posted
i'll believe it when i see it legel...nbc has been as reliable as cmkx,,,well come to think of it cmkx is more reliable, we know well in advance what the pps is going to be..lol i'm glad nbc will finally air that show. the only way the market manipulation & naked shorting will end is by the public as a whole gets involved. naked shorting has effected many stocks & not just OTCBB or pinks. SIRI was believed to have been shorted a great deal at 1 time. part of the reason its o/s got so high.
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Posts: 88 Re: Dateline NSS Air Date- April 10th... (CONFIRME « Reply #13 on: Today at 5:16pm »
-------------------------------------------------------------------------------- I just got this,,,,,,,,Dateline NBC Air Date Set For Naked Short Selling Program FinancialWire has learned exclusively that the air date for the heralded and much-awaited national expose on the manipulative short-selling scandal known as StockGate is Sunday, April 10!
The program has been in production for over a year.
Two other articles of interest regarding StockGate were published today:
StockGate: Did DTCC Interfere With First Amendment Distribution of Newswire?
Mar 28, 2005 (financialwire.net via COMTEX) -- March 28, 2005 (FinancialWire) In a developing scandal, while the Depository Trust and Clearing Corp., controlled by the NYSE and NASD awaits the findings of one media regarding its purported role in assisting naked short selling, Dateline NBC, produced by General Electric (NYSE: GE), it has reportedly taken blatantly unconstitutional action to squelch the distribution of the reporting of another media.
Investrend Information, which publishes FinancialWire, said it has asked its counsel, Marshal Shichtman, Esq., to look into the circumstances that led to FinancialWire being removed from the distribution of Investors Business Daily, which supplies news feeds to Yahoo (NASDAQ: YHOO), after MarketWatch, formerly a partner with Viacom's (NYSE: VIAb) CBS and now a unit of Dow Jones (NYSE: DJ) was asked by IBD to turn off its feed to its online Investors.com and its redistributions.
Shichtman has been provided with information about emails that purportedly described the collusive action as having been taken February 7 at the request of an executive with the DTCC.
The DTCC apparently objected to the continued distribution of FinancialWire on the basis that in its opinion, the newswire publishes "opinion" and "not news."
Both First Amendment and wrongful interference issues may be involved, as well as more serious Federal consequences should it be determined that DTCC executives have quasi-governmental ties. The First Amendment specifically protects news organizations from interference by the government.
Although dozens of other media have now reported on the growing national scandal termed "StockGate," the DTCC has now publicly confirmed that its primary beef is with FinancialWire, which has been the sole media regularly following the now rapidly-expanding story for the past two years.
In a post on its site, First Deputy General Counsel Larry Thompson responded to a DTCC statement that "Some articles have said we make almost $1 billion from (the Stock Borrow program):
"This statement is purposely misleading. One billion dollars represents our total revenue from all our operations of all subsidiaries. The fact is that there are NO separate fees for transactions processed through the Stock Borrow program. There is just the normal fee for delivery of the shares, which is 30 cents per delivery. If you assume we make an average of 22,000 deliveries through Stock Borrow a day, there would be about $6,600 extra a day in revenue over 253 trading days, or about $1.67 million a year in additional revenue, out of $1 billion."
FinancialWire had never stated what the DTCC makes from the Stock Borrow program. It quoted lawsuits as alleging that, and the only response the DTCC made to FinancialWire inquiring about the lawsuits was to deny that they existed.
Rather than dispute, comment on or respond to FinancialWire's inquiries, the DTCC has apparently decided it is easier to lean on its corporate friends to try to limit FinancialWire's distribution.
Easier perhaps. Fair? Moral? Ethical? Legal?
These will be the issues further to be explored.
FinancialWire is a member of the Online News A Logged
"In consideration for $10,000,000 US Dollars and two hundred billion (200,000,000,000) restricted shares of SGGM St. George Metals,Inc. will purchase a 5% unencumbered and absolute interest in any and all mineral claims held by CMKM Diamonds, Inc. CMKM Diamonds, Inc. is one of the largest holders of claims in the Fort A La Corne Saskatchewan diamond exploration fields which include DeBeers and Kensington
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It was a willy...ard press release not from either company. It is just restating a previous agreement between the two companies. Not sure it actually happened coming from that source. But Today should have been the final payment.
-------------------- Invest with your brain not with your heart.
