Welcome, Guest. Please login or register.

Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Topics - Deez

Pages: [1] 2 3 ... 38
SEC Microcap Fraud-Fighting Initiative Expels 379 Dormant Shell Companies to Protect Investors From Potential Scams

Massive Trading Suspension Is Largest in Agency History

Washington, D.C., May 14, 2012 — The Securities and Exchange Commission today suspended trading in the securities of 379 dormant companies before they could be hijacked by fraudsters and used to harm investors through reverse mergers or pump-and-dump schemes. The trading suspension marks the most companies ever suspended in a single day by the agency as it ramps up its crackdown against fraud involving microcap shell companies that are dormant and delinquent in their public disclosures.

Microcap companies typically have limited assets and low-priced stock that trades in low volumes. An initiative tabbed Operation Shell-Expel by the SEC's Microcap Fraud Working Group utilized various agency resources including the enhanced intelligence technology of the Enforcement Division's Office of Market Intelligence to scrutinize microcap stocks in the markets nationwide and identify clearly dormant shell companies in 32 states and six foreign countries that were ripe for potential fraud.

"Empty shell companies are to stock manipulators and pump-and-dump schemers what guns are to bank robbers — the tools by which they ply their illegal trade," said Robert Khuzami, Director of the SEC's Division of Enforcement. "This massive trading suspension unmasks these empty shell companies and deprives unscrupulous scam artists of the opportunity to profit at the expense of unsuspecting retail investors."

Thomas Sporkin, Director of the SEC's Office of Market Intelligence, added, "It's critical to assess risks to investors in the capital markets and, through strategic planning, develop ways to neutralize them. We were able to conduct a detailed review of the microcap issuers quoted in the over-the-counter market and cull out these high-risk shell companies."

The SEC's previously largest trading suspension was an order in September 2005 that involved 39 companies. The federal securities laws allow the SEC to suspend trading in any stock for up to 10 business days. Subject to certain exceptions and exemptions, once a company is suspended from trading, it cannot be quoted again until it provides updated information including accurate financial statements.

Pump-and-dump schemes are among the most common types of fraud involving microcap companies. Perpetrators will tout a thinly-traded microcap stock through false and misleading statements about the company to the marketplace. After purchasing low and pumping the stock price higher by creating the appearance of market activity, they dump the stock to make huge profits by selling it into the market at the higher price.

The existence of empty shell companies can be a financial boon to stock manipulators who will pay as much as $750,000 to assume control of the company in order to pump and dump the stock for illegal proceeds to the detriment of investors. But with this trading suspension's obligation to provide updated financial information, these shell companies have been rendered essentially worthless and useless to scam artists.

"This mass trading suspension is an effective and novel way for the SEC to neutralize potential threats to investors," said Chris Ehrman, Co-National Coordinator of the SEC's Microcap Fraud Working Group. "With the ability to leverage staff expertise throughout the agency's offices and divisions, the Working Group is uniquely positioned to take on risk-based matters like these and focus resources where they are needed most."

This SEC enforcement effort has been led by Mr. Ehrman, Robert Bernstein, Jessica P. Regan, Leigh Barrett, and Megan Alcorn in the Office of Market Intelligence along with Microcap Fraud Working Group staff from each of the SEC's regional offices: Tanya Beard, David Berman, Sharon Binger, Melissa Buckhalter-Honore, Lisa Cuifolo, Tracy Davis, Elisha Frank, Kurt Gottschall, Lucy Graetz, Jennifer Hieb, C.J. Kerstetter, Victoria Levin, Aaron Lipson, Michael Paley, Farolito Parco, Jonathan Scott, and Lauchlan Wash.

The SEC appreciates the assistance and cooperation of the Federal Bureau of Investigation's Economic Crimes Unit.

Additional Materials:

Three Charged in Alleged Grifco International, Inc. Stock Fraud

HOUSTON - Three men have been indicted for allegedly defrauding investors who purchased stock from 2004 until 2007 in a publicly-traded company called Grifco International Inc., United States Attorney Jose Angel Moreno and FBI Special Agent in Charge Richard Powers announced today.

