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Microcap & Penny Stocks : MTEI - Mountain Energy - No BASHING Allowed -- Ignore unavailable to you. Want to Upgrade?

To: Arcane Lore who wrote (7237)	7/30/1998 9:45:00 PM
From: slotman	Read Replies (2) \| Respond to of 11684

So basically, the SEC puts the responsibility of verifying all that MTEI claims to be true. The SEC won't do any investigations until they file fraud charges if they are warranted. They don't have the time or resources, or knowledge for that matter, of every industry that is publicly traded. I'm with most people here in that I don't think fraud was intentionally committed by MTEI's mgmt. MTEI may have already gotten a green light (unlikely) to start trading, but, the market makers have a hell of a lot of work to do before 8/12/. If they don't want to deal the stock anymore, they don't have to. UNLESS THEY'RE SHORT! Good luck to all

To: Arcane Lore who wrote (7237)	9/20/2001 3:52:19 PM
From: Arcane Lore	Read Replies (5) \| Respond to of 11684

From today's SEC Digest: SEC SUES FORMER TOP OFFICERS OF MOUNTAIN ENERGY FOR PUMP AND DUMP SCHEME; TWO OTHER DEFENDANTS AGREE TO DISGORGE PROCEEDS OF $1.35 MILLION FROM SALE OF UNREGISTERED STOCK The Commission today filed a civil injunctive action in U.S. District Court in Houston, Texas, charging Mountain Energy, Inc., a start-up energy company, its two former chief executive officers, Donald John Christensen, II and Jack E. Uselton, and an associated individual, Marc R. Tow, with engaging in a "pump-and-dump" scheme in the company's securities. In addition, the Commission charged two financial consultants, Joseph M. Blumenthal and George W. Guttman, with illegally selling unregistered Mountain Energy securities. According to the Commission's complaint, during the spring and summer of 1998, Mountain Energy issued six fraudulent press releases that misrepresented the ownership, nature and value of the company's assets. Specifically, the Company falsely claimed to have obtained mineral rights to West Virginia properties valued at $200 million. These press releases dramatically elevated the price of Mountain Energy's securities. Contemporaneously with the publication of the releases, Christensen authorized the issuance of over 10 million shares of stock to Guttman, Blumenthal and a third individual, who is now deceased. All three men immediately resold the securities, and Guttman paid Christensen at least $896,000 of his trading profits. In settlement of the Commission's action, Blumenthal and Guttman have agreed to pay a total of $1.35 million in disgorgement of illegal profits. [SEC v. Donald John Christensen, II, Jack E. Uselton, Marc R. Tow, George W. Guttman, Joseph M. Blumenthal, and Mountain Energy, Inc., Civ. No. HO1-3203] (LR-17144) sec.gov