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Always perform good research of a company and immediate research upon news releases. Even with good research, you will still be fooled as many of us were fooled by Fahman of PRVH.
Learn from my mistakes and mistakes of others.
This is a snippet from email to Henry Fahman, the CEO of PRVH:
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Related to your news release about Southridge Capital Management and Stephen Hicks, here are past allegations of securities fraud, death spiral financing and drug money laundering involving Stephen Hicks from public sources, law enforcement sources and court records:
"On January 26, 2001, in order to protect ITIS and its stockholders, ITIS filed a lawsuit in United States District Court for the Southern District of Texas, Houston Division, against Southridge Capital Management...for damages resulting from alleged stock manipulation, federal securities law violations, civil RICO, fraud, violations of Texas securities laws and other Texas statutes, and conspiracy."
"Mark Valentine and 58 others have been indicted... Valentine also controls TK Holdings with his partners Stephen Hicks and others... The case was unveiled by the FBI and the RCMP in Miami and Vancouver.
Other authorities playing strong roles in the RCMP-FBI-led operation include theUnited States Postal Inspection Service, the U.S. Securities and Exchange Commission, the National Association of Securities Dealers' criminal prosecution assistance group, the State of Florida's Department of Banking and Finance and the U.S. State Department's Diplomatic Security Service...
...resulting in three indictments, targeted corporate officers, stock promoters and other financial professionals who used U.S., Canadian and offshore banks to launder a total of about $1.4-million of funds purportedly from domestic cocaine distributions. "These money laundering allegations were agreed upon as the initial part of a longer standing business relationship where the defendants ... would receive many more millions of dollars, represented as cocaine proceeds," states the U.S. Attorney's office."
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