Who is this man who been promoted as a more then respected offshore investment guru with 12 years of experiance in the trading business.
This is from the J&K's first home page at www.offshoremlm.net:
---We have been in the trading business for over 12 years and we have an extensive list of other traders around the world.---
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This is from Steven, one of the mods at the Independet forum and who is still supporting this saga and wants you all to send money for the legal fund:
(posted in one of the forums at delphi in June 2000)
---I have heard of Roy Weaver
and he is one of the most respected offshore
investment guru's
around. He has a track record of A+ for the last 6 years.---
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Lets see what the real world say
about this guru with 12 years of experiance in the trading business:
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1994
In May of 1994, Kenneth R. Weare plead guilty (felony theft) on two counts (out of 30) of charitable fraud with respect to the United Children's Foundation for misapproperiating approximately $65.000.
Source: Denver District Attorney and SEC
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1996
OFFICE OF THE KANSAS SECURITIES COMMISSIONER
A CEASE AND DESIST ORDER WAS ISSUED 4-16-96, TO MEGA ADVERTISING AND KENNETH WEARE FOR POSTING AN ADVERTISEMENT ON THE INTERNET, FOR A $400 FEE, FOR DIGITAL COMMUNICATIONS, LTD. SEEKING INVESTORS TO FUND DIGITAL'S EXPANSION.
Mr. Weare was not registered
with the Kansas Securities Commissioner at the time
of this offer.
OFFICE OF THE KANSAS SECURITIES COMMISSIONER
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1997
The BBB had this to say about Kenneth R. Weare in September of 1997.
Phone Orders Go "Unanswered"
Denver BBB Unable To Locate Internet Seller
September 15, 1997 -- Customers who purchased "reconditioned" phone equipment
from an
internet auction site have
apparently been "hung-up" on as the orders have not been filled. After
seeing a solicitation on
the Ebay Auction Site, winning bidders or shoppers placed orders for 900
MHZ cordless phones from
KRW Internet Sales & Marketing, located in Denver, Colorado.
The Denver/Boulder BBB has
received numerous non-delivery complaints in which the buyers
report futile attempts to obtain refunds.
BBB investigation revealed
that the street address used by the firm on the internet offer was
nothing more than a private
mail drop. Furthermore, the phone numbers were phony as they were
all disconnected local numbers.
KRW Internet Sales is the
operation of Kenneth R. Weare who is well known in Bureau files.
Mr. Weare was most recently
identified when he conducted a charitable solicitation called United
Children's Foundation. That
operation closed after the Denver District Attorney charged Weare
with 30 counts of violating
the Charitable Solicitations Act, 2 counts of aggregate theft and one
count of felony theft in June,
1993. In a plea arrangement, the charges were settled in June, 1994
when Weare pled guilty to
2 counts of felony theft.
BBB efforts to obtain refunds for the phone buyers have been unsuccessful.
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1999
The DFI (Department of Financial Institutions) in Wisconsin wrote this about Kenneth R. Weaver in 1999.
AAA-Auction.com, Inc ., Cosco Capital,
Inc.,
Kenneth R.Weare, Clay Lambert,
(and others)
Seperate Orders of Prohibition (from further offers and sales of unregistrated securities, unlicensed broker-dealer and securities agent activity, and anti-fraud violations) and Revocation (of securities registration exemptions) where summarily issued against each of the named parties. The order was based on allegations of offers to persons in Wisconsin during the period June 1998 to January 1999 of unregistrated securities in the form of investment contracts labeled as "Merchandise Purchase-Resale Agreements", marketed by an unlicensed broker-dealer and unlicensed agents. The fraud allegations related to failures to disclose to investors that Kenneth Weare, one of AAA's controlling persons, had been the subject of a prior enforcement order issued by the Kansas Securities Division.
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1999
Three companies, promoters ordered to stop selling unregistered investments
The Secretary of State's Office has issued two cease and desist orders against three companies and several of their promoters for selling unregistered investments that were touted as "risk free" and "guaranteed."
Named in the order were LeLong Investment Group, LLC; its president, James A. Marino; and Dan Kelly, all of Encino, Calif.
The office's Securities Division initiated its investigation into LeLong after Kelly made an unsolicited call to a Missouri resident offering to sell "no-risk" investments in LeLong. Kelly told the resident that LeLong produced "bread and butter" film projects outside the United States and investors would get their initial investment back within 12 to 18 months. When asked what risks were involved, Kelly said: "There isn't any. If there is any, Lloyd's of London has picked up the risk. They're insuring the fund against loss." In reality, Lloyd's of London wasn't affiliated with the investment.
Named in the second order were AAA Auction.com Inc. of Lakewood, Colo., and Stratuscom Corporation and Wes Griffin, both of Valhalla, New York.
The Securities Division initiated its investigation after Griffen placed an unsolicited call to a Missouri resident offering to sell an investment with a guaranteed 50-80 percent return in one year without risk. Promoters maintained that AAA could make these guarantees because they were an Internet marketer.
Neither of the so-called "risk-free" investments were registered to be sold in Missouri.
Link to the Cease and Desist Order in Missouri
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