|To: Kevin Podsiadlik who wrote (264)||9/22/2001 2:46:16 PM|
|" and also receives "dirty" money from criminal groups and from arms deals. The victim says Pastrana then launders the money through his sharemarket scam, doubly profits"|
Herald Sun: Boiler room racket hits investors [ 05aug01 ]
Boiler room racket hits investors
By ADRIAN TAME and MANDI ZONNEVELDT
HUNDREDS of Australians have lost millions of dollars in the world's largest sharemarket scam.
The racket was masterminded by a shady Filipino, Amador Pastrana, 31, who has made $6 billion in eight years. Pastrana is on the run. The FBI will move soon to close the global operation, but it will be too late for the Australians – two of whom are known to have been cheated of $400,000 each. Last week's raid on a boiler room – a sophisticated, "cold calling" operations centre – in the Thai capital of Bangkok was the tip of a fraudulent iceberg. Pastrana, according to one of his victims, has built an empire of 50 boiler rooms in nine countries, and also receives "dirty" money from criminal groups and from arms deals. The victim says Pastrana then launders the money through his sharemarket scam, doubly profits. Pastrana regularly works 20-hour days, seven days a week and has become one of the world's richest people. He is close to the Thai royal family, various archbishops and also is a friend of disgraced former Philippines president Joseph Estrada. Australia has been one of the countries most heavily targeted by Pastrana and his army of high-pressure telephone salesmen. But last week's arrest of 80 people in Bangkok was just the "tip of the iceberg", according to the Australian Securities and Investments Commission. ASIC officials warned that unlicensed brokerage firms are still operating in Asia. Thailand's securities watchdog, the Securities and Exchange Commission, has asked police to file criminal charges against seven men who allegedly ran Bangkok-based stock trading firms that tried to scam investors, mostly in Australia and New Zealand. The SEC alleges the seven men headed stock brokerage firms without a licence from the Thai Government. It says they sought to sell shares of non-existent or dubious companies to investors. The seven are John Martin Kealy, Ronan Joseph Murray, Paul Mary Hickey, Scott Campbell Fisher, Jason Garrick Rich, Adrian Robert Wallis and Steven Hooper. The SEC provided no details about them. Hickey, an Irishman, and Fisher, an Australian, are in custody. The unlicensed firms employ English-speaking backpackers in Asia to "cold call" people, encouraging them to buy shares on the stock market. People are pressured into investing thousands of dollars – which usually disappears. ASIC's executive director of consumer protection, Peter Kell, said the latest arrests were only a deterrent. "Quite a few cold callers will continue to exist and consumers need to be vigilant to make sure they are not tricked," Mr Kell said. ASIC has been flooded with thousands of phone calls since the Thai arrests. Overall losses are believed to be billions of dollars and by fraudulently using the stock of just one company, Berten USA, Pastrana has fleeced Australian investors of $25 million. The company's president, James Martin, claims if US authorities and the FBI had listened when he warned them a year ago of fraudulent transactions in his stock, up to 90 per cent of the Australian losses could have been avoided. Instead, US authorities told Mr Martin there was nothing they could do about the scam because it had not taken place on American soil and they had received no complaints from US victims. It was not until Pastrana made his first major mistake in nine years – he forged Mr Martin's signature on a document – that the FBI began an inquiry. Berten USA started as a legitimate manufacturer of men's cologne. After being dormant for a decade, Berten was purchased by an American known as "Dan", who is implicated in Pastrana's operation, and is a suspect in a $1.8 million US security fraud. "Dan" sold Berten as a shell company to Pastrana shortly before he introduced the Filipino to Mr Martin. At the time, Mr Martin was operating a legitimate Silicon Valley company called Stratasys and needed investment capital. "Dan" suggested Pastrana to Mr Martin as a potential source of the investment capital. Pastrana agreed to invest $US7.5 million on condition Mr Martin used Berten as the vehicle and became company president. Pastrana's background appeared impeccable and among his references was then-president Estrada. "He was going to put in $US7.5 million to add to the $US2.5 million my colleagues and I had invested," Mr Martin said. "When I first met him in December 1999, he was charming and deeply concerned I was happy with everything he was doing. It was a class act, very accomplished and polished." Mr Martin and Pastrana met regularly over the next year and all went well until Mr Martin caught two employees planning to embezzle $600,000 from Stratasys. "I fired them immediately, and then I received a quite forcible call from Pastrana saying I should reinstate them," he said. "That's when I first smelled a rat." His suspicions were soon confirmed when he started receiving phone calls from Pastrana's friends asking when he was going to float Berten USA. Information of that nature is illegal insider trading. In August last year, following his float, Mr Martin went to the authorities and asked them to take his stock off the market. But it already was too late. Mr Martin and his friends lost their $US2.5 million original investment and Mr Martin lost a further $US27.5 million. He was declared bankrupt but later discharged. He then set off to trace investors