Re: Worldwide Golf (GOFR) and Legend Sports
DeMint and Amigone were part of Worldwide Golf (GOFR). As far as I can tell, it was their only Florida corporation. This legal proceeding caught my attention:
Lipson v. Worldwide Golf Resources, Inc. et al. This case was filed by Gary Lipson, the trustee of the Legends Sports, Inc. investors in an attempt to determine what if any liability the Company had as the result of the transfer by Legends Sports to the Company of certain driving ranges in the Orlando, Florida area. The suit was filed in the United States District Court, Middle District of Florida Orlando Division (File No. 98-1222-CV-18- B).
tenkwizard.com
Legend Sports was shut down by the SEC in '97 (see sec.gov. Legend's CEO, Joseph A. Monaco, was recetly nailed in court for his role in defrauding people:
In March 2000, the District Court ordered Monaco to disgorge six million dollars of the proceeds Legend Sports received through the fraudulent sale of the notes and preferred stock. Formerly based in Altamonte Springs, Florida, Legend Sports developed and operated golf entertainment facilities in central Florida between 1992 and 1998.
sec.gov
As you might also recall, Monaco was the Chairman of the Advisory Board for WAMX, a company the SEC shut down a few weeks ago in their big crackdown against organized crime. Ever wonder what the resume of a convicted stock fraud con artist looks like?
DR. JOSEPH MONACO: CHAIRMAN, ADVISORY BOARD
Dr. Monaco joined WAMEX in 1998 as the Chairman of the Board of Advisors. He is the founder of the Derivatives Research Group, which performs mathematical modeling of financial strategies and conducts trading based on these strategies.
Dr. Monaco presently holds the positions of Senior Research Scientist and Director of Operations for Industrial Polymer Research and Engineering in N.Y. and is the Head of Mathematics and Adelphi Academy as well as Science Instruction for The Center for Scholastic Advancement in N.Y. and serves with the United States Congressional Scientific Advisory Board.
Dr. Monaco is the Author of twenty-three classified papers, co-author and developer of the Monaco-Wang Operator used in applied physics, the holder of two patents involving computerized servo-functions for hybrid-electric propulsion systems and is the co-recipient of the Hughes Aircraft "Excellence in Engineering Award".
Dr. Monaco served as a Major in the United States Army 11th Special Forces (Green Berets), Special Consultant to the Department of Defense and was instrumental in the development of advanced radio image technology for the CIA and Long Range Doppler Radar Systems for the U.S Army. He is an active member of APS, ACS, AMS, NYAS, AAAS, NSF, AAS, IEEE and is a member of Who's Who in America and Who's Who in Global Business.
Dr. Monaco holds PhD's in Applied Mathematics and Theoretical Physics (Columbia), Post PhD's in Astrophysics (M.I.T. and Cambridge), MS degrees in Electrical Engineering and Physical Chemistry (Columbia) and BS degrees in Mathematics and Computer Science (Columbia and City University at BC).
freedgar.com
So, is there still Nothing to worry about with DeMint? The jury is still out but one red flag has been raised.
- Jeff |
