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From: StockDung4/30/2007 11:32:04 AM
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Ramy El-Batrawi
Cell: (310) 497-6957


Ramy El-Batrawi has structured many substantial business transactions, both nationally and internationally, over the past 20 years. He has worked, and negotiated transactions, with many significant high-net-worth individuals and private equity funds, including such prominent names as Adnan Khashoggi, Carl Ichan, Marvin Davis, and The Yucaipa Companies.

GSI is a consulting firm established to leverage Mr. El-Batrawi’s expertise in mergers and acquisition of closely held and public companies. His experience in developing bidding strategies, deal structuring, offer structuring, acquiring and growing companies and executing the transaction has led to win-win transactions for all parties. Through his ongoing relationships with high net worth individuals, investment banks, and private equity firms, Mr. El-Batrawi can close transactions on an expedited basis. His ability to quickly gain a comprehensive understanding of a business and an industry, the markets served, and its competitive position within the industry, and to build solid relationships with management has enabled him to formulate and execute the best financial and structural solutions to each and every deal.

In February 2004 Mr. El-Batrawi negotiated with the Ron Berkle’s Yucaipa Companies, a Los Angeles-based private equity firm, on behalf of Piccadilly Restaurant investment Group, LLC to acquire the assets and ongoing operations of Piccadilly Cafeterias, Inc. pursuant to Section 363 of the Bankruptcy Code. Piccadilly Cafeterias is one of the largest cafeteria restaurant chains in the United States and is the dominant one in the Southeastern and Mid-Atlantic regions. Founded in 1944, Piccadilly currently operates 132 cafeterias in 15 states. The Company expects to generate $260 million in net sales in the first twelve months following acquisition.

In July of 2003 Mr. El-Batrawi negotiated and structured the financing for Telecom Pacific Investment, LLC to specifically invest in the telecommunications industry. At the time of the successful close-out of Telecom Pacific Investment, LLC in February 2004, just seven months after its formation, the value of the company had increased 53.6% over the amount of the original investments. Annualized, the return was approximately 90% on the total amount invested.

In 2002 Mr. El-Batrawi successfully structured approximately $18 billion in equity and debt financing in connection with a bid for Vivendi Universal. Mr. El-Batrawi successfully put together a consortium of high net worth individuals and private equity firms, which consisted of Marvin Davis, Texas Pacific Group, Apax, Allen & Co, Carlyle Group, Bain Capital, Blackstone, and others for a total equity of $10Billion. He also arranged debt financing of $8Billion from JP Morgan, Fleet Bank, and Deutsche Bank. At the end, GE won the bid to acquire Universal.

In December of 1998 he acquired Global Leisure Travel, Inc., which was a pioneer in consolidation in the travel industry. GLT’s annual gross sales in 1998 were approximately $220 million. GLT was the parent company of several travel-related companies including Maupintour, a 48-year old escorted tour operator based in Lawrence, Kansas; Sunmakers, a quality “sun” destination independent travel package provider based in Seattle; Jetset Tours, a nationally renowned discount air consolidator; and Regency Pacific, a specialist to Asian destinations. Other companies under the GLT umbrella included Kailani World Travel, Hawaii Leisure and Cruise Alaska Tours. In 2000 Mr. El-Batrawi sold the company in part to Carl Ichan and in part to Travel Buy

In October 1993 since its inception to October 2001 Mr. El-Batrawi was the principal stockholder and chief executive officer of GenesisIntermedia Inc. He also served as director and chairman of the board. GenesisIntermedia had its initial public offering in June of 1999 and the total market cap reached as high as $450M.

From 1987 to 1994 Mr. El-Batrawi worked with Adnan Khashoggi internationally where he facilitated and negotiated significant transactions between global industrial companies and world governments. Firms with which he was involved during this period include Lockheed Corporation, Carnival Cruise Lines Inc., Lonrho, Inc., McDonalds Corporation and Eastern Airlines. Mr. El-Batrawi structured and otherwise worked on many large transactions, including a $12Billion pipe line deal in the Sudan which he negotiated and for Eastern Airlines, arranging financing for and ultimately selling to Aeroflot Eastern’s entire fleet of L1011s.

Additionally, during this period he was the sole shareholder, President and Chairman of the Board of Directors of several companies, including Mars and Venus Counseling Centers, Inc., Genesis Aviation, Inc., Genesis Aviation II, Inc., Genesis Diversified Investments, Inc., and Sentient, Inc.

From 1984 to 1987 Mr. El-Batrawi owned and operated Nationwide Van Centers, a chain of recreational vehicle dealerships.

From 1977 to 1987 Mr. El-Batrawi started many other small companies.


In 2000 Ramy El-Batrawi was honored through his selection to participate on the entrepreneurial panel in GB2000, The Graduate Business Conference hosted by UCLA’s Anderson School of Management. The Graduate Business Conference was conceived in the fall of 1982 at Columbia Business School, and has been an annual event for MBA students since the spring of 1983. The Conference has been hosted at Columbia University, Duke University, the Wharton School and UC-Berkeley, among others.

Send mail to with questions or comments about this web site.
Copyright © 2005 Growth Strategy Investments, LLC
Last modified: 09/04/05

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To: PaleskeDrAv who wrote (526)4/30/2007 11:33:19 AM
From: StockDung
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To: StockDung who wrote (529)6/27/2007 4:25:04 PM
From: PaleskeDrAv
   of 574
Hypo-Alpe-Adria – A Bank-Scandal in Austria
Dr. Alexander von Paleske - A Scandal is presently rocking Austria, involving Austria’s fourth largest Bank, the Hypo-Alpe-Adria, which was recently bought by the German bank “Bayerische Landesbank”, owned by the German state of Bavaria. The majority shareholder was up to then the Austrian county of Carinthia/Kaernten, whose governor is Joerg Haider, ultra right winger and well known for his praise of Adolf Hitler’s labour market policies and his derogatory remarks about foreigners as well as asylum seekers.

When in 2000 his Party, the FPOe or so called Liberal Party of Austria formed a coalition government with the OeVP, Israel recalled it’s ambassador from Vienna and the European Union reduced it’s contacts to Austria to a minimum. So what are the scandals, rocking this bank now?

Let’s start in the US in the year 1993.
A man by the name Robert Mc Farlane, security adviser to former US President Ronald Reagan at the time of the Iran-Contra scandal and now adviser to the mercenary company AEGIS, headed by Tim Spicer, on a Pentagon contract in Iraq, was with others founding a bank by the name of Czech Industries. The company was in 1996 merged with a company Eastbrokers International, in which a certain Wolfgang Koessner from Vienna became a shareholder,

Koessner brought with him a Bank in Austria by the name of WMP AG, which was now merged with Eastbrokers to be named Global Capital Partners. However disagreement led Koessner to disengage from Global Capital Partners and after the Global Capital Partners issued more shares, Koessner lost control of the WMP Bank and became a minor shareholder. Noteworthy is the fact, that Czech industries was majority owned by Stratton Oakmont, a broker house that was closed by the Securities and exchange commission because of fraud.