who had lost money. So far he has been to Australia, New Zealand, Germany, Austria, Switzerland and South Africa. The FBI had Pastrana under surveillance for weeks and was due to arrest him and close his operation any day. But last week's Thai-led raid on the Bangkok boiler room, which snared 10 Australians and 70 other foreigners, was premature. Mr Martin said Thai officials had needed a boost for a local election and the raid provided the opportunity. The original plan was for simultaneous raids on 25 boiler rooms in 15 countries but the other boiler rooms have now been warned. And, Mr Martin said, one of the two companies named by Thai police after the raid, Benson Dupont Capital Management, was one of the least effective cogs in Pastrana's operation. "Everybody they picked up in the raid was very small fry," he said. Mr Martin left Australia on Wednesday after meeting defrauded investors. "For the past two months I have been touring the world tracing investors who have been burned," he said. "There is no legal obligation to do this, but I see it as a moral obligation. These people placed their faith in my company and have lost large amounts. "Their reaction to me has been understandably suspicious to begin with, but I have addressed a lot of meetings now, and generally my version of events has been accepted." Mr Martin has compiled detailed lists of many of the 4000 victims worldwide who bought worthless shares in Berten USA and has put together an international "hit parade" of the worst-hit countries. He believed it was almost impossible to work out global losses on companies manipulated by Pastrana. "He picks up five new companies every month, aiming for 60 a year. He plugs and dumps them at the same rate," Mr Martin said. "Berten is the only one I know about in detail and investors lost $25 million in Australia alone in under a year. "If you start multiplying that figure by 60 times a year for nine years, you are probably starting to get close."
|RecommendKeepReplyMark as Last ReadRead Replies (1)|
|To: StockDung who wrote (288)||9/22/2001 6:35:29 PM|
This is incredible stuff. Kudos for posting. I've read many similar things, including history going back to Prescott Sr.
Now it wouldn't surprise me if this stuff were true. Rulers, throughout history, have relied on the fact that the masses are too busy with their day to day desires and fears to really find out about what is really going on around them.
If there is significant truth to any of this, it makes one wonder who the enemy really is.
Of course it also raises a lot of issues which may detract from the conspiracy theories.
If any of this is true, why was there so little brought up in any of George (43) Bush's recent elections? Given the dirt from both campaigns, it's hard to imagine that this type of political dynamite would not be used by opposnents, media, nuts, etc. It makes Gore's indiscretions (and even Clinton's peccadildoes (sp?? lol) and Lincoln Bedroom scandal seem like very small potatoes.
If the real rulers of the world are a group of elite, united by money that transcends religious, ethnic, class and geographic differences, then it should be easy to get rid of the Taliban and take care of most of the world's problems.
So what we have are theories that could be true, but if true, so go against common sense analysis to cause readers to question credibility.
Don't get me wrong. I'd love to know the answers to the real issues of the world, starting with who really killed JFK. It's much easier to think that we are the only nation that doesn't manufacture history or re-write it ex post facto.
As for GENI, I've never followed it, but am now intrigued. How about a 3 paragraph summary of your views?
1) It's a scam because ---
2) Is Khassogi still involved?
3) If these guys really control the world, can retail shorters really bring them down? A fortiorari, given the recent history and the rise of patriotic ferver which will mitigate desires to question leaders of the world.
I've got my Wanted Dead or Alive shirt with Bin Laden's ugly puss on it and my flag in hand, as well as my own small arsenal in case of local conflagration. But I welcome your attempts to get to the answers of the most troubling questions in our history.
BTW, do you know where any of Bin Laden's billions are located? Does he own equities or does he just short?
|RecommendKeepReplyMark as Last ReadRead Replies (4)|
|To: rrufff who wrote (289)||9/23/2001 8:02:35 PM|
|THE TRUTH COMES OUT ON KHASHOGGIS BANK WHICH PROMOTED THAON (otc BB THAO) ON THEIR WEB SITE. gcbankag.com . |
Seems on internet slueth jjs64 was one step ahead of the crooks. Thoan used to be called Castpro
Castpro - Fraud In The Making? Subject 32600
from 'THE FORMAT" format.at TRANSLATED
"the "mastermind of the operations" according to the FBI are the US citizens Regis Possino and Sherman Mazur. 52-year old Possino appeared in Vienna last Summer for the first time where he resided in an "approbiate" luxury flat in Radisson SAS Palais (Rent: 62.500 ATS)"
Police is investigating also in Vienna
FBI is acting against a gang of worldwide active financial artists who allegedly bilked gigantic 15 Billion ATS (1 Billion USD) from clients. Since last Autumn, the instigators of the gang own a banking corporation in Vienna. The police is investigating.
Behind the facades of the small "General Commerce Bank AG" which operated under federal administration since last year [the police] believes to find certain information about a large scale scam. Two weeks ago the US federal police has discovered the scandal after having conducted investigations for more than one year and through infiltration of undercover agents.
