregulation has created enormous growth opportunities. The industry is worth $150 billion and is rapidly expanding. Markets are opening throughout the world, as nations rush to bring their phone networks into the 21st century.
· Virtually every phone call, every Internet access call, every fax, every e-mail requires a phone line and generates revenue for the telecommunications industry.
Total World Telecommunications, Inc. (NASDAQ Small Cap:TWTI), through its subsidiary Total World Telecom (TWT), one of the nation’s 20 largest long distance carriers, is positioned to profit from the worldwide boom in telecommunications:
*TWT owns 10 Siemens Stromberg-Carlson tandem switches in major U.S. cities, serving over 80% of the U.S. market with a state-of-the-art digital and fiber optic network.
*TWT’s revenues have grown dramatically since its inception in 1991 with revenues for fiscal 1997 projected to exceed $100 million.
*TWTI recently acquired NETTouch Communications, Inc., of Dallas, Texas, which markets under the brand name N’Touch, in an all cash transaction of $7.2 million.
*TWT has a proven ability to attract international business and has developed clients worldwide from the Pacific Rim to South America and Europe.
THE COMPANY
Based in Houston, TWT was founded in 1991and set out to build an infrastructure of high quality Siemens tandem switches throughout the United States to support a state-of-the-art fully redundant fiber optic network. By year end 1996, 10 switches were in place, serving over 80% of the country. This network serves the telecommunications needs of the increasingly price conscious and technologically savvy consumer by providing a wide array of services, including flat rate pricing, dedicated access, and 800 toll-free inbound calls.
In the summer of 1996, TWT joined forces with publicly traded International Standards Group Limited and changed ISGI to TWTI. This strategic move allowed TWT to access public markets and establish itself as a viable player in the global telecommunications markets. In December 1996, TWTI acquired NETTouch Communications and its licenses to the virtual office technology of Telecommunications Resources, Inc. This important step in its drive to become a major player in global telecommunications allows TWTI to offer voice mail, paging, text to screen e-mail, and a host of other virtual office services to the home-based business market. TWT’s utilization of this technology will add significantly to the company’s already high growth.
Now, with the switching infrastructure in place to attract and sustain quality business, the financial resources to sustain its tremendous growth, and the ability to provide virtual office services, TWT seeks to increase its customer base through the efforts of a growing team of satisfied agents and resellers and by strategic acquisitions.
THE MARKET
The telecommunications industry is booming. Fueled by deregulation here and abroad, driven by technological revolution, telecommunications companies are no longer the boring phone company of the past. Think of it: every time you make or receive a phone call, each time someone logs on to the Internet, whenever you send a fax or receive an e-mail, the telecommunications industry earns additional revenue. And with every video conference, cellular phone, or other technological innovation, the opportunity for revenue increases.
According to the International Telecommunications Union, the nations of the world plan on spending approximately $60 billion per year through the year 2000 to build 310 million main lines, two thirds of them in developing countries, home to 80% of the world’s population.* Why? Because countries now recognize that economies won’t develop and incomes won’t increase without top-notch communications systems.
*Business Week, Sept 18, 1995, "The Last Frontier," p. 100.
BUSINESS STRATEGY
Total World Telecom plans on being one of a handful of worldwide communications gatekeepers, offering everything from dial tone to voice recognition to domestic and international customers.
· To that end, TWT has switches in New York, Washington D.C., Miami, Houston, Dallas, Atlanta, Chicago, Kansas City, Los Angeles, and Seattle, with more planned in both domestic and international markets.
· To insure future growth, TWT entered the public finance markets.
· To provide additional communications services and features, TWT acquired the rights to virtual office technology.
· To further enhance its high growth, TWTI has targeted 6 to 8 acquisitions within the next 12 to 18 months.
