Remington-Hall (REMH) Message Board

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Microcap & Penny Stocks : Remington-Hall (REMH)

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To: leigh aulper who wrote (35)	10/23/1998 7:55:00 PM
From: Arcane Lore	Read Replies (1) of 48

The Dallas Morning News had a story on the SEC lawsuit. A short excerpt may be of interest: SEC trying to shut down Internet sales scam ... The bulk of Remington-Hall's assets, according to the SEC suit, are what the agency calls "dubious" real estate holdings. Mr. Fonteno and his firm are alleged to have suggested to potential investors that Remington-Hall controls approximately $30 million in those properties. "In truth and fact, Remington-Hall does not own most - if not all - of the properties it claims and has no revenues other than its receipts of investor funds," the SEC suit says. Robert M. Mow, who served as vice president of finance under Mr. Fonteno, signed a statement for SEC investigators on Oct. 19 and revealed that Remington-Hall now "has no source of revenue and has approximately $25,000 in its bank accounts." ... dallasnews.com

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