My Views/ Answers to Questions about CMKX and the Market
Location: Blogs Bud Burrell - Front and Center
Posted by: bburrell 7/12/2006 11:23 AM
Bud,
Could you give us your views on the following questions?
** are my answers.
1. What impact do you think Gary Aguirre's testimony had on the Senate Judiciary Committee?
** Aguirre hit the SEC where it lives, the possible beginning of the end of this highly compromised entity. I would love to know what he had to say in closed hearings. The SEC threatened him with legal action if he disclosed anything to the SJC on ongoing investigations. Spector and Hatch didn't find that amusing.
2. There seems to be a tug-o-war turf battle going on between the Senate Judiciary Committee and the Senate Banking Committee. What is your opinion on this?
** It has been orchestrated in a long term program, basically because the SBC would not address the problems of NSS etc in hearings, all blocked by Shelby. The SJC became the only place anyone could take their complaints.
3. If these two committees keep debating who has the right to intercede in this matter, who will make the final call as to whom will deal with this?
** They have to settle this by negotiations between them. It is part of the separation of powers rules.
4. I read that Rod Young, CEO of Eagletech, is appealing the deregistration of his company. How did this happen? How may we support his efforts?
** Rod expected this, and welcomes it, as it gives him a right of appeal to Federal District Court. This is far from over. The clowns who wrote the Commission ruling, which was the product of many man months of work, literally stepped on their cranks here, opening Pandora's Box.
5. Can you explain the interpleader motion? cmkxownersgroup.com
** The word "interpleader" is a made up word, for all intents and purposes, with some legal meaning, but little else. If there is a dispute, it would be resolved by a Mediation and/or Arbitration.
6. Why is the interpleader necessary to complete distribution?
** This is more BS. There is no such necessity.
7. Why do you believe the counter continues to count certificates well after the deadline has passed?
** I didn't know this was continuing, and I don't know who is doing it. This is more BS, unless it is leading to a law suit. Frizzell is one of the few keepers here who might make a difference in the future, and everyone needs him right now.
8. What is your opinion of the Stoecklein/Maheu resignations from the task force?
** They know something you don't, which is most likely not good, and their departures clearly reflect an opinion that there is nothing more that they can do.
9. Is it possible that the interpleader motion was filed and a judgment has already been granted, considering these are largely closed proceedings?
** I don't believe a word of this. If anyone here had bet against every rumor circulated in this transaction, they would now be living in their own Country, protected by the Israeli's.
10. Do you still believe in a "sting" as a possibility?
** I think this was a sting initially, until someone high up found something by accident valuable enough to justify the theft of it from unsophisticated mass of shareholders. I speculate they rolled the bad guys to help them scam the assets, it there were any real ones to start with. Who could have done this on this scale globally is a truly staggering question.
11. The DTCC recently released information citing their FTDs were exaggerated, and the figure is closer to 3 billion daily. What are your thoughts on this?
** DTCC's statements are the lying lies of lying liars, per their critics. I wouldn't believe anything they have to say. Their integrity is a joke, something pulled from their collective rectums. Once someone lies to you, your only logical position in future contacts, which should be avoided, is "Were you lying then, or are you lying now?"
12. Should we, as a group, write to our state regulators to take action against perpetrators failing to deliver our stocks and causing irreparable damage to our companies? Can they legally act and intervene on our behalves?
** This may be the only thing you can do. They can intervene to help. Just look at Utah's action on Fails.
13. Congress ,as a whole, needs to step in and revamp the SEC. What is the fastest way to accomplish this? What can we do to cause our leaders to act?
** The SEC needs to be broken up, it is simply too compromised. No one, and I mean NO ONE, trusts them on any level. Take the Enforcement lawyers and send them into a new unit of DOJ, and put the Market Reg types in Treasury. A better alternative is to liquidate the entire entity, and start new from scratch with no lawyers in management. What Government agency would want anyone from an activity whose integrity is so compromised?
14. Patrick Byrne responded to the DTCC release about the number of FTDs being less than originally calculated. How do you think they came up with these new modified numbers? How do you think they viewed Patrick Byrne's response?
** They hate Patrick Byrne, and probably pray at night for his untimely demise. He nailed their scalely, slimy hides to the wall on the FTD issue, and with their latest position change, this is what should be done with them personally. The DTCC is a lying bunch of lying liars, and they need psycho-sexual therapy involving something bio-mechanical.
