Penny Stock Fraud Info
Concorde America—CNDD—the perfect example of stock fraud
Concorde America—CNDD is not just another “pump and dump” scam, the promotions were totally fraudulent.
Please read Steve Kirsch’s Anatomy of a stock fraud for many details about this scam.
At the CNDD website http://www.concordeamericainc.com you’ll find a link to “the business plan and financial statement:”
“… identification, recruitment, qualification, transportation and placement of documented immigrant workers, to be drawn largely from Central and South America, for employment in countries belonging to the European Union, ...”
Europeans reading paragraph 8 and being told that a whole bunch of Americans bought into CNDD would probably laugh so hard they’d choke.
This is as at least as idiotic as forming a company to bring in Mexicans to meet the demand for unskilled labor by American companies. Don’t miss the part about “licensing” fees of $250,000 and the expenses of $524,000 to establish offices. That’s money Lord already blew. Of the $1 million he received for the 100 million shares, he only had $116,000 left on 9/30/04. Is there anything left?
This filing also addresses the promotions, the SEC investigation and
“14. Brokers and Dealers: The Company is aware that more than 40 securities brokerage firms have submitted quotations with respect to the Company’s freely traded shares. No representative of any such entity has informed the Company of its intention to make a market in, or to initiate or submit quotations with respect to, such shares, nor, to the Company’s knowledge, has contacted the Company seeking information on behalf of a customer that owns such shares. Neither the Company nor any affiliate thereof has any association with any of the referenced brokerage firms or any of their representatives.”
I don’t understand why none of the brokers check what’s going on. Obviously, you want to read this entire document if you are a shareholder.
The chart speaks for itself: 1-2-05-6-mo-chart-CNDD.gif
From CNDD President Hartley Lord’s disclaimer:
“Hartley Lord, the Company’s President, stated that:
“While we recognize that analysts and others interested in the European labor market have the right to publish whatever statements they choose about the Company’s business model, we wish to make clear to the investing public that the statements made in the referenced releases have not been authorized by Concorde America, Inc., nor has any Company official provided any of the information contained therein. While we have faith in the plans that are being developed, the Company is in its formative stage, and will need to develop substantial experience in the European marketplace before we are prepared to provide any public information concerning our operational results or expectations. At such time, we will clearly identify any release authorized or issued by the Company.”
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