Dow Jones Story:
The state of Tennessee has filed suit against Gary Ray Emery. The suit
alleges that Emery, Zayed and other unidentified people devised the
surety bond scam and used corporate assets for their own personal use.
The civil suit also charges Emery with helping GIFS buy a piece of property called Serenity farms that the state says was fraudently
represented to GIFS shreholders as an income producing investment.
State receiver Bryant wrote in her most recent report, it offered little more than an outstanding mortgage of $982,536.
I have previously stated that Emery was the teacher, we know the names
of the unidentified people, and their day will come soon. You will recognize some of the names, I am sure.
In another Dow Jones news story, Essary was quoted as saying that "it was just kind of a screw up," referring to the potentially improper appearance of a relationship between Waaco, IRI and GIFS. IRI took
money from GIFS for the infamous presentation. We can all recall the hype that preceded and followed that presentation.
"I haven't thought about Genesis in a very long time," Essary added.
Some investors who bought shares of GIFS after reading about it on Essary's newsletter and elsewhere on the internet, however, haven't forgotten... |