Evan 'Nick' Jarvis, 36, and Jim Dial, 53, both of Houston, and Alex Ellerman, 35, of Chicago, were charged with conspiracy and wire fraud in a eight-count indictment returned by a grand jury on Wednesday, March 3, 2010. Jarvis surrendered himself to federal authorities on Wednesday, March 10, 2010, and has been ordered release on a $100,000 bond. This morning, Dial surrendered himself to federal authorities. He appeared before a U.S. Magistrate Judge today and has also been ordered released on a $100,000 bond. The whereabouts of the third defendant, Ellerman, is presently unknown. A warrant remains outstanding for his arrest. Anyone having information regarding the whereabouts of Ellerman, a white male with blue eyes and brown hair standing 5'11" tall and weighing approximately 200 pounds, is asked to contact the FBI Houston office via telephone number (713) 693-5000 or via e-mail at Houston.texas@ic.fbi.gov or if outside the U.S., contact can be made with the nearest American Embassy or Consulate. Ellerman's photo is below.

The FBI's two-year investigative effort with assistance from the U.S. Securities and Exchange Commission and the Harris County District Attorney’s Office led to the indictment which alleges that between 2004 and 2007 Jarvis, Dial, and Ellerman issued shares of Grifco stock (GFCI) to themselves, disseminated false and misleading information about the company in an effort to increase the price of the stock and then sold the overpriced stock to unsuspecting investors in the public market place. As a result of the fraud, the indictment alleges Jarvis received $2,096,239; Dial received $1,659,198 and Ellerman received $1,061,205.

All three defendants are charged with conspiracy and six counts of wire fraud. Ellerman is also accused of obstructing a United States Securities and Exchange Commission investigation of Grifco by deleting information from a computer that was subject to a subpoena on Aug. 12, 2008.

The conspiracy charge carries a maximum statutory penalty of five years' imprisonment, upon conviction. Each of the six wire fraud counts carries a maximum statutory penalty of 20 years' imprisonment. The obstruction of justice count also carries a maximum statutory penalty of 20 years' imprisonment.

Assistant U.S. Attorney John R. Lewis will be prosecuting the case.

This law enforcement action is part of President Barack Obama's Financial Fraud Enforcement Task Force. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.


Also see allegations of fraud from John Jarvis.

HOUSTON (CN) - Three men who pumped and dumped the stock of their so-called oil services company, Grifco International, pleaded guilty to conspiring to commit wire fraud.

Alex Ellerman, 36, of Chicago, pleaded guilty Tuesday to the federal felony before Senior U.S. District Judge David Hittner.

Evan "Nick" Jarvis, 37, and Jim Dial, 54, both of Houston, pleaded guilty to the same offense on Friday, March 4.

Prosecutors say they all admitted to conspiring to enrich themselves by artificially inflating the price of their publicly traded company from 2004 through 2007.

Grifco describes itself on its website as "a leading provider of oil and gas services equipment, specializing in the conception, design, and development of tools for the coil tubing, wire line, and snubbing industry throughout the US, China, Mexico and South America."

All three men admitted knowing that Grifco issued a press release containing false information about Grifco's revenue and net income and that they willfully and knowingly profited from the false press release by selling Grifco stock.

In his plea agreement, Jarvis agreed to pay the United States the $2 million he swiped from shareholders.

All three men face a maximum of 5 years in prison, a fine of up to $250,000, and restitution. Judge Hittner set Ellerman's sentencing for June 8; Jarvis and Dial will be sentenced on June 6.

Qwoter Stock Spam News / SCAMMERS: Claude Eldridge & John Jarvis
« on: March 16, 2010, 11:31:45 PM »
This website is dedicated to making the public aware of Claude Eldridge III and John D. Jarvis.  As you read through the website, you will enter the world of these confidence men's scams.  Hopefully, this will prevent future people from falling prey to this group of individuals. They also need to be punished for the illegal activities and fraud they have committed. This effort is just one of many geared towards bringing Eldridge and Jarvis to justice.



