In November 2015 I agreed to take over this blog for six months. Then it was inconceivable that one man could generate enough solid news worthy public documents detailing fraud and other strife to cover more than six months. Wrong. Noveshen continues to fire off documents detailing his hypocrisies, frauds and illustrating how his mind control of a few makes him no more than a propaganda spewing dictator.
Eric Noveshen is a propaganda machine. He is a one man conspirator who takes others under his wing turns them and they must operate in total secrecy as he convinces them the conspiracy is against “me” or “us.” It is made easier with a mother that appears genetically different in build, height, eye and hair color. She either plays his conspiracy, pity me game very well or more likely taught him how to play it and guilt persuades her to feed the beast she manufactured. Noveshen makes the decisions, dictates the actions to his disciples. The Noveshen conspiracy only works because he alone controls the flow of information. Noveshen even controlled the flow of information of this blog while it sat idle for almost a year until the original creator agreed to step down.
Articulating the many atrocities committed openly exposes Noveshen to resistance and he does not like resistance to his mandates. Hence Noveshen’s crusade to stop any reporting done about him. To bury it on page five. Noveshen’s efforts are non-persuasive. Reposts of sports scores is weak. Nothing original because he keeps his real missions secret among those who agree to be part of the conspiracy. Posting decade old photographs on sites like Classmates – where for some unknown reason he states he graduated from Castor Valley high school (he did not) are as weak or more.
To change the public ideologue Noveshen must change his behavior and that he will not do. Dictators do not take orders even when they know they are wrong. He stomps his feet and cries foul in court to feed his co-conspirators one more lie to keep him afloat another day.
Noveshen claims he went into finance because he sees himself as a Bud Fox. The Charlie Sheen of the 80s, powerful wealthy, not bad on the eyes. Noveshen is not even a 2015 Charlie Sheen. In person Noveshen, with his blood-shot angry eyes and middle tire, is more a cross of Hannibal Lecter and Larry the Cable Guy (humble opinion).
Eyes desperate to render reporting of Noveshen’s true actions, including non-profit media pages like this, obsolete. This hinders the ability of Noveshen’s co-conspirators to process and decode the facts and public documents on this site for themselves. Dictators only work if they can keep their fans ignorant of the truth and infiltrate with fear. Noveshen attempts to cover his mis-deeds with the same patterns over and over. It is time to find a different decoy. The woman he sent in the moo-moo sneaking into the office during non-hours. Naming the same cases in motion after motion with the same trite wording serves only to expose the attorneys who let Noveshen file under their bar number. Did they think everyone too stupid to notice that a man who did not graduate from college writes the anger filed pages? This points to the conspiracy functions of the attorneys, “business associates” and others Noveshen surrounds himself with.
The swath of secrets and those willing to perpetuate his lies keeps Noveshen afloat.
It is pathetic hearing Noveshen and his shills lament how he is a target how justice for him is impossible when he claims outside of the other side of his mouth, laughing, how he has lawyers eating out of his hand claiming they learn from me.
Intriguing as it might be to be taught law school lessons by Hannibal and Larry, I will pass. I leave you in good hands. My successor is every bit as troubled by the beast and motivated to help prevent others from falling victim to Noveshen scams by exposing them. The rules remain the same: to be published a story must be based on evidence. Documents are preferred. The twenty or so videos we’ve been sent of Noveshen walking in and out of airports, restaurants and bars does not educate or inform potential investors or loan officers. Documentation of Noveshen’s gaming, refusals to pay bills, loans and the legal windstorm he creates when people / companies attempt to collect Noveshen’s debts is the kind of news reported here. Do svidaniya.
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.
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.
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.
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!
The SEC, in a page designed to help those interested in investing in Microcap stocks advises people to check out the people running the company. What happens when that information is concealed? Investors often feel the rub.
Microcap companies – What’s So Important About Public Information?
In the microcap world, consultants or people who lend money to micro companies who then can’t pay the debts back then have to pay in large blocks of stock, which they usually sell off fast and drive the price of the stock to nothing. Often, the same consultants and lenders go from company to company repeating the same frauds. Investors have a right to know the history of an individual in control of their money. If an individual has any ties to past scam companies, this information is either totally concealed or hard to find.
“Of potentially greater concern is that the lack of reliable, readily available information about some microcap companies can open the door to fraud. It’s easier for fraudsters to manipulate a stock when there’s little or no information available about the company.”
“Publicly-available information about microcap stocks, including penny stocks often is scarce. This makes it easier for fraudsters to spread false information. In addition, it is often easier for fraudsters to manipulate the price of microcap stocks because microcap stocks historically have been less liquid than the stock of larger companies.”