15. It seems the SEC has altered their mission statement throughout the years. The last time Chairman Cox eliminated the word "integrity" from the mission statement. What are your thoughts on this?
** The SEC doesn't consider its integrity a problem. No Integrity, no problem. The SEC needs to be dismantled, and the SEC Management parties and their lawyers put on polygraphs for a year each. The opening questions should center on when they stopped beating their spouses, children, molesting animals, etc.
16. Recently, this was noticed at the end of Mark Faulk's blogs:
Mark Faulk is the Editor of The Faulking Truth, and the author of the upcoming book about the CMKX saga entitled "The Naked Truth: Counterfeiting the American Dream." Because of the massive amounts of research required to complete this project, and so that the events of the next few weeks can be included in the book as well, it has been rescheduled for release at the end of July or early August.
What events, in particular, did you want to include?
** The recent resignations and false rumors of a now pending 22 page press release in particular. These manipulator types, both civilian and government, need to be "interrogated" Indian style, using some combination of a big fire ant hill, along with a slow fire with a spit over it.
This company now has no officers or directors who are Executive level, UC has sold him home, his lawyer isn't returning calls, there is no corporate lawyer, no offices, no phones, no books, etc. The great white hope here, Bob Maheu, has left, and the Owner's Group lawyer Bill Frizzell, also gone, needs to file a class action now. The motion to dismiss should be heard in a couple of years, and the trial should have a chance of getting off the ground in 5 years, maybe 7 to 10. By then, half the CMKX shareholders will be dead, and/or moved on, and the scum here will be sailing into the sunset laughing their asses off.
This entire thing stinks to high heaven. The responsible parties should be castrated, then jailed for the rest of their lives. This now smells like a sting that morphed into a scam under some very powerful and sophisticated control.
They have, by these actions, created some really plausible and highly stimulating hypothetical endings for Mark's book, which should now be guaranteed best seller status. Never in my history of watching companies have I seen so few tell so many lies to so many, and still be walking around. The much more ominous question is who allowed this? Why didn't the SEC and /or DOJ intervene and simply pull the plug on this coterie of criminals? Did the initial bozo's here actually stumble onto something so valuable, stealing it became a matter of national and international security? Will anyone here live to see the answer?
Copyright ©2006 Bud Burrell
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Re: My Views/ Answers to Questions about CMKX and the Market By Mr. Skeptical on 7/12/2006 1:16 PM
Who is John Moran then Mr. Burrell??
Re: My Views/ Answers to Questions about CMKX and the Market By Gluggo on 7/12/2006 2:42 PM
Sorry Mr Burrell I hope your wrong about CMKX. Didnt you once say the 100 billion was the true OS? Did you change your mind on this. We have a share count of 629 Billion shares as counted so far. Now your saying it was a sting gone bad. Now your saying Bob Maheu gave up and ran. Sorry but it seems like your flip flopping one side to the other. Which is it? I want to respect you but maybe you should reserve some of your opinions till the truth really comes out. Just my opinion.
Re: My Views/ Answers to Questions about CMKX and the Market By bburrell on 7/12/2006 1:25 PM
Skep,
Read "Born to Steal", by Gary Weiss for everything you really didn't want to know about John T. Moran, the man the J. T. Marlyn character in the movie "Boiler Room" was reportedly modeled on. Weiss called Moran the "King" of the Boiler Rooms, a four count convicted federal securities felon in 1991, who rolled, giving up a reported 60 some members of the Genovese and other crime families he was wired into. His sentencing was continued for 6 consecutive years while he rolled, and since then, he has reportedly continued to play with a pass from the Government, generally against his own type.
You apparently know enough about the Internet to know how to find this site, but not to do a Google search. Enter the keywords "John T. Moran Boiler Room" on the Google search engine and his NASD link is #1
Re: My Views/ Answers to Questions about CMKX and the Market By Briwadd on 7/12/2006 2:42 PM
Bud, I have read what you have to say. For the most part, I agree with you; however, some individuals on the boards are turning on you claiming that you stated earlier that you beleived that CMKX had an OS of 100 billion. Any comments?
