Ziasuns accountants make the news->Starnet’s new auditors are also cooking the books! gamblingmagazine.com
The SEC is suing the crooked auditors and they should end up in jail together with Starnet’s directors and officers.
Benjamin Wong the accountant, and Margaret Carley, the wife of the top man at Starnet have always openly admitted that Starnet was cooking the books and cheating the tax man. Benjamin Wong was even proud of it, but he said that the auditors never checked them, so no worries!
Starnet's auditors materially overvalued assets by 91% plus Pump and dump frauds, plus much more:
THANKS for one of our readers who made his own little investigation and supplied us the information
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 42828/ May 25, 2000
ACCOUNTING AND AUDITING ENFORCEMENT
Release No. 1261/ May 25, 2000
ADMINISTRATIVE PROCEEDING
File No. 3-10210/ May 25, 2000
Proceedings Instituted Against R. Gordon Jones and Mark F. Jensen
The Commission has instituted public administrative proceedings pursuant to Rule 102(e) of the Commission's Rules of Practice against R. Gordon Jones and Mark F. Jensen, two CPAs in Salt Lake City, Utah. Jones and Jensen are charged with having engaged in improper professional conduct by recklessly violating professional accounting and auditing standards in their audit of the 1995 financial statements of a now-defunct Utah corporation, Dynamic American Corporation. Jones, the engagement partner, was primarily responsible for the audit field work. Jensen performed the concurring partner review on the audit.
The Commission previously instituted public administrative proceedings against Dynamic and six individuals based on a 1996 "pump and dump" scheme by which about $4 million in Dynamic stock was sold to the public. See, In the Matter of Jethro J. Barlow, CPA, et al., Exchange Act Rel. No. 41689 (August 2, 1999; In the Matter of Dynamic American Corporation, Exchange Act Rel. No. 41688 (August 2, 1999).
In the order, the Division of Enforcement alleges that Dynamic's financial statements, included in the company's amended annual report on Form 10-K/A filed in November 1996, were not prepared in conformity with GAAP. Specifically, the staff contends that Dynamic's balance sheet improperly listed as an asset certain Bolivian mining properties that were materially overvalued at $36,600,000, or 91% of Dynamic's total consolidated assets. Furthermore, in performing their audit of Dynamic's 1995 financial statements, Jones and Jensen also did not act in accordance with GAAS in that they: failed to adequately plan the audit; failed to obtain sufficient competent evidential matter; failed to maintain an attitude of professional skepticism; failed to exercise due professional care in the performance of the audit; failed to issue a proper audit report with respect to the work performed by other auditors; and by using a lower-of-cost-or-market analysis, did not test the
balance sheet presentation of certain "ore concentrates" valued at approximately $4.3 million.
A hearing will be held before an administrative law judge to determine whether the staff's allegations are true, and if so, whether Jones or Jensen should be censured or temporarily or permanently disqualified from or denied the privilege of appearing or practicing before the Commission.
sec.gov
Bloomberg also reported the story:
Salt Lake City CPAs Accused of Bad Audit on Dynamic American Washington, May 30 (Bloomberg) -- Two Salt Lake City accountants improperly audited Dynamic American Corp., a defunct Utah company that misrepresented the value of its South American mining properties, the Securities and Exchange Commission said.
The SEC alleged in administrative charges that CPAs R. Gordon Jones and Mark Jensen ``recklessly'' violated professional auditing standards in a 1995 audit of Dynamic American, which described itself as a mining company.
Dynamic American's stock registration was revoked last year after the SEC accused it of misstating the value of Bolivian mineral properties acquired in a sham transaction. The financial statements audited by Jones and Jensen overvalued the Bolivian mines at $36.6 million, the SEC said.
Jones's lawyer did not have an immediate comment. Jensen's lawyer could not be reached.
The men face a hearing before an SEC administrative law judge, who will determine whether they should be censured temporarily or permanently barred from practicing as accountants before the commission, the SEC said.
Jensen is contesting separate SEC charges that he was involved with an improper audit of the financial statements of Sky Scientific Inc., a defunct Florida gold mining company, the SEC said. In March 1999, an administrative law judge ordered Sky Scientific, and 16 brokerages, stock promoters and former company executives to pay $14.8 million in penalties after ruling that they illegally touted the company's stock.
May/30/2000 18:05 ET Bloomberg News,
Other related links:
Shady company looking for auditors! Company with huge problems looking for auditors, any auditors, we don’t care, as long as we can find someone in a hurry.
gamblingmagazine.com
The new auditors Jones, Jensen & Company, of Salt Lake City, Utah! What a joke!
gamblingmagazine.com
STARNET'S new auditors will resign when they realize the extent of the massive accounting frauds!
gamblingmagazine.com
No they won't resign they will just cook the book for Starnet, no problem!
