What Did They Know and When Did They Know it? ADOT and the Wolfson Clan
athena-sword.org
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What Did They Know and When Did They Know it?
ADOT and the Wolfson Clan
Is the decay of fraud selective? When a company exposes itself to known fraudsters can it not become infected with the rot of greed and deception? And, even more thought-provoking: Can fraudsters operate in two modes? Deceptive and Honest.
I pose these questions because recently on the Advanced Optics Raging Bull discussion board an ADOT posting agent insisted that ADOT had severed ties with the Wolfson organization "after the fact was known". The poster clearly revealed himself as insider when he defended ADOT against my statements about the company's affiliation with Wolfson:
By: kirtland0
12 Jun 2005, 02:47 PM EDT
Msg. 162984 of 163084
(This msg. is a reply to 162981 by hestia17.)
Jump to msg. #
The ties with the Wolfson Organization were severed after the fact was known!
why won't you admit that?
Well despite poster Kirtland's assertions regarding Wolfson that ADOT did not have financial relations with that man! The following evidence seems to be as obvious as a stain on a cocktail dress. The obvious question is exactly how this poster could make such a definitive statement about ties with the Wolfson organization? And, if as the poster insists in another post, "ADOT is as innocent as a newborn baby" why would this continually be such a hot-button topic. Indeed, hot enough for ADOT to sue me in three states.
With Deep Throat and Watergate in the news recently, the question that forced Nixon's resignation just before he was impeached seems appropriate to ADOT.
What did they know and when did they know it?
Let's look at a few facts. The following are statements regarding payment of stock to Allen Wolfson and his companies for various services. First. it appears Wolfson's name is deliberately misspelled, perhaps to make him look like a different individual. I guess because these filings were pre-Sarbanes-Oxley the SEC has no problem with this little apparent deception.
From ADOT's 7/13/2001 SB2
Under the Heading "Common Stock Issued to:" ADOT lists an "Alan Wolf" who just happens to be the "principal" of a company associated with felon Allen Wolfson, and Hunter Adams.
1) Avalon Financial Services is an investment management firm and is a sophisticated, accredited investor.
Hunter Adams is the principal. An executive officer of Advanced Optics has known him since August 1999. He has a net worth in excess of $2 million and is an astute and experienced investor.
2) AZ Professional Consultants is a brokerage firm and a sophisticated, accredited investor.
An executive officer of Advanced Optics has known Alan Wolf the principal since June 1999. He is an individual with a net worth in excess of $2 million and is an astute and experienced professional investor.
Adams received 1,073,000 shares worth $230,716 on dates in October and November 1999 and "Wolf" received 1,000,000 shares worth $151,000.00 on several dates in August 1999.
Later in the same filing Allen Wolfson receives stock for "market research".
21) Hudson Consulting Group is an investment professional and a sophisticated accredited investor.
An executive officer of Advanced Optics has known Mr. Allen Wolfson, the principal, since May 1999. He has a net worth that exceeds $3 million.
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Date Shares Price/Share Value of Services
Description of Services
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7/8/1999 500,000 $0.09 $11,250
Market Research
10/7/1999 166,667 $0.34 $39,666
Market Research
1/13/2000 166,667 $1.16 $135,333
Market Research
3/24/2000 166,666 $1.25 $145,832
Market Research
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Total 1,000,000 $332,083
In an SB filed a few months later on 9-21-01 it seems that "Mr. Wolf" is now "Alan Wolfson...closer, but still not quite right.
55) AZ Professional Consultants is a brokerage firm and a sophisticated, accredited investor.An executive officer of Advanced Optics has known Alan Wolfson the principal since June 1999. He is an individual with a net worth in excess of $2 million and is an astute and experienced professional investor.
This time Wolfson receives 250,000 shares worth $67,500.00 for "professional consulting in August of 1999. This would be the same time period that Alan Wolf of AZ received stock.
Now, compare the late 1999 time frame that ADOT associated with Adams and Wolfson and awarded them stock with this CNN headline newstory from June 14, 2001 on one of the largest securities and organized crime busts ever--Operation Uptick.
June 14, 2000: 6:23 p.m. ET
Feds nab 120 for fraud
Mob members, securities dealers, charged with bilking victims of more than $50 million
NEW YORK (CNNfn) - In what authorities are calling the largest securities-fraud bust in U.S. history, 120 defendants -- including members of all five New York City Mafia crime families and the treasurer of New York City's police-detectives pension fund -- were indicted Wednesday for allegedly participating in a securities-fraud scheme involving racketeering and physical violence and costing investors $50 million. . .
FBI and SEC officials said this case represents an emerging trend of the New York crime families banding together to infiltrate the securities markets. However, they pointed out that they have not infiltrated the mainstream securities markets, but a small portion of the low-price securities, or "micro-cap," market. . .
One of the defendants, Allen Wolfson, a Salt Lake City, Utah securities dealer, allegedly bribed brokers to promote the shares of such small cap companies as Beautymerchant.com, Learner's World Inc., Rollerball International Inc., Healthwatch Inc. and HYTK Industries Inc. Wolfson and his associates received at least $7 million in profits from that scheme."
So, it seems that while Wolfson was bilking investors out of $7 million with other micro-cap companies he was operating in innocent baby mode with ADOT. Also nabbed in Operation Uptick was Hunter Adams, according to this article in USA Today.
$50M 'pump-and-dump' scam nets 20 arrests
By Greg Farrell, USA TODAY
NEW YORK — Mob influence on Wall Street might be waning.
The FBI arrested 20 men Thursday morning on charges of running a massive pump-and-dump scheme that defrauded thousands of investors out of more than $50 million. Two alleged ringleaders — Hunter Adams and Michael Reiter — are said to be associates of the Gambino organized crime family. ."
Adams too must have been operating in innocent baby mode when he received stock from ADOT while he and his Gambino crime family associates were bilking other investors for more than $50 million.
It is really curious that these dates and affiliations seem to have no interest to the SEC, DOJ or FBI and that ADOT can continue to insist that it is the "victim" of bashers. Or, as ADOT pumper Kirtland says:
By: kirtland0
12 Jun 2005, 03:16 AM EDT
Msg. 162977 of 163088
Jump to msg. #
hestia thinks she has the goods
against ADOT but yet can't come right out
and say they are committing fraud or whatever
yet she rags endlessly against some of the people that have been in ADOT's employ
yet the courts are convinced otherwise?
who do you believe?
people, this ADOT is WAY! undervalued!
who posted that .0037 pps is right on in their calculations!
uncertainty and short selling is crippling OUR! company
not lack of ingenuity or fortitude!
As for more evidence of what ADOT knew or should have known and when they knew it, certainly after the Operation Uptick bust ADOT should have had a clue that Allen Wolfson might be just a tad bit crooked. However, in an SB2 filed 12/07/01 Allen Wolfson in his "Wolf" identity is listed along with his company Feng Shui Consulting as receiving $115,468.13 worth of stock for "professional consulting in June and August of 2001. Not only that, ADOT would use Feng Shui as the registrant for Biomoda in June of 2002 when it filed Biomoda's first SB2.
Severed all ties? Doesn't sound like it to me. Not only that, poster Kirtland 's "Way! undervalued" sure seems like a solicitation to buy from what certainly seems to be an insider, and yet....nothing. The SEC just looks the other way for more egregious cases like Martha Stewart.
Hey, what about Michael Jackson? Maybe he engaged in some bizarre stock transactions.
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