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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (12124)	10/20/1999 9:32:00 PM
From: john	Respond to of 150070

Vancouver Stock Exchange - Street Wire VSE broker, third out in Kamerling affair, sued by unhappy client Mon 18 Oct 99 by Brent Mudry The main Vancouver branch of CIBC World Markets and its recently-departed art-collecting broker Peter Miles face a suit from an unhappy client who claims Mr. Miles did unauthorized trading, churned her accounts and failed to disclose certain benefits received. The suit, launched Friday in the Supreme Court of British Columbia, was filed the day before The Vancouver Sun reported in its lead front page story that the police have halted numerous fraud investigations due to a lack of resources. Reporter David Baines highlighted a Kamloops couple who lost $450,000 (U.S.) in an OTC Bulletin Board scheme perpetrated by promoters Beverlee Kamerling of Victoria and Seattle and Nik Markovina of West Vancouver. Mr. Miles' dealings in one of the pair's promotions attracted unfavourable media attention in the Sun in January. The United States Securities and Exchange Commission recently settled its penny stock prosecution against Ms. Kamerling, a notable graduate of the Vancouver Stock Exchange, the exchange formerly known as the Scam Capital of the World. The SEC ordered Ms. Kamerling to disgorge $1.48-million (U.S.) in ill-gotten gains in the United Fire Technology affair. In consent settlements disclosed on Sept. 3, a U.S. judge levied a total of $1.81-million (U.S.) in disgorgement fines against Ms. Kamerling and her co-conspirators. Ms. Kamerling, now 55, is well known in Vancouver from her Ultra Glow Cosmetics days. The VSE promoter, then known as Beverlee Claydon, pleaded guilty in 1987 to six counts of unlawful trading in Ultra Glow shares. The British Columbia Securities and Exchange Commission imposed a recently-elapsed ban on serving as an officer or director. Mr. Miles appears to be the third of the Kamerling-Markovina Vancouver brokers to exit the industry in the past year and a half. Trent Jordan was fired by Levesque Beaubien in May of 1998 after he loaded up a client's account with shares of International Indigo Industries, a sunken treasure promotion, according to Mr. Baines in a December article. The Seattle company feature banned Vancouver broker Ron Crimeni as its president. (Just after being fired by Levesque, Mr. Jordan was hired by Goepel McDermid for a one-month stint.) The second Kamerling-Markovina broker to consider his career options is Ron Henrickson of Union Securities. Mr. Henrickson ended a 10-year tenture at Union on April 8, according to the registration database of the British Columbia Securities Commission. The now-former Union broker told The Sun in February that that he was under investigation by officials of the VSE for his dealings with Mr. Markovina. Mr. Miles is also out of the industry, at least for now. The registration of this third Kamerling-Markovina broker was terminated on July 26. The termination ended Mr. Miles' 8-year career at CIBC Wood Gundy. Before that, he served stints as a broker at Midland Walwyn Capital and Dean Witter Reynolds since at least 1983. Mr. Miles' Kamerling-Markovina dealings were exposed in January, when Mr. Baines revealed the broker received at least two paintings from Mr. Markovina, who was promoting International Indigo. The CIBC Wood Gundy broker first denied any knowledge of the paintings, then admitted he received some "very ugly paintings" by abstract artist Sky M. Jones from Mr. Markovina. The Sun noted Ms. Kamerling had acquired four dozen of the Sky paintings, appraised collectively at $4.9-million (U.S.) and individually at a minimum of $50,000 (U.S.). VSE vice-chairman Chris Lay, CIBC World Markets' Vancouver branch manager, refused to comment on the matter, although Mr. Miles' registration was quietly terminated six months later. Mr. Lay told the media that neither he nor CIBC World Markets discuss client or personnel matters with the media. The VSE vice-chairman could not be reached for comment Monday on the lawsuit. The named defendants in the action are CIBC World Markets, Wood Gundy Private Client Investments, Wood Gundy Financial Services and Mr. Miles. While an full statement of claim has not yet been filed, an endorsed writ-of-summons notes the claim of former client Teresa Barkwell is for negligence and breaches of contract, duty and fiduciary duty, arising out of the "mismanagement" of her investment funds. Lawyer Craig Dennis of Sugden McFee & Roos notes that Ms. Barkwell opened her accounts in July of 1993, with Mr. Miles serving as her broker. The suit claims that from this date until sometime in 1995, Mr. Miles entered into transactions without her knowledge or consent, failed to carry out her instructions, invested her funds in unsuitable and undesirable investments, and churned her accounts. The suit does not identify the stocks involved. The suit also claims that Mr. Miles and the brokerage failed to provide Mr. Barkwell with accurate, truthful and professional advice and information about proposed or completed transactions. Mr. Dennis further alleges that Mr. Miles and the brokerage "failed to disclose to the plaintiff material information concerning the interest in transactions made by them on the plaintiff's behalf, or the benefit received by one or more of the defendants as a result of the said transactions." Court documents do not mention the paintings or any other benefits received. Mr. Dennis claims that Mr. Miles failed to act in the best interests of his client, and CIBC World Markets is vicariously liable for its broker's actions. Statements of defence have not yet been filed.

To: CIMA who wrote (12124)	10/20/1999 10:23:00 PM
From: Jim Bishop	Read Replies (3) \| Respond to of 150070

KAZZ questions: <An anonymous director reports> Huh???? Which director signed the news release? And why is one anonymous. Weird. KAZZ owns, by my calculator, 2.63% of i360, so what the heck is the big deal here?? All the news lately, and most of the upcoming news, according to one source, is on i360, but I just don't get what the big deal is here. What's happening with KAZZ main business, snowboards, and the goggles??? Nice move in the stock price today, so I suppose it means something.