Is Eric Noveshen still denying that he has ever been involved with microcap stock fraud? -Noveshen keeps insisting he was never involved in a pump-and-dump stock scam. Did he forget about Itronics? It was a long time ago but he can’t even remember that he’s involved with Pure Hospitality Solutions, as of, when was the last deposit he got from selling shares of PNOW? Likely within the last couple months. Investors pay consultants of penny stocks, get no return and are forgotten – quickly. Don’t be a victim.
Yesterday’s blog, “Eric Noveshen’s Biggest Financial Scam Money Laundering Through Consulting Fees” generated a lot of emails. One claimed to have been a victim of the NIR, Daryl Dworkin, Eric Noveshen, Medgen PR scam. Almost any email of relevance said look at the pattern of shorting.
This is what Pdgood said on http://www.investorshub.com too, “You up ta speed on shorting? Eric wants no part of the questions that would be asked about Medgen, Robins as CEO of ECMH…Eric was front and center in all these scams.”
As explained, Noveshen was a PIPE deal finder for a New York hedge fund NIR. Noveshen found small or struggling companies that needed funding. He would offer funding from NIR, with a catch. The company had to pay large fees for PR, to a PR company chosen by NIR. That company was Boca Raton based Medgen, a money laundering factory disguised as a producer of holistic health products.
The PR money was and split between Dworkin of NIR, Noveshen of Envision Capital, and Paul Kravitz head of Medgen.
From the affidavit of the CEO of the Juniper Group, an NIR (AJW Funds) funded company confirmed that the funded companies were required to pay money to Medgen (Paul Kravitz) for “PR” and “Consulting”.
AJW QUALIFIED PARTNERS, AJW MASTER FUND… v. JUNIPER GROUP, INC.
NIR illegally shorted a long list of stocks of the companies it funded. The pattern of shorting and other securities frauds committed by NIR is spelled out in many lawsuits against NIR and its AJW Funds. Note* it fits the same pattern of stock manipulation that Ajene Watson and Eric Noveshen are accused of in the Simulated Technologies/Licht v. Watson lawsuit.
Read for yourselves….very similar illegal patterns. Dworkin and Ribotsky are out of the game for a few years, but Ajene Watson and Eric Noveshen have carried on these stock manipulations in other stocks such as Oriens (OTHM), changed name to Pure Hospitality (PNOW) in 2014. Stock fraudster hospitality, if you’re an investor you’ll never forget it.
EMTA Holdings, INC. v. AJW PARTNERS, AJW OFFSHORE,…..
Juniper Group v. AJW QUALIFIED PARTNERS; AJW MASTER FUND..
Allen Licht v. Ajene Watson, et. al
More details of this case found here:
More information on stock shorting:
Eric Noveshen Securities Fraud, Chapter One: Medgen
“Look at the Medgen connection. Funds were laundered through Medgen via consulting fees..Drill inta those underlyin docs that support the 800k…at least a small portion.”
Source – http://www.investorshub.com
If you want to understand a story you have to start at the beginning. Why was Eric Noveshen issued a federal indictment in 2010? How did Eric Noveshen get in a position to loan Automatic Slims over $1-million dollars in 2006? How did Noveshen get so tight with Arthur Robbins? How did Noveshen get in a position to pay Cosi $400,000 for the franchise rights to open shops in South Florida? – Medgen.
We love Investorshub.com – its essential if you want to learn about penny land. In particular these screen names share a wealth of knowledge -Janice Shell, cyberbullymouse, nodummy and renee are just some who post essential information.
We can’t forget pdgood, who once said his info might be early, but it’s never off topic. We should have looked into his advice regarding the Eric Noveshen scam story long ago.
Here’s how Noveshen ended up with all that money. Noveshen was a PIPE deal finder for a New York hedge fund called NIR – that was sued and shut down by the SEC for many securities violations in 2011. Noveshen found small or struggling companies that needed funding. The white knight would offer funding from NIR, with a catch. The company had to pay large fees for PR, to a PR company chosen by NIR.
Here’s where it gets twisted. Boca Raton based company Medgen supposedly was “establised to manufacture, sell and license healthcare products” according to a company report below. But they didn’t make money doing that so “management started a Financial Consulting service.” – The PR service NIR required companies they funded to use.
The consulting fees show up in the financial reports that PD said to drill into. He was point on, 100% correct.