Every telecommunications carrier with less switching capacity--and there are many--and every reseller looking for a state-of-the-art, fully redundant fiber optic network is a potential customer. TWT will continue to develop its domestic business while expanding further into Europe, Mexico, South Africa, Central America, South America, and Asia. TWT is positioned to take advantage of the future. TWTI CEO Joseph Lents states: "As we move towards the next millenium, our corporate mandate is to not only meet our revenue projections but to exceed them."
MANAGEMENT
To guide it into the 21st century, TWTI has a team of experienced professionals committed to delivering optimum service to its customers.
Joseph L. Lents has been a Director of Total World Telecommunications, formerly ISGI, since January 15, 1991 and Chairman of the Board and Chief Executive Officer since March 29, 1991. Mr. Lents was the founder, Chairman of the Board, President, and Chief Executive Officer of FSGI since November 1, 1989. Mr. Lents is also co-founder of Nearman & Lents, CPA’s, which was organized in May 1979. Mr. Lents co-founded the National Association of Credit Union Supervisory and Auditing Committees ("NACUSAC"), which is the only national organization devoted entirely to supervisory committees and which includes a membership of over 200 credit unions.
Donald W. Booth has been a Director of TWTI since August 2, 1996 and President since November 1, 1996. In 1991, Mr. Booth founded Total World Telecom and was President until it was acquired by TWTI in June 1996. Between 1988 and 1991, Mr. Booth was Vice President of Sales for Cypress Telecommunications, Inc. Mr. Booth has been in the telecommunications business for more than fifteen years.
Arnold Salinas has been a Director of TWTI since August 2, 1996 and Executive Vice President of Sales and Marketing of Total World Telecom, Houston, since July 1, 1996. In 1993, Mr. Salinas co-founded and was President of Global Communications Group, Inc., a company that provided telecommunications services to Eastern European countries. Mr. Salinas has more than fifteen years telecommunications experience.
Steve Reemts is the Executive Vice President of Operations of Total World Telecom. He has over fourteen years experience in the telecommunications industry, including military service. As a member of the U.S. military, he was part of a team that tested and certified for use all digital switching and transmission equipment used by the military in tactical and fixed station applications.
FOR FURTHER INFORMATION CALL: 1-888-661-4744
TOTAL WORLD TELECOMMUNICATIONS, INC.
3200 North Military Trail
Suite 300
Boca Raton, Florida 33431
The StockUp Report does not constitute a solicitation to buy the securities of any company. This Report is provided to you for informational purposes only. MDC has been compensated by the above referenced company in cash and also has a position in its securities, but those securities are restricted from sale for at least one year from the contract signing date. Any profile information about the above referenced company has been provided by the company. MDC makes no claim to the accuracy of that information. MDC does confirm the marketing program that is underway. As with any investment, you should consult a registered investment advisor.
Owned and Operated by Marketing Direct Concepts, Inc.
© Copyright 1996 Marketing Direct Concepts, Inc. All rights reserved. |
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| To: afrayem onigwecher who started this subject | 2/1/2003 4:19:01 PM | | From: StockDung | | | | IVSO: DJN: DJ IN THE MONEY: Investco CEO's Link To 'Mob On Wall Street'
(Dow Jones 05/06 13:55:47)
By Carol S. Remond
A Dow Jones Newswires ColumnNEW YORK (Dow Jones)- Joseph Lents has a problem.
U.S. securities regulators have halted trading in the shares of the latest
company he runs, a financial startup called Investco Inc. (INVSO).
That trading halt follows a report by this newswire that a key acquisition
the company says it made never happened.
But it's not the first time a company headed by Lents has caught the
attention of federal authorities. In the mid-1990s, Lents entered into a
deal with a man who was later identified as a figure in the infamous "Mob on
Wall Street" affair.
The Lents involvement in that case began in the summer of 1994 after an
aggressive short seller named Philip Gurian began putting pressure on the
shares of the company Lents ran at that time called International Standards
Group Inc.
Gurian recalls having his first talk with Lents while Gurian was vacationing
at the swanky Byblos Hotel in St. Tropez on the French Riviera.
