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Microcap & Penny Stocks : IKAR Mining Tungsten iron ore gold silver copper cobalt -- Ignore unavailable to you. Want to Upgrade?

To: Shell Searcher who wrote (484)	12/28/1998 3:17:00 AM
From: Provocateur	Read Replies (1) \| Respond to of 631

IKAR Files Suit Alleging Fraud And Short Selling Scheme VANCOUVER, British Columbia, Dec. 27 /PRNewswire/ -- (OTC Bulletin Board: IKAR - news) Management has announced today that it has filed civil suit against three British Columbia residents for perpetrating an orchestrated fraud scheme against IKAR Mineral Corp. involving the short selling of IKAR shares. The alleged fraudulent scheme was exposed in Saturday's edition of the Vancouver Sun in an article authored by award winning reporter Mr. David Baines. Those named in the suit are Bumen Shefik, CEO of a purported Cyprus bank, Renfrew Securities Bank & Trust Ltd., Lee Gahr and Mojgan Shefik. In addition a demand has been made for the return of $230,000.00 USD, misappropriated from the company's bank account. It is still not clear whether the short selling was orchestrated for short-term profit, or as part of a sinister scheme to take control of the company and its substantial mineral assets and exploration rights in Tajikistan. The Company has filed the appropriate liens to secure recovery of their loss and will seek further compensatory and punitive damages as well. Copies of the extensive Baines article describing the lawsuit, and/or a free investor package can be obtained by calling the company at 800-322-4527. For more information about this and related developments, you can visit the company's web site at ikar.com SOURCE: IKAR Mineral Corp.