|From: StockDung||2/26/2014 8:20:25 AM|
|Man in diamond mine scandal dead but certainly not forgotten |
Posted date February 25, 2014 - 11:48pm
By John L. Smith
Las Vegas Review-Journal
Urban Casavant is dead, but don’t expect all the suckers who dumped millions into his diamond mine stock scam to believe it.
In fact, the Cult of Casavant and the CMKM Diamonds swindle continue apace despite the officially confirmed end of the line for the penny stock mastermind, whose shenanigans allegedly topped $70 million.
Investor chat rooms recently went into overdrive chewing on the possibilities. Some investors swore they didn’t believe Casavant was dead. Then again, some of those same investors still hold out hope he wasn’t conning them all these years.
When the Review-Journal last week published a story noting Casavant’s official death on Feb. 14 in Canada, one reader replied, “What a bunch of crap. Where are the documents where Urban was fighting extradition? I don’t believe a word of this article.”
Multiple unofficial reports on the Internet states Casavant had died during hernia surgery. Lifting that much bravado for so many years apparently took its toll.
The Las Vegas-based Casavant was indicted in 2009 on securities fraud charges. He and nine others on March 24, 2010, were slammed with a superseding indictment on a variety of securities fraud and other felonies that included conspiracy to money launder and tax evasion.
The Securities and Exchange Commission for years pursued Casavant and his crew on civil violations related to his infamous Canadian diamond boondoggle.
According to the superseding indictment, Casavant’s team used at least nine shell corporations to facilitate the unregistered sale of stock to customers recruited through his own contacts and a series of boiler room-style solicitations.
It wasn’t a small operation. Although shares in CMKM often traded in the fractions of a cent, according to the indictment, “the conspirators and their confederates caused these and other corporate shells to issue hundreds of billions of unregistered shares of stock to the defendants and their 14 nominees, associates, alter-egos and straw-purchasers.”
Of course, if Canadian diamond investment didn’t catch your fancy, Casavant’s crew back in 2006 was more than willing to sell you shares — as many as you desired! — in a guaranteed moneymaker called Worldwide Cannery and Distribution, which supposedly was shipping king crab from St. Petersburg, Russia, to the United States.
“In truth, the seafood cannery was not producing products or profits but was instead defunct and bankrupt,” the indictment noted.
Alas, no diamonds. And no crab, either.
The suckers chased good money after bad and held out hope of grand future paydays after reading the steady stream of forward-looking statements coming from Casavant and CMKM. As always, the diamond score was always just around the corner.
Eventually, many investors realized they were getting the runaround and lit up phone lines at the SEC, FBI, IRS and elsewhere.
The indictment states, “These shells did not conduct substantial business activities and produced no appreciable goods, services, or profits. Indeed, the principal business activities of these shells was the sale of unregistered shares of stock. Despite the elaborate facade constructed by the enterprise, investors in time recognized that shares of the particular corporate shell in which they had invested were of little, if any, value.”
By then, of course, Casavant had long since spent their money on everything from gambling forays at Strip casinos to expenses for a racing team that also marketed CMKM Diamonds.
His racing team briefly entered the 2012 U.S. Senate race between Dean Heller and Shelley Berkley. A racing enthusiast, as Nevada secretary of state, Heller had once driven a Casavant race vehicle. Heller through a spokesperson denied he had ever done Casavant any favors.
Although it’s not going to placate those investors who fantasize about recovering anything from their encounter with Casavant, his departure must have some people breathing easier: for one, those casino officials who played the gracious host to the high roller in the months and years after his activities were made public in the Review-Journal and on credible stock watchdog websites.
Word is Casavant blew a bundle at the tables.
Now he’s gone — but you don’t have to believe it if you don’t want to.
John L. Smith’s column appears Sunday, Tuesday, Wednesday, Thursday and Friday. E-mail him at firstname.lastname@example.org or call (702) 383-0295.
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|To: StockDung who wrote (2591)||2/27/2014 2:50:00 PM|
|US v. John Edwards et al (CMKM) - »Case Update: CMKM |
The public is reminded that an indictment contains only charges and is not evidence of guilt. The defendants are presumed innocent and are entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.