Re: My Views/ Answers to Questions about CMKX and the Market By V.Vincit on 7/12/2006 2:43 PM
"His sentencing was continued for 6 consecutive years while he rolled, and since then, he has reportedly continued to play with a pass from the Government, generally against his own type."
Would it not then be fair to say that maybe, just maybe, John T. Moran is actually working WITH the Government on the issue? Perhaps helping to put away MORE bad guys? Is that not also a fair theory as to his role in this whole thing?
"You apparently know enough about the Internet to know how to find this site, but not to do a Google search. Enter the keywords "John T. Moran Boiler Room" on the Google search engine and his NASD link is #1"
Excellent way to encourage your readershiip.
Google: If instead you google specific, "John T. Moran" boiler room, you will get back a whopping 4 results, 8 if you click the "repeat the search with the omitted results included". In all fairness we'll go through all 8.
The 1st link being the one you claim as "his NASD link", which in reality is not a NASD link at all. It is in fact a link to an independent website referring to charges by the NASD, written by Ben Abelson of the "Long Island Business News".
The 2nd link is dead, with the sub beneath it (3rd) leading to Stockhouse.com, which in turn is just a posting of one of your blog entries from 4/9/2006, entitled, "The Coming Sentencing of Anthony Elgindy, What he is and what he deserves", where you mention John T. Moran.
The 4th link leads to another independent website, findarticles.com, which is just another posting of the same exact story written by Adelson from link # 1.
The 5th link leads directly to your blog entry from 4/9/2006, "The Coming Sentencing of Anthony Elgindy, What he is and what he deserves".
The 6th, 7th, and 8th links have absolutely nothing to do with John T. Moran.
-----------------
My point? Instructing someone to "do a google search" as a way of finding definitive evidence regarding a particular subject and/or person is not the best way to go about proving your point(s). Google is not perfect and we all know that anyone with half a brain can print up a story and post it to the web.
Re: My Views/ Answers to Questions about CMKX and the Market By Lowriderbill on 7/12/2006 2:44 PM
Bud,
With all due respect, I believe you have our CMKX counsel and the notorius boiler room perpetrator confused.
The John T. Moran you speak of was a graduate of Hofstra University and started J.T. Moran & Co., a Manhattan-based brokerage firm back in 1986. This firm folded in early 1990 after an extensive fraud investigation by the NASD.
I believe CMKX is represented by Moran & Associates of Las Vegas. John T. Moran Jr. started Moran & Associates, a well respected Las Vegas law firm back in 1975.
moranlawfirm.com
John T. Moran Jr. is a graduate of the University of Nevada Las Vegas (UNLV) and was appointed to Nevada Gaming Commission in 2004.
gov.state.nv.us
I believe his son John T. Moran III is the actual attorney assigned to CMKX.
I also believe there is much more to the CMKX situation than you give credit for. I respectfully ask for clarification on where you obtain your background info on CMKX when forming your opinions. There are many of us who have performed extensive DD on CMKX and have a completely different opinion than yours.
Enjoy your day sir...
Lowriderbill
Re: My Views/ Answers to Questions about CMKX and the Market By bburrell on 7/12/2006 2:47 PM
I was asked about John Moran, who I have written about previously. He is the only one I know, and I offer no offense to the lawyer in LV with the same name.
It is a coinicidence, plain and simple. I have had no one give me anything I would call due diligence on CMKX. CMKX's biggest problem has been the total absence of such information, which is information fact verified by a qualified unrelated third party.
Re: My Views/ Answers to Questions about CMKX and the Market By mathias-1 on 7/12/2006 4:09 PM
Bud, you make some great points...until you call CMKX as "sting". It was a scam from day one. The sting theory got some serious play on Paltalk, but I think it's time to put that nonsense to rest.
Re: My Views/ Answers to Questions about CMKX and the Market By bburrell on 7/12/2006 4:13 PM
Mathias-1,
I agree it was a scam from Day one, but something happened on the way to the forum. There is simply no precedent in history for anything like what has happened with this stock, or the lack of intervention by authorities.
To be direct, I introduced some CMKX shareholders to a Federal investigator, who dropped out of this suddenly and with no explanation. That isn't a rumor, it is a fact. Everything went from indictments to a vacuum. That is no accident.
I don't think it ever stopped being a scam, even if it became a sting, which is a speculation on my part from some pretty material due diligence experience.
