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Non-Tech : GENI: GenesisIntermedia.com Inc -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (236)	8/28/2001 2:36:51 AM
From: peter michaelson	Read Replies (1) \| Respond to of 574

Bangkok Post of August 23 COURT CASES More charges filed in boiler-room cases scoop.bangkokpost.co.th The Securities and Exchange Commission has filed criminal charges against Wellington International for unlicensed securities trading. The charges, which were filed on Tuesday, accuse Heliocentric International, Vadislav Petrov, Roy Kamiew, Byron Hare and Mark Pavick of conspiring together in a ``boiler-room'' operation under the name Wellington International. The SEC said the charges stemmed from an investigation made with Pattaya police following a raid on a boiler-room and the arrest of 17 foreign nationals in May. Evidence included confirmation forms of securities transactions, receipts and marketing brochures soliciting investors to contact Wellington at its offices at the Pacific Place building on Sukhumvit Road. The SEC said the address and telephone numbers listed for Wellington served only as a contact point. Forty telephone lines were discovered registered in the name of Heliocentric International, where Mr Petrov was listed as a director. Mr Kamiew, Mr Hare and Mr Pavick were named as key executives in the operations of Wellington International. Last month, the SEC said Wellington was one of 21 companies suspected of possible securities violations. Regulators say they have received numerous complaints from foreign investors about boiler-room scams and high-pressure sales tactics. Just over 100 people, mostly foreigners, were arrested in late July in a raid on the offices of the Brinton Group and Benson Dupont Capital Management, which are accused of operating a scam spanning 70 countries.