Before investing in a microcap, the SEC advises:
Read carefully the most recent reports the company has filed with the SEC and pay attention to the company’s financial statements, particularly if they are not audited or not certified by an accountant.
Check out the people running the company with your state securities regulator, and find out if they’ve ever made money for investors before. Also ask whether the people running the company have had run-ins with the regulators or other investors.
Who pulling the strings inside a company is a significant information that investors in all types of publicly traded companies should have the right to. But often if you read the fine print of a financial report you will find a statement like these: (pulled from real reports)
“On September 4, 2015, the Company entered into a consulting agreement, effective October 1, 2015, for an initial term of three months”
“the Company entered into consulting agreements with four sons of its President, for their respective consulting services at a rate of $29,000, respectively.”
With Who? Or the consulting agreement will be with a company, you have no idea who the actual people are you’re giving your money to. If you look up the company it can be some ambiguous company registered to another company.
Information is investors best weapon against fraud. Fraudsters don’t want their information public.
This is why we support reporters like Teri Buhl, be thank ful for her trademark “Smashmouth Investigative Journalism” probing and asking the questions and reporting stories fraudsters don’t want told. She dug deep into the NIR debocal that caused investors to lose millions that the government could never recover. All this is relevant to this site because of NIRs storied PIPE deal finder Eric Noveshen – knowing the players is important when thousands of people have their money on the line.http://www.teribuhl.com/2011/11/23/pwc-says-nir-group-doesnt-have-access-to-dealer-market/
Some of the comments posted on her reports:
December 9, 2011 at 1:06 pm
Can you please look into the NIR payment arrangement with the Itronics settlement.
I think you’ll be startled at what you uncover. In a nutshell, Itronics has been committing fraud on multiple levels. They agreed to settle with NIR for $8M+ payable in shares or cash. The company has zero cash yet they only added about $600k worth of shares to their outstanding share count since the May 4, 2011 payout commencement date. This means NIR is being paid in something other than just shares. It’s widely speculated that ITRO is grossly understating revenues and selling silver off the books to pay this settlement or some other nefarious scheme. Perhaps they have a deal with silver? Nobody knows for sure but I’d bet my bottom dollar that NIR is receiving dirty money from ITRO and may very well be complicit in the scheme.
Curt Kramer? Connect the dots again…Noveshen worked with Kramer in a pump and dump of a Florida based company, SMEV that resulted in a federal lawsuit in 2012, Allen Licht v. Ajene Watson et. al (Noveshen was a defendant). Bet Allen Licht wish he knew this information prior to signing a deal with him.
A previously covered topic and one we get many emails on is the pump-and-dump of the Florida based company Simulated Environment Concepts stock, (SMEV). The lawsuit, Licht v. Watson, et. al, S. Florida CASE # 0:12-cv-62197-WJZ, holds valuable information for anyone considering doing business with Eric Noveshen and should give it a good read.
Warning signs; Noveshen surrounds himself with the same names; transfer agents, financiers, attorneys, stock promotion teams and Noveshen’s friends / family. Noveshen and Ajene Watson have done consulting services together for many pink sheet companies. They both worked with the now defunct NIR Group, NIR provided funding for Edoorways (EDWY) a deal worked on by Noveshen and Watson. The Licht lawsuit claimed,
“Unfortunately, at the hands of Defendants, EDWY has suffered the same fate as Simulated. Its stock was decimated by pump-and-dump scheme…”
Curt Kramer/ Asher Enterprises, notable for connections to Novehsen via NIR, also makes an appearance in the Licht lawsuit. Kramer was blacklisted by FINRA in 2014 after being ordered to pay $1.4 million in 2013 to settle SEC charges that he purchased billions of shares of two penny stock companies and failed to register them before reselling them to investors.
The biggest danger, is when Noveshen brings family to work . The Licht lawsuit states, in December 2009, “Noveshen installed his mother Sherrill Wilson, as the bookeeper;” *Her name is Cheryl not Sherrill
The next step was to move the company accounting books out of Plaintiff Licht/ Simulated’s view. Noveshen was part of the team urging Licht /SMEV to move away from their current accounting system, Peachtree to Quickbooks giving Noveshen’s mother Cheryl Wilson greater opportunity to doctor the financials.
A cautionary tale; as in December 2014 Noveshen became President of a health insurance audit company called Microvu. Same scam, Noveshen installed his mother Cheryl Wilson to aid him in diverting funds from the company and cook the books.