During that telephone conversation, according to Gurian, the two agreed that
Gurian would stop short selling shares of International Standards Group. In
exchange for that promise, Lents would issue shares of International
Standards Group at a steep discount to firms in the Bahamas controlled by
Gurian and his associates under a U.S. securities provision called
Regulation S, which allows sales of unregistered stock to foreign investors.Gurian and four others were charged in 1999 in a 21-count federal indictment
including charges of mail fraud, wire fraud, securities fraud, interference
with commerce by extortion, conspiracy to commit money laundering and
witness tampering. Lents has never been charged with wrongdoing although the
stock transactions with firms controlled by Gurian and others were mentioned
in the federal indictment. Lents has not been available to answer questions.
A lawyer representing Lents has declined to comment on Lents' previous
involvement with Gurian.
Gurian pleaded guilty to one count of conspiracy to commit mail fraud, wire
fraud and securities fraud and one count of mail fraud. He is awaiting
sentencing.
According to the indictment by the U.S. District Court for the Middle
District of Florida, here's a typical way the scam worked:
Several small U.S. companies issued deeply discounted stock under Regulation
S to several mob-controlled firms in the Bahamas. These firms would turn
around and, through two Florida companies secretly controlled by Gurian -
Sovereign Equity Management Corp. and Falcon Trading Group Inc.- sell the
shares back to the U.S. public at market value, reaping a huge profit.
Published reports have indicated that Gurian controlled Sovereign Equity and
Falcon Trading on behalf of Philip Abramo, a man who federal investigators
identified as a captain in the DeCavalcante organized crime family from New
Jersey.
The 1999 indictment alleges that around November 1994, Lents filed false and
fraudulent subscription agreements for a Regulation S distribution of stock
to Caspian Consulting Ltd., one of the Bahamas corporations set up by Gurian
and others.
The indictment also states that between Jan. 1, 1995, and July 23, 1997,
Lents filed false and fraudulent Regulation S registration statements with
the Securities and Exchange Commission, selling International Standards
Group stock for 50 cents a share to Caspian Consulting, Maraval & Associates
Ltd. and Limelight Ltd., two other Bahamas corporations.
The SEC declines to comment on International Standards Group and its
issuance of Regulation S shares.
Lents later told the government that Gurian threatened his life if he told
the truth to federal agents, according to the indictment. Gurian told Dow
Jones Newswires he never threatened Lents.
SEC filings show that from September 1995 to December 1996, International
Standards Group and its successor company, Total World Telecommunications
Inc., sold $37.9 million worth of stock under Regulation S.
So much stock that by September 1996, Caspian Consulting and another
Bahamian firm called Reinerman Holdings Ltd., had become major shareholders
of International Standards Group, seemingly controlling 3% and 6% of the
company's stock, respectively.
International Standards Group's transactions with mob-controlled offshore
companies didn't stop at Regulation S stock issuance. A press release shows
that Lents' company entered into a joint venture with Maraval in September
1995 to market real estate and financial services via the Internet through
Florida Homes Info-Net, a wholly owned subsidiary of International Standards
Group.
The SEC amended Regulation S in early 1998, acknowledging in a release to
the public that it's "been used as a means of perpetrating fraudulent and
manipulative schemes, especially schemes involving the securities of thinly
capitalized or 'microcap companies'." Specifically, the SEC lengthened the
period during which offshore buyers of U.S. securities must hold shares
bought under Regulation S to one year from 40 days, making it much more
difficult to quickly profit by reselling those securities.
The 1999 Federal indictment that detailed Lents' Regulation S activity named
five defendants: Gurian, Abramo, Glen Vittor, Louis Consalvo and Barry
Gesser. Abramo and his bother-in-law Consalvo were separately indicted in
2000 in New York on charges including securities fraud and murder. Abramo
and Consalvo are trying to withdraw their Florida plea agreements.
