"Anthony Elgindy, investigative director of research at Pacific Equity and
editor in chief for Insidetruth.com, said many ties between Khashoggi and bin
Laden have been pinpointed but said details were disclosed only to the FBI and
the Federal Communications Commission to protect the integrity of any
investigations."
""We are 1,000 percent sure we can directly or indirectly connect Khashoggi to
bin Laden or the Taliban," Elgindy said. "We think we can prove that." "
==========================================
S. Utah company may have indirect ties to terrorists
09/28/2001
The Spectrum
Investigation links primary stockholder in parent company to bin Laden; Nasdaq
halts trading for GenesisIntermedia.com
By PATRICE ST. GERMAIN
ST. GEORGE – A St. George business’s parent company has had its stock sales
halted by NASDAQ, but company officials say they have no comment on how or if
the halted trading will affect the local company that employs 180 people.
The company, GenesisIntermedia.com Inc., as it is licensed through state and
local business licenses, is listed as Genesis Media Group in the telephone
book. The parent company, GenesisIntermedia, based in Van Nuys Calif., has two
primary stockholders – Ramy El-Batrawi and Saudi financier Adnan Khashoggi, a
financial middleman in the Iran-Contra scandal of the 1980s.
Not only was Khashoggi connected with the Iran-Contra scandal, he forfeited
almost $7 million in insider-trading profits to GenesisIntermedia at the
beginning of September and more recently has been linked to known terrorist
Osama bin Laden by InsideTruth.com, a company wholly owned by Pacific Equity
Investigations, an equity valuation research center.
Anthony Elgindy, investigative director of research at Pacific Equity and
editor in chief for Insidetruth.com, said many ties between Khashoggi and bin
Laden have been pinpointed but said details were disclosed only to the FBI and
the Federal Communications Commission to protect the integrity of any
investigations.
"We are 1,000 percent sure we can directly or indirectly connect Khashoggi to
bin Laden or the Taliban," Elgindy said. "We think we can prove that."
A trading halt was placed on GenesisIntermedia Inc. on Tuesday at 4:55 p.m.
EST. On the NASDAQ Web site, two reasons were next to the GENI stock as to why
trading was halted. One is the pending release of material news and the other
is the pending receipt of additional information requested by NASDAQ.
Although the St. George company is directly linked to the Van Nuys company,
human resource director Shirise Falco said the company had no comment regarding
the company. Repeated calls to the Van Nuys company were not returned.
With 180 employees, Genesis Intermedia.com Inc., or Genesis Media Group, is one
of the larger employers in the St. George area. Recently, the company joined
the St. George Chamber of Commerce.
According to the business license issued by the city of St. George, the company
operates from 8 a.m. to 10 p.m., Monday through Saturday. On the license, it
lists the type of business to be conducted is sales, and the date of commencing
business in St. George is March 1999. But an application for a business license
was not issued until June 15 of this year.
Under the section listing officers, general partners or members if the company
is operated as a partnership is one name – Doug Jacobson, who is listed as
the CFO. The business type is listed as a Corporation-Foreign-Profit out of Van
Nuys, Calif. Kory Thurston is listed on the state registration, issued Nov. 5,
1999, by the Utah Department of Commerce. Thurston is also the applicant on the
St. George business license. A search of the principals in the business turned
up not only Jacobson’s name but Batrawi’s, along with another principal.
All three have addresses in California. Batrawi and Jacobson’s names are both
under the same address in North Hollywood, Calif. The company is listed as
being in "good standing" by the Utah Department of Commerce.
According to the Utah Division of Consumer Protection, the company has no legal
action being taken against it.
The Better Business Bureau has Genesis Media Group listed as Business
Opp-Work-At-Home Offers. The bureau has sent two requests for basic information
to the company, but has not received any replies. The bureau states that
without this information, the bureau may not have current information
concerning such things as the company’s management or the nature of business.
Genesis Media has responded to the complaints brought to its attention by the
bureau, but one complaint remains unresolved. Genesisintermedia.com, Inc. in
California lists the nature of business as a marketing technology company that
combines innovative marketing strategies with new interactive technologies.
The bureau’s experience with GenesisIntermedia in California states that
complaints allege a pattern of delivery and refund disputes which do not appear
unusual in number or in nature for this industry. Genesis responds to
complaints by shipping merchandise, sending advisories on back-ordered items or
by issuing refunds or credits. The complainant disputes some complaint
responses. Although the company says refunds or credits had been issued,
consumers deny receiving it. On July 31, 2001, Genesisintermedia said The
Mentoring Institute will no longer by offered by Genesesintermedia. Mentoring
Institute Inc., a company providing educational training program in future
stocks and stock trading operated under several trade names and addresses,
including the same Van Nuys address as Genesisintermedia.
Under the listing of additional trade names by both companies is Trade Your Way
to Riches. The two companies also share a common telephone number
There are several companies tied to Genesesintermedia.com, Inc. including the
Mentoring Institute, Inc. Additional ties to GenesisIntermeida, Inc., include
financier Carl Icahn, a major shareholder for the Stratosphere Casino in Las
Vegas. |