After the Australian exchange commission has been pressed by defrauded customers, 10 days ago a big sweep in Bangkok too place: Supported by the FBI, the local police arrested 81 suspects, mostly Europeans. The gang is accused of running a worldwide network of brokerage offices, so called "Boiler Rooms", first artificially raising the prices of worthless stocks and then selling them to thousands of clients. In the next days, sweeps are "scheduled" in further 9 cities on 3 continents.
The FBI dossier: Fraudsters bilked out one Billion Dollar
The format is exclusively in possession of the FBI report in which the shocking dimensions of the deals are described: It lists the names of 18 Boiler rooms, reaching from the Philippines over Thai to Singapore and Czechia, in which the gang has cashed in the amazing sum of 1 Billion Dollars, about 15 Billion Schillings.
For the Austrians it is very revealing what the FBI dossier says about the perpetrators of the affaire: In the organisation hierarchy ranked behind Manila and Los Angeles based Amador Pastrana, the "mastermind of the operations" according to the FBI are the US citizens Regis Possino and Sherman Mazur. 52-year old Possino appeared in Vienna last Summer for the first time where he resided in an "approbiate" luxury flat in Radisson SAS Palais (Rent: 62.500 ATS)
Kashoggi-Coup in Vienna
The Belgian Raoul Berthaumieu who grew up in Canada appeared as the new chairman of the banking corporation which is working with a restricted banking license as broker house: In turn, Berthaumieus particular contacts to glowing con artists resulted in a new shareholder for the bank: the legendary arabian arms dealer Adnan Kashoggi.<?B>
Die Wirtschaftspolizei ermittelt auch in Wien
Das amerikanische FBI geht gegen eine Truppe weltweit agierender Finanzartisten vor, die von Kunden gigantische 15 Milliarden Schilling abgenommen haben soll. Die Drahtzieher besitzen seit vergangenem Herbst eine Bank in Wien. Die Wirtschaftspolizei ermittelt.
Hinter den Fassaden der seit dem Vorjahr unter Geschäftsaufsicht stehenden kleinen General Commerce Bank AG in der Wiener Schlickgasse 1Bank vermutet man aufschlußreiche Antworten zu einem gigantischen Betrugsfall. Die US-Bundespolizei hat den Finanz-Skandal nach mehr als einjährigen Ermittlungen und durch die Einschleusung von Undercoveragenten vor zwei Wochen hat aufgedeckt.
Nachdem die australische Börsenaufsicht von geleimten Kunden bombardiert worden war, kam es vor zehn Tagen in der thailändischen Hauptstadt Bangkok zur ersten Großrazzia: Unterstützt von FBI-Beamten, nahmen Polizisten 81Verdächtige, großteils Europäer, fest. Der Truppe wird vorgeworfen, in einem weltumspannenden Netz von Börsenmaklerbüros, sogenannten "Boiler rooms", zuerst die Kurse wertloser Aktien künstlich in die Höhe getrieben und sie dann an Tausende Kunden verklopft zu haben. Dieser Tage sind Razzien in weiteren neun Städten auf drei Kontinenten vorgesehen.
Das FBI-Dossier: Finanzbetrüger ergaunerten eine Milliarde Dollar
Das FORMAT exklusiv vorliegende FBI-Dossier beschreibt die atemberaubenden Dimensionen der Deals: In 18 namentlich angeführten Boiler rooms, von den Philippinen über Thailand bis Singapur und Tschechien, hat die Truppe die sagenhafte Summe von einer Milliarde Dollar eingestreift - umgerechnet mehr als 15 Milliarden Schilling.
Aus österreichischer Sicht besonders aufschlußreich in dem FBI-Dossier sind die Protagonisten der Affäre: Hinter dem in Manila und in Los Angeles residierenden Amador Pastrana, laut FBI "Mastermind der Operationen", bekleiden nämlich die beiden US-Amerikaner Regis Possino und Sherman Mazur die wichtigsten Ränge in der Hierarchie der Organisation. Der 52jährige Possino tauchte im Sommer des Vorjahres erstmals in Wien auf, wo er standesgemäß eine luxuriöse Wohnung im Radisson SAS Palais (Monatsmiete: 62.500 Schilling) bezog.
Kashoggi-Coup in Wien
Als neuer Aufsichtsratschef des mit eingeschränkter Banklizenz als Börsenmakler tätigen Instituts, das im Herbst dann in General Commerce Bank AG umbenannt wurde, betrat der in Belgien geborene und in Kanada aufgewachsene Raoul Berthaumieu die Bühne: Berthaumieus einschlägige Kontakte zu schillernden Finanzartisten bescherten der Wiener Bank dann im Oktober einen neuen Aktionär: den legendären saudischen Waffenhändler Adnan Kashoggi.
|RecommendKeepReplyMark as Last Read|
|To: rrufff who wrote (289)||9/24/2001 3:21:57 AM|
|Arab Families Linked to Utah, Developer Khashoggi had curious ties to bin Laden clan|
Sunday, September 23, 2001
BY GREG BURTON
THE SALT LAKE TRIBUNE
MURRAY -- A small brick home with an American flag flying from the front porch is the mailing address of Mohamed Khashoggi, multimillionaire son of Saudi arms dealer Adnan Khashoggi, once-dubbed the "richest man in the world."
