The Pacific Continental Group of companies are wholly owned by Zetland Financial Group. Zetland is a Hong Kong based private company founded in 1987, with an excellent reputation and extensive business contacts in mainland China and other parts of the Pacific Basin. Zetland Group companies are regulated in Hong Kong and Switzerland, Germany and the UK. ( www.zetland.biz)
Then know this:
The people behind Zetland used to be involved in a company called Momentum Campaigns in Hong Kong. One Zetland Director, Jack Flader, was a Director of Momentum Campaigns. This was an “Internet company”. They supported the web sites of other companies, including the early versions of Pacific Continental (PCS). Those early PCS sites touted such stocks as eSat and Accesspoint.
Zetland used be called Gemini. They had a subsidiary called Pacific Capital Group ltd (PCG), also of Hong Kong, same address as Zetland. PCG was an early shareholder in the predecessor to eSat. Other figures behind eSat include Regis Possino of Corporate Financial Enterprises, 2224 Main St., Santa Monica, California. PCG was also involved with Accesspoint. So is Reid Breitman of GCH Capital. GCH’s address is 2224 main St., Santa Monica, the same as Possino’s. Jack Flader filed form 144 to sell more than 60,000 eSat shares in 2000 for more than $300k. the same year, 2000, another boiler room, Steinmorgan, was touting eSat shares (like yours, rule 144). Those who bought in 2000 saw their investment worthless by 2001.
================================================================
Re: US SHARES rip off recomendations
#2 10th Dec 04, 7:00 AM
Hi Woody,
First off it will be a long time, if ever, that you’ll see your cash again. Go to www.pacconsec.com to read this:
++++++++
REGULATIONS S SECURITIES
We may on occasion purchase securities for your account which are exempt from the requirement of registration in the United States pursuant to Regulation S of the Securities Act 1933, as amended. These securities are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under the Securities Act 1933, as amended, and the applicable state securities laws, pursuant to registration or exemption there from. You should be aware that you may be required to bear the financial risks of this investment for an indefinite period of time. Regulation S securities can only be held by non-US residents and citizens and cannot be registered in the United States for twelve months from date of issue. The effect of this is that you can only sell these securities off-exchange during the twelve month period and only to non-US persons. Thereafter the securities can be sold into US markets pursuant to securities registration or an applicable exemption from registration. No hedging transactions with respect to the securities may be conducted unless in compliance with US securities laws. Consequently, in addition to the high risks inherent in dealing in small capital market securities, you run an extra risk of losing money when you buy shares in "restricted" or "non readily realisable" securities due to the difficulties in selling such securities. You should be aware that we and our associated companies may receive an additional fee, ultimately paid by the issuing company, in respect of our role as introducing broker for these securities.
+++++++++++++++
Then this:
++++++++++++++
The Pacific Continental Group of companies are wholly owned by Zetland Financial Group. Zetland is a Hong Kong based private company founded in 1987, with an excellent reputation and extensive business contacts in mainland China and other parts of the Pacific Basin. Zetland Group companies are regulated in Hong Kong and Switzerland, Germany and the UK. ( www.zetland.biz)
+++++++++++++++++
Then know this:
The people behind Zetland used to be involved in a company called Momentum Campaigns in Hong Kong. One Zetland Director, Jack Flader, was a Director of Momentum Campaigns. This was an “Internet company”. They supported the web sites of other companies, including the early versions of Pacific Continental (PCS). Those early PCS sites touted such stocks as eSat and Accesspoint.
Zetland used be called Gemini. They had a subsidiary called Pacific Capital Group ltd (PCG), also of Hong Kong, same address as Zetland. PCG was an early shareholder in the predecessor to eSat. Other figures behind eSat include Regis Possino of Corporate Financial Enterprises, 2224 Main St., Santa Monica, California. PCG was also involved with Accesspoint. So is Reid Breitman of GCH Capital. GCH’s address is 2224 main St., Santa Monica, the same as Possino’s. Jack Flader filed form 144 to sell more than 60,000 eSat shares in 2000 for more than $300k. the same year, 2000, another boiler room, Steinmorgan, was touting eSat shares (like yours, rule 144). Those who bought in 2000 saw their investment worthless by 2001.
Momentum was taken over by a company called Ziasun. Somebody called Bryant Cragun was behind Ziasun. He ran a manila boiler room called Oxford International Management. He was touting stocks he was involved in like Titan Motorcycles and Chequemate, all duds.
Accupoll staff include Chett Noblett and Andreea Porcelli. Chett was in charge of eSat. Andreea was involved in Junum. The previous CEO of eSat, David Coulter, used to be CEO of eSat.
