Tag Archives: penny stock fraud

Man Jailed for Defrauding Michigan Investors in 2014 was Connected to Noveshen’s Penny Stock PNOW

Thanks to all from the press freedom convention who helped with our new encrypted drop. We are pleased that it has offered more identity protection to sources who wish to remain anonymous. Similar programs are used by internationally recognized press organizations who expose wrong doing in war zones, governments; legal systems; business operations and more.

Today we feature one product of the system that automatically encrypts identifying information.

According to our source, and fact checking, many at micro cap stock Pure Hospitality Solutions, PNOW, claimed the company was not connected to Pat Hundley who was jailed in 2014 in Costa Rica for allegedly defrauding close to $7-million from Michigan investors. PNOW was formerly called  OTHM before it changed its symbol in Fall 2014. Eric Noveshen is a consultant to the stock though he claims for purposes of a lawsuit against this website not to be. Much like OTHM claimed to have no affiliation with Patrick Hundley after his arrest.

PNOW reportedly ran between five to eleven pump and dump stock scam cycles in the last decade.

Ken Chua, the Chairman and CEO at the Time of signing this document, was sanctioned by the British Colombia Securities Commission in August 2014 and later resigned his position to Melvin Pereira, who remains the CEO today.  The BCSC commission found that Ken Chua “continues to pose a risk to our investors and our markets.”

This document proves a connection between Hundley, Pereira and Chua.

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Man Accused of Fraud Against Michigan Investors

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Consultant Puts Magnifying Glass on Company by Writing it Into a Lawsuit

Did the men running micro stock Pure Hospitality Solutions miscalculate when they allowed Eric Noveshen manipulate a financial report to meet the needs of the defamation lawsuit he filed this year?

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https://ericnoveshen.wordpress.com/2016/05/23/penny-stock-company-discusses-negative-chat-room-posts-in-financial-reports/

Noveshen had a hand in falsely writing into quarterly and annual financial disclosure reports for PNOW that the company severed ties with him. “The company unilaterally determined to retroactively terminate the consulting agreement with this consultant due to certain groups of individuals that are posting false and defamatory attacks about the company which are somehow tied to this consultant.”

Read it out loud, it is not only out of place it shows that they allow manipulation of financial reports. Thus adding credibility to hundreds of online claims made during the last four years that PNOW is a penny stock that has manipulated financial disclosure.

It’s no secret that Noveshen and his longtime friend and business associate Ajene Watson are part of the consulting team pulling the strings behind the penny stock PNOW. It’s been documented all over for years before Noveshen claims the “false and defamatory remarks” were put on the internet about him.

Hey, Noveshen needs to add a few words to a company financial report to make a court believe he had damages, no big deal, anything for a friend.

In allowing PNOW to become part of Noveshen’s case is like putting it on trial for being a pump and dump. At very least it keeps PNOW in the public discussion and knows when the SEC or FINRA started looking.

The lawsuit that crawls under Noveshen’s skin due to all the public commentary about it on the internet is called Allen v. Ajene Watson, et al. It was filed in Florida in 2012 and internet commentary began immediately and never stopped.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=102223261

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That lawsuit detailed how Noveshen, Watson and others sweet talked their way into becoming the “consulting team” for penny stock company Simulated Environment Concepts, SMEV, in 2009, then set in motion a “pump and dump” scam. It also states that the group, including Noveshen and Watson did similar scams on other companies, Edoorways, EDWY and Oriens Travel – which changed its name in 2014 to Pure Hospitality Solutions, PNOW. Likely because the owner of the company, Allen Licht was acting as his own lawyer, it goes into the most minor details of how they pulled off the scam. Including inserting a transfer agent who would play ball, Christopher Day, (who recently got in trouble with the SEC). They also “inserted” Noveshen’s mother as the book keeper.

These facts and opinions have been written about since 2012. Is Noveshen going to sue everyone who ever wrote that Edoorways, Simulated Environment Concepts and Pure Hospitality Solutions were pump and dump scams? If so he needs to add a lot of names to the defendant list.

What a hoot!

** Below, readers thoughts on the subject

investorshub.advfn.com/boards

“This is NOT AT ALL a good thing for Gary or EDWY. Ajene Watson was a “consultant” for EDWY, so they really cannot claim ignorance on this one.”

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81345633

“This makes me happy that the scum that have been doing this are getting busted, but I do feel bad for the innocents that will learn about stinky pinkies the hard way.

All someone has to do is read the lawsuit. Again has nothing to do with edwy. Mentioned that edwy was a victim. The whole thing is much to do about nothing really. Just noise.

See GARY was 100% RIGHT HERE! EDWY has nothing to do with that lawsuit first off. You cant twist this any other way.

Remember back 3 years ago when watson and Ian mitchel tried to take over EDWY. EDWY’s complaint was a failed take over attempt. This just adds to Gary’s claim about these scum bags. Now here is proof about the whole thing. Watson and Mitchel are apparently getting theres. Karma is a b*tch!