Now, Lents is chief executive of Investco. Trading in Investco's shares has
been halted by the SEC until May 10. As reported by Dow Jones Newswires last
month, the reported acquisition of a Costa Rican insurance company by
Investco never took place, a fact the company failed to tell investors. The
company had touted the purchase in press releases as the cornerstone to its
plan to transform itself into a financial services provider.
Dow Jones Newswires also raised a number of questions about the number of
Investco shares outstanding and about Michael Zapetis, chairman of
Investco's controlling shareholder, First International Finance Corp.
Zapetis is a convicted drug smuggler who had a couple of run-ins with
Florida state banking regulators, none of which was disclosed to Investco
shareholders in any of the company's public SEC filings or press releases.
Lents has not been available for comment about Investco's activities. And
the SEC declined to comment further about the trading halt.
On Monday, the SEC halt of trading in Investco stock appears to have cost
the company its listing on the Over-The-Counter Bulletin Board. Nasdaq
delisted the company because there was no active quote for Investco shares
for four consecutive days.
By Carol S. Remond; Dow Jones Newswires; 201 938 2074;
carol.remond@dowjones.com. |
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| To: afrayem onigwecher who started this subject | 2/1/2003 4:29:49 PM | | From: StockDung | | | | Private Investigator Uncovers The Shady World Of Stock Scams, Tips And Spams
Gambling Magazine's Private Eye has been busy over the holiday period, looking into the shady world of stock hype and, specifically, Starnet's PR companies that set out to defraud investors. They were especially keen on "heightening investor awareness," that is making investors so hyped up with Starnet's "enhanced corporate credibility" that they would believe all the phony press releases sent out by the Italian "Big Pot" from the east coast.
STARNET PR COMPANIES IN HISTORY
"At MDC, our focus is on positive, bottom-line results," said CEO Michael Calderone.
STARNET COMMUNICATIONS INTERNATIONAL INC. HIRES U.S. BASED PUBLIC RELATIONS FIRM
Wilmington, DE, February 19, 1998 - Starnet Communications International Inc. (NASD OTC-BB: SNMM) ("Starnet") is pleased to announce that it has engaged Marketing Direct Concepts, Inc. ("MDC") to assist in Starnet's investor relations.
MDC (http://www.mdcinc.com) is a corporate business development and public relations company operating from the gaming community of Las Vegas, Nevada. MDC uses a comprehensive, international approach in reaching and motivating potential investors: media relations, publication in MDC's proprietary website and print newsletters, and a database of American stockbrokers, fund managers and stock analysts.
"At MDC, our focus is on positive, bottom-line results," said CEO Michael Calderone: "heightened investor awareness, enhanced corporate credibility, increased trading activity and favorable stock valuation."
Starnet (www.starnetcommunications.com) is an interactive entertainment company that identifies and commercializes Internet technologies for established markets.
Starnet's wholly owned subsidiary World Gaming Services Inc. (www.worldgaming.net) is a full-service gaming system (casino games, sports betting, lottery ticket sales, horseracing) licensed to accept real-money wagers via the Internet. World Gaming's sister subsidiary, Softec Systems Caribbean Inc. (www.softecsystems.com), licenses turn-key, customized Internet gaming systems (similar to World Gaming) to eligible third parties in exchange for participation in those licensees' net gambling revenues.
PC Computing magazine has estimated that the Internet gaming market could reach $20 billion US in annual revenues by the turn of the century.
Starnet's relationship with Global Media (Canada) Corp. has been terminated, and it is expected that a U.S. based public relations firm may more effectively target prospective Starnet investors.
For further information, please contact Starnet Investor Relations:
Toll-Free: (888) 777-6458
Telephone: (604) 685-7619
Facsimile: (604) 684-0391
E-Mail: ir@starnetcommunications.com
The statements in this press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934 and is subject to the safe harbour created by these sections. Actual results may differ materially from the company's expectations.