Exhibit 10.34 of Accupoll SEC filing 10QSB for 30 Sept 2001 shows a warrant agreement with “Bella Donna” Limited. Jack W. Flader Jr signs as authorized signatory for Belladonna. The same person who was then probably still director of Momentum, was then director of PCG and Gemini, and who is now a director of Zetland. Zetland owns PCS. The Spanish version of the SEC warned on line of PCS European Administration (their Spanish branch) acting illicitly. The person in charge was named there as James Sutherland, another Zetland director. The same warning associated him with PT Dolok Permai, an Indonesian boiler room, and another name for International Asset Management, yet another boiler room, and again run by Cragun.
And so it goes on. What I wrote is just the tip of the iceberg. Maybe I can do some more digging, but I need more facts. What other companies were recommended to you by PCS? When you transferred funds, how were they routed, and through which companies? Was there any involvement with A-Street Capital of Chicago, or any company in Hong Kong? You need to collect ALL your facts, names (although you'll find many are fake), phone numbers and so on, however seemingly trivial.
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Re: US SHARES rip off recomendations
#3 10th Dec 04, 7:38 PM
Thanks Zetlandinquirer ,I have bought six shares direct from PC, ACCUPOLL,GASEL TRANSPORTATION,GOLDSPRING,MEDIAWORK ,NEW VISUAL AND CRESCENT COMMUNICATIONS NOW [BLUEGATE].All of these shares where talked up to the hilt by the broker .I NEED AN EXIT STRATERGY SELL UP IF AT ALL POSSIBLE OR HOLD ON? :'(THANK YOU.WOODY.
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Re: US SHARES rip off recomendations
#4 10th Dec 04, 7:44 PM
You should also read this article. Pacific Continental Securities seem to give advice on the basis of how much commission they get, not what is best for you. Don't buy anything else through them.
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Re: US SHARES rip off recomendations
#5 10th Dec 04, 8:58 PM
“
 I have bought 15,000 pounds worth of US Securities foolishly after much pressure from my broker PACIFIC CONTINENTAL SECURITIES UK LTD,all six companies where obviously
”
I'm afraid, youve been scammed !
ACCUPOLL is beign quoted a 10 cents. High 3.85, low .08.
Exactly when did you buy them at 65cents ? Must have been a while ago.
The 1 year sell rule ??? Don't know anything about that, but would explain the run up over 10 months and the subsquent sell off as the 1 year holders started hitting the market with sell orders, off course long after the boiler room had liquidated.
It happens, to all of us.
Me, it was a futures broker in 1988, promises of x thousands trading commodities on my behalf, using gann angles and elliot waves. !Well all they did was generate commission for themselves and take the rest with them when they folded.
I suggest people watch the film boiler room, then you get the picture of what's going on.
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Re: US SHARES rip off recomendations
#6 12th Dec 04, 1:36 AM
Unlike the experts over at PCS I am not licenced to offer investment advice.
In terms of general advice, however, no licence is required.
All you need to do is make a decision. There are 3 choices – To do nothing, to attempt to overcome the 15k losses by trading, or to try and get your money back from PCS.
Assuming that option 3 appears the most appealing, then you have to collect all your correspondence with PCS and analyze it, looking for misrepresentation of facts .
Despite their disclaimers and warnings, that are general, and on a web site, you need to establish if the salesman gave to all the facts when pushing the companies on the phone. Did he disclose the PCS interest, or the interest of its employees, directors or associate companies in those promoted stocks? Did he tell you that PCs was to receive commission in some form if you bought these Reg. S shares? If he did not, and if PCS did have a link to the company he was promoting (and you can be pretty sure they did), then it can be argued that the salesman was withholding relevant information. Did he announce that any one of those companies had a pending “massive deal” with a well-known, even household name? If he did and that was not true, then it’s misrepresentation.
By the way, did you know that in The Netherlands, for example, all touting of stocks over the phone is illegal?
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Re: US SHARES rip off recomendations
#7 12th Dec 04, 1:48 AM
Take Goldspring you mentioned, as an example. The following is from their US SEC Filings:
+++++
On September 16, 2003, we issued an additional 15,600,000 common shares to our shareholders of record pursuant to a forward stock split. In September 2003, prior to the forward stock split, we completed a $2,000,000 equity raise. The financing consisted of two phases. Phase One was a $250,000 private placement of 2,000,000 restricted common shares at $0.125 to private accredited investors. Phase Two was also an equity financing, which was completed with a London Stock Exchange Listed Investment Trust, generating $1,785,008 in exchange for 36,000,000 restricted shares of our common stock. This Investment Trust also received an additional 3,600,000 restricted common shares pursuant to forward stock split in September 2003. We used the funds raised in this private placement to acquire The Plum Mining Company, LLC in November 2003 and to commence test-mining operations at Plum’s Billie the Kid open pit mine and for general corporate purposes.