Minority shareholder at the WMP-Bank, that was now re-named“General Commerce Bank” was as well the Hypo-Alpe-Adria Bank. Koessner did a lot of work to establish the relationship with this bank, before he lost control at the WMP. As a result, Hypo-Alpe-Adria Bank sold shares and bonds of Global Capital partners to it’s customers, worthless shares as it would turn out and many of the customers now suing the bank.

A crack crew arrives
Koessner, no longer in control, had to witness, that a crack crew appeared in 2000 at the WMP Bank for a “turnaround”, however not for better, but for worse. The crack crew comprised:

1. Regis Possino, former US lawyer
-arrested after he tried to sell in 1978 Cocaine to undercover agents
-tried also to land a deal over the monthly sale of Cocaine at a street value of 680.000 US Dollars
-tried to sell stolen bonds to the public
-arrested during his trail because he tried to influence one member of the jury
-disbarred as a lawyer in 1984 because of his criminal record
-In 1996 again sentenced for stock fraud

2. Amador Pastrana, Filipino king of the “boiler rooms”. He allegedly commandeered at least t 100 boiler rooms. Offices, where fraudulent telemarketing of worthless shares is organised from.

3. Sherman Mazur, US citizen, convicted in 1993 in Arkansas for severe cheque fraud and sentenced to five years imprisonment. Allegedly authorised, while in prison, Amador Pastrana to continue with his fraudulent activities.

4.Raoul Berthaumieu,Canadian of Belgian origin, alias Raoul Berthamieu, alias Lee Sanders, convicted for cheque fraud in the US in 1991, met in prison Sherman Mazur, who allegedly taught him there a thing or two.

5. Adnan Khashoggi, international arms dealer and fraudster, involved in the Iran-Contra Scandal.

6. Rakesh Saxena, Indian, international megafraudster, , allegedly committed fraud at the Bangkok Bank of Commerce in the 90s together with the then CEO Krirkiat Jalichandra to the tune of 2,2, billion US Dollars and thus triggering the Asian Banking Crisis in 1997. Fled with allegedly 88 million US Dollars “pocket money” to Canada and continuing his fraudulent activities there from self paid house arrest. Extradition procedures (Thailand wants him) are lasting now already 11 years.

This crack crew, Saxena under house arrest via the phone, allegedly turned the WMP/General Commerce Bank in 2000 into a boiler room. The fraud allegedly amounted to 1 billion US Dollars. 1 billion in 1 year.

Dr. Kulterer, CEO of Hypo Adria until 2006, trusted Berthaumieu, the convicted fraudster, according to information he received from the police(The local police station?) an honest man ! The Hypo Alpe Adria Bank gave Berthaumieu several loans and tasked him to sort out “problems” at the General Commerce Bank. In late 2000 Berthamieu introduced Adnan Khashoggi to Dr. Kulterer and his team. A couple of months later, reacting to pressure from the FBI and SEC the General Commerce Bank was closed by the Austrian authorities. One would expect, that the day for departure or better sacking of Dr. Kulterer had arrived by now, however the clocks in Haider’s Kaernten/Carinthia are ticking in a different way.

A friend, a good friend
Kaernten/Carinthia was, as already mentioned, the biggest shareholder of Hypo-Alpe-Adria bank. And the Governor (Landeshauptmann) of Kaernten/Carinthia is Joerg Haider. Haider praised Dr. Kulterer as “Visionary” and “Austrias’s best bank manager ” Kulterer in return gave a loan to Haider’s then party, the FPOe, for expected election expenses until the year of 2013. Obviously the voters in Kaernten are “ownership” of his party and serving as a collateral. And Kulterer accompanied Haider on his trip to Libya in 2000 , and met with Gaddafi, when Libya and Gaddafi were still part of the “axis of evil”.

Ed Fagan comes on stage
In 2003, however, Ed Fagan, US Star-lawyer entered the stage and took Kulterer and his Bank to court. He accused them of Insider trading, fraud and falsifying balance sheets. Kulterer in return lodged a complaint with the state prosecutor in Austria, accusing Ed Fagan of blackmailing.

14 days in 2004
In 2004 Dr. Kulterer could prove, what a visionary he was. His bank started trading in Swaps and within 14 days lost 328 million Euro. His bank managers then tried to hide the loss in the balance sheet by stretching it over several years, a criminal act which came under the spotlight now in a parliamentary subcommittee of the Austrian parliament. And he allegedly informed the supervisory board only six months later.

And when the bank ran short of the legally required capital, the bank allegedly issued shares and sold them to customers, giving them at the same time loans in order to buy them , the loan supplied from a subsidiary of the bank in Liechtenstein, re-routing then the money via Virgin Islands back to Austria. A carousel as a money spinner.

Dr. Kulterer had to vacate his position as CEO however was immediately installed as head of the supervisory board, the visionary became the controller. Haider wanted to park him there for a while, and then put him back as CEO. And Kulterer was, in view of his performance at the Hypo-Alpe offered and he accepted the job of the head of the Flick Foundation and the manager of the Flick money.

As a remainder: Friedrich Flick was a convicted war criminal in the Nuremberg trials and became later on a billionaire and one of the richest, if not the richest man in post war Germany.
His son, Friedrich Karl Flick, regarded the inheritance tax, which his heirs once would have to pay as too high in Germany and emigrated lock stock barrel before his death to Austria.

A former Croatian General
In April this year, the former Croatian General Vladimir Zagorek was arrested in Vienna on request of the Croatian government. He is accused of embezzlement of state money and money laundering. He was a prominent customer of the Hypo Alpe-Alpe Adria Bank, which is now also under investigation for alleged money laundering. And last week the weekly DIE ZEIT reported yet another scandal involving the bank, this time in Istria/Croatia, where large tracks of pristine state land were bought at low prices and then sold with a 200 fold price increase, after the land was subdivided into plots in collusion with the local authorities, many of them now behind bars.

A Bank on sale
The Hypo-Alpe Adria Bank was supposed to be floated on the stock market this year, however this became impossible in view of the scandals. So Dr. Kulterer was actively looking for a buyer and found the Bavarian“Landesbank” (county bank) 100% owned by the state of Bavaria/Germany as being very interested.

So Haider flew on of May 2007 to Munich to seal the deal. He was not only met by the CEO of Bayerische Landesbank, Werner Schmidt, but also by the Bavarian Finance minister Kurt Faltlhauser and Home Affairs Minister and future Prime minister of Bavaria, Guenther Beckstein. They did, what the European Union refused to do, to negotiate with and thus uplifting the reputation of Haider. And they were not only meeting him, but also exploring ways to strengthen the ties between Bavaria and Kaernten.

