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Golden Touch Resources Corp
Symbol GOT
Shares Issued 24,637,616
Close 2011-05-11 C$ 0.61
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Golden Touch ex Mawji detained in Europe

2011-05-11 20:47 ET - Street Wire

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by Mike Caswell

Vancouver promoter Aly B. Mawji, 32, has been detained in Europe on an undisclosed matter, according his former company, Golden Touch Resources Corp. The company issued a news release on Tuesday stating that Mr. Mawji had resigned as president and chief executive officer, and was detained on matters that "to the best of the company's knowledge, information and belief are completely unrelated to any of Golden Touch's business or affairs."

The company did not say why Mr. Mawji was detained, or even where. Two Golden Touch directors, Anthony Jackson and David Schmidt, did not return phone calls seeking comment. According to the company's secretary, nobody there knows anything more about the detention.

The Ministry of Foreign Affairs was unable to confirm Mr. Mawji's detention as well. A representative said even if she did find out the nature of Mr. Mawji's trouble, privacy rules would prevent her from releasing that information. She could only say that there was no indication he had sought assistance from consular officials.

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You knew this was coming, only a matter of time. Poor little guy.

Posted by nosuprise at 2011-05-11 21:00

I hear MDAV is one of his deals, i bought in and its slipping hard...any insight out there?

Posted by LosingMoney at 2011-05-11 21:19

dont think he'll be coming back from austria any time soon, alot of germans hurt bad on the de Beira scam.

Posted by bendoveraly at 2011-05-11 23:38

DBGF was no scam! The main project (Tieribi) is now in SWD.V. DBGF optioned an producing gold/silver mine too. The plan was that the increased production of this mine should cover the exploration costs of the Titeribi project. Eckhof guided 2 companies to takeover. Spinnifex and Moto Gold and is now very successfull with Kilo Gold. At the end of the day killed negative press and a bunch of short sellers the story. After the spile DBGF was not able to raise money and meet their financial commitments to the vendors of the projects.

Posted by The Don at 2011-05-12 03:51

looking at a chart on this stock it was nothing but a short play and people that shorted the stock got burned.

Posted by keeping it real at 2011-05-12 08:21

One thing about Aly he gets things done not like half the useless promoters in town.

Posted by stockman at 2011-05-12 08:28

Anybody in Canada that did a scam in Europe involving Ali might be wary. He'll be singing like a bird. I wonder how they feel right now in Cathedral Place.

Posted by Escape Artist at 2011-05-12 09:36

He made 10's of millions on pump and dumps. He even robbed his main promoter. I hope that he wasnt laundering money for Al-Q.....

Posted by Chief at 2011-05-12 12:00

thats just mean guys(Aids comment)....the poor guy has no shot to survive in jail. He is a tiny little brown guy with a pot belly from all the money he made. He was apparently claiming he was a prince to new relationships he was developing.

Feel bad for you GOT and MDAV shareholders.

Posted by noshotinpin at 2011-05-12 13:09

To all the haters taking the issue with Mr. Mawji's past personally. Were you affected by those actions? Did you profit from them or maybe you missed out and now your taking the "high" ground. Fact Golden Touch Resources investigated Mr.Mawji's past with the SEC to insure there were no issues with him as of the present and that he was in good standing. He was brought in to raise money to acquire a property and to fund a drill program. He was a figure head but not the company it's self. As well don't forget Mr.Mawji has not been convicted of a crime and maybe he will be maybe he wont. However the fact is GOT's asset in Albania is not an "idea" or concept. This is a past proven property that any investor or shareholder can jump on a plane and go explore. This is not a Bre X it's there. There's a very large chromite deposit and proven gold and probably a lot more positives on the horizon then the mistake and negativity of appointing Mr.Mawji as president... GOT's directors upon hearing about Mr.Mawji's past issue halted trading voluntarily and have immediately begun to distance them selves to protect the real shareholders who have invested their hard earned dollars into the asset not Mr.Mawji and have now fallen victim to one man's actions. And some will argue what about the German investors 6 years ago. Well that was a different deal with a different asset that doesn't necessarily relate to GOT as a company and one day will be decided in the courts...They are two different deals. The sceptics need only consult with their investment firms analyst's and do their proper due diligence before falling victim to the bad PR and panic sellers and actually look at the asset. Otherwise stay by the water cooler.

Posted by Voiceofreason at 2011-05-12 22:47

Golden Touch first investigated Mawji's past....then the Directors upon hearing about Mr. Mawji's past issue....

So there is Golden Touch and then there is the Golden Touch Directors? I'm sure he was trying to reform and be a good guy after burning so many people - and he did and Golden Touch knew or should have known his reputation - he is a big shareholder too. He was brought in? BS. It is his company.

Posted by VoiceofLogic at 2011-05-13 10:02

I hear Germany will be bringing in new enviromental laws -- The country is littered with TSX Venture paper...(insert rimshot)

Posted by Du-rag at 2011-05-13 10:10

When are people going to realize that OTC:BB companies are seldom if ever on the up and up. They have little or no reporting oversight and the only enforcement and penalties occur by the SEC after the fact and the fines always get levied before the restitution order is in place. At least some of these bandits are caught on the TSX before they take all of everyones investment.

Posted by shoes at 2011-05-13 14:10

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