==================================================
Michael Calderone -- Please trust a lying spammer to give you Stock Market tips
fortunecity.com
Michael Calderone (means a "big pot" in Italian) an east coast fellow trying to make it big in Vegas (just think Elvis played by Joe Pechi) and his little buddy Rys Fairbrother first started spamming via junk email that directed people to their webpages. As we know, spammed webpages don't last too long, although his spammed Verio/Dakota.net pages were up for quite a while.
Then with their combined intellect (not saying too much here!), they decided an even better way to spam was to send out phony press-releases to PR Wire, Business Wire, and Yahoo Biz. These releases contain 100's of popular stock symbols so anyone watching for news on their favorite company would get the junk pointing them to the Stockup.com pages. Lame.
Here we have the "Big Pot" himself, at home early one morning.
Michael Calderone
Marketing Direct Concepts
9428 Saltwater Crt / Salt Water Crt
Las Vegas, NV 89117
333 N. Rancho Dr. Suite 900
Las Vegas, NV 89106
The Association for Investor Awareness (INVESTORAWARE2-DOM)
303 S. Broadway Suite B #350
Denver, CO 80223
Stockup.com, Inc - Previously known as Courtleigh Capital Inc.
Stockup.com, Inc - A Publicly Traded Company OTC-BB: PFER (Was: OTC-BB: SKUP)
Click HERE to tell them, and others, what you think of their company.
Stockup.com also made it into Financialweb's Stock Detective stock hyper list.
Stockup.com is associated with convicted murderer and stock fraud scammer Eddie Williamson -- now isn't that a surprise!
Marketing Direct Concepts, Las Vegas
Kurt Divich, 888/632-4653
They represent Stinky Stock company, Saf T Lok, Inc. Can we say sleazy boys and girls?
StockUp! Financial Web, 888/63-2GOLD
Marketing Direct Concepts, Larry Isen, 702-648-6400
PR for a suspect MLM phone scam -- publicly traded stock!
NetRep Consulting, Inc. (emarketgroup)
10117 Jacob Place #203
Las Vegas, NV 89134
702-248-2448 (Home number)
702-243-8766 702-838-0268 702-838-0268 702-221-8811 702-593-6973 702-648-8560
702-648-6400 (FAX) 702-638-9096
888-342-3800
Rys Fairbrother
5931 NE Davis St
Portland, OR 97213-3817
2266 NW Dogwood
Madras, Oregon 97741
503-231-1639 / 541 962 7771
ryton@teleport.com
rys@stockup.com
helpdesk@stockup.com
help@stockup.com
stocktalk1@hotmail.com
kerry@stockup.com
rys@icount.com
billing@mdcinc.com
webmaster@investoraware.org
cpope@stockup.com -- Clinton Pope
mdcinc.com
stockup.com
Starnet Communications stock hyping
stock-up.com
stocksandmore.com
stocksnmore.com
stocksinplay.com
stocksnplay.com
showcasedstocks.com
stockwatch98.com
trewq.com.com
tgbnhy.com
emarketgroup.com
internetcount.com
stocksnfocus.com
stocksinfocus.com
stockobservers.com
stocksurge.com
hotnewshere.com
oshmansinfo.com
diamondsanddogs.com
researchsource.net
marketwatch98.com
viewonthemarket.com
marketinfosource.com
quotestream.com
sportsstream.com
sportsstream.net
sportsstream.org
realtimetickers.com
realtimetickers.net
realtimetickers.org
broadcastquotes.net
broadcastquotes.org
realtimeticker.com
realtimeticker.net
realtimeticker.org
myprivateportal.com
myprivateportal.net
myprivateportal.org
investoraware.org
ladystream.com
liveandfast.com
liveandfast.com
myportal.org
kidsstream.com
preferencetechnologies.com
preferencetechnologies.net
4healthstream.com
4healthstream.net
entertainmentstream.com
And we leave you with a couple of investment rules from their website: #7. One should never permit speculative ventures to run into investments. #27. Few people ever make money on tips. Beware of inside information. Follow the advice and stay far away from shady stock scams! Now that you've been warned, if you want to listen to the Big Pot 'educate and entertain' you, you can listen to his past ranting at this webpage. [AUDIO MISSING: 3/99]
Feb. 9, 2000 - StockUp.com, Inc. (OTCBB: SKUP), announced today that, effective February 23, 2000, the company will change its name to Preference Technologies, Inc., which will be traded under the symbol PFER. "Preference Technologies" more accurately describes the business and operations of the company," said Michael Calderone, CEO and president of StockUp.com, Inc. "The 'StockUp.com' name does not adequately convey the broad scope of our business and philosophical model." -- Huh... we thought it should have been 'Spamming Technologies.'