Claude Eldridge III

AKA "Ricky Slate" (slateasset.com)

Brenda Kennie - Eldridge (Wife)
Claude Eldridge IV AKA "Ed" (Son)
Alexis Eldridge (Daughter)

Claude's current address is:

16718 FRAMPTON CT, SPRING TX 77379-7505

John D. Jarvis

AKA "Norm Watson" (formerly makealick.com)
AKA "Mike Slate (slateasset.com)

Pacific Park Investments, LLC - (Illegally converts false debt into common stock and selling illegitimate abandoned public companies.)
[As of May 6, 2010, Select group of properties of Pacific Park Investments, LLC were acquired by Advanced Lighting Solutions, Inc. (AVLS.PK) - "Oct 18, 2010 Makealick.com"]

John's current address:

5406 North Ossineke, Spring, Texas 77386


Known Associates

Evan "Nick" Jarvis - Brother (illegal activity/fraud runs in family: http://www.texasmonthly.com/2009-06-01/letterfromtomball.php, http://www.fbi.gov/houston/press-releases/2010/ho031110a.htm, http://www.fbi.gov/houston/press-releases/2011/ho030811a.htm) Sentenced to a 5-year prison sentence.

Manny J. Shulman (Boca Raton, FL) - Shell Operator. (Penny Stock Distribution Scheme: http://www.sec.gov/litigation/litreleases/2009/lr20984.htm, http://www.sec.gov/litigation/litreleases/2011/lr22157.htm)

Jim Dial (Houston, TX) - Another Shell company operator

Shaun P. Ryan

Leonard A. Marshall

Joshua Wayne Lankford ("Defrauded investors through the manipulation of the publicly traded stocks of three companies" - http://oklahomacity.fbi.gov/dojpressrel/pressrel09/oc021009.htm, http://www.fbi.gov/oklahomacity/press-releases/2010/oc032610.htm)

Tom MacKay

Coleman Flaherty


Let me give you a little background and history on Claude and John

Claude Eldridge cant seems to keep a straight story on what he has or has not done, He has said he was in insurance also that he was a tenured oil man he also has run restaurants and auto body shops. What the truth is I am not even sure that he knows - in reality he is whatever he needs to be to get your money. I have a private Investigator looking into his background and for you readers that know what he has really done feel free to email me your known details.

John "D" Jarvis other than running the public shell game and writing up false press releases he owns the Tomball Bowling Center at 14435 FM - 2920, Tomball, Tx 77377. He has also been involved in a number of legal situations for his activities in his rip off game.




I currently hold judgments against Claude and Guardian Angel group for over $230,000 and growing daily.

In the coming days I will add more details about each player and the fraud they have committed. I will include the details about their "deceptive" business practices all available public information about them and their families their assests as well as known associates and anything else I can find to make sure these people never steal from anyone again.


Press Releases

Do a search on the stock symbols PBSS, USEH, LSGH, GAGI and read all of the press releases. Everything they claim to have done or owned always seems to vanish.


I sold one of Claude homes at Auction! Liens went on his primary home. It will be mine someday..


Claude issued thousands of shares of Us Energy Holdings to friends and family. Please contact the transfer agent for the records. I am sure the SEC is interested in this. If they give you any problem sending you the stock transfer reports, simply insist that you have the right to view them. Any attorney can get these for you easily.

Holladay Stock Transfer, Inc.
2939 North 67th Place
Scottsdale, Arizona 85251


These guys are trying hard to get this site removed. Of course they are, because when people do thier homework on them, they find themselves unable to separate people from their money it really hurts their lifestyle.


Here is the contact info for the SEC investigator that is handling John and Claude. If you have bought stock from any of the companies these guys ran or have any additional information about how they have defrauded people please contact him at. valentinoj@SEC.GOV


Investigation open with Houston FBI. Call and request to speak with Detective Kendall Hopper if you have anything that could assist in shedding light on their illegal activities.


These scumbag clowns are now going by the names Ricky Slate (Claude) and Mike Slate (John Jarvis) of Slate Asset Group, LLC [slateasset.com]. Up to the same stuff selling hickjacked/abandoned shells. The Slate Asset phone # 832-764-0408 it has all their companies on it- Pacific Park, Makealick, etc. I hope that you enjoy all of the money you steal from these people because in the end it will not be worth it when you’re sitting in jail, maybe you will get a cell with your scammer brother.

Don't fall for their new Slate Asset scam.


Been scammed by these fraudsters?

Leave your comment anonymously below!

You can also post it here: http://claude-eldridge-john-jarvis.blogspot.com/2010/06/post-what-you-know-about-claude-and.html?showComment=1318406120132

[ Original from: http://www.claudeeldridge.com/ ]

Computer spam king arrested on rape, molestation charges

A Slidell computer programmer, once known as the “Cajun Spam King,” was arrested by Slidell police Tuesday on charges of molesting a 14-year-old girl and raping a 15-year-old.