Defendants: John Edwards, Jeffrey Turino, Urban Casavant, Nickolaj Vissokovsky, Melissa Spooner, Helen Bagley, Jeffrey Mitchell, Brian Dvorak, Ginger Gutierrez, James Kinney
A false rumor has circulated that confuses the criminal prosecution in the District of Nevada (United States v. John Edwards, et al., 2:09-CR-00132-RLH-RJJ) with a civil suit out of the Central District of California that has now been dismissed (David Anderson, et al., v. Christopher Cox, et al., 8:10 –CV-00031-JVS-MLG). There are many variations of this rumor. However, in short, the Anderson civil case is not related to the Edwards criminal case. In Anderson, the plaintiffs allege that the SEC and other agencies of the U.S. Government conducted a sting operation against “illegitimate brokers, dealers, market makers, hedge funds, and other persons and entities that had engaged in naked short selling of CMKM Diamonds Inc. stock.” Anderson Rev. First Amended Complaint, p. 17, para. 48. Essentially, the Anderson case involved allegations against an entire industry. In contrast, the superseding criminal indictment in the Edwards case charges a more clearly defined group of defendants: insiders at one company (CMKM) and people who enabled them.
Additionally, in the course of investigating and litigating the Edwards criminal case, government personnel in the District of Nevada have not encountered any evidence indicating that a government agency conducted a sting operation against naked short sellers of CMKM stock. Government personnel in the District of Nevada have also not come across any evidence of any settlement fund (much less any settlement fund with trillions of dollars) potentially available to pay possible claims of CMKM shareholders. The criminal investigation in the District of Nevada resulting in the United States v. John Edwards, et al., indictment involved no sting operation.
We hope this statement clarifies the differences between United States v. John Edwards, et al., with the facts alleged in David Anderson, et al., v. Christopher Cox, et al. The public is reminded that defendants are innocent until proven guilty. Thank you.
Scheduled Court Hearings
Status Hearing - April 29, 2014 at 9:00 am
Trial Date - April 23, 2014 at 9:30 am
(John Edwards, Urban Cassavant, and Nickolaj Vissokovsky will not get a court date until they make their initial appearance in Nevada)
Information and Assistance for Federal crime victims and witnesses brochure
Second Superseding Indictment
On March 24, 2010, the grand jury returned a sealed Second Superseding Indictment which added the following defendants: Jeffrey Turino, Nickolaj Vissokovsky and Jeffrey Mitchell. In addition, several new charges were added, alleging that certain defendants engaged in a conspiracy to conduct an enterprise engaged in a pattern of racketeering activity, a conspiracy to sell unregistered securities and to commit securities fraud and a conspiracy to commit money laundering. On May 6, 2010, the Second Superseding Indictment was unsealed.
The superseding indictment in United States v. Edwards, et al., alleges as follows: the defendants combined and conspired to perpetrate a fraud involving the issuance and sale of CMKM stock over a period of several years. Hundreds of billions of shares of CMKM stock were sold to thousands of investors during that span. Investors in CMKM are invited (but not required) to complete the following questionnaire. The questionnaire solicits information pertaining to this case for purposes of enabling prosecutors to confer with and receive information and opinions from victims of the CMKM scheme. Please note that while the completed questionnaires will not be publicly accessible, relevant information may be disclosed to the court and/or defense counsel in accordance with the Federal Rules of Criminal Procedure and other laws.
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|From: DanDerr||12/28/2014 8:55:46 PM|
|Wow! Watch for those CMKI ER Payout trucks! |
Any Day now!
Update From Al Hodges Emailed to Recaps
12/19/2014 10 Comments
Most of the high-level and medium-level people, both in and out of government, have either been “wood-shedded” and/or arrested, and now face disgrace, loss of financial advantage, loss of position-of-power, loss of official office, and near-term prosecution.
In my opinion, having participated in many of the events as they occurred, we are finally at the point of conclusion.
While it is very difficult to accept the inordinate amount of time this has taken, I can tell you that the acts involved were categorically required to accomplish the end goals.
As a result of now having a fuller understanding of both the end goals, and the progress to date, I will once again stick my neck out to advise you all that your journey is essentially over.
My professional opinion is based not only on what I am told each day by those at the top of the New Powers That Be, but more importantly on the status of the imminent Global Currency Reset.
Its status is important because it cannot become a public fait accompli without the US Treasury becoming a hard-metal asset-backed issuer of US currency – the very definition of ER.
Accordingly, when you publicly see the Global Currency Reset you will know that we have an asset backed currency, and you will know that we have received ER.
Every indication from every credible source is that the Reset will become public today, tomorrow, the next day, or certainly by January 1, 2015; most probably before Christmas.
I do not and cannot guarantee this of course; but, it does represent my professional opinion based on all available information.
I can assure you that the impact of what you are so soon to experience will mightily shatter any doubt, disbelief, bitter humor, or unhappy memories that this journey may have encouraged and supported.
As I have said in the past, “you will be paid a great deal more than any have the right to expect [based on the amount of your investment]. In addition, you will receive a payment for the unconscionable length of payment delay.” Merry Christmas and Happy New Year to all!
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