Frankieeeeee! ZSUN's Auditors in the news, wonder who they'll talk about next?!? "STARNET BREAKING NEWS!
gamblingmagazine.com
Starnet’s new auditors will be auditing their cooked books inside the jail!
Thanks to our private investigator, one of our readers, massive stock market frauds and pump & dump operations
involving offshore boiler rooms have been discovered. We will reveal all these major financial scandals involving
Starnet’s auditors. Starnet’s shareholders must ask that the auditors be fired right away. It won’t look very good if
they audit Starnet’s cooked books inside the jail! What a team, Starnet, the biggest crooks in the industry, having for auditors crooked auditors going to jail!
Starnet’s new auditors are also cooking the books!
The SEC is suing the crooked auditors and they should end up in jail together with Starnet’s directors and officers.
Benjamin Wong the accountant, and Margaret Carley, the wife of the top man at Starnet have always openly
admitted that Starnet was cooking the books and cheating the tax man. Benjamin Wong was even proud of it, but he
said that the auditors never checked them, so no worries!
Starnet's auditors materially overvalued assets by 91% plus Pump and dump frauds, plus much more:
THANKS for one of our readers who made his own little investigation and supplied us the information
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 42828/ May 25, 2000
ACCOUNTING AND AUDITING ENFORCEMENT
Release No. 1261/ May 25, 2000
ADMINISTRATIVE PROCEEDING
File No. 3-10210/ May 25, 2000
Proceedings Instituted Against R. Gordon Jones and Mark F. Jensen
The Commission has instituted public administrative proceedings pursuant to Rule 102(e) of the Commission's Rules
of Practice against R. Gordon Jones and Mark F. Jensen, two CPAs in Salt Lake City, Utah. Jones and Jensen are
charged with having engaged in improper professional conduct by recklessly violating professional accounting and
auditing standards in their audit of the 1995 financial statements of a now-defunct Utah corporation, Dynamic
American Corporation. Jones, the engagement partner, was primarily responsible for the audit field work. Jensen
performed the concurring partner review on the audit.
The Commission previously instituted public administrative proceedings against Dynamic and six individuals based on
a 1996 "pump and dump" scheme by which about $4 million in Dynamic stock was sold to the public. See, In the
Matter of Jethro J. Barlow, CPA, et al., Exchange Act Rel. No. 41689 (August 2, 1999; In the Matter of Dynamic
American Corporation, Exchange Act Rel. No. 41688 (August 2, 1999).
In the order, the Division of Enforcement alleges that Dynamic's financial statements, included in the company's
amended annual report on Form 10-K/A filed in November 1996, were not prepared in conformity with GAAP.
Specifically, the staff contends that Dynamic's balance sheet improperly listed as an asset certain Bolivian mining
properties that were materially overvalued at $36,600,000, or 91% of Dynamic's total consolidated assets.
Furthermore, in performing their audit of Dynamic's 1995 financial statements, Jones and Jensen also did not act in
accordance with GAAS in that they: failed to adequately plan the audit; failed to obtain sufficient competent evidential
matter; failed to maintain an attitude of professional skepticism; failed to exercise due professional care in the
performance of the audit; failed to issue a proper audit report with respect to the work performed by other auditors;
and by using a lower-of-cost-or-market analysis, did not test the
balance sheet presentation of certain "ore concentrates" valued at approximately $4.3 million.
A hearing will be held before an administrative law judge to determine whether the staff's allegations are true, and if
so, whether Jones or Jensen should be censured or temporarily or permanently disqualified from or denied the
privilege of appearing or practicing before the Commission.
sec.gov
Bloomberg also reported the story:
Salt Lake City CPAs Accused of Bad Audit on Dynamic American Washington, May 30 (Bloomberg) -- Two Salt
Lake City accountants improperly audited Dynamic American Corp., a defunct Utah company that misrepresented
the value of its South American mining properties, the Securities and Exchange Commission said.
The SEC alleged in administrative charges that CPAs R. Gordon Jones and Mark Jensen ``recklessly'' violated
professional auditing standards in a 1995 audit of Dynamic American, which described itself as a mining company.
Dynamic American's stock registration was revoked last year after the SEC accused it of misstating the value of
Bolivian mineral properties acquired in a sham transaction. The financial statements audited by Jones and Jensen
overvalued the Bolivian mines at $36.6 million, the SEC said.
Jones's lawyer did not have an immediate comment. Jensen's lawyer could not be reached.
The men face a hearing before an SEC administrative law judge, who will determine whether they should be censured
temporarily or permanently barred from practicing as accountants before the commission, the SEC said.
Jensen is contesting separate SEC charges that he was involved with an improper audit of the financial statements of
Sky Scientific Inc., a defunct Florida gold mining company, the SEC said. In March 1999, an administrative law
judge ordered Sky Scientific, and 16 brokerages, stock promoters and former company executives to pay $14.8
million in penalties after ruling that they illegally touted the company's stock.
May/30/2000 18:05 ET Bloomberg News,
Other related links:
Shady company looking for auditors! Company with huge problems looking for auditors, any auditors, we don’t
care, as long as we can find someone in a hurry.
gamblingmagazine.com
The new auditors Jones, Jensen & Company, of Salt Lake City, Utah! What a joke!
gamblingmagazine.com
STARNET'S new auditors will resign when they realize the extent of the massive accounting frauds!
gamblingmagazine.com
No they won't resign they will just cook the book for Starnet, no problem!
IMPORTANT READ THIS:
UNITED STATES DISTRICT COURT DISTRICT OF COLORADO
COMPLAINT FOR VIOLATIONS OF THE FEDERAL SECURITIES LAWS
CLASS ACTION
FALSE AND MISLEADING FINANCIAL STATEMENTS
THE SURPRISE DISCLOSURE OF FIVE YEARS OF UNRELIABLE
FINANCIAL STATEMENTS
VIOLATIONS OF SECTION 10(B) OF THE EXCHANGE ACT AND RULE 10B-5 OF THE SEC AGAINST
ALL DEFENDANTS
securities.stanford.edu
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