Slidell Police Department spokesman Capt. Kevin Foltz said police raided the business office of Ronald Scelson, 36, at 1831 Third Street and confiscated numerous computers and computer-related equipment after detectives interviewed the 14-year-old victim.

The girl said she was molested by Scelson back in February when she was at his Third Street business. She noticed that several of his computers were on pornographic sites and others were on chat room sites. She said Scelson started joking around with her and then allegedly handcuffed her and proceeded to fondle the girl.

The victim told a friend about the incident in May. The friend relayed the information to the victim’s mother who called the Slidell police May 18 and filed a report.

During the raid on Scelson’s office, police also found marijuana and drug paraphernalia. Foltz said police also got a search warrant for Scelson’s home at 2030 Teal St., and there they seized three computers.

In all, police confiscated three computer servers, three laptop computers, nine desktop computers and seven external storage devices. All of them are being examined by computer forensic investigators for evidence.

Police Chief Freddy Drennan said he was concerned about what investigators might find on the computers.

“I am hoping that we don’t have any more victims,” Drennan said.

Foltz said police don’t know why Scelson had so many computers, but they believe he was using them to view pornographic Web sites, and to communicate through various chat rooms.

Scelson has an infamous reputation in the computer world. An eighth-grade dropout, Scelson is a self-taught computer programmer, who gained notoriety for bulk mailing spam e-mails all over the world. He was known as the Cajun Spam King and bragged that he could break through any anti-spam software and that he would send 180 million junk e-mail messages every 12 hours. He testified before the U.S. Senate Commerce Committee in 2003 on spam practices, and ironically, told senators they should pass anti-spam legislation.

After Scelson was arrested, and Foltz said he was cooperating with investigators. During questioning, police learned that Scelson has raped a 15-year-old Slidell girl in April of May of 2008. The rape allegedly took place in Scelson’s old residence in the Audubon subdivision, Foltz said. The 2008 rape had never been reported to police, Foltz said, but detectives have questioned the rape victim.

In all, Scelson has been charged with molestation of a juvenile, forcible rape, possession of marijuana, possession of drug paraphernalia, and possession of a weapon while in possession of narcotics. As of press time, Scelson was still at the Slidell City Jail waiting to be transferred to the St. Tammany Parish Jail where bond will be set.

Foltz said that if convicted of all the charges, Scelson faces 62 years in prison, a fine of $20,000 or both.

Qwoter Site Discussion / New Stock Market Terms
« on: June 17, 2009, 04:01:18 PM »
About 50 new stock market and investing terms and definitions have been added to the Stock Market Dictionary.


General Discussion / The Crisis of Credit Visualized
« on: February 20, 2009, 03:22:02 PM »
The Crisis of Credit Visualized

Part 1

Part 2

Qwoter Site Discussion / Investing Carnival
« on: February 20, 2009, 12:38:08 PM »
Qwoter has been featured in The Penny Daily Carnival of Investing Strategies

- - -
Ricky presents Self-Directed IRA posted at Stock Tips, saying, "Self-directed IRA investing gives you much more freedom as to the different types of investments that you can make. By using your own self-directed IRA, you can invest in areas other than the standard stocks, bonds, and mutual funds."

General Discussion / Merry Christmas
« on: December 25, 2008, 05:28:58 AM »


Stock Market College / Submit Articles
« on: December 13, 2008, 01:31:00 AM »
We are now accepting Article Submissions to be including into the Stock Market College.

You must register for an account. For more information visit: http://www.qwoter.com/college/submit-article.html

Qwoter Stock Spam News / Spam Bounces Back
« on: December 10, 2008, 05:09:14 PM »
Four weeks after spam levels plummeted when a rogue hosting company was yanked off the Internet, junk mail volumes are again up, a researcher said Tuesday.

According to IronPort Systems Inc., spam volumes have partially recovered since the Nov. 11 takedown of McColo Corp., the California hosting firm that was pulled off the Web by its upstream service providers after security researchers presented them with overwhelming evidence that it was harboring a wide range of criminal activity. Among McColo's clients: cybercriminal groups that ran some of the biggest spam-spewing and malware-spreading botnets in the world.

