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Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar)

VNE 36.95

0.0%

Apr 1 5:00 PM EST

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To: chicoman who wrote (799)	3/10/1999 2:23:00 PM
From: Ian@SI	of 974

c, One place I find some info is the Vancouver Sun. Try the story on page D1 of today's business section. vancouversun.com Does the last line in the extract from the story remind anyone of VNE's current activity. (HINT: IF not, I believe it should.) The Story starts: Suits filed against Stanhiser, Canaccord The Vancouver Sun David Baines, Sun Business Reporter Vancouver Sun U.S. investors in a stock scheme orchestrated by former Seventh Day Adventist pastor Gary Stanhiser have filed lawsuits in California and Washington state against him and a string of related parties. Heading the list of defendants in both actions is Vancouver-based Canaccord Capital Corp., which allegedly helped Stanhiser funnel investors' money to offshore companies for reinvestment in public companies, most listed on the Vancouver Stock Exchange. The plaintiffs claim they did not receive their shares or recover their money, and are suing for fraud, breach of contract, breach of fiduciary duty and violation of the Racketeer Influenced and Corrupt Organization Act, commonly known as the RICO Act. The B.C. Securities Commission has alleged that Stanhiser -- who operated from offices in San Bernardino and Vancouver -- and associates Del and Linda Knowlton of Langley raised $15 million from about 300 investors in the U.S. and Canada. The commission alleges the scheme was designed to circumvent rules prohibiting the sale of stock to individual investors in amounts less than $25,000 without a prospectus or offering memorandum.

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