tl;dr version @ this 2+ min. YouTube video:
https://www.youtube.com/watch?v=ByaotgIddOI At the end of the video you'll realize that that's how Marshall Long + Leo "Chewbacca" Iruke et al. boosted eBoost prior to it tanking after the IPO, enriching only themselves, leaving their non-astute marks-cum-investors with nothing but jizz on their chinny-chin-chins.
<formatting slightly skewed>
http://promotionstocksecrets.com/awesome-penny-stocks-the-walls-come-tumbling-down/ (my highlights will be in bold red)
2013-10-25 at 9.12.43 PM
25 OCT
AWESOME PENNY STOCKS – THE WALLS COME TUMBLING DOWNPosted at 21:06h in Open, Promoter Information by nodummy
Last week we wrote
a report about the breaking news of Awesome Penny Stocks closing down its doors. In the days that have followed some major details have been coming to light that help verify information posted by yours truly way back in 2011 about the main individuals behind Awesome Penny Stocks and bridges the “old regime” to the “new regime” helping to give us a much clearer picture of the entire Awesome Penny Stocks cartel.
All old IHUB posts that mentioned the names
John Babikian and/or
Robert Kalfayan as Awesome Penny Stock insiders were removed some time in 2012 including several of my posts. I’ve been having a discussion about it with the IHUB admins and through hours of research, they were able to piece together details about the how the posts were removed. In March of 2012, the IHUB received a Cease and Desist letter from attorney
Leonnel Iruke (more on him later in this report) demanding that a specific list of posts be removed from the IHUB website. In the Cease and Desist letter
Leonnel Iruke threatened to file legal charges against 3 IHUB posters including yours truly. The IHUB refused to give in to the demands of the Cease and Desist letter and remove the posts. Not satisfied by the response from the IHUB, some time over the next few weeks the IHUB website was hacked and the targeted content was deleted through an old exploit that doesn’t exist anymore. All of the posts that were included in the Cease and Desist letter were removed through the hacking. The posts all included the names John Babikian,
Eric Van Nguyen,
Jad Tabara (aka Jad Tabari), or Robert Kalfayan. Several posts that I authored on the IHUB starting in December of 2011 naming these individuals (mainly Babikian and Kalfayan) as key Awesome Penny Stock insiders were part of the maliciously removed posts. I’m told once the exact nature of how the posts were removed is solved the posts will be restored and I’ll be able to link them into this report. In 2011 I also sent my research naming John Babikian and Robert Kalfayan as key Awesome Penny Stock insiders to the FBI and SEC who obviously didn’t use the information for any immediate action.
Basically what I found in December of 2011 is that Robert Kalfayan authored many of the early spam emails sent out by Awesome Penny Stocks and the Awesome Penny Stock sites were all hosted on a server that was owned by John Babikian. Robert Kalfayan had a history of spam. He was named with his brother, Jirayr,
in litigation for his role in an illegal spam operation in 2005.
John Babikian was already involved in his own website business called bargainoo.com as well as some porn sites. Rumor had it that the Awesome Penny Stock mailing list was built from the old Skymark Media mailing list and then added to through the use of sites owned by John Babikian and the hacking of other sites to obtain their mailing lists.
John Babikian worked hard to keep his name a secret. Besides hacking the IHUB to have posts mentioning him removed through some exploits he also
threatened a lawsuit and pressured Seeking Alpha to take down an article about Awesome Penny Stocks written by infitialis that included the names John Babikian and Robert Kalfayan. That unedited report can still be found
at this link.
The following are pictures of John Babikian (bald head bottom left in the first and on the right in the second and third). The second and third photos were provided courtesy of
Le Journal de Montreal:
Robert Kalfayan is the one on the left in the following photo:
Yesterday evening fellow stock sleuth and researcher,
infitialis, was able to gain access to the sealed Quebec court documents filed by
Babikian's wife [Alima Beg], who is suing her former husband, John Babikian, and was kind enough to pass those documents on to me. View those court documents
here. In those court documents, Alima Beg discloses her husband made over $100 million running Awesome Penny Stocks and also exposes several of his off shore accounts and business practices including the following:
Middlebay Trade Ltd incorporated by Babikian in the Seychelles holds a secondary residence located at 642 N. Laurel Avenue, Los Angeles, California. The Laurel Avenue house was purchased in December 2010 for $2.2 million and is now estimated by Zillow to be worth $2.7 million.