Monday, approximately 94.6 billion spam messages were sent worldwide, said IronPort, which estimated Tuesday's volume at 96.8 billion. Those numbers were 62% and 63%, respectively, of the 153 billion sent four weeks ago, the day McColo went offline.

Immediately after the takedown, spam levels dropped to 64.1 billion, just 42% of the pre-McColo volume.

Spam's resurgence comes courtesy of several botnets -- some well-known, some not -- that were largely unaffected by McColo's disappearance, said Joe Stewart, director of malware research at SecureWorks Inc.

First of all, reports that the "Srizbi" and "Rustock" botnets have been resurrected are "mostly untrue," said Joe Stewart. "These botnets are not monolithic, especially Srizbi, which is in the hands of a lot of people. Each has a couple of variants [of the bot Trojan], and maybe a few thousand bots. Some have regained control of their botnets, some have not."

In fact, Srizbi and Rustock -- which were the world's largest and third-largest botnets, respectively, before Nov. 11 -- have effectively faded into the background. "It's looking like these botnet spam providers have had their customers jump ship," said Stewart.

Other botnets have stepped up to take their place.

"'Mega-D' has come back to its original strength," Stewart said, referring to another botnet that had been controlled by McColo-hosted servers. "'Cutwail' is running strong, and so is 'Kraken.' Botnets that weren't badly affected [by McColo going offline] seem to have picked up customers."

Other researchers have recently reported Mega-D's restoration. London-based Marshal8e6, for example, said yesterday that Mega-D's controllers have set up new command servers, re-established links with their compromised PCs and have resumed spamming.

The criminals who ran Srizbi and Rustock have had far less success, said SecureWorks' Stewart. "Everyone fully expected Srizbi to come back," he noted, although that's not happened. Srizbi's controllers were stymied for a while by FireEye Inc., which for a time was registering the domain names the bots would use to reconnect with new command servers. FireEye, however, was unable to finance the tactic indefinitely, and stopped.

"We're seeing Srizbi bots that are asking for [routing] domain names that aren't registered to anyone," said Stewart. He was unable to explain why the hackers had walked away from their botnets, but speculated that it was a business decision.

"The longer they left it, the more the botnet diminished," he said, noting that botnets continually lose machines as PCs are cleaned of the malware or taken out of service and replaced by new systems. "They have to make a decision, is it worth it to regain control or just build a new botnet?"

In the meantime, once-smaller players have grown in size as spammers turned to new providers. "'Xarvester' is one," said Stewart, "that has seemed to pick up a lot of traffic. It's somewhere between Mega-D and Cutwail in size, so it's moved into the top three with at least 130,000 bots."

Xarvester and another botnet, which Stewart has dubbed "Gahg," are spamming some of the same types of messages that once came from bots controlled by Srizbi's and Rustock's herders, he added.

"There aren't any new botnets, not so far," Stewart continued. But he warned that the criminals responsible for Srizbi and Rustock could very well be working on new malware and spreading it on vulnerable PCs. "That could be one reason why they haven't restored the [downed] bots, they could be in development right now."

Qwoter Site Discussion / Qwoter 2.0 Released
« on: December 06, 2008, 07:39:57 PM »
Qwoter 2.0 has now been released!

After over a year of development, we are proud to finally release a totally new Qwoter.com!

We have added tons of new features, a spiffy new design and a whole lot more.

Take a look around and please contact us with feedback.

Stock Market College / Free Stock Tips - Stock Market Advice
« on: December 06, 2008, 07:20:44 PM »
Looking for Stock Tips & Investment Advice?

Go check out the Stock Market College from Qwoter.com!

Whether you are just beginning to trade in the market, or are a professional that has been doing it for years - the Stock College will the useful information for everyone.

Here are the categories you can use:

Go check it out now and make sure to subscribe to our  rss feed or newsletter:o

Estonian ISP plays whack-a-botnet, has Srizbi on the run

Following the Mccolo shutdown, Estonian ISP Starline Web Services has delivered another blow to the Srizbi botnet by cutting Internet access to the botnet's command-and-control (C&C) servers.


Dodgy ISP McColo briefly comes online, updates botnet

McColo, home to a number of botnet command-and-control servers, came back online briefly on Saturday, allowing the controllers of the Rustock botnet to shift their operations to a data center in Russia.


Pages: [1] 2 3 ... 38