Insider Trading?
The sale of the Bank went ahead not without another suspected scandal: Insider Trading. An investment Company headed by Tilo Berlin, the Berlin AG, , where the Flicks had also invested their money, bought in January, when the negotiations started with Bayerische Landesbank, 4% of the shares, and another 10%, when the negotiations were coming to a close. These shares were now sold to Bayerische Landesbank with 50% gain, 148 million Euro profit, and cash to carry in less than 6 months. If this is not Insider trading, what is it? However there are more scandals connected with this bank.

A Jewish family and a plot in Belgrade
On 22.April 2005 the Hypo Alpe announced, that they had acquired for 20 million Euro from the state prime land in Belgrade’s city centre. What the Hypo Alpe regional representative did not tell was, that this plot has a history. It was called “Three Tobacco Leaves” and was owned for generations by the Jewish family Galich. Two of the family member were killed in 1944 by the SS when they tried to defend the building against German troops, on the retreat, who wanted to blow up the building, which they eventually did. Immediately after the Germans had left, the Galich family rebuilt the Three Tobacco Leaves Building, however were later expropriated by the Tito government of Jugoslavia.

The Galich family emigrated to the US.
The building was eventually torn down by the Milosevic Government of Serbia. Potential buyers were advised by the Galich family, that they intend to reclaim the plot from the state, and thus no buyers came forward until eventually the Hypo-Alpe-Adria Bank entered the stage.

Totally disregarding the interests of the Galich family and the history of the plot and it’s former buildings on it,, they grabbed the plot. However protests against this ridiculous grabbing mounted and in May 2005 several hundred people, some of them Holocaus survivors, demonstrated in front of the Hypo-Alpe dependance in Belgrade. The local newspapers, reporting about the scandal, asked, whether the Hypo Alpe had learned nothing from the scandal around the Croatian ski-athlete Ivica Kostelic in 2003.

A Ski athlete named Kostelic
Kostelic was sponsored by the Hypo-Alpe Adria Bank, better named Scandalpe or Skandalpe. He became not only famous for his skiing performance, but also for his remarks about Nazi-Germany similar to Joerg Haider, Governor of the Austrian county of Kaernten which owned half of the shares of the Hypo Alpe bank. Haider, similar to Kostelic also became famous for his praise of Nazi Germany’s labour policy, recommending it as a good example to Austria’s government. A few statements of Kostelic in 2003:

The Nazi-System was a healthy system for an ambitious person

Before a start to one slalom, he felt well prepared like a German soldier on the 22nd June 1941 (the day, Hitler attacked the Soviet Union)

The Nazi Regime equals to 2000 years of Roman history, compressed into 12 years

The Communists were worse than the Nazis, because under Nazi rule one could pursue a career.

He was excited when watching in a movie the attack of the Nazi airforce on Britain, the so called Battle of Britain.

As a remainder: England was at that time alone in it’s fight against Adolf Hitler’s army. In a heroic performance the British pilots pushed back Hitler’s air force. Their performance was acknowledged in Churchill’s historic speech in the commons “never before in history owed so many so much to so few”. One would have expected, that the Hypo-Alpe-Adria bank would have immediately cancelled the sponsorship. That did not happen, they were satisfied with a lukewarm apology from Kostelic.

What happened to the alleged WMP criminals?
Regis Possino is still in business. Last year he was with his company “Geneva Equities” on a “roadshow” in Asia and collected 28 million US Dollars money from investors. Geneva equities was also involved in a fake company by the name of “L-Air” supposedly to be an airline, however it’s planes never made it to the runway, only the money of the investors flew away-forever.

Sherman Mazur is busy in the US. He created a company with his children by the name of “Accu-Poll-Holdings”, and selling the shares via boiler-rooms, the usual story.

Adnan Khashoggi is allegedly in the United Arab Emirates and enjoying his retirement. Last year Deutsche Bank, Germany’s biggest bank, paid 350 million US Dollars in compensation for share fraud, in which both, Deutsche Bank and Khashoggi were involved, the Genesis Intermedia scandal.

Rakesh Saxena was last year put into prison, pending extradition to Thailand. In December he was freed as the extradition request from Thailand expired after 10 years. Good to be a rich economic refugee in Canada! He is now again in self paid house arrest and most likely doing, what he always did.

Raoul Berthaumieu did not get a good reputation either. If you put the name of his company, Pacific Federal SA into a search engine, plenty of warnings, not to do business with this company, are appearing.

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To: PaleskeDrAv who wrote (530)6/28/2007 12:25:24 PM
From: RockyBalboa
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To: PaleskeDrAv who wrote (530)7/16/2007 2:32:14 PM
From: StockDung
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Bank robbery suspect turns to stock scam?

By David Baines
The Vancouver Sun

For the past several months, former U.S. Army Ranger Luke Sommer, who is wanted in Washington for an armed bank robbery in Tacoma last year, has apparently collaborated with another international fugitive to promote essentially worthless penny-stock deals while under house arrest in British Columbia.

In information Sommer left behind when he fled house arrest last month, he says he helped Rakesh Saxena, wanted in Thailand in a bank fraud, with stock deals quoted on the OTC Bulletin Board in the United States.

The OTC Bulletin Board is a sort of minor-league stock market. Most stocks quoted on the Bulletin Board are small and thinly traded, making it easy for unscrupulous promoters to manipulate them.

Sommer, 21, worked from his mother's home in Peachland, B.C., where he was under house arrest pending extradition to the United States. He was scheduled for an extradition hearing Tuesday.

Saxena worked from his home in Richmond, B.C., where he is under 24-hour guard pending extradition to Thailand.

Sommer's relationship with Saxena came to an abrupt halt June 27 when Sommer suddenly went missing. The Royal Canadian Mounted Police (RCMP) have issued a warrant for his arrest, and the FBI is on the lookout in case Sommer decides to return to the U.S.

Before he fled, Sommer left a goodbye letter for the RCMP and a compact disc containing copies of dozens of e-mails he said were between him and Saxena concerning their penny-stock dealings.

In the RCMP tape, a copy of which was obtained by The Vancouver Sun, Sommer said he had also been dealing with an Indo-Canadian gang, which he claims plans to smuggle heroin into Canada from India.

Sommer also claimed he has been working as a police informant.

"I am in contact with a member of the RCMP on a regular basis as of this writing. Please inform him that as I hear of things that require his attention, I will find a way to contact him without putting me or innocent people in jeopardy."

In an apparent reference to his RCMP helpers, he writes: "To the ghost team: you guys were awesome to work with and I never broke my promise to you to keep your names out of the light. ... "

Commando bank raid

On Aug. 7, 2006, Sommer and several others stormed a Bank of America branch in Tacoma brandishing AK-47s and wearing commando-type clothing and body armor.

According to court documents, the robbery was carried out with "military-style precision." It took only two minutes and 21 seconds. No shots were fired and no one was hurt.

