Penny Stock Fraud Info

Saturday, April 26, 2008

SEC took bribe from criminals involved in TWTN - AHFI - CNDD fraud - NC AG sues

U.S. charges Quebec man with securities fraud

Peter Brieger, Canwest News Service
Published: Saturday, April 26, 2008

TORONTO - A Montreal penny-stock promoter has been charged in North Carolina with securities fraud for his alleged role in a $23.4-million US pump-and-dump scheme.

State authorities laid conspiracy and money laundering charges this week against Bryan Kos and American David Hagen after a grand jury returned a two-count indictment. None of the allegations has been proven.

The charges come just more than a year after the U.S. Securities and Exchange Commission imposed fines on the Montrealer and another American colleague, Donald Oehmke, of $650,000 and $1.5-million, respectively, for fraudulently selling shares in public companies. The SEC settlement did not carry an admission of wrongdoing.

****Oehmke is listed in the criminal charges as one of eight unindicted co-conspirators.

In a 29-page indictment, the U.S. attorney in Charlotte, N.C., alleges that Kos and Hagen—who was convicted in 1990 of mail and bankruptcy fraud as well as money laundering—earned $23.4 million by artificially creating demand for shares in virtually worthless companies between 2003 and 2006.

Those companies included BodyScan, Twister, Absolute Health, Concorde, BioHeal and GTX Global. Hagen was GTX’s chief executive, according to the indictment.

Both men and the alleged co-conspirators are alleged to have hidden their ownership in the companies through various offshore entities and marketed the shares via the Internet, unsolicited faxes, press releases and disclosure documents.

Those promotional materials contained “material factual misrepresentations and omissions,” including earnings projections that were known to be “unrealistic and unjustifiable,” statements about company operations that were “false,” and did not disclose that two of the co-conspirators have criminal records, the indictment says.

It blows my mind to see how long they take to press charges.

“The SEC settlement did not carry an admission of wrongdoing.”

The SEC is as guilty as anyone.

The SEC took the money that these criminals stole from investors to settle the charges.

The SEC got its cut like the Mafia, protection money called “fine.” According to the figures in this article they got about 10%. I suspect some SEC officials got a few bucks on the side. And the victims got nothing.

The NC AG should go after the officers in those entirely FAKE companies like Absolute Fitness and Twister Networks.

It’s been a long time since I looked at my research at Twister Networks and Absolute Fitness

It was pretty intense for a while, getting involved with all these crooks.

RESTITUTION for the defrauded investors is unlikely.

The SEC is happy it got paid off and I doubt that Oehmke et al were dumb enough to NOT hide the loot. Thought I’d check the NC complaint to see whether they froze assets.

I couldn’t find a press release or the complaint at the NC AG’s site.

I couldn’t even find a way to search the site. Here is another article.

Posted by Christine on 04/26 at 12:57 PM in SELL - scammers and spammers, AHFI, CNDD
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Thursday, March 16, 2006

FBI investigates CNDD, AHFI, TWTN, BDYS, SGNJ, BHLL fraud

If you lost money on CNDD, AHFI, TWTN, BDYS, SGNJ or BHLL, please respond to Steve Kirsch’s latest announcement:

please fill out the survey on this page:
http://www.junkfax.org/fax/profiles/wsp/bushross/LossSurvey2.htm

The FBI is investigating this case and it is highly likely that
criminal charges will be brought, but they need your help.

This information will only be used by the FBI. If you are skeptical,
email me and I’ll give you the FBI office that is investigating this
crime.

More info is posted at Is Bush Ross co-founder Jere Ross (aka Jeremy Ross) a crook?

Posted by Christine on 03/16 at 01:45 AM in SELL - scammers and spammers, AHFI, CNDD, RYNL fka TWTN
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Wednesday, November 23, 2005

Hope for CNDD, AHFI, TWTN, BDYS, SGNJ, BHLL fraud victims

Steve Kirsch announced at the Yahoo group CNDD stock fraud:

Great news. I obtained some key evidence in the mail today that I believe proves beyond any reasonable doubt that Bush Ross is liable for your loss. I believe this evidence is strong enough to take to any attorney to pursue our case against them.

If you would like to recover the money you lost on the stocks promoted by these guys (Kos, Jaynes, Ross, etc.) on the stock fraud page on
junkfax.org, then please fill out this form asap:

Loss Survey

Thanks.

I generally do NOT recommend that you sign up at websites after you lost money because you’re likely to get on a new SUCKER list. However, you don’t have to worry about that with Steve Kirsch - go ahead, sign up, hope for the best.

I previously posted: Is Bush Ross co-founder Jere Ross (aka Jeremy Ross) a crook?

It sure looks to me like he’s a crook.

Posted by Christine on 11/23 at 08:39 PM in SELL - scammers and spammers, AHFI, CNDD
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Monday, March 07, 2005

If you lost money on TWTN, CNDD, AHFI, BDYS or SGNJ

I’ve received several e-mails from readers asking for additional info and help - I already posted what I know and I’m doing some more research on TWTN.

Please sign up for the Yahoo group at http://groups.yahoo.com/group/cnddStockFraud/ and of course I’ll post future news here.

I expect class actions to be filed if there are any assets.

Save any FAXES you received.

You’re entitled to a minimum of $500 per unsolicited fax, for more info please check http://www.junkfaxsuit.info/

Posted by Christine on 03/07 at 07:01 PM in SELL - scammers and spammers, AHFI, CNDD, RYNL fka TWTN
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Thursday, February 17, 2005

The SEC filed suit re Absolute Health & Fitness—AHFI and Concorde—CNDD

The SEC complaint

It was about time!

Very interesting reading.

Posted by Christine on 02/17 at 12:29 AM in SELL - scammers and spammers, AHFI, CNDD
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Friday, January 14, 2005

AHFI, TWTN, CNDD, BDYS, SGNJ scam - possible legal action

If you are an investor who lost money on AHFI, TWTN, CNDD, BDYS, SGNJ, please sign up for the Yahoo group at http://groups.yahoo.com/group/cnddStockFraud/

Steve Kirsch has done a tremenous amout of work, read his fascinating research about Tom Heysek and the junk faxers, spammers and scammers at How Bryan Kos, Tom Heysek, Jeremy Jaynes rip people off for over $100 million without getting caught

Maybe the title of this page will be changed to reflect some prison terms - although it rarely happens that criminal charges are brought against the crooks.

At the Yahoo group you can read updates and if you’re in California and you lost money, you can contact Steve Kirsch. Please don’t ask me for info - all I know is what’s posted.

I can tell you that the TWTN president Bruce Thomsen refused service by certified mail. He’s a crook and they know what’s up. Notably, he is also the registered agent for Twister Networks. I actually sent two separate mailings - one for him and one for the corporation, but the other mailing was signed by another person on1/7/05. That’s despite the $3.50 I paid for restricted delivery. Have to get some legal advice on what to do next. I doubt they’ll answer.

Crooks.

Posted by Christine on 01/14 at 08:33 PM in SELL - scammers and spammers, AHFI, CNDD, RYNL fka TWTN
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Sunday, January 02, 2005

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.”

...”

Posted by Christine on 01/02 at 07:25 PM in SELL - scammers and spammers, CNDD
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