The obscure Murray address, listed in state voter registration records, is an example of the surprising reach of Middle Eastern politics that links such distant places as Saudi Arabia, New York and Afghanistan with Utah.
Adnan Khashoggi, the playboy venture capitalist and arms dealer who built Utah's Triad Center, is the son of Mohammed Khashoggi, who was the family physician of Muhammad bin Laden, father of Osama bid Laden, the primary suspect in the Sept. 11 terrorist attacks on the World Trade Center and the Pentagon.
The bin Laden family owns the largest construction company in the Middle East. A young Adnan Khashoggi attended college in Alexandria, Egypt, with some bin Laden children. He made his first deal as a middleman delivering American Kenworth trucks to the bin Laden family, earning a $25,000 commission, according to Houston journalist Pete Brewton's book, The Mafia, CIA & George Bush.
The Murray address is one of the last of Adnan Khashoggi's fingerprints in Utah, a final connection to the man and the family Utah leaders embraced as the seeming savior of Salt Lake City's downtown, but, in the end, discovered they never really knew him.
The bin Ladens are a large, far-flung family, as are the Khashoggis, making it impossible to assume that Osama bin Laden shared a militant religious philosophy with Khashoggi -- or even with other members of his own family, says Thomas D. Mullins, executive director of the Contemporary Arab Studies Program at Harvard University.
"What people have to do is make a clear distinction between Osama and the rest of his family," Mullins says. "They are perfectly respectable, decent people. Like any family, every now and then you come across a bad apple in the crate."
While Osama bin Laden was cultivating Islamic militants, Adnan Khashoggi was brokering deals for Iran and Saudi Arabia to buy F-5 fighters, Hawk missiles and C-130 aircraft -- mostly with the blessing and sometimes the financing of the CIA.
With Khashoggi's help, "we have sent arms to the Middle East and billions of dollars in arms to Israel and Egypt," Mullins says. "[The Sept. 11 attacks] are not a comeuppance, they are a result." And now, "in demonizing a particular person, we've made him bigger than he is and made it impossible for us to deal with him."
Even as he broke ground at the Salt Lake City Triad Center in 1985, Khashoggi was secretly mediating arms sales to Iran, sending $25 million to a Swiss bank account controlled by Lt. Col. Oliver North. The weaponry cost much less, allegedly leaving a cut for Khashoggi and plenty more for North to covertly deliver to Contra rebels fighting in Nicaragua.
That same year, Khashoggi wrote a memo to President Ronald Reagan's national security adviser urging the United States to support rightists in Iran, according to an Associated Press report. The Ayatollah Ruhollah Khomeini would die soon, he wrote, and the rightists would help fight the extremists in Iran who give "financial support to the various terrorist groups."
David Tubbs, the FBI's former agent in charge for Utah, was assigned to investigate the CIA's involvement in the Iran-Contra Affair and interviewed Khashoggi in Washington, D.C.
"Everybody knew who he was," Tubbs says. "The interview was pretty straightforward. He had his job to do. He was a middleman; that's what he did for a living. He's probably the primary example of a capitalist."
This was before bankruptcy at Triad and a fraud indictment that snared Khashoggi, Philippine President Ferdinand Marcos and his wife Imelda for concealing the purchase of four Manhattan buildings. Ferdinand Marcos died before trial and a jury eventually acquitted Khashoggi and Imelda Marcos.
In another crossing of public figures then and now, the original charges against Khashoggi were brought by Manhattan U.S. Attorney Rudolph Giuliani, now mayor of New York City.
"It is Rudolph Giuliani who started this whole business," Khashoggi said at the time. "He is dying to be mayor of New York and for this he has to prove how active he is, how tough, a real fighter for justice."
Today, Khashoggi's billions have most likely dwindled to millions or less, Mullins says. Salt Lake's would-be savior stays mostly in Europe and New York. In his mid-60s, he is a mere shadow of the player who vaulted to prominence in the 1970s, flaunting a stable of jet planes, a $70 million, frigate-sized yacht and personal connections to Presidents Reagan and Richard Nixon.
"[Osama] bin Laden is a rock-hard fundamentalist, a complete antithesis of Khashoggi, the millionaire playboy who never had a shortage of drink or women," Mullins says. "Khashoggi would be a target of bin Laden, if anything."
According to Utah records, Khashoggi's son Mohamed has registered to vote in Utah for the past three years using the Murray address, something that apparently surprised the woman who answers the telephone at the home.