Oriwa Villas Ltd holds for Babikian his property located at 1401 Londonberry Pl, Los Angeles, California. The Londonderry house was purchased in March 2012 for $6 million and is currently estimated to be worth $10.5 million by Zillow.
Arrow Import & Export Corporation incorporated by Babikian in the British Virgin Islands holds bank accounts for Babikian at Hong Kong HSBC believed to be his principal accounts.
John Jack Ventures Ltd which is incorporated in the Bahamas and hold Babikian’s seven condos located at The Reef Atlantis, in Nassau, Bahamas. Babikian used a alias John Jack to make the purchases.
9264-5076 Quebec Inc which holds three lots located in Le Domaine des Berges, Laval, Quebec that Babikian acquired to build a new family residence.
9224-1249 Quebec Inc [Bargainoo Inc] is a company that is related to domain
www.bargainoo.com created and operated by Babikian.
Vertical International Relief Fund is an account used by Babikian for flying around the world in a private Gulfstream jet.
Tidal East Global Relief Fund holds shares of Energy Telecom (ENRG) for Babikian (I had a post about Babikian’s share ownership in ENRG on the IHUB that mysteriously got removed along with all other posts named John Babikian and/or Robert Kalfayan as Awesome Penny Stock insiders). On May 14, 2012, ENRG became the subject of an “APS fakeout promotion” and saw a giant intraday spike in price. My post about this “APS fakeout” linked to Babikian and Kalfayan has now been restored and can be seen
here.
Antica Ventures Ltd which holds a bank account for Babikian at the Belize Bank International Limited in Belize and shares in the company WOW Brands.
Kenora Overseas holds shares in RGMS Media Beeyoo for Babikian.
Monolith Ventures Ltd holds shares in YS Catering LLC / The Fresh Diet for Babikian.
Normandia Capital Corp holds shares in CBS Food, T-Grip and Skora, and some shares in ENRG for Babikian.
Fellow Trading Ltd holds shares in Ayala Herbal Water for Babikian.
Nottingham Capital Corp holds shares in Robofusion Inc/Puffin Innovations Inc for Babikian.
Montblue Commerce holds shares in Copa di Vina for Babikian.
One Berger Circle Holdings was used by Babikian to funnel money in order to build the family residence located at 445 des Anemones, Laval, Quebec.
Mediasky Holdings Ltd is a company recently incorporated in Belize by Babikian.
Liner Investments Ltd is a company recently incorporated in Seychelles Island by Babikian.
Intelligent Alliance Corp is a company recently incorporated in Seychelles Island by Babikian.
Aurora Intour Ltd is a company recently incorporated in Seychelles Island by Babikian.
Microtech Ventures Limited held bank accounts for Babikian.
9248-3247 Quebec Inc holds the pent house condominium located at 1300 Alain-Grandbois #702, Montreal, Quebec which was previously owned by Babikian but later ownership was transferred to an associate of Babikian named Alexandre Salameh who was possibly acting as a nominee for Babikian.
Besides his love for luxury homes and luxury condos, Babikian also splurged his ill gotten gains on cars. His collection included a 2008 Bugatti Veyron (the fastest and most expensive car in the world), a 2010 BMW X6, a 2010 Lamborghini Gallardo, and a 2010 Bentley Continent, estimated to be worth C$1.5m.
Alima Beg also claims that Babikian has formed or is in the process of forming companies in the Bahamas, the Seychelles Islands, St. Kitts, Nevis, Panama, Hong Kong, the British Virgin Islands, and Belize among possibly many others. Alima Beg told the courts that John Babikian is in the process of founding a bank in Guatemala so that he will be able to conduct banking transactions with impunity and not face expulsion by legitmate banks that do not want to handle his large and unexplained transactions. Babikian has already been expelled by the Royal Bank of Canada, HSBC in Switzerland, and the Bank of Montreal.