The group made off with $54,011.

Afterward, Sommer took an overnight bus to Canada and returned to Peachland, where his mother, Christel Davidsen, lives.

Despite the heavy weaponry, Sommer has been quoted saying he never intended to hurt anybody.

He told The Seattle Times in December that his motive was to gain notoriety that he could use to expose war crimes by U.S. troops in Iraq and Afghanistan. The Army says it has found no evidence to support his claims.

The U.S. government alleges that his motive was to raise funds to start a crime family to rival the Hells Angels for control of the drug trade in Kelowna, B.C.

To date, seven people have been charged in connection with the robbery, including five former Rangers based at Fort Lewis and two of Sommer's Canadian friends. All seven have pleaded guilty to some of the charges against them.

On Aug. 11, RCMP arrested Sommer at a grocery store in Westbank, B.C., and he was jailed pending extradition to the United States.

Bangkok embezzlement

Shortly after his arrest, Sommer was transferred to the North Fraser (B.C.) Pre-trial Centre pending the outcome of his extradition hearing. There he met Saxena.

Saxena, 55, is a native of India. In the early 1990s, he worked as treasury adviser to the Bangkok Bank of Commerce where he allegedly embezzled $88 million, then moved to British Columbia.

In 1996, he was arrested by the RCMP at the Chateau Whistler while lunching with Thai police officers. He was carrying a briefcase stuffed with $100,000 cash, which, he readily admitted, he intended to use to bribe the officers.

He was initially released on bail, but in January 1998, the RCMP re-arrested him after he allegedly obtained a phony passport and threatened a witness.

In June 1998, his lawyer persuaded then-judge Wally Oppal (now B.C.'s attorney general) to approve a novel form of house arrest: Saxena would stay at his luxury condo and pay for his own 24-hour security to ensure he didn't leave.

This left Saxena free to pursue his business dealings. In one instance, he began negotiating with a South African-based mercenary force to stage a counter-coup in Sierra Leone when a rebellion interfered with business ventures there. The plans were put on hold when word leaked out.

Saxena told reporters there was nothing in the terms of his bail that prevented him from engaging in counter-coups in Third World countries.

He also became involved in packaging and promoting companies that trade on the OTC Bulletin Board. From 2001 to 2003, according to court documents, he arranged for overseas boiler-room operators to sell shares of essentially worthless companies to investors, most located in the United Kingdom. Investors were told to send their money "in trust" to Martin & Associates, a Vancouver law firm.

According to a forensic report filed in B.C. Supreme Court, investors sent $18.4 million to the firm, most of which was distributed to third parties on Saxena's instructions. In many cases, investors did not get their shares. In others, investors received their shares only to discover they were not listed on any exchange or had virtually no value.

The two principals of the law firm were each suspended for 10 years by B.C. Law Society. Saxena was never charged by police or cited by any regulatory body.

By last August, Saxena had exhausted all his extradition appeals and his return to Thailand appeared imminent. Because he was now a flight risk, he was placed in custody at the North Fraser Pre-trial centre, where Sommer was being held.

Calls to reporter

In an interview Friday, Saxena said he referred Sommer to Vancouver lawyer Sean Hern, who helped Sommer get released on bail in September. The terms required him to stay on his mother's property in Peachland. While he was still in jail, Sommer began calling a freelance reporter in Peachland, Dave Preston.

When Sommer was released on bail, they began meeting in person.

When he fled custody, Sommer left Preston a copy of his goodbye letter and a copy of the CD containing his e-mail exchanges with Saxena. Preston gave The Sun access to those documents.

"Shell" companies

The e-mails relate mainly to Saxena's efforts to package and sell "shell" companies, which have no real assets, but most of the shares are controlled by insiders, which makes them good vehicles for stock promotions.

In one, a promoter tells Saxena he has a buyer for a shell. Saxena advises him that "outright fully compliant shells 95 per cent are in the $850,000 U.S. area. Two available for cash." ("Fully compliant" means the shells have met U.S. Securities and Exchange filing requirements, and "95 per cent" means that 95 percent of the stock is under the control of the insider group.)

In another e-mail, Saxena says, "Please coordinate with Kevan -- he is pulling off some big stuff, so you better start playing with the big boys and forget about your gangster buddies in North Vancouver."

"Kevan" is Kevan Garner, who, along with Vancouver lawyer Martin Chambers, was caught in a joint FBI-RCMP money-laundering sting in Florida in August 2002.

Garner has since finished his jail sentence and returned to Vancouver.

"I have done due diligence," Saxena told The Sun, referring to Garner. "I see no reason why he can't promote. Same with Elliott Sommer. His house arrest conditions don't stop him from doing anything at home." (Luke Sommer goes by Elliott, his middle name.)

E-mail marketing plan

Many of the e-mails relate to a company called American United Gold, a Bulletin Board company that Saxena is proposing to revive by dealing in new mineral assets. There is also reference to an e-mail marketing campaign that will send promotional messages to 20 million e-mail addresses.

Regulators in the U.S. and Canada are trying to stamp out such "spam" campaigns.

Saxena sent copies of all this correspondence to Sommer, as well as a list of European clients who bought stock from the boiler-room operators and sent their checks to Martin & Associates "in trust."

Although Saxena initially said Sommer helped with computer programming only, the e-mails show that Sommer was also involved in sourcing assets for the shell companies. There is also correspondence relating to the opening of an account in Panama in the name of Sommer's mother.

Saxena proposed to pay him for his work by depositing share certificates in this account, but according to Preston, neither Sommer nor his mother got any shares.

Informant claim

Preston said Sommer told him he was working as an RCMP informant, and that police had bought him a BlackBerry and a camera. He said Sommer also showed him e-mail exchanges with his main RCMP handler, who used the name "Lone Wolf."

Preston said he is not surprised that Sommer fled house arrest: "He was convinced that the assistant U.S. attorney in Washington would try to put him in jail for 30 years."

Asked whether he has any idea where Sommer is, he said: "None. I've thought about it a lot. It wouldn't surprise me if he is sitting on a beach in Miami, but he could just as well be in the lower mainland."

In his letter to police, Sommer insists he is no risk: "If you're wondering whether I am a danger to the public or not, rest assured, I have no intention of doing anything that will put people at risk, and if you find me, I will go quietly."

Information from The Seattle Times archives and from Seattle Times business reporter Drew DeSilver was used in this report.

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To: PaleskeDrAv who wrote (530)10/10/2007 11:07:45 AM
From: StockDung
   of 574
Krirkkiat gets another 20-year jail term

( - The Criminal Court on Wednesday handed down another 20-year jail sentence to Bangkok Bank of Commerce (BBC) former president Krirkkiat Jalichandra for embezzlement.

He is also fined for 16 million baht for colluding with two other bank executives in approving fund worth of more than 2 billion baht to Saudi arms dealer Adnan Khashoggi without asking for the board's consideration, which broke the rule of the central bank.