"There's nothing here for any of the Khashoggis," said the woman, who refused to give her name. "All I do is pick up the phone calls for them and relay them."
|RecommendKeepReplyMark as Last ReadRead Replies (1)|
|To: rrufff who wrote (289)||9/24/2001 3:35:58 AM|
|Yahoo! Groups : kosovo-alert Messages :Message 195 of 199 |
"OUTSIDE LOOKING IN to Saudi Arabia. The company took off, and not
long after, al
Fayed married Khashoggi's sister Samira, who gave birth to Dodi in
1955. He divorced her after" to prove, but Richard Taus, former FBI
agent, states that Al Fayed and Khashoggi were connected to the
Iran/Contra scandal through Castle Securities. Castle ".
"and defendant Mark D'Onofrio and other defendants ("the D'Onofrio Group") provided Castle and Romano with guaranteed trading profits. "
U.S. Environmental, Inc., et al.: Litigation Release No. 16980 / May 1, 2001
SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16980 / May 1, 2001
SECURITIES & EXCHANGE COMMISSION v. U.S. ENVIRONMENTAL, INC. ET AL., United States District Court for the Southern District of New York, Civil Action No. 94 Civ. 6608 (PLK)
The Securities and Exchange Commission announced today the settlement of claims against four defendants in this action, filed by Complaint on September 13, 1994, and Amended Complaint on October 23, 1995. These four defendants are:
John Romano, age 39, resides in Fort Salonga, New York.
Dudley M. Freeland, age 35, resides in Lakewood, California.
Leslie Roth, age 43, resides in East Meadow, New York.
Ernest Micciche, age 41, resides in Mount Laurel, New Jersey.
The Commission's Amended Complaint alleged a classic fraudulent blind pool offering, subsequent market manipulation and fraudulent sale of the underlying securities of U.S. Environmental, Inc. ("USE"), by broker- dealers who accepted undisclosed kickbacks from promoters in return for retailing the stock to unsuspecting customers. Without admitting or denying the allegations of the Amended Complaint, Romano, Freeland, Roth and Micciche consented to final judgments that imposed permanent injunctions and other equitable relief against them.
The Amended Complaint alleged that:
Romano, as well as other defendants, manipulated the price of shares of common stock of U.S. Environmental, Inc. ("USE"), from $.05 to over $5.00 per share during the period from September through at least December 1989. During that period, defendant Castle Securities Corp. ("Castle") was the principal market maker, and Romano was the principal trader, of USE securities. Castle and Romano executed wash trades and matched orders while trading USE securities, and defendant Mark D'Onofrio and other defendants ("the D'Onofrio Group") provided Castle and Romano with guaranteed trading profits.
Freeland was a Vice President and 25% shareholder of H.K. Freeland and Company, Inc. ("Freeland Co."), which received undisclosed compensation from the D'Onofrio Group for retailing shares of USE to Freeland Co.'s customers. Between January 1990 and September 1990, over 300 Freeland Co. customers purchased more than 200,000 shares of USE stock at prices ranging from approximately $4.25 to $7.25 per share. At no time during this period did Freeland or Freeland Co. disclose the existence of the undisclosed payments to Freeland Co.'s customers.
Roth, as President of USE's predecessor Windfall Capital Corporation ("Windfall"), did not reveal in Windfall's Form S-18 Registration Statement that she was acting under the control of defendants Michael T. Studer ("Studer") and Castle Securities Corporation and that she had received payments from Studer.
Micciche, as USE's Treasurer, caused USE to issue false and misleading statements, through press releases and filings with the Commission, that USE had a world-wide license for a detoxified hazardous waste process that was scientifically proven and commercially viable, and that USE was on the verge of entering two multimillion dollar contracts to use this process.
The final judgments permanently enjoin: 1) Romano, Freeland, Roth and Micciche from committing future violations of Section 17(a) of the Securities Act of 1933 ("Securities Act"), and Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5; 2) Romano, Freeland and Micciche from committing future violations of Rules 101 and 102 of Regulation M; 3) Romano from committing future violations of Section 5(a) and 5(c) of the Securities Act; 4) Freeland from committing future violations of Section 15(c) of the Exchange Act and Rules 10b-3, 10b-5 and 15c1-2 thereunder; and 5) Micciche from causing future violations of Section 13(a) of the Exchange Act, and Rules 12b-20, 13a-1, 13a-11, and 13a-13 thereunder. Further, the final judgments require 1) Romano to disgorge gains and interest totaling $43,776; 2) Roth to disgorge gains and interest totaling $616; and 3) Micciche to disgorge gains and interest totaling $234,269, but waiving payment of such moneys based on Micciche's demonstrated inability to pay. The final judgment against Freeland does not order any disgorgement as Freeland previously disgorged all ill-gotten gains in the related action: SEC v. H. K. Freeland et al., 91 Civ. 7986 (S.D.N.Y.) (CSH). Finally, the final judgment against Micciche bars him from acting as an officer or director, for five years, of any issuer of securities registered pursuant to Section 12 of the Exchange Act or that is required to file reports pursuant to Section 15(d) of the Exchange Act. Romano and Freeland also consented to a Commission order imposing penny stock bars against Romano and Freeland, and barring Freeland from associating with any broker or dealer.