The court document lists the following bank accounts connected to John Babikian (which are no doubt only a portion of the accounts in controls around the world):
- Checking account number 002141277287 at the Bank of America, 7900 Melrose Ave, Los Angeles (routing numbers 122000661 and 121000358)
- Bank Accounts numbered 640-1447050838 and 640-144705-380 at HSBC in Hong Kong
- Bank Accounts numbered 62482800001 and 62482800002 at Compagnie Monegasque de Banque, 23 avenue de la Costa, Monaco, 98000
- Bank Account at CIBC First Caribbean Wealth Management Center, Shirley Street Branch, in Nassua, Bahamas
- Bank Account at the Belize Bank International Limited, The Matalon Business Center, 2nd floor, Coney Drive, Belize City, Belize
- Bank Account at the Belize Bank, 60 Market Square, Belize City, Belize
- Bank Accounts at Bank of Valletta p.l.c. in Valletta, Malta
- Bank account at Me
Leonnel Iruke IOLTA account, PLLC Omnisource Legal, in Houston, Texas, Wells Fargo Bank account number 8353698486
- Deposits in Me Michel Gauthier’s trust account in Terrebonne, Quebec
In the court document, Alima Beg says that Babikian fled Canada around one year ago moving to Monaco. Babikian applied for citizenship in several countries and is currently a citizen of Canada, Lebanon, Nevis, and Guatemala. She fears that between his personal jet and multiple citizenships that he will now be nearly impossible for authorities to catch. And just imagine, back in 2011 when some of my information about Babikian was first being sent to the authorities, Babikian could have easily been picked up right in Montreal or Los Angeles.
Also interesting in the court document is that Alima Beg talks about how Babikian declared Bankruptcy for two of his four companies he owned in Quebec during a 2010 audit conducted by the Minister of Revenue of Quebec. As part of that Bankruptcy, Babikian came up with $550,000 in debt for 9173-8153 Quebec Inc ($300,000 was listed as being owed to
Leonnel Iruke and the other $250,000 owed to a company called
Nick Thomas Ltd) and $175,000 in debt for 9195-5948 Quebec Inc all owed to a company allegedly located in Florida called First Spectacle Corp.
Leonnel Iruke is the same attorney that sent the IHUB a Cease and Desist letter to try to get posts naming John Babikian and his associates removed from the IHUB. His name is another name that has shown up often in our research reports.
Iruke was an insider for former APS pick, MILV, as well as the attorney that represented Awesome Penny Stocks in two separate lawsuits. See reports located here, here (including comments), and here for more details.
Leonnel Iruke operates under the legal name Omnisource Legal Group. Alima Beg says that
Leonnel Iruke is John Babikian’s personal attorney and works almost exclusively for John Babikian making him readily available to jump on a plane and meet Babikian in any part of the world at the drop of a hat.
Leonnel Iruke’s partner,
Emeka Uyamadu, has a
criminal conviction and had his license to practice law suspended. Last year Emeka Uyamadu was
disbarred.
Alima Beg says that
Michel Gauthier is John Babikian’s personal attorney in Quebec and that Gauthier would often help Babikian channel money through Gauthier’s trust account.
A similar but less detailed court document was also filed by Alima Beg in California found
here.
All this week Montreal reporter,
Jean-François Cloutier has been doing articles disclosing information about John Babikian and the lawsuit against him. I had the pleasure of communicating with Mr. Cloutier some before the articles came out.
<the following was gleaned from http://web.archive.org/web/20131029124350/http://promotionstocksecrets.com/awesome-penny-stocks-the-walls-come-tumbling-down due to a pay wall now in place> Our InterpretationIn some of my old research from 2011 I did definitively link John Babikian, Robert Kalfayan, Eric Van Nguyen,
AJ Thompson,
Jay Fung, and others to Awesome Penny Stocks. I believed that Eric Van Nguyen was the mastermind possibly still working under the guidance of previous powerful associates like
Tony Papa and
Alex Barta. I thought John Babikian and Robert Kalfayan were involved in the web hosting and spamming part of the organization. It turns out that John Babikian was quite possibly the key/main guy behind Awesome Penny Stocks.
We are still unsure at what point Eric Van Nguyen sold Awesome Penny Stocks to John Babikian or if Eric actually stayed involved. We know that when
Dino Paolucci of The Bull Exchange (TBX) was sued by Awesome Penny Stocks in the spring of 2012, Dino believed that Eric was still involved. Dino and Eric at one time used to work together. It is my personal belief that Eric Van Nguyen did stay involved and did make a very large amount of money like Babikian, but he did it without pissing off any women.
We have lots of research that backs up our beliefs that
Aaron Lamkin and
Scott Gelbard became very key players in the Awesome Penny Stocks organization at least as early as the summer of 2011. We published
our original research about Lamkin and Gelbard in early 2012. More recently with the help of some research from infitialis we were able to take that research much further in
this report that led to
a cyber attack against the Promotion Stock Secrets website.
So let’s break it all down:
- 1) In 2010, all Awesome Penny Stock promotions were run by the Babikian/Kalfayan crew (and likely Eric Van Nguyen too).