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posted
IMO the money will pay some of the legal bills, wonder what will happen to the shares? At one time there was a rumor that they were to be distributed as another dividend, but that may have been just a rumor, or may have been changed by now.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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posted
FINALLY! Dateline to Air Stockgate Segment April 10th by Mark Faulk After over a year of promises, postponements, and delays, Dateline finally confirmed today that they will air their report on the stock market scandal on Sunday, April 10th, at 7 pm ET. The segment, dealing with the scandal dubbed "Stockgate", has long been anticipated by advocates pushing for reform in the stock market, and was first confirmed by The Faulking Truth last June. This is an excerpt from that article:
"It's been called the biggest financial scandal in the history of the world, with incurred losses estimated by some experts at well over $1 trillion dollars. It's a scandal that involves over 1,200 offshore hedge funds, over 150 US brokers, and has already bankrupted over 7,000 US companies in the past six years. According to many of the lawsuits filed to date, the crooks include terrorist groups and organized crime syndicates. Sources say that this scandal, which involves an intricate system of selling electronic counterfeit shares of stock in an effort to destroy the market value of small publically traded companies by utilizing a method known as "naked short selling", will eventually implicate almost every major broker in America, all of the governing bodies that oversee trading, and will extend into Canada and Europe."
Sources at the time told us that the Dateline story contained information that would "blow the roof off of this scandal", and that Dateline had already filmed over 100 hours of explosive footage, with interviews from class action attorneys John O'Quinn (of the Houston law firm of O’Quinn, Laminack and Pirtle), and Wes Christian (of Christian, Smith, Wukoson and Jewell), who along with the law firm of Heard, Robins, Cloud, Lubel & Greenwood, who are representing clients in dozens of lawsuits filed against the SEC, the DTCC, and several of the country's largest brokerage firms.
"What's Up With The SEC?"
Since that time, we have learned that officials from both the SEC and DTCC have been interviewed by Dateline, and numerous other recent developments have (at long last) triggered a frenzy of media coverage over the past few weeks. In addition to that, ads have been taken out in several major newspapers, and the roles of hedge funds, who specialize in shorting stocks, have been brought into question in other fraudulent schemes as well. In fact, in an ad in today's op-ed section of the New York Times (March 28, 2005), in an editorial entitled "What's Up With The SEC?" the conservative Washington Legal Foundation ( http: //www.wlf .org/ ), blasts the SEC for "sitting on several complaints of misconduct filed by the Washington Legal Foundation, and supported by the U.S. Chamber of Commerce, detailing examples of questionable stock manipulation by short sellers and class action attorneys". According to WLF Chairman Daniel J. Popeo, in one case, information about a class action lawsuit was leaked to short sellers who, in turn, made a huge profit by shorting the stock before the information was made public. Popeo also claims that "in other cases, short sellers and trial lawyers dish dirt about a targeted company to financial reporters, analysts, and regulators, and the damaging news sends the stock price plummeting, thereby forcing the company to settle. Short sellers then reap the profit when the stock drops."
"If I Only Had a Hedge Fund"
In a related development today, the New York Times online edition ran an article about the incredible proliferation of hedge funds today entitled "If I Only Had a Hedge Fund", in which they said that the number of hedge funds created since 1999 has increased by 209%, with 1,406 new hedge funds introduced in 2004 alone. A recent study released by Credit Suisse Boston said that hedge funds now account for half of all stock market activity, and that they now manage a staggering $1 trillion in funds. Why are managers tripping over each other to start new hedge funds? Because instead of the small fixed percentage that they get by managing traditional funds (sometimes as low as 1%), they instead 1% plus 20% of any profit the hedge fund generates, which has made many of the hedge fund managers instant multi-millionaires. In fact, according to a survey in Institutional Investor magazine, the 25 highest paid hedge fund managers earned an average of $250 million in 2003. To read the New York Times article, go to: http: //www.nytimes .com/2005/03/27/business/yourmoney/27hedge .html?
With those kinds of profits to be made, it is any wonder that the SEC, the DTCC, brokers, and hedge fund managers have begun to circle the wagons? Every time a share trades hands, every one of them gets a piece of the action. Even legitimate hedge funds, those who don't engage in naked short selling, profit when their corrupt counterparts drive down the price of stocks through illegal naked short selling. And the SEC, NASD, and DTCC take their cut for every share that is bought and sold, whether that share is real or counterfeit.
If the SEC needs a smoking gun, they need only to take a close look at Global Links Corp (OTCBB: GLKCE), where one investor recently bought 100% of the issued stock AND another investor bought 15% of the same stock, only to watch hundreds of millions of phantom shares continue to be bought and sold. While the SEC has ignored this curious case, Congress hasn't. Senator Robert Bennett cited the Global Links story (as first reported by Financial Wire) on March 9th when he grilled SEC Chairman William Donaldson about the naked short selling scandal, "this article just last Friday in a national publication indicates that people are still selling short shares that they don't have and clearly are never gonna acquire." This stock is merely a microcosm of the larger problem that pervades the stock market system, and serves to illustrate how pervasive the fraud really is.
