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Naxos Resources Ltd - Street Wire
Naxos violator Jimmy John shows up on CEO's bills
Naxos Resources Ltd NAXOF
Shares issued 31,678,737
Mon 17 Apr 2000 Street Wire
by Brent Mudry
With Naxos Resources set for a follow-up special meeting on Friday to
receive and discuss the company's financials, shareholders may get a chance
to find out who is paying the legal bills of Father Gregory Ofiesh, the
company's president and chief executive.
In an account summary filed April 10 in the Supreme Court of British
Columbia, Vancouver law firm McRae Holmes & King claims Father Ofiesh, of
the St. Nicholas Orthodox Church in San Francisco, or whoever pays his
bills, has not paid the full $24,739 in legal fees invoiced from October to
March.
The invoices, marked "Re: Naxos Resources," were sent to Father Ofiesh,
care of securities violator Jimmy John of Victoria, the company's disgraced
former president, CEO and chairman. A copy of the invoices was also sent to
Father Ofiesh at a San Francisco address.
Father Ofiesh could not be reached for comment on Monday, while Mr. John
does not have a listed number in the Victoria area.
The involvement of Mr. John is particularly intriguing, as the Alberta
Securities Commission banned him for 10 years and fined him $84,000 in
investigation and hearing costs last May for issuing "misleading" press
releases hyping the company's questionable Franklin Lake flagship property
in California and consistently filing late insider reports.
The court documents show Mr. John was fairly active on the Naxos file last
fall. On Oct. 5, four days after McRae Holmes King requested Russell &
DuMoulin, another Vancouver law firm, transfer the Father Ofiesh file,
lawyer Robert Holmes met with Father Gregory and the controversial Victora
stock promoter.
The next day, while McRae Holmes King was researching the law regarding
"contribution by others to proxy campaign," the law firm had another
conference with its client, presumably Father Ofiesh, and Mr. John. Three
weeks later, on Oct. 28, one of the firm's lawyers met again with Mr. John.
The court-filed documents also show the Victoria securities violator had at
least five phone consultations and one meeting with McRae Holmes King in
early November, leading up to the Nov. 3 settlement agreement between
Father Ofiesh and Naxos's board. Under the lawyered agreement, Robert
Gardner stayed on as the company's president until the company's annual
meeting on March 24, when Father Ofiesh gained control of the board.
Mr. John kept contact with Father Ofiesh's law firm until Jan. 11, the last
billing entry noting the securities violator's involvement with the file.
The continued involvement between Father Ofiesh and Mr. John may not be too
much of a surprise, as Mr. John's wife and former director Anthony Moilliet
were revealed as backers of the San Francisco-based religious man a year
ago.
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