Source – http://www.investorshub.com
In the end of 2007, Medgen reported a 191% increase in YTD revenue. What? Sounds like those impossible Madoff numbers. But it wasn’t from their BS snoring solution it was from consulting fees laundered through an alternative health product company.
In one quarter there were near $800,000 in consulting fees buried in the report. Noveshen had to kicks some of that back to Daryl Dworkin who was Noveshen’s insider at NIR. In 2010 Dworkin pleaded guilty to taking kickback money from two PIPE deal finders, Eric Noveshen was one of them.
What a scam huh? We told you Noveshen was a great financial scam artist. Read em for yourselves here:
2nd quarter ended 3/31/08, Product sales: $72,937 Fees Consulting Services: $419,411 ??
Did no one think it odd that a company that produced natural health care products suddenly added “consulting” and “PR services” and revenues suddenly shot up 191%?
Our information might be early, it might be late, but it is never off topic. When Noveshen tells you this site is full of hogwash “drill” into the documents for yourselves folks. Wish we had long ago. If we can save one person from being defrauded by Eric Noveshen then we can sleep at night without Snorez!
We wonder, the federal indictment that Noveshen got sealed by rolling on NIR’s Daryl Dworkin in 2010, was Noveshen exonerated of all the money laundering through Medgen too or was he just let off the hook for paying kickbacks to Dworkin? Pocketing a nice cut of $800,000 a quarter for a year isn’t chump change.
As pd said, “THE OCTOPUS HAS MANY TENTICLES” – Noveshen’s financial scams are still going on, this very day in June 2016. Don’t get played by this financial playa!
Curious if it all began with Medgen? Or was it Golden Patriot? And how did Dworkin go down and not Noveshen? Who did he roll on if they already had Dworkin?
The special relationship between Eric Noveshen / Envision Capital and Boca Raton based Medgen run by Paul Kravitz. The kickbacks paid to Dworkin were by far no secret. Not only did those affiliated with Noveshen joke about it, the story played out in stock chat rooms like Investors Hub.
“was able to confirm that Noveshen and Kravitz did deal findin and kickback scams…”
Medgen was a company producing natural health care remedies. The one it became infamous for was called SNORenz. The FTC thought Medgen made bogus claims about the potential of the product (see FTC complaint below) eventually Kravitz settled. Noveshen worked with Medgen until around 2008-09.
UNITED STATES OF AMERICA
BEFORE FEDERAL TRADE COMMISSION
In the Matter of
MED GEN, INC., a corporation, and
PAUL B. KRAVITZ, individually and as an officer of the corporation.
The Federal Trade Commission, having reason to believe that Med Gen, Inc., a corporation, and Paul B. Kravitz, individually and as an officer of the corporation (“respondents”), have violated the provisions of the Federal Trade Commission Act, and it appearing to the Commission that this proceeding is in the public interest, alleges:
1. Respondent Med Gen, Inc. is a Nevada corporation with its principal office or place of business at 7284 West Palmetto Road, Suite 106, Boca Raton, Florida 33433.
2. Respondent Paul B. Kravitz is an officer of the corporate respondent. Individually or in concert with others, he formulates, directs, controls or participates in the policies, acts, or practices of the corporation, including the acts or practices alleged in this complaint. His principal office or place of business is the same as that of Med Gen, Inc.
3. Respondents have manufactured, advertised, labeled, offered for sale, sold, and distributed products to the public, including SNORenz. SNORenz is a topical spray that purports to reduce or eliminate snoring or the sounds associated with snoring by lubricating the vibrating tissues in the throat with a combination of oils, vitamins, and trace ingredients. SNORenz is a “food,” and/or “drug” within the meaning of Sections 12 and 15 of the Federal Trade Commission Act.
Lengthy but worth a read to understand the mentality of the Noveshen game of deception, keeping his dealings untraceable so others take the fall while he enjoys the good life.
|livemint post# 6745||Tuesday, October 14, 2014 11:07:05 AM|
Look at the Medgen connection.
Funds were laundered through Medgen via consulting fees. I believe the 2008 Q has about 800k worth of these consulting fees. Who consults with a company Medgen that claims to produce some stop snoring BS product that never sold.
Drill inta those underlyin docs that support the 800k and you’ll get to the Noveshen brokered, NIR funded deals. At least a small portion.
The rest that you posted on is just indicative of the Noveshen mentality. Drill into the Medgen crew as well as Ajene Watson if ya wanna see behind the curtain regardin the NIR scam.