Ekachai Athikomnantha, another former senior executive of BBC, and Wanchai Thammanitiwat, the bank's former chief of the financial management division were the other two who were found guilty of embezzlement on the case and received the 20-year jail sentence.

The two were also ordered to pay fine of 16 million baht each.

Moreover, they were ordered to pay BBC for the amount of money they approved for Khashoggi, which was slightly more than 2 billion baht

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To: PaleskeDrAv who wrote (530)12/11/2007 11:28:31 AM
From: StockDung
   of 574
Adnan Khashoggi saves Citi Group:

"Through Representative Dodo Mandanas, Arroyo said controversial Saudi
billionaire Adnan Khashoggi and the Abu Dhabi Investment Corp. committed to
entering into $500-million worth of build-operate-transfer (BOT) projects for
economic zones in the Port of Batangas and Lipa Airport."

"Yesterday, Wednesday, Nov. 28, The Abu Dhabi Investment Corp. firmed plans to spend $7.5 billion and become the largest single share holder in Citigroup."

(UPDATE) OFWs did not support hotel siege--Arroyo
By Jerome Aning
Last updated 11:32am (Mla time) 12/11/2007

_Most Read_ (javascript:toggleLayer('mostreadlist');)

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* _(UPDATE) OFWs did not support hotel siege--Arroyo_
* _Arroyo hopes life term brings 'small comfort' to Ranario kin_
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* _UAE seeks standardized contracts for foreign workers’_

* _New cop, dead hero_
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* _Arroyo extends stay in Kuwait on Emir invitation_

* _Arroyo says strong peso not bad for OFW families_
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( * _Pirates demand huge ransom or kill Japanese tanker crew--UN_

* _Certainly more deceptive_
_Global Nation Most Read RSS_
_Close this_ (javascript:toggleLayer('mostreadlist');)

MANILA, Philippines -- The shortlived takeover of the Manila Peninsula Hotel
in Makati City last month by a “desperate” and “misguided” group had no
support from Filipinos abroad, President Gloria Macapagal-Arroyo said Tuesday
after arriving from a weeklong trip to three countries.
“About the adventurism of some people, it is clear even among our foreign
friends that the actions of these few desperate men reveal just how out of touch

they are with the hopes and dreams of the average Filipino, even the
Filipinos abroad,” Arroyo said in her arrival statement.
“Filipinos both here and abroad want political stability, a bright economic
future and social justice. The actions of these misguided men undermine each
and every one of the genuine aspirations of real Filipinos. Instead of working
to bring the nation together within our democratic process, their actions
merely are fuel for selfish motives for personal gain,” she said.
She stressed that “the transgressor will not hold our nation hostage with
impunity,” that they will be “punished with the full force of the law,” an
that “justice will be served and the interests of the people upheld.”
Arroyo arrived at the Ninoy Aquino International Airport Terminal 2 around
1:15 a.m. after visiting Spain, the United Kingdom, and Kuwait. She was
welcomed by a crowd of about 200 people, mostly airport employees and
officials led by Executive Secretary Eduardo Ermita and Press Secretary Ignacio

She was greeted by applause when she recounted her trip to Kuwait, where
Sheikh Sabah al-Ahmad al-Sabah granted her appeal to commute the death sentence

of domestic helper Marilou Ranario, who has been convicted of murdering her
“I'm thankful for the compassion and understanding of the Emir, who, because
of our request -- and this [is] the first time this happened in the history
of the emirate -- promised not to proceed with the execution of Marilou
Ranario,” Arroyo said.
Arroyo said the Emir assured her that at the “right time” he would look into

the possibility of reducing Ranario's prison term.
Arroyo also relayed the results of her meetings with King Juan Carlos and
Queen Sofia of Spain, Spanish premier Jose Luis Zapatero, and Queen Elizabeth of

the United Kingdom. She said she was able to refresh the Philippines'
security, economic and diplomatic ties with what she regarded as “our
She said she recounted to the Spanish leaders her plan to return the teaching
of the Spanish language in the Philippines, saying these will improve
Filipino workers' competitiveness in a world that has seen the continuing rise
the use of the Spanish tongue.
In the UK, the President recounted her meeting with former Prime Minister
Tony Blair, who was involved in the Northern Ireland peace process and was now
helping in the Israeli-Palestinian peace talks.
“[We] exchanged views on world events and on the possibility that we might
learn something from him that we can apply in our peace process in Mindanao,”

she said.
In her visits to Spain, UK and Kuwait, Arroyo said she encountered Filipino
workers that have contributed to the economy of their host countries. She said
she thanked the Spanish and British monarchs for the good treatment given to
The President also said she and the other members of her delegation were able
to convince many businessmen to invest in the Philippines, thus create more
jobs and livelihood opportunities, particularly in the provinces.
Through Albay Governor Joey Salceda, Arroyo said the Banco Bilbao Vizcaya
Argentaria approved a possible 800 million euros in investment and suppliers'
credit for the Philippines, covering projects on renewable energy, modern ports
and other infrastructure.
Through Representative Dodo Mandanas, Arroyo said controversial Saudi
billionaire Adnan Khashoggi and the Abu Dhabi Investment Corp. committed to
entering into $500-million worth of build-operate-transfer (BOT) projects for
economic zones in the Port of Batangas and Lipa Airport.
Indra, a Spanish firm, would be expanding their information technology
operations in the Philippines and join biddings for the improvement of the
country's air traffic control system, while Bionor Transformacion signed an
agreement with the Philippine Agricultural Development and Commercial Corp. to
develop at least 100,00-hectares of Jatropha plantations in Palawan.
In London, Arroyo said the Mittal group reiterated its plan to put up a
$1.6-billion integrated steel mill in Iligan City while the Anglo American
conglomerate, relayed its continuing efforts to investing in the Philippine
As of posting time, Arroyo is presiding over a meeting of the
Legislative-Executive Development Council on proposed key legislations.
At noon, the President will preside over a meeting of the National
Anti-Poverty Commission, and at 2 p.m. she will attend a “stakeholders’
meeting” with
representatives of the education sector.
She is also scheduled to meet with Ranario’s family.
At 7 p.m., the President will attend the 100th anniversary of the Philippine
Columbian Association in Manila.With a report from Lira Dalangin-Fernandez,; Originally posted at 2:26am

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From: StockDung12/11/2007 11:37:05 AM
   of 574
29. $1.1 BILLION Adnan Kashoggi Saudi Arabia

The international arms dealer has swapped his business life for the celebirty jet set circuit in recent years.

The World's 50 Richest Arabs
1. $20.15 BILLION
Prince Alwaleed bin Talal Al Saud
Saudi Arabia

The Saudi Prince runs a business empire thar now streches across four continents. It has now also made him the world's fourth richest man.