It is vitally important that the Dateline story gets the attention it deserves. We can only hope that their report tells the real story of this scandal, and that Congress and the major media will join us in our mission to, at long last, restore trust and credibility to our stock markets, so that honest investors can once again invest their hard-earned money and have a chance to achieve the American Dream.
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Corporation Actions for "CMKM DIAMONDS INC." Sort by File Date Document Number Action Type descendingascending order
1 - 31 of 31 actions Actions\Amendments
Action Type: Resident Agent Change Document Number: 20050082053-75 # of Pages: 1 File Date: 03/25/2005 Effective Date: (No Notes for this action)
Action Type: Amendment Document Number: C9852-2002-012 # of Pages: 1 File Date: 08/18/2004 Effective Date: CAPITAL STOCK WAS 500,000,000,000 @ .0001= 50,000,000 MDC ACTUAL STOCK IS: 800,000,000,000 SHARES @ .0001= 80,000,000 1 PG. ($35,000) MDC
Action Type: Amendment Document Number: C9852-2002-011 # of Pages: 1 File Date: 07/13/2004 Effective Date: CERTIFICATE OF AMENDMENT FILED AMENDING THE PAR VALUE FROM .001 TO .0001, THE CHANGE OF PAR VAULE DUE TO A TYPO IN THE ORIGINAL ARTICLES FILED DEC. 26, 2002. (1PG)($175) AJW
Action Type: Annual List Document Number: C9852-2002-002 # of Pages: 1 File Date: 04/21/2004 Effective Date: List of Officers for 2004 to 2005
Action Type: Amendment Document Number: C9852-2002-010 # of Pages: 1 File Date: 03/01/2004 Effective Date: CAPITAL STOCK WAS 200,000,000,000 @.001 KAB 1 PG. $35,000 KAB ACTUAL SHARES IS 500,000,000,000 @ .001 = 500,000,000 KAB
posted
You guys are still in LALALA land. Stockgate does not have a dammed thing to do with this stock. Now if you told me that it was "Urbangate" now that I would believe, there "lies" the problem with this stock
[ March 29, 2005, 11:31: Message edited by: Doctoall ]
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow
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posted
CMKM Getting Corporate House in Order. Looks like some of the "accounting problems" goes back to Cybermark and were not under Urban's watch.
Legal when you buy a shell it "ALL" comes under your watch, you become responsible for the company, dammed stupid to buy a company with problems and then say it was not under your watch. It was Urban's job to find the problems and fix them and that he did not do. His watch is full of crap.
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow
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posted
i'll tell you what is interesting as far as stockgate goes... GLKCE... the filings are all very contradictory, and since the Senator got involved i think everybody is afraid to do anything..
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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posted
just a normal cmkx volume day penny...legel, the o/s started to be increased under UC in july of 2003 it was 500 million its now 703 billion. thats all, 100% on UC's back. nobody else is to blame. in my opinion thats the only problem with cmkx. all start up mining companies are very risky & the o/s ends up high. look at GWGO, its over 7 billion but it supports a .0013 pps & has run much higher & will run much higher again very soon probably. but no company not even naked shorted companies can justify a 703 billion o/s. thats doing to the shareholder what naked shorting does only on the books. if cmkx is grossly naked shorted then the shareholders got the shaft from 2 directions, the company & the market corruption.. truth is i'd be suprised if 80% of the stocks we start threads about on allstocks weren't naked shorted to some degree. 1 of the big allstocks fav's is probably 1 of the most shorted out there, qbid. the o/s is high & its fighting long odds getting serious cable coverage. the perfect naked short stock. i too hope dateline opens the doors wide. i hope they are honest & dont pull punches but i have my concerns there. as the article states lawyers are involved & conservative think tanks are pushing for change. NBC will support left leaning lawyers before helping right leaning groups. i'm guessing it will be watered down but its a start in getting the public aware, not just penny & small cap traders.
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted
Hey legal, what you think of UC's new house??? Wonder whose money he used to buy that??? Give ya 3 guesses and the first two dont count !!!!!!!!!!!
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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The Green Baron Report for the past few days has been speaking with John Martin, major CMKX shareholder, and his Attorney Bill Frizzell from The Frizzell Law Firm of Smith County, Texas, who Mr. Martin has retained to file a Motion to Intervene on behalf of CMKX shareholders regarding the current SEC hearing involving CMKM Diamonds, Inc. The Green Baron Report views this as a significant development for all CMKX shareholders.
