RE:RE:RE:RE:35 mill share PP at $ .025 per share... you can't even makekcuhc wrote: not before i get very wealthy lol...i just got to figure if i want to stand that low in life...
Madam president might be distracted by her husband due to the following allegations against him and his subsequent arrest in the USA.... SEC, DOJ charge Adam for planned manipulation 2015-05-26 20:11 ET - Street Wire See Street Wire (C-*SEC) U S Securities and Exchange Commission by Mike Caswell The U.S. Securities and Exchange Commission and Department of Justice have charged Vancouver's Mitchell Adam and an associate, Kenneth David Stevenson, for their roles in a 2013 market manipulation scheme. Prosecutors claim that the men planned an elaborate pump-and-dump of a purported oil company, HBP Energy Corp. The alleged plan, which included wash trades and cold-calling, fell apart after an associate began co-operating with authorities. Authorities arrested Mr. Adam on the charges last week at the Houston George Bush Intercontinental Airport in Texas. He appeared before a judge there who ordered the U.S. Marshals Service to transport him to New Jersey, where the case was filed. Agents took Mr. Stevenson into custody on Dec. 9, 2013, but kept the file sealed until after Mr. Adam's arrest. Mitchell Adam LINKED IN Mitchell Adam Mr. Adam, a resident of Vancouver's Dunbar neighbourhood, has had roles with dozens of TSX Venture Exchange companies. They include a period as president of BonTerra Resources Inc. and as president of Weststar Resources Corp. He was also the president of Oxford Resources Inc. until last week. The company reported his resignation on Friday. Details of the charges against the men are contained in a complaint that the SEC filed on Tuesday, May 26. The document identifies Mr. Adam as a 47-year-old Canadian citizen. It lists Mr. Stevenson, 55, as a Canadian and resident of West Vancouver. The final defendant is a New York lawyer, Adam Gottbetter, 46. The complaint describes how Mr. Adam and Mr. Stevenson met Mr. Gottbetter, a well-known securities lawyer, in July, 2013. At the time Mr. Gottbetter had run prior market manipulation schemes, the complaint states. These included the pump-and-dump of a company called Kentucky USA Energy Inc., which generated $12-million in proceeds, according to the SEC. (All figures are in U.S. dollars.) Mr. Gottbetter was the architect of the promotions, arranging shell deals and recruiting traders to manipulate the stocks, the SEC claims. He was in the midst of arranging another such deal when he met Mr. Adam and Mr. Stevenson, the SEC says. The complaint describes the pair as veteran stock promoters who hatched an ambitious plan with Mr. Gottbetter. The three planned to drive up the price of HBP Energy, a purported oil company, with matched trades, spam and offshore call centres. Traders that Mr. Gottbetter knew would carry out most of the market work, while Mr. Adam and Mr. Stevenson would set up the call centres and the promotional material, according to the SEC. It appears from the complaint that Mr. Gottbetter quickly warmed to the deal. In a phone conversation with a trader (who was secretly co-operating with law enforcement) he said he had been approached by a "big hitter" and that this "big hitter" was looking for someone to "run the market." He then invited the trader to join the scheme. The men discussed the plan in detail in several subsequent phone calls and face-to-face meetings. During these meetings they acknowledged that there would be consequences if they were caught, the complaint states. In fact the men repeatedly warned each other of the dangers and rehearsed stories to use if the authorities questioned them, the SEC claims. In one of those meetings, Mr. Gottbetter likened the activity to robbing a bank, according to the complaint. As part of their initial efforts, the men acquired control over a shell that would become HBP Energy, the SEC says. They had it issue 900,000 tradable shares, with that stock becoming 30 million after a 33:1 split. The transaction gave the men control over all of the tradable shares of the company. Mr. Adam and Mr. Stevenson also met with the trader Mr. Gottbetter had enlisted, the complaint states. At the meeting, which took place at a New York hotel, the trader explained to them that he would use 32 accounts held by foreign nominees to "walk up" the stock. The idea was to create an "attractive but fake" stock chart, the SEC claims. Around the same time Mr. Adam and Mr. Stevenson would carry out a European road show while Mr. Stevenson would "bring in buying" of $1-million or more to keep the stock rising, the complaint states. Then, using early proceeds from the scheme, Mr. Adam would pay for spam campaigns and have call centres around the world start pitching the stock, the SEC claims. Once the stock started rising, Mr. Gottbetter, Mr. Adam and Mr. Stevenson would sell their shares and divide the proceeds amongst themselves using predetermined percentages, according to the complaint. The plan, however, was doomed before it could begin. According to Mr. Adam's criminal information sheet, the trader Mr. Gottbetter employed had begun working with law enforcement agents in July, 2012. (The sheet does not identify the trader, only saying he was the owner of a New York brokerage.) Working with that trader, law enforcement agents were able to corral what prosecutors describe as a substantial amount of evidence against Mr. Adam. This includes recordings of phone calls and meetings as well as e-mails, trading records and bank records. While authorities arrested Mr. Adam last week, Mr. Gottbetter and Mr. Stevenson were arrested in 2013 and 2014. Their court records only became public on Tuesday, after Mr. Adam's arrest. Those records reveal that they struck deals around the time of their arrests in which they pleaded guilty and were released on $500,000 appearance bonds. Mr. Stevenson's sentencing is scheduled for Thursday, May 28. Mr. Gottbetter received his sentence on Tuesday morning, the same day the files were unsealed, with the judge giving him 18 months in jail. Mr. Gottbetter also agreed to pay the SEC $4.6-million to settle its parallel civil case. Mr. Stevenson is scheduled to be sentenced on Thursday, May 28. The criminal charges are conspiracy to commit securities, mail and wire fraud. They carry a maximum penalty of five years in jail. In addition, the SEC is seeking appropriate civil penalties. Mr. Adam has not yet entered a plea. © 2015 Canjex Publishing Ltd. All rights reserved.