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Technology Stocks : Turbodyne Technologies Inc. (TRBDF) -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (1662)	8/11/1998 5:19:00 AM
From: Michael Bidder	Respond to of 3458

Peter yes it is getting really interesting.... Birmingham Post; "Pension cash hit in shares scandal" Northfork Ventures Ltd NVS Shares issued 9,307,986 Jun 1/92 close $2.40 Mon 13 Jul 92 Miscellaneous REPRINT Millions of pounds from a Midland pension fund are at risk in a massive Canadian business scandal. The doubts surround retirement cash belonging to more than 250,000 Midland council workers, which has been invested in shares on the Vancouver stock exchange. Thousands of shares bought by the West Midlands Municipal Authorities' pension fund have been frozen by Canadian federal authorities as part of a fraud investigation, while others are now worthless. Last night a senior official from the National Local Government Officers' Association called for an inquiry into the fund's investments which are thought to involve deals totalling at least six million Canadian dollars. Question marks over the Midland fund - which is controlled by Wolverhampton Council - came to light after the man behind one of its investments was exposed as a fraud. The Midland fund invested about 100,000 Canadian dollars in the company, Northfork Ventures, which claimed to make instruments for key-hole surgery, earlier this year. But trading in the firm was suspended last month when it was revealed its whizz-kid founder Dr Anthony Nobles had invented his academic past. Nobles claimed to have degrees from the University of the City of Los Angeles and the University of Texas, but both institutions said he never obtained any degreees. There are also further doubts over the existence of patents for medical instruments Dr Nobles claims to have obtained. But the Northfork scandal is only the latest in a long line of problems surrounding the VSE. Influential US business journal Forbes magazine once called the exchange "the longest standing joke in North America" and it is rumoured to be a laundering vehicle for the Mafia. Forbes claimed the exchange was characterized by "smoke and mirrors" companies which have no assets and by "inducing dupes in North America and Europe to invest in mysterious outfits making computerized golf courses and airborne farm equipment." The Birmingham Post has discovered that millions of pounds from the municipal pension scheme have been invested in at least 14 companies on the exchange. On paper some of the deals appear to have made money, while others have seen their share values wiped out over night. Birmingham stock brokers Griffiths and Lamb are linked to several of the Wolverhampton deals, although it says it has done little more than check the paperwork. The firm says the council pension fund is making money on the VSE and that the exchange has "cleaned up its act". However, The Post has discovered most of the deals were arranged by Vancouver stock promoter Harry Moll who is currently involved in a Canadian court battle with the Birmingham stock brokers. Griffiths and Lamb are fighting to get cash back from Moll from several deals which also involves the Wolverhampton fund. Last night Wolverhampton Council refused to discuss whether the fund had lost money on the VSE deals. Mr Brian Bailey, director of finance, said he could not discuss the fund's specific investment. But he said: "If we lose in one market or one deal it will have little effect on the fund which is worth over two billion pounds. (c) Copyright 1992 Canjex Publishing Ltd. canada- stockwatch.com See following post..... MB

To: peter michaelson who wrote (1662)	8/11/1998 5:37:00 AM
From: Michael Bidder	Read Replies (1) \| Respond to of 3458

The previous post raises many questions. 1) Did some of the perpetrators of this Fraud go on to execute there craft on other swindles? 2) Are some fund managers corrupt? Ask Drifuss! 3) Who blew the whistle on the Fraudulent "imposter/doctor/inventor". was it a short seller? 4) Can we find a connection somewhere linking the investors in Turby with known frauds? This circumstantial evidence might be illuminating. Some Frauds are never exposed because it is impossible to expose them as such? This is the perfect Fraud! Crstallex was such a Fraud. The international legal smoke screen will hide all. Solvex was a great one as well. The proprietary technology is "secret". Incidently Asencio cracked those two. They are now below $1 dollar. Turbodyne could well fall into this category. If the Turbo watcha'ma callit proves not to be attractive in the market place. MB ....pealing the layers of the onion.