2. $9,2 BILLION
Nasser Al Kharafi

The tycoon has made his fortune from range of industries, and now adding to it by helping rebuild Iraq.

3. $6.8 BILLION
The Olayan Family
Saudi Arabia

The Olyan Group started life over fifty years ago as small trucking group. Today it is a world class diversified industrials company.

4. $6.7 BILLION
The Bin Laden Family
Saudi Arabia

The Bin Laden Family run one of the world's most successful consturction companies.

5. $5.2 BILLION
Rafik Al-Hariri

The Prime Minister of Lebano is also one of the world's riches Arabs, thanks to the massive constuction group he owns.

6. $4.5 BILLION
Mahdi al-Tajir

Al-Tajir has benn rich for three decades. Nobody has made more money out of Dubai's status as a free trade port.

7. $4.1 BILLION
Abdul AZIZ Al Qhurair family

The tycoon owns the oldest bank in the UAE, and even his grandparents have a habit of making good money.

8. $3.8 BILLION
The Kanoo Family

The family is not shy to declare the scale of its wealth. It has produced a book on it.

9. $3.5 BILLION
Majid Al Futtaim

The Al-Futtaim Group split ar board level four yeares ago, with the founding brothers takeing separate divisions.

10. $3.4 BILLION
Abdulla Al Futtaim

The exclusive UAE dealership for several carmakers has helped turn Abdulla into a Dubai billionire. And he's getting even richer.

11. $3.35 BILLION
Saleh Al Rajhi
Saudi Arabia

The Al Rajhi family own one of the Gulf's biggest investment banks.

12. $3.3 BILLION
Khalid bin Mafouz
Saudi Arabia

Khalid Bin Mafouz has been stuck down by illness, leaving his family to look after the massive fortune he built up.

13. $2.95 BILLION
Mohamed Jameel
Saudi Arabia

Jameel not only runs the worl's largest Toyota dealership, he is also in charge of Saudi Arabia's bigges finance firm

14. $2.5 BILLION
Nadhmi Auchi

The tycoon is Itaq's richest man, though not without legal problems

15. $2 BILLION
Faisal Al Ayyar

Al Ayyar runs Kuwait's biggest private company, with operations in 70 countries.

16. $1.8 BILLION
Saudi Arabia
Sulaiman Bin Abdul Al Rajhi

The tycoon is one of four brother's sharing their banking family cash

17. $1.65Mohammed Al Amoudi
Mohammed Al Amoudi

He is the second largest invester in Sweden and Ethopia, owning a lavish hotel

18. $1.63 BILLION
Mohammed AL Fayed

Now 71 years old, there is no sign of the Egyption born tycoon slowing down.

19. $1.6 BILLION
Mohammed Bin Issa AL Jabber
Saudi Arabia

AL Jabber is the Saudi tycoon who likes to spend, spend and spend. Just ask fellow billionair Warren Buffett.

20. $1.5 BILLION
Wafic Said

The Mr Fixit of arams world has made a fortune over the last two decades.

21. $1.45 BILLION
The Al Shaya Family

The Al Shaya Group is over a century old. Its latest ventures is rolling out the Starbuckes brand in the Gulf.

22. $1.4 BILLION
Maan AL-Sanea

Maan Al-Sanea's background is in flying jets, but he gave it all up make a huge it all up to make a huge fortune in civil engineering.

23. $1.35 BILLION
Saleh Kamel
Saudi Arabia

Saleh Kamel has a passion for media. It is one that has cost him a small fortune along the way. But he hasn't stopped.

24. $1.3 BILLION
Al Zamil Family
Saudi Arabia

The family employs around 8,000 people in one of the Saudi Arabia's largest private enterprises.

25. $1.25 BILLION
Khalaf Al Habtoor

He is the pioneering builder behind the world fampous seven star Burj Al Arab in Dubai.

26. $1.2 BILLION
Mohamed Al Bahar

Al Bahra is widely seen as being the elder statesman of Gulf business.

27. $1.15 BILLION
The Dabbagh Family
Saudi Arabia

The Dabbagh Group was initially founded by Sheikh Abdulla Dabbagh in 1962, a former Saudi Minister for Agriculture.

28. $1.12 BILLION
The Jameel Family
Saudi Arabia

Abdul Latif Jameel runs a huge financial and motoring services group in Afria and across Asia

29. $1.1 BILLION
Adnan Kashoggi
Saudi Arabia

The international arms dealer has swapped his business life for the celebirty jet set circuit in recent years.

30. $980 MILLION
The Al Rostomani Family

The family started in business launching Dubai's first ever book shop Al-Ahliya library.

31. $950 MILLION
The Boodai Family

The family's latest money making vnture is the launch of low cost airline based in Kuwait.

32. $900 MILLION
Simon Halabi

The Syrian born property dealer has made the UK his home, and is buying more property in the country.

33. $800 MILLION
Naguib Sawiris

The tycoon is plannig a strike on the Iraqi mobile networks market, which will make him even richer.

34. $700 MILLION
Al Tayer Family

The family runs one of the most diversified industria groups in the Gulf, based in the UAE.

35. $630 MILLION
The Shoman Family

The family of the founder Arab Bank has kept the financial torch burning.

36. $610 MILLION
Mohammed Ali Alabbar

The chairman of Emaar properties has his hands in several other business pies across the world.

37. $600 MILLION
Mohammed Al Suwaidi
Saudi Arabia

Al Suwaidi runs a prominent Saudi based group which is looking at a stock market flotation.

38. $550 MILLION
Rashid AL Habtoor

The polo playing son of Khalaf Al Habtooe has made a fortune in his own right.

39, $520 MILLION
Saeb Nahas

Saeb Nahas made a packet trading with Saddam Hussein's former regime in Iraq for a number of years .

40. $510 MILLION
Othman Al Aa'di

When it comes to runnig fabulous hotels, no-one does it better than Othman Al Aa'idi.

41. $425 MILLION
Abdulrahman Saad Al Rashid
Saudi Arabia

Saad Al-Rashi is doing so well, he has just made a huge donation to open an Arab University in Hong Kong.

42. $420 MILLION
Mohammed Khalfan bin Kharbash

The chairman of the UAE's state owned telecomes provider is also the country's finance minister- and a very rich one.

43. $415 MILLION
Dr. Omar Al Zawawi

Textiles and industrial goods have helped make Oman's special represntative for foreighn affairs a wealthy man.

44. $410 MILLION
Iskander Sada

He left war torn lebanon ar age of 22, and made his cash by arranging business deals for western companies.

45. $380 MILLION
Mouna Ayoub

Divorced four years ago and Ayoub's pay off, plus the assests she kept, have made her one of the world's richest Arab women.

46. $350 MILLION
Sam Hamman

He was born in Lebanon but made his mark in the UK by taking over small soccer clubs.

47. $310 MILLION
Fawaz Zureikat

The oil for food programme was by the Iraqi regime, with many benefactors.

