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Microcap & Penny Stocks : cysi - CYSI - CYBERFAST SYSTEM -- Ignore unavailable to you. Want to Upgrade?

To: Crispin who wrote (88)	9/18/1999 12:31:00 AM
From: dumbmoney	Respond to of 97

US National Dupes VSNL of Rs. 3,500 million indiapost.com INDIA POST S ASIA BUREAU NEW DELHI: A Miami-based American national, Edward Stackpole has allegedly duped the Videsh Sanchar Nigam Ltd of Rs. 3,500 million by leasing the VSNL-leased international lines to call-back operators in the United States. VSNL had leased these lines for transferring voice and data on point-to-point basis to US- based offices on which the operator ran international call-back services. This explicit flouting of VSNL's guidelines and the scale of the fraud was detected by combined teams of revenue intelligence agencies and VSNL's technical staff when they raided three premises in Mumbai, Delhi and Chennai on August 31. Documents seized on the spot revealed that in the past 18 months a mammoth six million calls made on the leased circuit to Delhi alone and roughly the same number of calls were made on the circuit linking Chennai to the US. About three million calls on the third circuit based in Mumbai. According to senior intelligence official, the modus operandi of the racket was near 'flawless'. After giving an undertaking to VSNL that the leased circuits will not be used for making ISD calls, the American national obtained a similar certificate from Sprint-a leading US-based carrier. Then seemingly in connivance with the US carrier, Stackpole leased out the circuits to call back operators. The official TAR rate which is paid to VSNL by an US carrier is $ 1.58 per minute. Against this, the operators offered much cheaper rates to NRIs and reaped in huge sums. On the Indian side, Stackpole hired three premises in the three metros and installed latest computer-operated telecom equipment to man the 210 telephone lines. Young marketing agents were hired to rope in potential callers with the incentive of attractive monthly packages. Thanks to the computerized networking, a customer from India had to just call the US number and disconnect the line. All that was found on the premises were three suitcase-sized sophisticated computers manning the calls. There were 210 telephone lines linked to the circuits at the three metros. A couple of marketing agents who were found on the spot were interrogated for assisting in the long-running fraud.

To: Crispin who wrote (88)	9/18/1999 12:46:00 AM
From: dumbmoney	Read Replies (2) \| Respond to of 97

The India Post article (courtesy Bill Mann) is the last piece of the puzzle. It confirms that Stackpole/Cyberfast was running a large, illegal operation in India. It was apparently very profitable, but all the profit was distributed to the Stackpoles prior to Cyberfast going public. Further, the telecom equipment in India was confiscated and Cyberfast's revenues dropped to zero - prior to going public! (The reverse merger happened on Nov. 10) Not only is shareholder equity zero (actually negative) today, it was zero when Cyberfast went public. Despite this, the alleged criminal Stackpole put out misleading PRs boasting of the company's 1998 revenue, and past and current profitability.