============================================
Kansas Ex-Convict Charged in Web Fraud of 1,000 Investors
Washington, Nov. 9 (Bloomberg) -- An ex-convict from Wichita, Kansas, and five companies were charged by regulators with allegedly defrauding 1,000 investors out of as much as $1.3 million in unregistered securities sold mostly over the Internet.
U.S. District Judge Wesley Brown froze the assets of 53-year-old Edward B. Williamson; Fifth Avenue Communications, supposedly Williamson's public relations firm; and Net World Marketing Inc., which says it operates an Internet shopping mall and was overseen by Williamson's wife, the Securities and Exchange Commission said.
The SEC also said assets also were frozen for Andros Hotel & Casino Inc., which claims to own two tracts of undeveloped land in the Caribbean; AutoAuction.com Inc., a Web site that purported to sell cars over the Internet; and AGE Investment Co., which is located in Williamson's Wichita office and was named a "relief defendant" in the case. The judge also appointed a receiver in the matter, the SEC said.
An attorney for Williamson was unavailable for comment. Williamson has a criminal record, including a 1967 murder conviction and a 1992 felony conviction for stealing money from his elderly mother, the SEC said. Williamson also was convicted of wire fraud in 1997 when he tried to bribe FBI agents posing as stock brokers, the SEC said. The National Association of Securities Dealers expelled him from the financial services industry in 1993, the SEC added.
Investors in Dark
Beginning in at least April 1997, Williamson used Fifth Avenue Communications and the other companies named in the case to fraudulently sell $1.3 million in securities to more than 1,000 investors nationwide, the SEC said.
Investors, who were kept in the dark about Williamson's role in the operations, were told that proceeds from the various offerings would be used for legitimate businesses, the SEC said. Roughly one-half of the $1.3 million raised in the Net World offering, alone, was siphoned off by Williamson and his connections, the SEC said.
After selling unregistered shares of common stock of Andros, Net World, and New Horizons, the defendants tried to manipulate the value of the securities by spreading false information over the Internet and in press releases, the SEC said.
Williamson also violated a cease-and-desist order issued by the SEC on June 13, the agency said.
The SEC urged investors, before buying any investment promoted over the Internet, to read "Cyberspace Alert," which is available on the SEC's Home Page under the Investor Assistance and Complaints link at www.sec.gov. The publication alerts investors to the telltale signs of online investment fraud, the SEC said. The SEC also urged investors to report suspicious Internet offerings via e-mail to enforcement@sec.gov.
Nov/09/2000 17:50 ET
For more stories from Bloomberg News, click here.
(C) Copyright 2000 Bloomberg L.P.
==================================
PREFERENCE TECHNOLOGIES INC filed this 10-Q on 11/20/2000
tenkwizard.com er=
On September 1, 2000 the Company secured a $150,000 loan from Jeffrey Jolcover, an employee of Preference Technologies, Inc. for working capital purposes. The Note carries no security arrangements, escrow arrangements, registration rights nor UCC agreements. The loan is due on September 11, 2000 and has an interest rate of 12% per annum, 75,000 common stock warrants, with a strike price of $1.10 and a five year expiration on the due date. Should the Note not be paid promptly, the Note holders at their option can convert the payment to shares of common stock at a conversion price of $.10 per share. The Note was extended to October 11, 2000 and is not yet paid.
