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Non-Tech : LVEN:NASDAQ--Las Vegas Entertainment Inc. -- Ignore unavailable to you. Want to Upgrade?

To: surelock who wrote (67)	10/14/1999 2:25:00 PM
From: Janice Shell	Read Replies (5) \| Respond to of 228

Oh wow. It seems to me that the real problem here lies in ascertaining with certainty whether the "Cruz family" actually does have those B.N.I. Bank Indonesia guarantees that they say they're gonna pledge to U.S. Guarantee. Why would they have them, I wonder? Can I get some too? This is good: "That all bank guarantees are free and clear of leans, hypothecation, and encumbrances". "Leans", snicker? PR written by a financial pro... This is also interesting: "The guarantees are enforceable under the laws of the United States of America, are freely assignable without notification and without conditions, and that the instruments are backed by clean US funds clear of any criminal origin". And what does this mean?: "These shares will have demand registration rights but will bear a legend stating in substance that the securities represented hereby have not been registered under the securities act of 1933, as amended, or any securities law and may not be offered, sold or otherwise transferred, pledged or hypothecated unless and until registered under said act and such laws, or such offer, sale or transfer, pledge or hypothecation is otherwise exempt from registration under said act and said laws". I'm a bit confused. Does this mean that Fred can demand to register the shares anytime he likes? And I thought it had been established that Fred isn't really a doctor. Though we know, of course, that Alvin Tang of U.S. Guarantee is a convicted felon, found guilty of fraud and forgery. Would you trust him with instruments worth $400 million? Should someone warn Fred, lol?

To: surelock who wrote (67)	10/15/1999 1:41:00 PM
From: Jeffrey S. Mitchell	Read Replies (2) \| Respond to of 228

Upon further review, I'm still not clear how LVEN will ever actually see money from the Cruz deal as outlined in yesterday's PR. There are so many layers, i.e. encumbrances. First off, we have to believe Cruz actually has BNI bank guarantees worth $400M. Anyone who has read quatloos.com about HYIPs and anyone who has checked into the shady past of BNI bank knows the dubious nature of such an instrument. Furthermore these things don't mature until March, 2000, so who knows what further stipulations apply to them that might even render them worthless prior to that date. In any event, "The U.S. Guarantee Corp. has agreed through cash instruments to fund $70 million within 5 business days, $75 million within 30 days, $75 million within 60 days, $80 million within 90 days, and $100 million within 120 days of the first payment..." Recall this was from Exhibit B of the SC14D1 filing, dated July 28, 1999. By now Cruz should have $220M in his pocket, meaning that LVEN should have their promised $190M in cash right now. Where is it? Wouldn't any such conveyance be legally executed and thus on file with the Maricopa County recorder? No such records exist. Also note from Exhibit A of the SC14D1 the following trusts: Rick Eriksen Family Trust - 500,000 shares Federico Cruz II Family Trust - 500,000 shares Ronald F. Cruz Family Trust - 500,000 shares Melvin Gary Cruz Family Trust - 500,000 shares Federico Cruz Cordero Family Trust - 500,000 shares Dr. Fred Cruz Family Trust - 500,000 shares Are any of these "the Cruz family Trust" as mentioned in the PR? Perhaps all of these combined are? What did Cruz do to deserve getting all those shares? What restrictions are on them? Are they still there? - Jeff