In our ongoing effort to provide our members with the latest and most accurate information available we have scheduled a webcast for tomorrow afternoon, Wednesday, March 30th with Attorney Bill Frizzell which we will make available to the public shortly afterwards on our website www.*************.com
The Green Baron will be releasing a Special Update tomorrow afternoon that will include information about the webcast with Mr. Frizzell as well as information about how CMKX shareholders can join in the Motion to Intervene as formal participants. The Special Update will also include information and links to the Frizzell Law Firm's website where interested parties can download a Participation Agreement allowing shareholders to join in the Motion to Intervene. Our understanding is the cost per shareholder will be a $25 one-time filing fee.
Although The Green Baron is still confident that CMKM Diamonds could successfully resolve their current matters with the SEC before any legal proceedings may be necessary, we still view the representation of the shareholders by Mr. Frizzell and his law firm as an important safety net and very positive development for all CMKX shareholders.
There has been much speculation regarding tender offers involving CMKX. We here at The Green Baron have the utmost confidence in the SEC and CMKM Diamonds management to diligently protect the shareholders interests, we also remind our members that it would be very much in our best interest if any tender offers, or similar negotiations taking place, did so with the shareholders having our legal representation at the table looking out for our interests.
Evergreen Marketing, Inc. and The Green Baron Report would like to state that we have received no compensation from any of the parties involved in this matter. Including CMKM Diamonds, Inc., John Martin, or The Frizzell Law Firm. Our involvement is strictly as shareholders and in the best interests of our members.
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posted
Like I said before, who the hell would be interested in making a tender offer for CMKX besides UC and cohorts? And if they were interested, it would most likely be in another effort to deceive and bilk the public.
As far as the Green Baron is concerned, I doubt if he has changed his colors very much. He sure did pump the hell out of CMKX and everything UC supposedly did or said. I do not trust him any more than I do UC.
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posted
With the thousands of koolaid drinkers out there how much do you think this so called law firm make at 25 dollars a pop. lol. No stopping how they can milk these people out of there money.
-------------------- Invest with your brain not with your heart.
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posted
as i stated a few days ago shutting cmkx down is the wrong thing to do. first it lets UC off the hook for past wrong doing & allows him to move everything to CIM without the truth ever seeing the light of day. second with 703 billion shares in the o/s it means there are a great number of investors both large & small that lose everything. it doesn't hurt a few hundred it hurts thousands. personally i wouldn't mind seeing a few of the worst pumpers getting hurt. making up those wild full of crap theories & dumping that garbage all over the net sucking in less informed investors or less wary investors deserves some sort of punishment & losing their investment if they even have 1 is the only way to hurt them but for the sake of the hopeful it wouldn't be fair. i'd rather see UC made to come clean on all the back door dealings. like shipping $1 million to his brother for worthless zinc claims. claims that at least 4 differant companies surveyed in detail & found nothing worth mining. do you really think that nevada minerals would have sold those shares back if they had any idea they would 1 day have any real value? 75 billion shares at less then .0001 per share & they lost their claims to boot. the only fair thing for shareholders is to force UC to report every dealing & force a complete accounting of all moneys. force a complete report on any mining activities if there are any even if its just drilling holes & what has been found. then maybe after an r/s from hell new management can finally start doing as it should & concentrate on finding out if any of those claims have value & at some point in the future maybe ppl can get some of their money back. but UC has to be exposed & removed. i don't know if mahoo is the guy but we have found out more real info in the month he has been around then in the last at least 20 months.
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted
Well, I don't think the SEC will see it this way. They will see several options for investors one of which is you have to April 25th to get out with some of your money. Also they will say you have the right to sue UC, of course we know that the lawyers are the only ones to benefit from that. But who knows after the investigation there may be criminal charges. It still hasn't completely ended yet. Heres a post about the 3rd party intervention not sure if his facts are right.
By: ckt64 29 Mar 2005, 11:16 PM EST
Just a note regarding the law firm seeking a motion to intervene on behalf of certain CMKX shareholders in an SEC enforcement action...the law is fairly clear that the SEC can and most likely will deny the motion of a 3rd party intervenor under Section 21 (g) of the 1934 Act. The lawyer or his representative would be unable to bring forward any information or requests of the shareholders in this matter. Furthermore, this attorney and his representative who will be seeking this motion will have received fees from shareholders to proceed with a motion to intervene that will almost surely be denied.
-------------------- Invest with your brain not with your heart.