Read closely, neither Licht /SMEV or the owners of Microvu knew that Cheryl Wilson is Eric Noveshen’s mother, Noveshen went out of his way to hide this glaring detail.
SMEV consulting team urges the company to “1. Move accounting away from PeachTree”
Less than five years after defrauding Simulated Concepts, Eric Noveshen becomes President of Microvu in December 2014. Guess who he brings to work on the financials? Mother Dear? Bingo! Cheryl Wilson starts working undercover to doctor financials for the benefit of herself and her son. The pair even pretended they did not know each other in the office.
From Multaply v. Kern, filed in November 2015
People might say ah, what about Ajene Watson? Here is the difference, Watson, for any faults one might perceive, is not a selfish or slovenly businessman like Noveshen. He leaves his house in a suit and tie, looks sharp, speaks well. Watson gives back to the community. Watson’s mother didn’t teach him how to cook books. Trywa Watson taught children and was a highly respected educator in New York. While Noveshen works to destroy his mother’s name in court records (all those phony affidavits of Cheryl Wilson against Amex, Nationstar etc all looked at together don’t seem credible). While Watson honors his late mother’s name. In 2010 Ajene Watson donated thousands of dollars to the school where his mother taught, Middle School 390, to open The Trywa Watson Computer Lab. Watson claimed his mother taught him a code of ethics and morals. Something you won’t find in his business partner’s history.
A recent blog sited a 2011 SEC complaint against the NIR Group and Corey Ribotsky. Part of the complaint stated Ribotsky “entered into a multi-million dollar transaction with the Purchaser and his entities that was clearly not in the best interest of the AJW Funds.” The complaint further states, “Prior to entering into the debenture transactions in November and December 2008, Ribotsky knew and in fact told others the Purchaser’s character and reputation for honesty were suspect.”
There was much speculation on several investment boards that “the Purchaser” was Eric Noveshen. Ribotsky commissioned an investigation into the Purchaser’s financial condition, part of the report summary:
From Investors Hub, investorshub.com
Description of the “Purchaser” in the 2011 SEC Complaint:
We wondered why would Ribotsky enter into a multi-million-dollar transaction for AJW Funds with a “Purchaser” he clearly knew was not financially sound enough to pay his own credit cards?
The SEC summed it up simply, the transaction, that was sure to fail, allowed Ribotsky to report “a “realized” gain at a critical time without his funds actually receiving any money.” In other words it allowed him to defraud AJW investors longer. We don’t know if “the Purchaser” was compensated for assisting in this act of fraud.
Speculation that the “Purchaser” was Eric Noveshen was not limited to the timing of his Edooorways deal with NIR. The SEC complaint says the Purchaser had many debts. Court records show many lawsuits were filed against Novehsen, his companies and straw buyers, for failure to pay credit cards and other obligations in 2008 and 2009, below are just a few.
American Express vs. Cheryl Wilson and Eric Noveshen filed June 2008.
KRGCrec vs. Eric Noveshen filed May 2009, Cypress Creek vs. Envision Cypress (Eric Noveshen’s company) filed November 2008, Citibank vs. Estelle Hartman, “interested party” and card holder Eric Noveshen filed Sept. 2009
Wakefield Quinn Barristers & Attorneys vs. Envision Capital, Bridgewater Capital LTD(Eric Noveshen’s companies) filed in 2008
The home he resided in went into foreclosure in 2008 as well. And his Former Wife found document’s apparently showing “clear wrong doing in the nature of mortgage fraud” likely occurred in Noveshen’s obtaining the use of that property.
Jpmorgan Chase Bank vs. Estelle Hartman (straw buyer for resident Eric Noveshen) Real Property Foreclosure filed July 2008
Aurora Loan Services vs. Cheryl Wilson (straw buyer for resident Eric Noveshen). Real Property Foreclosure filed April 2008
Speculation has stirred for years on stock boards on who the “Purchaser” mentioned in the 2011 SEC complaint against The NIR Group is. Not so far fetched that many pointed the finger at Noveshen who in 2008 was living in a home in foreclosure and was under a mountain of debt in the hundreds of thousands, had several phone lines shut off (Envision Capital was unreachable for at least two weeks), credit cards cut off and lawsuits filed against him in 2008 for unpaid debts. Eric Noveshen was one of the two PIPE deal finders mentioned in the 2010 SEC complaint against NIR’s Daryl Dworkin for paying bribes to him. There’s also those comment’s Ribotsky made about Noveshen in a deposition in Sept. 2009.
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.