Recall from the link in the referenced post that Alain Chalem, who was murdered last week along with Maier Lehmann in Colt's Neck, NJ, was a major figure in DTOX. Two other "interesting" names have surfaced: Terry Marsh and Barry Witz. Apparently they were the ones who took the shell provided by Joseph Dunn and got it up and running.
To learn more about Marsh and Witz start reading here: Message 11790699. If you are pressed for time, then just read this: Message 11790720. As the latter piece is quite long, here's a snippet:
Monday, August 25, 1997
Buyer, Beware!
Dizzying deals raise questions about California's fast-growing Osicom Technologies
By Bill Alpert
Behind the Veil of Secrecy
Just a few years ago, Barry Witz and Parvinder Chadha were ponytailed promoters of penny stocks. By early this year, though, the ponytails were gone and the duo had transformed Osicom Technologies Inc., into one of California's fastest-growing companies, with $120 million in annual revenues. Chadha was being hailed as a technology visionary, and he boasted that Osicom had better technology for computer networking than its far-larger rival, Cisco Systems. Witz and Chadha also liked to note that Osicom had won multimillion-dollar orders to supply equipment to the likes of MCI Communications, GTE and NASA.
But close scrutiny of Chadha, who is Osicom's chief executive, and Witz, who until June served as an Osicom director, reveals a series of deals that have left investors tens of millions of dollars poorer over the past five years. Neither Witz nor Chadha has been charged by regulators or prosecutors with benefiting at the expense of other shareholders. But both are subjects of active criminal investigations on both sides of the Atlantic because of the pair's extensive dealings with one John J. O'Carroll, whom British investigators describe as a henchman for a guy who's been convicted of laundering $136 million for the Cali drug cartel. On top of that, a variety of firms run by Witz and Chadha, including Saratoga Brands, Builders Warehouse and Osicom, have failed to tell their shareholders that Witz was named an unindicted co-conspirator in a fraud prosecution of stock promoters linked to the Mafia.
The very first stock deal that brought Witz and Chadha together five years ago is still the object of an enforcement suit by the Securities and Exchange Commission as well as a federal criminal prosecution and two class-action suits by disappointed investors. That 1992 deal concerned Scorpion Technologies, a software firm that engaged in a massive fraud, according to testimony by former employees.
... etc.
- Jeff |