Its seems someone else had problems with these guys, not just EDWY.
More proof! Makes me feel good!”

Is Noveshen Still Denying Involvement with Pump & Dump Stock Scams?

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.

Microcap Stock Fraud Noveshen

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Blog Serves Public Interest of Investors And Promotes Noveshen is Willing to ‘Play Ball’

Eric Noveshen has a knack for the poor me story (as stated by his grandmother in a letter the last blog).

Now he’s asking the court to shut down this blog claiming that he can’t get work. Anyone who knows what kind of work Noveshen does can see this blog is the best advertisement for hire Noveshen’s ever had.

You can’t go on a LinkedIn resume and write “I’m down to play dirty ball in microcap stock fraud.”

This blog does that for him in shining colors. So the false loss of work story is not why Noveshen wants this down. This blog helps him get work.

Noveshen wants this blog down because while those companies want guys who will play dirty, but Noveshen doesn’t want to show them he’s on the radar of the SEC, FINRA and the Department of Justice. And don’t forget the many financial investigative reporters lurking in the background just waiting to break their next story.

To remove this blog would be an injustice to the Public, to anyone considering entering the microcap stock market. According to Investopedia, “Penny stocks aren’t a lost cause, but they are very high-risk investments that aren’t suitable for all investors. If you can’t resist the lure of micro caps, make sure you do extensive research and understand what you are getting into.”

The full article explains why extensive research is often hard to come by, the promoters and consultants make it that way on purpose. They don’t want you to know that $5000 suit you are about to buy online is stained before you click order.

The Lowdown On Penny Stocks” | Investopedia http://www.investopedia.com/articles/03/050803.asp#ixzz4CgSAN9lW

Yes we also cover Noveshen’s grotesque abuse of the Broward County and Florida court systems and his willingness to steal money from his own family because that’s called transparency folks. If you’re going to invest your money in a penny stock you should have the right to know if one of its main consultants will take from his own family then he’ll probably take from you. The public should have the right to this knowledge.

Penny stocks are a fools game.

“You’re betting against the house – and the house always wins,” according to reporter John Divine, in 5 Reasons to Avoid Penny Stocks at all Costs. “Everyone remembers the grandma who won the $10 million jackpot playing the slot machine.

“5 Reasons to Avoid Penny Stocks at All Costs”

http://money.usnews.com/investing/articles/2016-03-29/5-reasons-to-avoid-penny-stocks-at-all-costs

“But no one recalls the 100,000 players who lost $100 apiece to pay her out. No news articles are written about the next 100,000 gamblers who flushed their hard-earned savings into the casino’s bottom line.

To take this information down would be a disservice to the public interest. AND THERE WILL BE MORE PENNY STOCK INVESTORS VICTIM and victims to other financial scams orchestrated and calculated by Eric Noveshen and his crew.

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Memorial Day Reminder -Recognize Red Flags of Stock Scams

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On this day we salute those who gave all. A message to those who “take all”stock fraud is very unpatriotic.

Defrauding fellow Americans and other investors around the world might make you nice living, but ever think about the livings of those you are scamming? Maybe its a war hero? Did he or she lose a limb? Did he or she just get back from duty in Afghanistan while you sat behind a computer posting fake hype to get him to invest in a shell you stuffed a fake company in? Maybe that $5,000 invested in your penny stock means nothing to you but is half of someones retirement?

Note to investors: perpetrators of stock fraud do not care. REPORTERS, the SEC, FINRA, POLITICIANS and the COURTS can’t catch all the microcap stock fraud so educate yourselves before investing.

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https://www.investor.gov/investing-basics/avoiding-fraud/types-fraud/microcap-fraud

The Seedy World of Microcap Stock Advisors

https://www.law.cornell.edu/wex/investor_protection_guide_micro-cap_stock_fraud_pump_and_dump

 

Was Noveshen Planning to Pump-n-Dump Multaply INC. Before Company Caught his Scamming Ways?

The federal lawsuit filed in November 2015 by Multaply INC of Fort Lauderdale, FL, against many including former employees Eric Noveshen and Timothy Wagner, makes one wonder:

Was Eric Noveshen planning to take MULTAPLY public and pump-n-dump it like his other stocks, EDWY, SMEV, HIMR, PNOW, ECMH……? Is that why they are suing him?

Eric Noveshen was listed as an officer of the company and had a hand in registering Multaply in Nevada (Nevada laws do NOT require companies to make their shareholder lists public making it easier for pump-and-dump operators to stay behind the scenes unknown to potential investors/victims.)

Multaply might have been his next pump-n-dump. Thank your lucky stars penny investors- one less penny predator to fear.

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Eric Noveshen Sued Corruption Theft over 200k
Florida Financial Advisor Eric L Noveshen has been sued for racketeering, corruption and grand theft over $200,000 in Multaply v Kern, et. al