+++++
Your Goldspring shares may have come from Phase One. If so, the PCS profit was the difference between what you paid and US$0.125. Why not ask them if this is true? I suspect they sold to you at the previous day’s close less 10% “discount”, i.e. considerably more than $0.125.
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Re: US SHARES rip off recomendations
#8 12th Dec 04, 2:07 AM
“
Unlike the experts over at PCS I am not licenced to offer investment advice.
”
They arent either but as they are not based in the UK, there is little that can be done about it.
“
In terms of general advice, however, no licence is required.
”
Yes it is. However, pointing out generic options for investigation or discussion requires no licence. A slight play on words but the minute you say advice in an area of regulated financial services, you need a licence.
“
snip..
Despite their disclaimers and warnings, that are general, and on a web site, you need to establish if the salesman gave ...snip
”
Its all very well saying that (and the rest i snipped to save space) but what you are going to do about it?
Do you fancy taking them to court in their country of origin? Very expensive, time consuming and they may not have broken the laws of that country. You cannot complain to the UK regulatory bodies as they have no juristication over these scammers.
You can report it to the FSA who will no doubt have a dosier on these people and in turn may pass that information on to the authorities of the country they are in and leave it to them. That wont help the "investor" much though.
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Re: US SHARES rip off recomendations
#9 12th Dec 04, 12:50 PM
Hi
This instance has happened to alot of people. Alot of people have been taken in to buy american stocks with american brokers phoning up people in the uk. I would urge people not to buy any stocks at all.
Most of there american share certificates you will find restrictions stamped on the front of them. This means you will not be able to deal with them for over a year and will have to fill out a form and send this to a stockbroker that is prepared to try and sell them for you. This will involve appealing to the company secretary as well as getting american lawyers involved to try and get the restriction lifted. This will cost around £500 and take anything up to at least 6 months.
I hope this helps.
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Re: US SHARES rip off recomendations
#10 12th Dec 04, 3:01 PM
Thank you all again for your comments especially Zetlandinquirer for your comments and advice.I will go forward and concentrate on markets in the UK. I will also be phoning PCS AGAIN. I also find it sad people can work for companys like this,
conning JOE PUBLIC and live with themselves ,THANK YOU ONCE AGAIN WOODY56.
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Re: US SHARES rip off recomendations
#11 15th Dec 04, 7:03 PM
There is a simple rule that can be followed to avoid being caught in scams like this:
Never, never, never (C) Martin Lewis 2004 buy investments from someone who cold calls you to make the recommendation.
If someone is telling you about a great investment, why are they not simply borrowing as much as they can and buying it themselves?
As well as watching "Boiler Room" you should also take a look at The Motley Fool financial scams board.
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Re: US SHARES rip off recomendations
#12 23rd Dec 04, 10:13 AM
Here is a site to look at about these Boiler Rooms. He is current suing several of the individuals involved and is looking for other who may have been scamed. oxford-international-management.com .
I have the misfortune of knowing Bryant Cragun personally, i was engaged to one of his daughters. The whole family are crazy, i am also suing them in a Utah Court and in California superior court. Stay away from anything involving Bryant Cragun.
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Gaskel
#13 8th Oct 09, 12:56 PM
“
Thanks Zetlandinquirer ,I have bought six shares direct from PC, ACCUPOLL,GASEL TRANSPORTATION,GOLDSPRING,MEDIAWORK ,NEW VISUAL AND CRESCENT COMMUNICATIONS NOW [BLUEGATE].All of these shares where talked up to the hilt by the broker .I NEED AN EXIT STRATERGY SELL UP IF AT ALL POSSIBLE OR HOLD ON? :'(THANK YOU.WOODY.
Originally posted by woody_56”
I have recently been approached by a company (PENN CAPITOL) claiming my shares in gaskel were taken over by Precision aerospace snd another company is looking to acquire them. They require £6,000 to lift REG S restriction but then would buy for £40,000. It has been impossible to check out their credentials and I do not know if this is a scam to compound my losses or a chance to make back.
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#14 8th Oct 09, 1:17 PM
“
It has been impossible to check out their credentials and I do not know if this is a scam to compound my losses or a chance to make back.
Originally posted by rbwillows”
It's a scam. Have a look here.
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