Did you notice in the Stockwatch article they mentioned IKON VENTURES?
To:Donny Brasco who wrote (249)
From: NoBusinessWire.com Saturday, Sep 1, 2001 10:20 AM
Respond to of 485
GLOBAL CAPITAL PARTNERS IS SELLING SUTTON ONLINE TO IKOM VENTURES WHICH IS CONTROLLED BY IAN RICE ITS LARGEST SHAREHOLDER. GLOBAL CAPITAL PARTNERS AS I HAVE PREVIOUSLY POSTED WAS HEAVILY INVOLVED IN KHASHOGGI'S WMP BANK A/K/A. GENERAL COMMERCE BANK AG. WMP BANK IS UNDER FBI INVESTIGATION FOR RUNNING A WORLD WIDE BOILER ROOM RING. 4 PEOPLE ARE IN JAIL BECAUSE OF MASSIVE FRAUD AT THE BANK.IKOM VENTURES WAS PREVIOUSLY KNOW AS MYWEB AND PRIOR TO THAT ASIA MEDIA COMMUNICATIONS. WHEN THE DEAL CLOSES ON SUTTON ONLINE AN UNKNOW ENTITY IS SUPPOSED TO BE BUYING OVER 30% OF THE COMPANY. REGIS POSSINO THE CONMAN IS INVOLVED WITH GLOBAL CAPIPITAL PARTNERS WHICH BTW ACCESS1FINANCIAL AND MARK BERGMAN PUT ON A STRONG BUY ON GCAP RIGHT BEFORE THE STOCK NOSEDIVED. HERE IS A STORY THAT MENTIONS IAN RICE.
Russian mafia in double vodka share scam
By Michael Gillard The threat to the City of London from the godfathers of Russian organised crime is not restricted to money laundering through its banks as indicated by the recent Bank of New York investigation. The Express can today reveal how the Russian mafia was involved in an attempt to make millions from two companies listed on the London and New York stock markets. A Russian crime group wanted to exploit the companies to sell one of Russia's most popular brands of vodka which promoted international sales by sponsoring a Formula One motor racing team, international tennis tournaments and other sporting events that were unaware of their real benefactors. However, investigations by American stock market regulators and the Belgian police exposed the involvement of the Russian mob, leading to the collapse of both deals. At the heart of the scheme was an Antwerp-based company which then owned the rights to Kremlyovskaya vodka. Antwerp is a major centre for Russian organised crime groups attracted by its diamond business. Kremlyovskaya Group was controlled by a syndicate of mainly Russian businessmen headed by Riccardo Fanchini. Fanchini's Russian contacts had close connections to the circle around Russian president Boris Yeltsin. This facilitated a legitimate deal to export the "Kremlin's vodka" to Russia under a partnership with Moscow's National Sports Foundation which received a royalty from every bottle sold. The foundation was supposed to use the royalties from importing tax-free alcohol to fund Russian sport. Instead it became a magnet for the mobsters. Its director survived an assassination attempt in 1996 only to die mysteriously this year. Fanchini, 43, came to Belgium from the "Little Odessa" neighbourhood of Brooklyn, the centre for the Russian mafia in New York. Kremlyovskaya Group was formed in 1992, two years after the vodka was launched. In March 1996 Fanchini and friends negotiated for the company to be injected into a NASDAQ-listed "shell" company, Asia Media Communications. They were to receive 89million AMC shares. Internal documents seen by The Express show it was intended to raise up to $100million by loans and further share sales to finance a Russian vodka distillery and the export of cigars, chocolates and other luxury goods to Russia. Most of the AMC shares were to go to a maze of offshore companies in various tax havens. Some of these companies were managed by a London-based company administrator who declined to be interviewed by the Belgian police about his work for Russian gangsters. Investigators believed their secret aim was a "pump and dump" scam whereby the AMC share price would have been grossly inflated, enabling the offshore companies to unload equity and cash while at the same time the vodka business provided an opportunity to launder money. Sergei "Mikhas" Mikhailov, the leader of Moscow's Solntsevo organisation, the largest Russian crime group, who has substantial interests in Belgium, and fellow Russian godfather Semion Mogilevich, who featured in last night's BBC-TV Panorama programme, carried out a similar operation with YBM Magnex. This Canadian-listed "shell" company acquired magnet businesses in Eastern Europe. YBM was worth £400million on the Toronto stock market before the bubble burst last year when the FBI raided its headquarters. Mogilevich money from YBM was among the $10billion laundered through the Bank of New York. In July 1996 it was announced that Greenhills, a "shell" company listed on the AIM market in London, was to acquire the rights to sell Kremlyovskaya in Britain, Ireland and Cyprus. Greenhills was to take over Russian Dawn, a private British company that had acquired these rights, for up to £1.35million to be paid in Greenhills shares. The major vendor of Russian Dawn was London-based Australian businessman Ian Rice, the controlling shareholder and chairman of AMC before the proposed Kremlyovskaya Group deal. Attempts to contact Rice, who is not suspected of any wrongdoing, were unsuccessful. But in mid-August 1996 the AMC deal collapsed due to what Rice called a "mutual mistake". AMC disclosed there had been "breaches of certain of the representations and warranties" made by Fanchini and the other vendors of Kremlyovskaya Group. As a result suitably audited statements could not be produced to satisfy the US Securities & Exchange Commission watchdog. A day after the purchase of Kremlyovskaya Group was rescinded, the Greenhills deal also collapsed. Rice and the other vendors of Russian Dawn said they no longer wanted to proceed. Greenhills went into liquidation later in 1996. Russian Dawn collapsed in 1997 with debts of £250,000. Kremlyovskaya Group became bankrupt in December 1996. The vodka is now sold by an unrelated company and owners. Fanchini was convicted earlier this year in Antwerp of bankruptcy fraud in relation to the company's collapse. He was given a two-year prison sentence, most of it suspended. Two associates were also convicted. Others, including director Yacov Tilipman, remain wanted in Belgium. Next month Fanchini will appeal against his conviction while prosecutors will appeal against his acquittal on money-laundering charges on the basis of new information about the Kremlyovskaya scam.