See prior releases ## 14233, 14233A & 14249.
|RecommendKeepReplyMark as Last Read|
|To: rrufff who wrote (289)||9/24/2001 3:43:49 AM|
|****** Love the stuff about Dubya, keep up the good work. Just wondered if you have heard of Pete Brewton's book "The Mafia, CIA, and George Bush" Not much on George Dubya's dealings, but he has had an interesting bidness pardner by the name of Jim Bath: Trustee for two of the richest families in Saudi Arabia, (one was Sheikh Saem bin Laden, one of Osama bin Laden's relatives) one of the families owned a Saudi bank that provided financing to Adnan Khashoggi around the time of arms for hostages and whose highest profile member was indicted in the summer of 92 on fraud charges in the collapse of BCCI. Bath also formed a Cayman Islands company whose other principals were in a Cayman company that was a key intermediary in Ollie North's "Enterprise" in moving donations to the contras. Bath was also recruited by Papa Doc Bush as a CIA asset in 1976. Bath and Bush met while both were in the Air National Guard.|
|RecommendKeepReplyMark as Last Read|
|To: Brasco One who wrote (277)||9/24/2001 11:46:52 AM|
|RE: Madison and Wall and Net Currents funny as sheet |
"By submitting old certificates in exchange for new ones,
any individual or broker who is in a `short' position with respect to NetCurrents' stock, will be obligated to cover their short position in order to deliver new certificates.
Subj: News Release: NetCurrents, Inc.
Date: 9/24/01 10:23:55 AM Eastern Daylight Time
<center>NetCurrents Information Services Recommends Exchange of Common Shares</center>
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Sept. 24, 2001--
NetCurrents Information Services, Inc. (OTCBB:NTCS - news) today recommended
that all of its shareholders physically submit all of their shares of
the Company's Common Stock to its transfer agent, so that shares
bearing the Company's new name and CUSIP number can be issued.
According to Arthur Bernstein, NetCurrents' Executive
Vice-President, ``In order for a stockholder holding a certificate to
trade NetCurrents' stock, the seller must deliver to the buyer shares
bearing the new name and CUSIP number. Old certificates can no longer
be traded. By submitting old certificates in exchange for new ones,
any individual or broker who is in a `short' position with respect to
NetCurrents' stock, will be obligated to cover their short position in
order to deliver new certificates. In the future, we strongly
recommend that all shareholders keep their shares in their individual
accounts and not in street name, to help avoid shorting.''
All shares should be sent to the Company's transfer agent for
exchange: TranferOnline, 227 SW Pine Street, Portland, OR 97204.
About NetCurrents Information Services, Inc.
NetCurrents, uses its patented FIRST technology to analyze
communications for meaning, sentiment, relevance and key concepts from
more than 100,000 targeted public Internet locations and 3,800 online
publications in real-time. The Company provides clients with critical
information for protection of their corporate image, analysis of
competition, product perceptions, and misinformation on the Internet.
Due to the sensitivity of businesses that require this type of
technology and analysis, confidentiality of NetCurrents clients is
This news release contains forward-looking statements within the
meaning of Section 37A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. These forward-looking
statements involve risks and uncertainties. A number of factors could
cause the actual results to differ from those indicated in the
forward-looking statements, including the Company's ability to
continue to successfully market and provide their products and
services and maintain their effectiveness, the continuation of the
arrangements with its channel partners, the ability of the Company to
secure sufficient financing to continue its operations and to meet its
financial projections and general economic conditions. The Company
undertakes no obligation to publicly update or revise forward-looking
statements whether as a result of new information or otherwise.
<hr align=left width="20%" size=1 noshade>
IR Consulting, Beverly Hills
Terri MacInnis, 818/995-0910
Madison & Wall Worldwide, Inc., Longwood, Fla.
Dodi Handy, 407/682-2001
|RecommendKeepReplyMark as Last Read|
|To: Brasco One who wrote (277)||9/24/2001 11:52:11 AM|
|RE:Netcurrents NTCS - NY Times article 09/03/01:|
September 3, 2001
"In 1980, Mr. Meyer and Mr. Friedman were indicted in a federal criminal complaint based on the coal mining partnerships. Both men eventually pleaded guilty to conspiring to assist in the preparation and filing of false income tax returns and were sentenced to prison. Mr. Meyer entered Federal Prison Camp Allenwood in Montgomery, Pa., on March 1, 1982, and was released on July 16, 1982."