IMPORTANT READ THIS:
UNITED STATES DISTRICT COURT DISTRICT OF COLORADO
COMPLAINT FOR VIOLATIONS OF THE FEDERAL SECURITIES LAWS
CLASS ACTION
FALSE AND MISLEADING FINANCIAL STATEMENTS
THE SURPRISE DISCLOSURE OF FIVE YEARS OF UNRELIABLE
FINANCIAL STATEMENTS
VIOLATIONS OF SECTION 10(B) OF THE EXCHANGE ACT AND RULE 10B-5 OF THE SEC AGAINST ALL DEFENDANTS
securities.stanford.edu
And another case
SUPERIOR COURT FOR THE STATE OF CALIFORNIA
COUNTY OF SAN DIEGO
GEORGE JOAKIMIDIS ) Case No. 730826
) CROSS COMPLAINT OF GEORGE
Cross-Claimant ) JOAKIMIDIS FOR:
vs. ) 1. UNFAIR BUSINESS PRACTICES IN BRYANT CRAGUN, LYNN BRIGGS, ) VIOLATION OF CORPORATIONS CODE ANTHONY TOBIN, ZIASUN ) SECTION 17200, ET SEQ TECHNOLOGIES, INC., TITAN ) 2. FRAUD MOTORCYCLES OF AMERICA, INC., ) 3. BREACH OF CONTRACT BEVEX INC., P.T. DOLOK PERMAI, dba ) 4. BREACH OF FIDUCIARY DUTY INTERNATIONAL ASSET ) (FILED CONCURRENTLY WITH MANAGEMENT, JONES, JENSEN & ) ANSWER) ASSOCIATES, and DOES 1 through 100, )
inclusive ) Case assigned to Hon. Janis Sammartino
) Department 71 Cross-Defendants )
EXCLUSIVE INSIDE NEWS!
The majority of the Directors at Starnet want to get rid of Meldon Ellis, and they have secretly offered Claude Levy Meldon’s job. The offer was refused by Claude who will never work for the mob.
The directors have confirmed they are planning to fire Meldon Ellis at the next annual meeting in September. The shareholders are all complaining, and they all want Meldon Ellis out, he is a total failure. To fire Meldon will cost Starnet at least $ 500,000 why not promote him instead, the company has a few vacancies: body guard, cleaning the toilets, and putting stamps on the envelopes!
Meldon Ellis is the most hated person at Starnet, everybody just hates him, so cleaning the toilets will be perfect!
Shame on Starnet to have Meldon Ellis!
This just shows you that this junk company will always be junk!
Some shareholders lost over 20% yesterday with the classic pump and dump! Not bad, 20% in two hours!
You only need to read his latest press release to realize how stupid the man is. "Starnet obtained a default judgment in the party’s absence" Big deal, nobody was informed there was a court case or a hearing, what a loser!
Lawyers have been appointed yesterday in Belgium to challenge Starnet and Meldon Ellis. Their stupid act will be set aside in no time, it is just a simple formality which the court can’t refuse when nobody knew anything about a court case, or a hearing. Nobody served any documents on the three parties involved, easy to get a default judgment in their absence.
A lawyer specialized in international law has already confirmed that Belgium didn’t not have jurisdiction to hear this case.
Meldon Ellis is so crooked, he says that a judgment was obtained against Gambling Magazine and Starnet News, but when you read the original judgment in French, which is the only version that counts, not the fraudulent translation done by Starnet’s lawyers, it says very clearly that Starnet specifically asked the court to reserve their judgement against Gambling Magazine and Starnet News.
The default judgment says:
"Attendu qu'à l'audience la demanderesse a demandé qu'il soit réservé à statuer quand aux deux premières défenderesses;"
Translation:
Starnet asked at the hearing that the decision be reserved concerning the two first parties (Gambling Magazine and Starnet News) This means Starnet asked the judge NOT to take a decision against Gambling Magazine and Starnet News. What a joke, Meldon Ellis is a big crook!
No wonder Starnet is sinking with a crook and a liar running the company!
MORE STARNET NEWS:
- Starnet’s directors offered Las Vegas Casino Inc. ONE MILLION shares in the company as settlement for the lawsuit, plus to waive all the license fees for twelve months. The offer was rejected by Las Vegas Casino Inc.
- Key witness to testify against Starnet in the criminal investigation in Vancouver.
- The directors are totally fed up with Meldon’s total incompetence. To keep them quiet, Meldon has offered them an increase of 100% on their number of stock options. Starnet will need to print more shares again. Because Starnet can’t find any new licensee, the directors were also offered to have their own secret online casino, if they could shut up, and put up with the corruption going on at Starnet.
- The Starnet Island was infiltrated by a group of special agents, stay tuned for the update.
WARNING about STARNET
Who is STARNET?
Worst game developer
Worst software
Worst systems
Worst management & staff
Worst company in the industry
Most broken promises
Biggest lies
Cheat the players and the licensees
Accounting never balances
Criminal charges will be filed
Involved in child pornography
Most fraudulent misrepresentations
Worst affiliate program
Never give them your credit card number
Expert for cooking the books
Their auditors also cook the books
Rigged games
Directors and officers left the country
Slowest to pay the players, if they pay at all
Massive stock scams and manipulations
Worst over-billings
Most inefficient game developer
Worst licensees
Most corrupted game developer
Worst technical support
Biggest crooks
The mob controls the company
If you are a potential Starnet’s shareholder, licensee, or just a player wanting to use their software, DON’T do anything before you read:
SPECIAL Coverage of
STARNET'S huge problems
and
StarnetNews.com
discover the real Starnet, the real nightmare!
--------------------------------------------------------------------------------
The most comprehensive and best source of gambling news on the whole Internet:
CasinoMagazine.com
--------------------------------------------------------------------------------
Quotes to Ponder
"From what we get, we can make a living; what we give, however, makes a life." -- Arthur Ashe
gamblingmagazine.com |
