Based on what I was able to find, I doubt that anyone would even want to use this company as a shell (well, maybe after they clean it up, and reverse-split it 1000:1):
SEC v. CHESTER HOLDINGS, LTD., FORMERLY NAMED AQUA BUOY CORPORATION, JOSEPH PIGNATIELLO, CONSTANCE PIGNATIELLO AND CHRISTOPHER WERNER
The Commission announced today the filing of a complaint in the
United States District Court for the District of New Jersey against
Chester Holdings, Ltd. (formerly named Aqua Buoy Corporation) (Aqua
Buoy), Joseph Pignatiello, Constance Pignatiello, and Christopher
Werner (Werner), alleging financial fraud and insider trading.
The complaint alleges Defendants engaged in a financial fraud
involving the dissemination of materially false and misleading
information about Aqua Buoy and sales of company stock at inflated
prices by Joseph Pignatiello, Constance Pignatiello, and Werner, who
were officers and directors of Aqua Buoy and who knew the truth
behind the false picture of the company presented to the public.
gsionline.com
It seems the same people who were officers of CHES, were also involved in the following:
SECURITIES AND EXCHANGE COMMISSION v. JOSEPH PIGNATIELLO, JOHN FASANO,
JAMES MANAS, ROBERT MARSIK, MARK PIERCE, PETER MAZZEO, and CONSTANCE
PIGNATIELLO;
United States District Court for the Southern District of New York; 97 Civ. 9303.
SEC v. Pignatiello, et al.
The Commission's complaint, filed in Manhattan, alleges as follows:
From September 1995 through early 1996, defendant Joseph Pignatiello
directed schemes to manipulate the markets for securities issued by
Spaceplex Amusement Centers International Ltd, Inc. (Spaceplex), a Nevada corporation which operated a family amusement center in St. James, New York, and America's Coffee Cup, Inc. (ACC), a Colorado corporation that sold coffee through one supermarket chain in southern California. For both Spaceplex and ACC, Pignatiello was hired by senior management of these companies to manipulate the over-the-counter markets for the companies' common stock in anticipation of making secondary public offerings based on the artificially pumped-up markets for these securities.
sec.gov
Milk
P.S. 'Heavy buying' can sure make this stock move, just remember someone will be left holding the bag JMHO |