Entrepreneur Is Quiet About His Past and Gets New Start in Net Surveillance
By MICHAEL BRICK
Twice, Irwin Meyer has sailed on big ideas to some degree of fortune.
The first time was in 1977, when he found a struggling play based on a comic-strip character and helped turn it into the unlikely Broadway hit, "Annie." It earned him a Tony Award for co-producing the best musical of the year.
The second time was in 1999, when he discovered a technology that could scour Internet chat rooms for rumors, innuendo, opinions or lies about a particular person or company. He created a company to offer the service to any business worried about its image — and its stock price.
To win the trust of investors and clients, Mr. Meyer boasted of his Tony Award, and of the years he spent as a television and commercial producer in Hollywood. What he did not mention was his conviction for tax fraud, which put him in a federal prison for four months in 1982.
Some of the people who wanted to become involved with Mr. Meyer and his Internet technology took the time to check his background, though it did not stop them from working with him. Others said they looked but did not find his conviction. Many, however, were too eager to join the Internet gold rush to do much more than read the incomplete biography that Mr. Meyer submitted to the Securities and Exchange Commission as a routine part of running a publicly traded company.
Mr. Meyer said he did not make a point of mentioning his conviction nor try to hide it. "I don't wear a sign," he said. "Everybody who's ever worked with me knows about my background."
The story of Mr. Meyer's reinvention as an Internet entrepreneur is emblematic of the paradoxes of the technology boom. It may have seemed that a bunch of 24-year- olds were "leveraging" the Internet — to use the vernacular that helped start so many dot-com companies — to take over the business world. But the larger truth is more nuanced and stranger than the notion that Daddy Warbucks invented the New Deal. And now that the boom times are over, Mr. Meyer has a mess on his hands.
At 66 years old, Mr. Meyer comes across like a college drama teacher, theatrical and assured. His approach is: Listen, I'm gonna explain something to you. And he can be very convincing, given the right audience.
When Internet stocks began their run-up, Mr. Meyer was in California and decided to shift his focus from Hollywood to Silicon Valley. In 1999, he used his foundering movie-production company in Los Angeles to create a new-economy start-up and began casting about for something to do.
He first dabbled in satellite Internet access, buying a company called eSat, but switched to Internet image-management after merging with another company, Infolocity. He changed the name of his company — initially the Ventura Motion Picture Group, then the Producers Entertainment Group and most recently the IAT Resources Corporation — to the jazzy-sounding NetCurrents Inc.
The company would use technology developed by Infolocity to monitor Internet chat rooms on behalf of companies willing to pay for the service. At the time, the Internet was so sexy and stock manipulation so worrisome that clients, including big names like Oracle and Office Depot (news/quote), began to line up. Then the Kroll-O'Gara Company (news/quote), the world's most prominent investigation company, signed an exclusive global alliance with NetCurrents to offer enhanced Internet intelligence services to corporations.
NetCurrents' heady early days are but a memory now, and so are many of its clients. It is hard to sell image-protection services to companies that cannot even afford many of their employees anymore. NetCurrents' stock, which traded for as much as $11.94 a share in March 2000, now sells for less than 11 cents. So few people want to buy it that Nasdaq has removed the stock from its market, crippling the company's ability to raise additional cash to cover losses and repay debts. NetCurrents said in its most recent filings with the S.E.C. that it had laid off all its sales representatives and technicians.
Mr. Meyer now spends his days looking for someone to invest more money in the company — and searching the Web for anyone who might be criticizing it, or him.
The company has already sued one man, Victor Holtorf, the former chairman of one of its subsidiaries, for making disparaging remarks about Mr. Meyer on online message boards. They have since settled the suit, though Mr. Holtorf, who still owns stock in the company, said NetCurrents had not met the financial obligations of the settlement. He would not specify the obligations.
Mr. Meyer has overcome financial obstacles before. For example, he and his partner, Stephen R. Friedman, had some difficulty raising their $250,000 contribution to the budget for "Annie," according to a 1977 Washington Post (news/quote) article on the show, though they eventually came up with the money.
At around the same time, the two men shared in sales commissions totaling $4 million, government records say, by selling more than $20 million in tax-sheltered limited partnerships in a coal mining operation. Among the partners who bought in were celebrities like Elvis Presley, Margaux Hemingway and the singer Alice Cooper. Mr. Presley, for example, paid $505,000 and deducted $2.6 million from his taxable income for 1976.
But the S.E.C. filed a civil complaint against Mr. Meyer, Mr. Friedman and others on Sept. 21, 1978, contesting the partners' rights to any coal under a piece of property around Gillette, Wyo. The federal government owned 95 percent of the rights, and that fact cast doubt on the profits and tax benefits that Mr. Meyer and his partners had promised the investors, the S.E.C. said.