48. $300 MILLION
Ahmad Zayat

Ahmad Zayat's company made its big money in the Middle East by promoting non-alcoholic beer.

49. $300 MILLION
The Alizera Family
Saudi Arabia

The family has made its cash from number of ventures, with a history dating back over 100 years.

50. $215 MILLION
Ramy and Michael Lakah

The infamous Egyption brothers are extremely rich, but have run into trouble recently.

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To: PaleskeDrAv who wrote (530)1/2/2008 2:12:47 PM
From: StockDung
   of 574
Gold mine claim lures investors - and investigators

American Metal Market > March 9, 1987
Barry Brown
Gold Mine Claim Lures Investors--and Investigators

It is no secret that the gold rush under way in the mining industry today is not analagous to the gold rushes of past decades. Rather, those firms faced with prices, and consequently profits, for base metals in the doldrums, have turned to the lustrous metal to brighten their corporate bottom lines. The facts are quite obvious.

The average world cost to mine gold these days is about $200 a troy ounce. International gold prices have been hovering around the $400-pertroy-ounce mark. Not a bad profit for one's investment.

But the word has leaked out to the general public and now everyone wants into the act, including those who believe you can make fortunes on fool's gold.

The Gannett Westchester (N.Y.) newspapers and the Denver Post recently published an article we thought would tickle the funny bone of any historical buff in the metals business.

We are printing the full text of the story here so that you can decide if this is a good mining investment.


The opportunity to buy shares in a company with rights to the legendary King Solomon's Mines, from which the Biblical king was said to have received huge offerings daily, may sound too good to believe.

But when Saudi Arabian billionaire Adnan Khashoggi, once reported to be the richest man in the world, becomes chairman of the Denver-based firm making the claims, investors--and investigators --are not too far behind.

News of the rich mines, which Khashoggi, a figure in the U.S.-Iran arms deal, says were discovered in the West African country of Mali on property owned by Denver-based Mali-American Mines Ltd., also caught the attention of Vancouver Stock Exchange officials.

The exchange, which halted trading in shares of a Canadian mining company involved in the deal, is looking into whether the mines actually exist.

Vault Explorations Ltd., a small British Columbia gold exploration company, began trading on the Vancouver exchange Nov. 20 and rumors began to circulate that the firm would become a partner with the Khashoggi-associated American company that owned the so-called "King Solomon's Mines.'

Although Vault had done nothing more than announce it had drilled a few exploratory wells near Kamloops, British Columbia, the company's stock soared from 25 cents to 48 cents (U.S.) in its first seven days of trading, with 450,000 shares changing hands.

On Jan. 5 the price was up to $1.39. The next day Vault rose from $2.08 to $2.50 a share in 18 minutes of hectic trading, bringing the stock to 10 times its opening value. Because of the price jump, Vancouver exchange officials ordered a temporary trading halt pending additional information on Vault's rumored partnership with Mali-American.

On Jan. 7, the day after trading was halted, the stock exchange made public a news release issued by Vault and Khashoggi, representing Mali American. The release said that Mali, of which Khashoggi is chairman, had found an enormous reserve of "gold, diamonds and other precious metals' in Mali and that 95 million shares in the venture holding "the legendary King Solomon's Mines' would be sold through Vault.

Khashoggi also said in the release that the Mali reserves will bring prosperity to Mali and help stabilize world finances.

In an accompanying news release, Vault president Maurice Hamellin explained that Mali-American would gain control of Vault through a complex stock swap "equal to the amount of recoverable gold and diamond reserves' in the Mali mines. The agreement stipulated that Hamellin sell his majority interest of 750,000 shares in Vault to Mali-American for 2 cents a share, or $15,000.

Unsatisfied with the information coming from Vault, the Vancouver exchange sent the case on Jan. 12 to the British Columbia Superintendent of Brokers, Michael Ross.

Ross says all he has received from Vault so far is a geological report that he describes as full of "uncertainty, fluff and fuzz.'

The stock exchange's investigation into Vault follows an ongoing investigation into two other Khashoggi-associated Canadian companies, Tangent Oil & Gas Ltd. and Skyhigh Resources Ltd.

Two of Skyhigh's directors, Donald Fraser and Walter Ernie Miller, have been implicated in Khashoggi's Iran arms financing.

Between November 1985 and January 1986 Vertex Finances S.A. and Euro Commercial Finances B.V., the two Cayman Island-based companies controlled by Fraser and Miller, loaned Khashoggi $30 million. Part of that money allegedly was used by Khashoggi to help provide financing for one of the arms sales.

Khashoggi is reported to be assetrich and cash-poor, with more than $150 million in debts and a growing list of lawsuits.

But Paul Esquivel, a mining analyst with Davidson Partners of Toronto, says that when people hear that Khashoggi is involved with a company "everybody from dentists to board directors wants in. They're convinced the stock will go up.'

In reality, Esquivel says, promoters play up an alleged Khashoggi involvement, and trading in the stock exchange becomes "like a pyramid game where the little guy gets burned.'

Esquivel says promotional claims about stocks usually have some basis in fact, and because it isn't illegal to say you have found what may be King Solomon's mines a lot of people are going to invest on the hope it may turn out to be true.

"You can make a lot of money from nothing,' he said. "It's done all the time.'

COPYRIGHT 1987 Reed Business Information
COPYRIGHT 2004 Gale Group

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To: DrAvPaleske who wrote (518)1/8/2008 3:59:21 PM
From: StockDung
   of 574
L. H. Ross also fond of GENI


Claimant asserted the following causes of action: breach of the Tennessee Consumer
Protection Act; fraudulent misrepresentation; negligence; and breach of fiduciary duty. The
causes of action related to Claimant's assertion that L.H. Ross, Dunne and Redding made
certain misrepresentations regarding the purchase of various securities including ABF New
Century Financial and Genesisintermedia, Inc.

From: To: Award Type: All Awards FINRA NASD NYSE Pacific Exchange AMEX PHLX MSRB
Case Number or Document Text:
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1 match found

sort by: date of award descending date of award ascending
1. 03-02884
Extract: AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Claimant Floyd E. Austin and Case Number: 03-02884 Hearing Site: Nashville, Tennessee Respondents L.H. Ross & Company, Inc., Peter C. Dunne and Gary J. Redding NATURE OF DISPUTE Customer v. Terminated Member and Associated Pers
Size: 225358 bytes
Date of award: 07/06/2006

CONTACTS: Wednesday, January 19, 2005

Nancy Condon (202) 728-8379

Herb Perone (202) 728-8464

NASD Panel Expels Florida Brokerage LH Ross, Orders Nearly $12 Million in Fines, Restitution; Issues First Permanent Cease and Desist Order

Violations Involve Fraudulent Activities Relating to Unregistered Self-Offerings, Obstructing NASD Investigation by Failing to Provide Financial Documents

Panel Cites “Widespread, Significant and Identifiable Customer Harm,” Terms Future LH Ross Sales Solicitations “Extreme Threat to the Investing Public”

Washington, DC – An NASD Hearing Panel has expelled Boca Raton, FL-based brokerage LH Ross for fraud and other violations related to the sales of unregistered self-offerings that the panel called “little more than a scheme to defraud investors.” The panel ordered the firm to pay a $500,000 fine, more than $11 million in restitution to investors, prejudgment interest of at least $450,000 and hearing costs of more than $18,000.