Friday, March 20, 1998
Huge fraud brings plea, cooperation
An accountant involved in a wireless cable investment scam pleads guilty in Las Vegas.
By Carri Geer
Review-Journal
A certified public accountant pleaded guilty Thursday to conspiracy and money laundering charges for his role in defrauding investors nationwide of an estimated $35 million.
Federal prosecutors filed the charges against Jeffrey Jolcover under seal Thursday morning after reaching a plea agreement with him. The charges stem from the sale of interests in wireless cable ventures.
Jolcover's attorney, Joseph Cronin of Minden, briefly commented on the case after his client's court hearing.
"This has been a long process of approximately two years cooperating with the government, and we're both relieved that we've reached this stage and we're looking forward to the final resolution of this matter in June," the attorney said.
U.S. District Judge Howard McKibben is scheduled to sentence Jolcover on June 15.
Jolcover, a 43-year-old Las Vegas resident, pleaded guilty to one count of conspiracy to commit securities fraud, mail fraud and wire fraud; and one count of money laundering.
Although federal officials declined to make any formal statements regarding Jolcover's plea agreement, a source close to the case said the investigation is continuing and others may face charges.
According to Jolcover's written plea memorandum, also filed Thursday, "The defendant agrees to provide complete and truthful information and testimony concerning his knowledge of all other persons who are committing or have committed offenses against the United States, and agrees to cooperate fully with the government in the investigation and prosecution of such persons." Jolcover faces an estimated prison sentence of 57 to 71 months, according to the document. Prosecutors told McKibben they would recommend a term of five years or less if they decide Jolcover has given them "substantial assistance." The plea memorandum claims that, had the case gone to trial, prosecutors could have established that:
--Jolcover joined with a Las Vegas businessman and a Las Vegas attorney to offer investments in wireless cable ventures "in a manner calculated to deceive the investors."
--The sale of interests in those ventures raised about $35 million from investors throughout the United States.
--Between about January 1991 and mid-1995, Jolcover and others caused the creation of corporations to effectuate the sale of the investment interests, opened bank accounts to receive investor funds, and caused the creation and distribution of promotional literature "calculated to deceive investors."
--Jolcover and others, through the various corporations they controlled, caused the solicitation of investors through high-pressure telephone sales. They also conspired to misrepresent the true nature of the wireless cable investment opportunity being sold and the actual use of investor funds. "The operations of defendant Jolcover and other conspirators were centered in Las Vegas, Nevada," the plea memorandum states. "The promotional literature was printed in Las Vegas and was shipped from Las Vegas via Washington, D.C., to investors throughout the nation. A portion of the investors' funds were eventually wired to bank accounts in Las Vegas, Nevada, over which the conspirators exercised control."
According to the document, the money laundering charge stems from an October 1994 incident in which Jolcover caused $275,000 -- money illegally raised from investors -- to be deposited into a brokerage account in Reno.
"A substantial portion of these funds were then transferred to and deposited into an offshore bank account, said transaction being designed to conceal the ownership of the transferred funds," the document states.
Jolcover worked as an accountant for the state Gaming Control Board from 1977 to about 1979 and later operated his own accounting practice in Nevada. David Dantzler, an Atlanta attorney representing a court-appointed receiver involved in recovering investor funds, said he doubts any of the investors will recoup their losses.
Dantzler said the receiver, along with his attorneys and financial consultants, conducted an 18-month investigation as part of a Securities and Exchange Commission enforcement action against Jolcover and others involved in the sale and promotion of the investments.
"Within a matter of weeks, or certainly months, we concluded that these offerings were fundamentally fraudulent," he said.
Dantzler said the evidence gathered during that investigation formed the basis of the charges against Jolcover.
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| To: jjs64 who wrote (418) | 2/1/2003 5:04:53 PM | | From: StockDung | | | | The Benefits of Conducting Business With Marketing Direct Concepts, Inc.
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