Faulk's book will very likely posit possible scenarios, including several with sting components. The BS right now will make the book a best seller.
Re: My Views/ Answers to Questions about CMKX and the Market By Sledge_Hamer on 7/12/2006 6:26 PM
I was checking the SanityCheck blogs tonight and I just read this one by Burrell. Let me make a few comments about CMKX. It was known in a few circles back in early 2004 that their was a group of people close to and inside CMKX that had devised a plan to do a pump and dump on the stock. When I heard about it, I looked at the stock price (.0001) and just laughed. I have to admit that I was very surprised by the volume it turned on it's way up and on it's way down. The dollar volume of stock dumped must have been between $100 to $200M. A group of people from Las Vegas and Canada got a lot richer from the stock dump while a lot of rubes got stuck with forever worthless stock. I feel that Bobo, Byrne and the others have a very legit cause they have taken up with naked shorting and FTDs and I do make comments on Bobo's blog occasionally. I have gained much respect for the man. I feel that because CMKX was the biggest pump and dump penny scam I have ever seen, lumping it in with the legit cause of Bobo and others is taking credibility away from them. To Bud Burrell, if you don't know what went down on CMKX and how it was done, you should't be making comments that have no basis. This sting theory is as far fetched as it gets and there were never any intentions of putting a real company together by the scammers. You, sir, need to get into the loop, use common sense and know of what you speak. This isn't rocket science. And one more comment, good sources are telling me that the SEC/DOJ/IRS are building a case on the perpetrators. You might want to get some distance from this one from now on.
Re: My Views/ Answers to Questions about CMKX and the Market By jerrykarr on 7/12/2006 6:47 PM
Questions maybe you can answer
1) There are many persons behind the scences involved with perpetrating the CMKX scam (If it is one). Do you think these persons, companes etc were all unaware of their willing participation in bilking 40 + thousand investors.
2) You stated "I introduced some CMKX shareholders to a Federal investigator". What arm of the government was it ?
3) You have stated alot of misinformation in the few paragraphs I have read above and yet you are talking like you are relating facts. Are you guesssing at alot because of lack of inside information. It is obvious that you are not up on alot of easy to come by information relating to CMKX.
4) What is your opinion on future information from the company. Do you think there will be any. It seems to me that many bashers and pumpers have not posted for a few days and we have been waiting for many weeks for something from Urban. Is it over at this time ?
please advise. best, jerrykarr.
Re: My Views/ Answers to Questions about CMKX and the Market By bburrell on 7/12/2006 6:46 PM
The Federal Investigator I introduced CMKX shareholders to was with a DOJ Strike Force. Their names are confidential, and they are part of a much larger group interviewed. I would assume everyone knows that who is involved in this space and has listened to my interviews.
I have been a investment and financial professional since the early 1970's. A lot of the easy to come by information has not been verified by acceptable due diligence, in fact, virtually none of it has. Acceptable due diligence is what I addressed in one radio interview on www.cfrn.net/investigates, #3 or 4.
I was curious what this post would prompt. I got a call from one of the shareholders who spoke with the Strike Force, and he informs me separate announcements will be coming from Maheu and Glenn.
I have repeatedly stated that I have no position on CMKX either way, nor would I have any position. Again, I invite all to listen to my radio interviews.
I have no expectations for CMKX or any of its variants. I know too many people who have been told too many lies.
I know many, but far from all of the names, behind CMKX, and none of them other than Maheu, Stocklein and Frizzell scan worth a damn.
I was asked to look at this objectively from my experience base, and I did it for free as a favor to some decent people I thought were getting their chains jerked. I had a coincidental involvement with some of the parties investigating this for the Government by sheer accident, and you can believe I haven't told you anything material I have told them, nor have I violated any confidences. Rather, a lot of what you have been told is absolute BS. Many of you think you know what the word Machiavellian means. I can tell you this goes so far past this as to border more on science fiction. There are a lot of proponents of the big ie/big rumor here. What you can't imagine is that something can be a scam and a sting at the same time, which you would know if you knew the details of the Bermuda Short Sting case, a busted flush if their ever was one, with Valentine getting a skate.
The number of investors is unknown, in particular because I know of no one who even begins to think they have a clean and reliable foreign shareholder number, and it is way north of 40,000. That is nothing new with what goes on Euroclear.
