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SEC halts nine companies, cites heavy promotions

2014-09-26 13:16 ET - Street Wire

Also Street Wire (U-*SEC) U S Securities and Exchange Commission
Also Street Wire (U-BLUF) BluForest Inc
Also Street Wire (U-ESIV) Essential Innovations Technology Corp
Also Street Wire (U-XUII) Xumanii International Holdings Corp

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The U.S. Securities and Exchange Commission has halted nine companies in what it says is part of a crackdown on heavily promoted penny stocks. At least three of the nine companies have links to Canada, and one features a Calgary man that U.S. prosecutors are seeking to extradite from Belize on fraud charges. The halts, which last for 10 business days, are contained in an order the SEC released on Thursday, Sept. 25.

Among the nine companies the SEC has suspended is BluForest Inc., a pink sheets listing that in 2013 claimed it was becoming a leading marketer of carbon offsets. Although the company had no revenue and only about $13,000 in cash, the stock went to a $2.70 high in June, 2013, amidst a paid promotional campaign. (All figures are in U.S. dollars.)

Those touting the stock included a service called Market Bulls (apparently "Your #1 Investor Resource On-Line"), which said it expected to receive $200,000 for promoting the company. It issued several reports that contained the nonsense typical of paid promotion campaigns. Among other things, it said investors should be able to make 10 times their investment in BluForest. "Do your DD now before it's too late and BLUF soars to tremendous highs without you!" it advised.

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That peace of shit Jim can also known as Cem Can is hiding in Turkey, He's trying to set up offices down there to rip more people off. Someone needs to put a stop to this guy. before he hurts someone else.........

Posted by tony at 2014-09-26 14:48

Jim can also known as Cem Can pulls up to his business meetings in a Bentley, wearing fancy clothes and slicked back hair, the standard attire/facade of the confidence man. When casually asked by acquaintances, family and friends he claims to be an investment banker or an oil man. In truth, Jim Can is Calgary's King of Penny Stock fraud and he has stolen millions from the public with his various schemes.

Known as the headquarters for several major energy companies thanks to Alberta's vast oil reserves, Calgary, is a western Canadian boom town turned big city. A bland, cultureless home to about one million people mostly living in cookie-cutter houses, Calgary is the residence of oil executives and wannabes alike. As home of the now defunct Alberta Stock Exchange, Calgary was also a bastion of fraudulent energy and mineral plays listed on the Alberta and Vancouver Stock Exchanges, perhaps none more prevalent than the infamous Bre-X Minerals scandal, which resulted in the merging of the two exchanges into the TSX-Venture Exchange, and significantly tighter regulations and reporting requirements. With the noose tightened around shysters who would pick the pockets of unsuspecting investors with "fool's gold" plays, these snake oil salesman packed up their salted mines, and other phony baloney get-rich-quick schemes, and looked to the US OTC markets as a safe haven to conduct "business". In an environment where FINRA often looks the other way and the SEC is impotent, penny stock fraud is rampant, and there are plenty of suckers and believers in fairy tales susceptible to the romance of untold and untrue riches offered by wooers like Jim Can.

Read More: http://investorshangout.com/post/view?id=1002996#ixzz3ESMeoPaF

Posted by john at 2014-09-26 16:47

Jim Can.....what a peace of shit!!!!!! Run... Run.... we will get you :)

Posted by Anderw at 2014-09-26 17:50

The SEC better get him this time!! Jim has had this coming to him for a long time. There is a God.

Posted by Lindsey at 2014-09-26 17:55

please check out Don Wilson he kept phoning and pushing RYSTAR COMMUNICATIONS TO ME, in 1999, RYS ON THE VAN. EXCH. I lost atleast $75,000.00 and then was suspended.

Posted by M. Louise Sailer at 2014-09-30 11:20


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