© Express Newspapers, 1999 google.com. Thursday July 5, 9:43 am Eastern Time
Press Release
Ikon Ventures, Inc. to Acquire Sutton Online, Inc.MELVILLE, N.Y.--(BUSINESS WIRE)--July 5, 2001--Ikon Ventures, Inc. (OTCBB:IKNV - news) announced that it has entered into a definitive agreement to acquire all of the issued and outstanding capital stock of Sutton Online, Inc., a private company formed in April 1999, that develops and markets worldwide trading solutions, in exchange for a controlling interest in Ikon. Pursuant to the agreement, Sutton Online would become a wholly owned subsidiary of Ikon, and Ikon would issue to the stockholders of Sutton Online shares of Ikon common stock, which upon completion of the transaction, would constitute approximately 78% of the total then issued and outstanding shares of Ikon common stock. In addition, the current officers and directors of Ikon would resign and, subject to compliance with applicable laws, it is expected that Sutton Online's current management will be appointed to fill the vacancies. Sutton Online is an innovative, Direct Access software company that provides online solutions to individuals, broker/dealers, and financial companies worldwide. Sutton Online provides a turnkey solution comprising of front-end software, trade routing and back-office management applications. GlobalDAT(TM), a unique proprietary technology owned by Sutton Online, connects European and American Stock Exchanges and ECN's through one user interface for share dealing. The agreement has been executed by three stockholders of Sutton Online, Jonathan D. Siegel, the Chief Executive Officer of Sutton Online, Gregory Frank, the President of Sutton Online, and Global Capital Partners, Inc., the principal stockholder of Sutton Online.</v> These stockholders own in the aggregate approximately 75% of the total outstanding shares of Sutton Online. In connection with the agreement, Ikon issued a convertible promissory note to an unaffiliated accredited investor in the amount of $100,000. The note provides for mandatory conversion into 25,000 shares of Ikon common stock upon completion of the Sutton Online transaction and, if such transaction is not completed for any reason, payment of the principal thereof, together with interest at the rate of 8% per annum, is payable on demand. The proceeds from the sale of the convertible note were loaned by Ikon to Sutton Online. If for any reason the Sutton Online transaction is not completed, the loan to Sutton Online is repayable in one year. Completion of the transaction is subject to the fulfillment of various conditions, including: (a) Ikon having a liquid net worth at closing of no less than $400,000, (b) signature of the definitive agreement by all of the other stockholders of Sutton Online, including holders of certain outstanding indebtedness of Sutton Online that must be converted into Sutton Online stock prior to the closing, and (c) the sale by Global Capital Partners, on such terms as may be agreed, of at least 2,684,000 of its Sutton Online shares (representing approximately 45% of the current total issued and outstanding shares of Sutton Online) to Jonathan D. Siegel, Gregory Frank and/or such other purchasers as may be acceptable to Global Capital Partners. No assurance can be given, however, that these and the other conditions to closing will be satisfied or that the acquisition will be completed. If the conditions to closing have not been satisfied, and the closing has not occurred by August 17, 2001, then any party to the definitive agreement will have the right to terminate the agreement. Ikon, having sold all its operations in March 1999, since such date has engaged solely in the business of seeking investment opportunities. If the Sutton Online transaction is not completed, no assurance can be given that Ikon will be able to identify and consummate another business combination. Forward-looking Statement: The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements. Certain information included in this news release (as well as information included in oral statements or other written statements made or to be made by IKON Ventures, Inc.) contain statements that are forward-looking, such statements related to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of IKON Ventures, Inc. For a description of additional risks and uncertainties, please refer to IKON Ventures, Inc. filings with the Securities and Exchange Commission, including Forms 10K and 10Q. --------------------------------------------------------------------------------
Contact: Ikon Ventures Inc., Scottsdale, Ariz.Ian Rice, 480/945-2232http://www.google.com/search?
q=cache:KdVl2LK59V0:biz.yahoo.com/bw/010705/2092.html+%22Ian+Rice%22+sutton+online&hl=en |