In 1980, Mr. Meyer and Mr. Friedman were indicted in a federal criminal complaint based on the coal mining partnerships. Both men eventually pleaded guilty to conspiring to assist in the preparation and filing of false income tax returns and were sentenced to prison. Mr. Meyer entered Federal Prison Camp Allenwood in Montgomery, Pa., on March 1, 1982, and was released on July 16, 1982.
The "Annie" company disassociated itself from the two men, and Mr. Meyer's lawyer, Martin R. Gold, said at the time that his client was "finished in the entertainment business," according to the archives of United Press International.
After regaining his freedom, however, Mr. Meyer moved to California, where he spent 16 years producing commercials and television programs. His company received production fees for the program "Dave's World" and for the movie "What's Love Got to Do With It?"
When Mr. Meyer turned his attention to the Internet, the most important part of his transformation was to buy Infolocity, a company run by James J. Cerna Jr., who is listed as an inventor of the technology used by NetCurrents.
To promote the company's services, Mr. Meyer appeared on the CNBC program "Power Lunch" in March 2000. "We have found in recent months, and I guess growing on a daily basis, an enormous amount of information and misinformation coming across the Net," he said on the program. Three days later, the company said it had closed a private placement of its stock, raising $8.5 million.
Before the summer was out, Mr. Meyer's reinvention as an Internet fraud expert received an impressive stamp of approval when Kroll-O'Gara teamed up its Risk Consulting Services division with NetCurrents — in the process, receiving warrants to buy 5 percent of NetCurrents' stock.
At the time, there was no mention of Mr. Meyer's conviction for fraud, but Jules Kroll, chairman of Kroll-O'Gara, said in a recent interview that his company knew about it.
"We did exhaustive due diligence on the company, technology, directors, management and in particular the somewhat colorful history of its C.E.O.," Mr. Kroll said. "You can imagine, given what we do for a living, it was an issue for us."
He added, "I do believe in redemption, under certain circumstances."
Mr. Meyer said that he told Mr. Kroll about his jail term.
"It would be foolish of me to go into business with the world's largest investigation business that has a division that checks people's backgrounds and assume that they're not going to check my background," Mr. Meyer said.
But others did not learn of the conviction until long after they went into business with him.
Mr. Cerna said that his lawyer had investigated Mr. Meyer's background and never found the conviction. "To get in the position he's in now, he's found a way to hide it," Mr. Cerna said. "You would think, in the spirit, he should disclose that. We had no intention to get involved with anyone that has a history of fraud."
Several customers also said they were unaware of Mr. Meyer's conviction, though they said they were pleased with the service.
"It was immensely valuable to us," said Jennifer Glass, a vice president at Oracle. "We would get a heads-up on rumors and general sentiment about Oracle within the online community."
Ms. Glass and Lauren Garvey, a spokeswoman for Office Depot, said, however, that NetCurrents had discontinued its service to them without explanation.
Mr. Meyer said that he felt obligated to his shareholders. They want him to do what he has always done when he found a new business idea, like the little orphan girl, the tax shelters and the Internet security blanket.
"They're looking for me to secure another round of financing," he said.
|RecommendKeepReplyMark as Last ReadRead Replies (4)|
|To: StockDung who wrote (295)||9/25/2001 8:33:21 AM|
|The next tale will sure be good for some headlines and sour comments:|
Split or no split?
Geni has announced a 3-1 stock split taking place but then said the split has been adjourned due to market conditions. Today, for example, yahoo finance lists the split and the market systems show point & % deviations indicating a split has taken place.
Yahoo altered the prices to reflect the split, and the also ask was 3.50...
GENI 3:59PM 8.79 7.00 3.50 0.00 - 0.00 0.00 0.00% 1.6528 - 8.3333 1,500 465,181
Briefing.com lists for today:
Sep 24 Sep 25 First Horizon Pharma FHRX N 3-2 Aug 27 Add
Sep 25 GenesisIntermedia GENI N 3-1 Sep 05 Add
Nasdaq website also says: No split today:
16:59 GENI GenesisIntermedia Inc Refer to Daily List of 9/6, stock dividend has been postponed by company.
But positions at do not reflect the split?
For the confusion see ISLDs books prints:
1. 8:41:25.89: 400 at 7.5000
2. 8:40:15.77: 500 at 7.5000
3. 8:27:40.61: 500 at 8.0000
4. 8:27:27.38: 500 at 8.0000
5. 8:26:33.70: 500 at 6.8900
6. 8:17:35.74: 500 at 5.0100
7. 8:15:19.10: 500 at 5.0000
8. 8:05:52.81: 500 at 3.9000
|RecommendKeepReplyMark as Last ReadRead Replies (1)|
|To: StockDung who wrote (295)||9/25/2001 4:23:52 PM|
|what does the nyt article have to do with GENI ?|
also whats the bin laden link to GENI? if it bin laden's father,
forget it. osama has been disowned by his family and is an outcast.
is there another connection?
|RecommendKeepReplyMark as Last Read|