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Microcap & Penny Stocks : Computerized Thermal Imaging CIO (formerly COII) -- Ignore unavailable to you. Want to Upgrade?

To: Smartypts who wrote (4759)	6/30/2000 2:00:17 PM
From: StockDung	Read Replies (1) \| Respond to of 6039

Head of Anti-Web Fraud Co. Resigns .c The Associated Press SANTA ANA, Calif. (AP) - The president of a company that wants to protect Internet shoppers from fraud resigned after admitting he lied about his past, which included prison time for a cocaine conviction. ``I have a little bit of a checkered past,'' Mazzamuto acknowledged in Friday's Orange County Register. Tony Mazzamuto unwittingly exposed himself last week when he complained to the media that Southwest Airlines asked him to buy two tickets because he weighs 400 pounds. The news reports led people who knew Mazzamuto's history to call the Register and the Orange County company he co-founded last fall, Cyberbuck Corp. Mazzamuto, who also spells his name Mazamuto, resigned Tuesday and admitted he had served three years in prison for possessing cocaine and carrying a gun as a convicted felon. Mazzamuto, who was paroled in 1994, also lied about his education. He said he had degrees from the University of California, Los Angeles and the University of Colorado at Greeley. There is no University of Colorado at Greeley - the University of Colorado is actually in Boulder, while the University of Northern Colorado is in Greeley. None of the schools has a record of Mazzamuto. Cyberbuck, which employs about 40 people, hopes to launch a site this summer to sell prepaid shopping cards to on-line consumers who want to protect their credit card numbers from hackers. Investors have funneled nearly $1 million into Cyberbuck. The company is considering an initial public offering of stock next year, which would have forced disclosure of Mazzamuto's criminal convictions. The desire to cash in on the next Internet bonanza causes some investors to skip basic research, said Mark Wilson of Tarbox Equity Inc. in Newport Beach. ``It's just a mania. People are just willing to throw money into these projects,'' Wilson said. Mazzamuto said he lied because ``people want to hear what they want to hear.'' The company said Mazzamuto resigned because of ``philosophical differences,'' but Mazzamuto said the board of directors confronted him after learning about his past. AP-NY-06-30-00 1254EDT