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Microcap & Penny Stocks : PanAmerican BanCorp (PABN) -- Ignore unavailable to you. Want to Upgrade?

To: astheworldturns who wrote (36774)	5/21/1999 12:26:00 PM
From: jhild	Read Replies (4) \| Respond to of 43774

INSIDER TRADING RECAP Yes indeed let's get back to the real story here. Let me recap for you Junior, though I suspect that your Daddy probably knows more than is in the public record, there are many here that may not. I will set aside hammering the non-reporting status of this company and their evasive history of saying when financials will be forthcoming, and just make this one reference so I can help Sturg buy his car. See #reply-9618793 But let's recap the Insider Trading story: I think it goes something like this. In 1987 David Allen Worcester, Jr. (hey Junior, you have something in common) started a financial services company - Gold Country Financial Services that was registered in just the state of California. On the other coast you have Charles Vaccaro encountering financial difficulty as witnessed by his 1989 filing of Chapter 7 Bankruptcy followed by the Tax Lien entered against him in 1991. He left his position at Ribbin after 16 years in 1996. After 3 weeks he came to the securities industry for the first time and joined Greenway Capital Corp. August 27, 1996. (There has been much written about Greenway in the WSJ and Business Week and posted back thread, so I will leave it to the reader to fill in the blanks on what Greenway/Cortlandt Capital was up to.) January of 1997 saw several things happen. Charles Vaccaro joined Gold Country Financial Services and later that month he left Greenway. This is made a little curious by noting that at that time Gold Country was only registered to do business in CA. Over the course on 1997 Gold Country successfully was approved for business in NY (2/6), NJ (2/3), NV (9/18), FL (11/13) and IL (11/10). (It is reported that David Worcester sold Gold Country at this time.) (Note also that when he wanted to Charlie was able to get the state registrations pretty quickly when he wants to. He started Jan 6, 1997 and they were registered in NY and NJ bu Feb 6, 1997. Yet he said that the registrations were on his desk Mar 5 [See: #reply-8165505 ] and still not one as of today has been registered with the NASDR as having been approved.) Then along comes Susan U. Not 10 years out of high school, having broker experience of 10 months (she claimed she was unemployed for 4 of those months), 5 months and 6 months, she joined the then renamed Gold Country Securities in June of 1997. (See #reply-9648088) I believe during this time Susan U became the President of I.T.C. Internet Trading Co., for some purpose. In Feb of 1999 she became approved to be a financial and operations principal in a brokerage just days after joining Carlin Equities. Interesting though that she was working at WIEN Securities for 4 months (10/98 to 2/99) and that she still retains her position in the corporate records in CA of Gold Country. Interesting too that WIEN made a market in PRWT/PABN during this period. Interesting too is the fact that WEIN went from .3M the month she came to 1M, 2M, and 1.7M the months that she was there. WIEN has gone on since she left to 1.9, 5.3M and a whopping 220M last month in PABN. And Lordy be, Carlin (CLYN) that didn't have a record of making a market in PABN blossomed from nowhere last month to trade 100K shares. Coincidence? I think in good part, as the volume has been increasing across the board. Suspicious? Well to me it seems worth checking to see that everything at these companies are fully disclosed. Getting back to I-T, though, I think it is fairly clear that I-T is Charlie Vaccaro. He is apparently fronted with the NASDR by Susan U and or David Worcester's approvals to be the operation principals of Gold Country Securities. These loose ends, like not updating the CA corporation records to reflect David Worcester's sale of his company, need investigation as well. But from all of this one has to wonder where the money is coming from? Where did the money come from in Jan 1997 to effect the sale of Gold Country Financial Services? To open these offices? To get their systems working? Just where did it come from? Charlie Vaccaro with a Tax Lien, a nd Susan U, without listed employment in the securities business that lasted as long as a year? Two individuals with such little combined experience in the brokerage business? Just where did/does the money come from?