The panel also imposed NASD’s first-ever permanent cease and desist order, which replaced the temporary cease-and-desist order (TCDO) that NASD imposed in August 2004 to stop LH Ross’s ongoing fraudulent and illegal sales activities. This case represents the first time NASD has used its TCDO authority, which was approved by the SEC in June 2003.

The Hearing Panel found that LH Ross brokers, acting with the intent to “deceive, manipulate or defraud investors,” made material misrepresentations and failed to provide important information to investors in connection with private sales of LH Ross stock in 2003 and 2004. At least 150 investors in 27 states purchased the preferred stock. The panel also found that LH Ross invested at least one customer’s funds in the firm’s stock without that customer’s knowledge or consent.

“In essence, LH Ross operated a boiler room,” the panel’s decision said. “The firm engaged in a concerted, high-pressure telephone campaign to sell unregistered securities in the form of units of convertible preferred LH Ross stock, showing little concern for the customers’ investment needs or objectives. The firm employed false and deceptive means to solicit customers, who had no independent way to verify representations made by the brokers about the firm… This case involves widespread, significant and identifiable customer harm, and the panel believes that LH Ross and (its president) have retained substantial ill-gotten gains.”

According to the panel’s decision, LH Ross’s transgressions include: a pattern of failing to send the private placement memorandum to customers or sending it well after the purchase; failing to reflect the acquisition of preferred stock on customers’ monthly account statements; telling customers their investment had doubled without divulging that the firm had simply doubled the price of the preferred stock in another offering; making additional material misstatements to customers who posed questions about the offering; completely ignoring many customer complaints about the offerings; and dissipating or misappropriating a significant portion of the millions of dollars raised in the self-offerings, “which appear to be little more than a scheme to defraud investors.”

The panel also noted that LH Ross and Franklyn Michelin – the firm’s CEO, CFO, COO, President and Chief Compliance Officer – had knowingly hired several brokers from firms with regulatory problems, including abusive sales practices. One of those individuals, who was hired as vice president for investment banking, was awaiting sentencing for his felony conviction for conspiracy to commit mail and wire fraud. The panel said Michelin knew from customer complaints he had received personally that his salesman were making false claims, but took no corrective action.

“Respondent’s argument that it is not responsible for fraud committed by its registered representatives – particularly under these circumstances – is utterly specious,” the panel said in its decision.

The Hearing Panel found that LH Ross failed to respond to repeated NASD requests for information and documents related to funds raised during the private placement offerings and how those funds were used. Among the information LH Ross failed to provide: the name of the escrow and/or bank account in which proceeds from the preferred stock sales were deposited; the financial institution at which the account is held; the account number; the person or persons with authority to withdraw funds from the account; the date and amount of withdrawals from the account; and to whom the withdrawals were payable.

In its decision, the panel said it “believes that Respondent’s lack of cooperation was an attempt to obstruct NASD’s investigation of this ongoing fraud.” Noting that to date, LH Ross has “offered no reasonable explanation for its complete failure to respond… the panel concludes that the Respondent has refused to provide the requested information because it does not exist or contains information that is detrimental to the firm.”

In imposing the permanent cease and desist order prohibiting LH Ross from engaging in a wide range of activities, the panel said, “Any future attempt by LH Ross to solicit customers to invest in unregistered securities issued by the firm poses an extreme threat to the investing public.” In imposing an obligation on the firm to pay restitution of over $11 million and prejudgment interest, the panel rejected Michelin’s assertion that all of the money raised had been spent on business related activities.

The Hearing Panel’s decision can be appealed to the NASD’s National Adjudicatory Council (NAC) within 25 days. NAC decisions can be appealed to the Securities and Exchange Commission (SEC). SEC decisions can be appealed to U.S. District Court.

NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business - from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and member firms. For more information, please visit our Web site at

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Web Results 1 - 10 of about 19 for "l. h. ross" mafia. (0.34 seconds)

Schemes That Blackened Industry
They also used New York and Russian mafia members as protection. ... Founded L.H. Ross in 1994, and was expelled from NASD membership in 2004. ... - 42k - Cached - Similar pages

Financial News Discussion :: View topic - Mob Boiler Room Scheme
Among those nabbed by the FBI yesterday were reputed Mafia capo Joseph ..... Between 1999 and 2002, Ferragamo worked at the brokerage firms L.H. Ross & Co. ... - 86k - Cached - Similar pages

CourtDocs | News and documents from U.S. Courts, among other places
... Couch and Company, Inc., L.H. Ross & Company, Inc., and Yankee Financial Group, Inc. ... Tags: mafia, mob, organized crime, fbi, nyc, new york, genovese ... - 65k - Cached - Similar pages

CourtDocs | Colombo and Luchese Figures Admit Boiler Room Scheme
... Inc., Couch and Company, Inc., LH Ross & Company, Inc., and Yankee Financial Group, Inc. ... Tags: mafia, luchese, colombo, stocks, fraud, boiler room ... - 31k - Cached - Similar pages

File Format: PDF/Adobe Acrobat - View as HTML
organization known by various names, including the “mafia” and “La ...... callers at LH Ross, who used the telephone to sell LH Ross ... - Similar pages

There will be many true stories about the Mafia, The Mob, the Guys on Sunset, The Outfit and .... 15 brokers at LH Ross and Company, alleged in Racketeering ... - 66k - Cached - Similar pages

Hollywoodmafia: September 2007
... crime figures and groups in California. There will be many true stories about the Mafia, The Mob, the Guys on Sunset, The Outfit and some Gangs. ... - 188k - Cached - Similar pages
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GangstersInc's: Mobbed Up Forum -> Colombo Crime Family
... Inc., LH Ross & Company, Inc., and Yankee Financial Group, Inc. ..... The son of dead Mafia informant Gregory Scarpa admitted to investigators he helped ... - 141k - Cached - Similar pages

GangstersInc's: Mobbed Up Forum -> Colombo Crime Family
An infamous piece of Mafia history - the 1971 hit on Joe Colombo - will be ..... Inc., L.H. Ross & Company, Inc., and Yankee Financial Group, Inc. ... - 155k - Cached - Similar pages
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Finance scandals show frailty of Italian politics
... promised to try to limit the practice in future to just terrorism and Mafia probes. ... LH Ross' Michelin pleads guilty to fraud, DDPETER, 8/19/05 4:39 ... - 32k - Cached - Similar pages

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