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Gold/Mining/Energy : Rubberman's picks for the second half of 1998 -- Ignore unavailable to you. Want to Upgrade?

To: Mr Metals who wrote (232)	10/13/1998 10:03:00 PM
From: The Fix	Read Replies (1) \| Respond to of 405

Mr. Metals.....Check out this deal. Gumby and his Homies hard at Work. GNI Petroleum Inc - Director snared in $2.5-million (U.S.) prime bank scheme GNI Petroleum Inc GNT Shares issued 4,700,275 1998-10-13 close $0.15 Tuesday Oct 13 1998 by Brent Mudry GNI Petroleum director Henry Rathje has filed a personal $1.6-million (U.S.) suit, claiming he is the victim of a sham prime bank debenture scheme. In a statement of claim filed Thursday in the Supreme Court of British Columbia, Mr. Rathje claims he invested a total of $2.5-million (U.S.) between November 1994 and January 1995, but only received $900,000 (U.S.) back before he realized the supposed risk-free debentures did not exist. The named defendants include E.B.H. Financial Services Ltd., aka E.B.H. Financial Services A.G., aka E.B.H. Servicos Financeiros Ida, a company with a Casa Blanca address in Cascais, Portugal, its director and principal Eytan Hayley, aka Eytan Haley, aka Eytan Halevi, Intervest A.G. of Wien, Austria, and its principal Klaus Rachow, Leo Vogrin and his brother Dieter Jorg Vogrin. Mr. Rathje claims that Leo Vogrin of West Vancouver, acting as agent of all the defendants, solicited his investment in a scheme purportedly involving the purchase and sale of prime bank debentures of West European prime banks. In the suit, Mr. Rathje's lawyer, Henry Wood, claims Leo's brother Dieter, based in Trumau, Austria, was the Austrian agent of the defendants and one of the "principal architects of the scheme." The suit alleges Mr. Vogrin claimed the investment was "100 per cent safe" and Mr. Rathje stood to make substantial profits. In the proposed scheme, Mr. Rathje would deposit his money in a European prime bank, his money would remain in the bank and it would be returned to him at any time on 30 days notice, guaranteed by EBH Services. Mr. Rathje claims that relying entirely on Leo Vogrin's representations, he invested a total of $2.5-million (U.S.), depositing his funds in Bank Julius Baer in Zurich, Switzerland, to the credit of E.B.H. Services. The suit notes that Mr. Rathje received $900,000 (U.S.) from Intervest or the other defendants in 1995, allegedly as returns on his investment, but in September 1995 the payments were dramatically reduced and two months later the payments stopped altogether. Mr. Rathje claims that in February, 1996, he demanded the return of his money from E.B.H., but now, more than two and a half years later, neither E.B.H. nor Intervest have failed to pay any further funds. "The entire investment scheme. . . was a fraud a sham. The prime bank debentures did not exist, the Plaintiff's funds did not remain in Bank Julius Baer and in fact the defendants converted the funds to their own use," states Mr. Wood in the court filing. The suit seeks assorted general, aggravated, punitive and exemplary damages. No statements of defence have yet been filed. fIXER