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posted
Ya know, their is a man around here named,,lets see now,, could it be Wallace, that called this mess from the git go....I remember last year when people attacked him like rabid dogs....Don't know what else to say, I guess I just said it all about this whole damn thing.
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posted
I'm sorry Bill but I've gotta disagree with you. Assuming this company is what we think it is, they absolutely should be shut down, lock, stock and barrel and for a lot of the reasons you specified. If we're right, this is a company that has issued 700+ billion shares into the market and has nothing to show for it exept one dilapidaded drilling rig that was last seen in a dump. They have bilked investors out of millions of dollars for personal gain yet they should be allowed to continue? When the SEC refers to protecting "investors", I don't believe they're referring to just shareholders rather everyone who might decide to invest in this company or the next incarnation of it in the future. Why let it continue? Enough damage has been done and it should not be allowed to go on. Did you happen to see the post earlier tonight about Urbans new 3.5 million dollar house? Rendall Williams, the head of UCAD just closed on a 1.8 million dollar one also. You and I paid for a portion of those homes and it's a slap in the face to anyone who invested in this company.
If they do shut them down, that in and of itself should be enough to bring on lawsuits against them, as it should be. A modicum of guilt will be enough to get the ball rolling. If these people have done what we believe they have, they deserve to have every last personal asset stripped away from them. Will it happen? Probably not. They'll walk away with a huge fine that they can easily afford and live the easy life off of the backs of people like me and you, hopefully to never be heard from again.
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posted
well UP, i dont disagree. cmkx does need to be shut down. but i'll bet if UC isn't forced to disclose every deal all claims will be moved into CIM & it starts all over again. if shut down UC is shut up, just what he is begging for. i'll bet mahoo has shares of CIM now. look at that last pr. you ever hear of a company just say opps, sorry we did not keep records..? do you think the faithful cult will blame anything on UC if shut down? not a chance. i dont believe the SEC will force UC to fess up, i'm sure it will be shut down. UC will then either put everything into CIM or sell all claims to another skunk to pay the fines the SEC will levee. either way it will start up all over again.
-------------------- "keep your stick on the ice & your cup firmly in place"
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posted
If the SEC has any teeth, they don't appear to use them to their fullest extent. Therefore, I do not think the SEC will shut them down....could be wrong though. Further, if the MMs and/or Brokers stand to be hurt, it's just a slap on the wrist for them and the SEC won't push the closing down pursuit if they stand to experience damage. Just remember who controls ALL the markets....MEMBER FIRMS!!!
What will probably shut them down are criminal courts and/or just plain bad business management (could be designed). They have been going nowhere and have no where to go....no matter what is said about huge claims.
I think Bill mentioned $1 mil going to UC's brother. Is that the same $1 mil that went to UC's son at CIM? If he can get away with it, and CIM ends up being some sort of survivor, UC will try the same all over again. Problem for him there is the fact that his name is written in vain all over the market's walls.
Bottom line for me is that I think he should be shut down and go to prison where he belongs. Shareholders will have to take their losses as usual.
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posted
Just a clarification re "MEMBER FIRMS" of which some may not be aware. Member Firms are the big brokerage firms the run and control the major exchanges/markets. It's a club of which Grasso was a part and a tool.
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posted
I don't think we'll ever hear from him again. My hunch is he's going to "retire" and live a very comfortable life. The stage is already being set for that with the news of his stroke a few months back. We're hearing less and less from Urban and more and more from Bob Maheau. It looks like he's going to be the paid fall guy here. This mess will finally go away under his watch and he'll be the one people scream about while they praise Urban. Beautiful, isnt it?
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posted
I think the fines will be huge and he of course will try to advoid them but if he tried and sell the company to CIM then the SEC would freeze the accounts and take everything. I really don't think he will get away with just transferring assets to another company and starting over again.
-------------------- Invest with your brain not with your heart.
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Never thought about the "fall guy" scenario. Wish I had. Kudos!!!
Ric,
Questionable as to the SEC freezing accounts and taking everything. May be able to freeze, but don't think they can "take"....could be wrong though.
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quote:Originally posted by ed19363: Hey legal, what you think of UC's new house??? Wonder whose money he used to buy that??? Give ya 3 guesses and the first two dont count !!!!!!!!!!!
Looks like the home of an empire builder to me.
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quote:Originally posted by ed19363: Hey legal, what you think of UC's new house??? Wonder whose money he used to buy that??? Give ya 3 guesses and the first two dont count !!!!!!!!!!!
Looks like the home of an empire builder to me.
Yep, that's what it is.....but it was paid for with YOUR money...guess that makes you feel good. Personally, I'd like to see the lying #*^$&&&&*@ locked up......
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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