READ THIS ARTICLE.
wired.com
just posted this morning. If this doesnt reek of a
total scam, I dont know what does. I have been warning
to stay wary of this company all along, but I never had
any evidence that they were actually a scam. Looks like
some reporter at wired did a lot of due dilegence and
NETZ looks dangerously close to being history.
some choice quotes:
>But the troubled history of one of the company's key backers - >Pattinson Hayton, an Australian financier who engineered the >Softbank Interactive buyout - raises questions about the company's >current behavior and its long-term strategy.
>Hayton has been sanctioned repeatedly over the last 15 years by >securities regulators in both the United States and Great Britain, >in actions by both administrative and judicial bodies, and has been >named by business partners in a string of lawsuits alleging >financial impropriety. In 1991 the Immigration and Naturalization >Service ordered him to be deported, which he avoided by marrying a >US citizen. And at least one member of Hayton's supporting cast at >Zulu-Tek has also suffered professional sanctions for alleged >financial mismanagement of public funds.
and then later, from the big cheese herself:
>"Insiders can post positive messages about the performance of a >company, and when they feel like it has reached a point where they >can cash out, they just sell the securities and leave the new >investors holding the bag," said Denise Voigt Crawford, president of >the North American Securities Administrators Association, which >represents the securities regulators of all 50 states.
>"It makes pump-and-dump schemes very easy." |
