SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Mar 7 3:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: wlcnyc who wrote (24639)1/30/1999 9:30:00 PM
From: jhild  Read Replies (2) of 43774
 
Strictly speaking, the case was brought by the Virgin Island Housing Authority, which cancelled a contract with a company a Carl Kruse was also involved with. In settling the contract cancellation, bills were submitted for work that the Housing Authority paid but discovered was not performed. Since they were receiving funds from the US Government, they sued to recover on behalf of the government. (Such actions reap a bounty of a percentage of the funds recovered. It seems that the bounty is bigger if the action is successful, unless the US Government joins in the action, which they did with the issuance of this press release.)

arentfox.com

Since what is described is a civil action there are no criminal fraud charges apparently associated as a part of this action, though it is possible that this was not the only legal action arising out of this activity. (Carl Kruse may well have been charged in a separate criminal action, but I cannot see any record of that on the internet at this point.)

But the actions described there certainly seem to have involved fraudulent acts.

I have not seen any disposition on this civil case one way or the other.

My opinion is that Rosario is over characterizing Carl's record based on what I can see, though the statement that he offers that Carl has answered email that he directed to John Schmitz, may suggest that John Schmitz may have been less than forthright in asserting that Carl Kruse has had no involvement with PRWT.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News