I have been in collateral space hard for over 10 years now. I have seen things that have never been made public, nor should they have been.
Time is the great test here. We will see where this is a month from now. I genuinely want the best for everyone here, but if this works out that way, it will be a literal first in my life. Expectations, like possessions, are the trap of the soul.
Re: My Views/ Answers to Questions about CMKX and the Market By Mark Faulk on 7/13/2006 7:40 AM
Still alive Bud? You're climbing into the middle of the firestorm with this one. Proceed with extreme caution.
Re: My Views/ Answers to Questions about CMKX and the Market By KenLayFromTheGrave on 7/13/2006 7:41 AM
I'm not convinced we will see anything meaningful from our regulators. I have seen this corruption gone on far too long to know they are involved.
The few busts we do hear about are setups for us to feel warm and cozy about these crooks.
corruption
Re: My Views/ Answers to Questions about CMKX and the Market By dawgman on 7/13/2006 8:28 AM
>>>** It has been orchestrated in a long term program, basically because the SBC would not address the problems of NSS etc in hearings, all blocked by Shelby. The SJC became the only place anyone could take their complaints<<<
I have followed this naked shorting issue since 2003. All along I have said that this game can only continue because the hedge fund hudlums involved "own" someone at the SEC. I have recently rethought my position on that. I now believe that the big-man in their pocket is Shelby. I think it was Shelby who forced Harvey Pitt to resign at the instruction of his handlers, because they found that Pitt was unwiling to play along. I believe it was Shelby who engineered placing Donaldson at the SEC as a quick short term solution. When Donaldson resigned (probably to avoid seeing the S.. hit the fan as it ultimately will) I believe that it was Shelby who engineered the apointment of a very cooperative Cox! I don't know what's in it for Shelby, but I can imagine. The stink from this is now so terrible that I hope that Hatch and Specter have gotten a whiff of what's really going on here!
Re: My Views/ Answers to Questions about CMKX and the Market By crstphr2 on 7/13/2006 9:16 AM
The only thing I get out of your whole article and replies is the fact that the Federal Investigator was essentially "called off". Now why do you think that is?
Re: My Views/ Answers to Questions about CMKX and the Market By bburrell on 7/13/2006 9:16 AM
I have no information on why the DOJ pulled back from this. I hope it is good news for the shareholders.
Re: My Views/ Answers to Questions about CMKX and the Market By mathias-1 on 7/13/2006 3:24 PM
Bud: I don't believe for one moment that all investigations have been called off. I'm not even sure what exactly leads you to believe that the DOJ has "pulled back from this". Surely you can clarify why you've come to this conclusion without naming names. And if, as you say, the names are confidential, then perhaps the investigation is also, which is why it appears to have been called off? Or perhaps another government agency has taken over? The IRS?
Or is this simply a rumor? Please clarify this point.
I also have to disagree with your comments regarding the "authorities lack of intervention". CMKM Diamonds had a very short life-span, if measured from the day Urban took over the CMKI shell, to the suspension. The period it took Urban to dump hundreds of billions of shares on the market was only a fraction of CMKX's lifespan.
My point is that regulators DID intervene. Unfortunately, Urban dumped nearly 800 billion shares so quickly that it might appear as though regulators were dragging their feet.
I would also like to point out the Moran III specializes in:
-Litigation and Government relations
-Administrative Law
-Defense Litigations
Now, why would Urban need an attorney such as this?
moranlawfirm.com
Re: My Views/ Answers to Questions about CMKX and the Market By bburrell on 7/13/2006 3:31 PM
The investigator involved first disconnected, and then moved to another jurisdiction. He had not followed up with the shareholder introductions after several initial conversations.
At about the same time, the DOJ dropped another essentially made riskless case citing lack of resources. That could very well be what happened here. Whether the latter is true or not, the effect on anyone supporting them is the same, there is no more contact. As for another agency picking this up, if it happened it most likely isn't the IRS since the investigator I dealt with was an IRS CI seconded to the DOJ Strike Force.
UC is the only person who can tell anyone why he hired Moran. Anyone else's guess is pure speculation.
Like I said, see where we are on this on a future date, like July 15. If all of this is still rumors, I can suggest other solutions, as could anyone familiar with securities fraud issues.
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