Geoffrey Eiten tied yet again to another wallstreet swindler:
"SEC v. Vincent Cammarata, et al., Civil Action No. 07-81163-CIV-MARRA/JOHNSON (S.D.F.L.)"
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OTC Financial Network Issues Favorable Report on Paradigm Tactical ...16 /PRNewswire-FirstCall/ -- Paradigm Tactical Products, Inc. , a leading ... Geoffrey Eiten, publisher of OTC InvestorFacts, stated, "Paradigm Tactical. ...
goliath.ecnext.com/coms2/gi_0199-4596611/OTC-Financial-Network-Issues-Favorable.html - 22k - Cached - Similar pages
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Press Release Source: Paradigm Tactical Products Inc.
Letter to Shareholders from New CEO Vincent Cammarata
Tuesday October 16, 9:15 am ET
GEORGETOWN, Mass.--(BUSINESS WIRE)--Paradigm Tactical Products Inc.(Other OTC:PDGT.PK - News), a leading provider of non-lethal defense and homeland security solutions to corrections, law enforcement and the security industry, issues letter to shareholders.
Dear Shareholders:
I would like to take this opportunity to thank all the shareholders of Paradigm Tactical Products as well as its Board of Directors for appointing me to the position of CEO. While I have been CEO of Paradigm Tactical Products for just a short time, I have become extremely excited by its future prospects.
Our primary product for the last 5 years has been the FriskerPRO®. The FriskerPRO® is a hand worn metal detector and is used by law enforcement, correctional facilities, and private security worldwide. Over the past 5 years Paradigm Tactical has forged relationships with law enforcement and security distributors internationally. It is these relationships that represent the true value of the company and how we will move towards being a global competitor in the law enforcement and security market.
I believe that in the coming months and years we will continue to sell tens of thousands of FriskerPRO devices. This has been a great product for the company and you can look forward to larger contracts being announced in the coming days. I also believe that you will be as excited as I am with the new line of devices that will be coming soon.
The Law Enforcement market is an exciting, rapidly changing and profitable industry. Some of the technologies that we are exploring are in the field of radiation detection and explosive detection. We will be able to utilize the channels and relationships that we have in place now to deploy new devices to distributors. This more rapid deployment should translate into increased sales and earnings per share.
This week we have a representative at the International Chiefs of Police Association conference in New Orleans. We are attending this conference with 3 primary objectives. The first is to seek new customers and distributors for the FriskerPRO®. The second is to continue to build our critical existing distributor relationships and the third is to seek out new products and patents to acquire.
I am committed to taking this company to many higher levels. You can look forward to new advertising campaigns to give Paradigm greater visibility in the global marketplace. You can also look forward to more frequent updates on our progress as well as our financial statements as it becomes appropriate. Finally I want to thank all of our shareholders and customers for their support and loyalty.
About Paradigm Tactical Products
Paradigm Tactical, based in Georgetown, Massachusetts, is a leading provider of non-lethal defense and homeland security solutions to corrections law enforcement and security industry. The Company owns transferable licenses to manufacture, market, and sell the FriskerPRO®. As the heightened attentiveness to terrorist and other security threats continue to increase, Paradigm Tactical is meeting the higher demand for security and inspection systems. For sales information, visit: friskerdirect.com.
Safe Harbor Statement from Paradigm Tactical Products, Inc.: Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, and network or service offering growth, together with other statements that are not historical facts, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Any forward-looking statements are estimates, reflecting the best judgment of the party making such statements based upon currently available information and involve a number of risks and uncertainties, including the timing of any expansion of the Company's database, and other factors which could cause actual results to differ materially from those stated in such statements. Risks, uncertainties and factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by the Company with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of the Company should be considered in light of those factors.
Contact:
Paradigm Tactical Products
Vincent Cammarata, 1-866-FRISKER
President and CEO
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Source: Paradigm Tactical Products Inc.
SEC Files Actions Against Ten Defendants in Fraudulent Kickback Schemes
Litigation Release No. 20390 / December 7, 2007
SEC v. Vincent Cammarata, et al., Civil Action No. 07-81163-CIV-MARRA/JOHNSON (S.D.F.L.)
SEC v. William L. Haynes, et al., Civil Action No. 07-81165-CIV-MIDDLEBROOKS/JOHNSON (S.D.F.L.)
SEC v. Mark Foglia, et al., Civil Action No. 07-81162-CIV-MIDDLEBROOKS/JOHNSON (S.D.F.L.)
SEC v. Virgil G. Williams, Civil Action No. 07-81161-CIV-ZLOCH/SNOW (S.D.F.L.)
SEC v. Sean P. Sheehan, Civil Action No. 07-81164-CIV-MARRAH/JOHNSON (S.D.F.L.)
SEC Files Actions Against Ten Defendants in Fraudulent Kickback Schemes
United States Attorney's Office for the Southern District of Florida Announces Parallel Indictments Against Some of the Same Defendants and Others
The U.S. Securities and Exchange Commission announced today that it filed civil actions alleging securities fraud in five separate kickback schemes uncovered by an FBI sting operation conducted pursuant to a cooperation agreement between the FBI and the Commission. The defendants, who reside in South Florida, New York, California, and Nevada, are insiders or promoters of publicly traded companies who made stock sales to a hedge fund in exchange for illegal kickbacks to an individual whom they believed to be the hedge fund manager, but who was in reality an undercover FBI agent. The five complaints charge the following Defendants with violating Section 17(a)(1) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder: (1) Vincent Cammarata, Rex A. Morden, and Affinity Financial Group, Inc.; (2) William L. Haynes, Efrim Gjonbalaj, and Real Asset Management LLC; (3) Mark Foglia and Western Financial Services, Inc.; (4) Virgil G. Williams; and (5) Sean P. Sheehan.
In related criminal prosecutions, the United States Attorney's Office for the Southern District of Florida ("USAO") today announced the criminal indictments of defendants Morden, Haynes, Gjonbalaj, Foglia and Williams.
According to the SEC's complaints, which were filed in the United States District Court for the Southern District of Florida, the five schemes involved sales of securities in publicly traded companies to a purported hedge fund. To make the sales, the defendants agreed to pay kickbacks to the individual managing the hedge fund. In fact, there was no hedge fund and the purported manager was an FBI operative in the sting operation. The Commission's complaints allege that, in each case, the hedge fund manager told the seller or promoter that the kickback had to be kept secret, because it would violate his fiduciary obligations to the hedge fund. The manager also told the seller or promoter that he had created a phony consulting company to which the kickback could be paid pursuant to a consulting agreement. The sellers or promoters were explicitly told that the consulting entity did not exist, that no actual consulting work would be performed, and that the phony consulting arrangement was simply a means to secretly pay the kickback to the hedge fund manager. All of the defendants agreed to pay a kickback and, with one exception, the defendants paid the promised kickback to the representative after the hedge fund bought the stock defendants were promoting. Every buy transaction by the hedge fund had a material effect on the stock trading volume of the companies in question.
In its actions, the Commission is seeking permanent injunctions prohibiting Defendants from committing future violations of the foregoing federal securities laws, disgorgement of ill-gotten gains plus pre-judgment interest thereon, and civil penalties. The Commission is also seeking an officer and director bar against Williams and penny stock bars against all the individual defendants.
Haynes was previously enjoined from further violations of the antifraud and registration provisions of the federal securities laws following his participation in a $7 million offering fraud. SEC v. Global Asset Partners, Ltd., Case No. 01-8862-CIV-Middlebrooks (S.D. Fla.). In addition, Haynes was previously barred from associating with a broker-dealer based on the entry of the permanent injunction. In the Matter of William L. Haynes, Exchange Act Release No. 45820 (April 25, 2002).
The Commission acknowledges the assistance and cooperation of the United States Attorney's Office for the Southern District of Florida and the Federal Bureau of Investigation in investigating this matter. The Commission's investigation is ongoing.
sec.gov |