- 2) Initially they would team up with different groups that owned the Shell/Stock and controlled the structure and get paid a % of profits.
- 3) This was the beginning years that Babikian used his BMO Account because he was still young and did not understand the level of sophistication he would need to protect his identity and business. So in these years millions of dollars were run through the BMO Accounts, at which point BMO became suspicious, filed an SAR (Suspicous Activity Report) with Tax Authority and AMF. They demanded explanations from Babikian, his explanations were not satisfactory. Babikian in an effort to avoid any tax on his income moved assets around from his BMO account to offshore under the impression of “LOANS” this was in his first 2 years when he made $11.5 million.
- 4) From then on Babikian decided to work only offshore with
Bank Gutenberg and more importantly formed a relationship/partnership with a US group for the stock/shell side of things because of difficulties they would run into with getting cooperation on the timing of the press releases and other sensitive issues that could help the share price. This is when the Colorado Group got involved – Scott Gelbard/Aaron Lamkin/
Anthony Kerrigone. It was a match made in heaven as Babikian allegedly had a wine cellar containing a million in wine and Aaron Lamkin married into a very successful wine family. Many APS shells after this time would end up having some connection to wine. Scott Gelbard and Aaron Lamkin took care of the shell structure and the depositing of stock. Here is where they begin to make SERIOUS money. While this group did trading they all communicated via encrypted blackberries and would sell the stock from a shared account. We believe that Babikian, Gelbard, and Lamkin all got a cut of the profits with Babikian getting the largest cut. Kerrigone made his money by going short when they told him to stop supporting the promotion through Wilson Davis (WDCO). It appears that Kerrigone is a good trader shorting penny stocks but in reality he’s taking his payment for his role in the Awesome Penny Stock cartel that way. Learn more about Kerrigone and WDCO in
this report. Kerrigone has since changed firms and now does his work through market maker BMAK.
- 5) Babikian begins to make so much money he doesn’t care about his Canadian Assets. He lets the tax authority judgements default because he has a fortune of as much as $100mm offshore in Bank Gutenberg.
- 6) Babikian foolishly thinks he can buy assets in the USA, Los Angeles because he believes only the Canadian TAX authorities are out for him. He doesn’t know AMF, OSC, BCSC, SEC, and FBI are also after him. He buys one property and then another property in LA ($8.25mm CASH for both houses).
- 7) At some point, probably connected with the move to LA, the marriage between Alima Beg and Babikian breaks down. We heard Babikian cheated on his wife with LA girls (who knows) and she was his most trusted confidante. For years he told her all his secrets. As they say a woman scorned, she asks him for a divorce, and requests half his assets. He probably told her he had $100mm and so she asks for $50mm. Babikian tells her she isn’t getting anything and begins to transfer assets to his name even the $8.25mm in the LA properties. According to the lawsuit Babikian even goes as far as to hack her emails and facebook account in August of 2013.
-
A big fight ensues, and Alima Beg naively decides she is going after him without realizing that by going after him she exposes him and all the assets/money will be seized by the government.
- 9) Alima Beg files lawsuits in LA, Hong Kong, and Quebec against Babikian.
Now the secrets are out. The lawsuits filed by Alima against Babikian no doubt hurt Awesome Penny Stocks, but we believe that it was only one of many factors that took down Awesome Penny Stocks eventually leading to the promotional giant announcing its door were closing on October 21, 2013. Other factors for the retirement were:
A new commitment/interest by the FBI and SEC as well as foreign regulators which in the past all seemed to mysteriously ignore Awesome Penny Stocks allowing them to operate untouched. There is no question that the FBI has really started looking closely at Awesome Penny Stocks now.
The latest offshore clearing firm used by Awesome Penny Stocks and others, Bank Guttenberg AG, was rendered useless by the regulators who have been bombarding the fake bank with requests for information.
The Berlin stock exchange which has hosted every APS pick for almost 2 years has been taken out of play. Thanks to an active investigation, the Berlin stock exchange has not accepted a single new OTC ticker in more than 2 months.
The George Sharp lawsuits brought a level of negative attention to Awesome Penny Stocks that they hadn’t had to deal with in the past.
The SEC has placed a big target on the back of Awesome Penny Stock tickers. The last two APS tickers, PWEI and PCWT, have both gotten suspended. There is little doubt that the next APS ticker would have gotten suspended also.
So far to date all of the Awesome Penny Stock sites have been taken down, but the Victory Mark sites remain. It is no secret that Victory Mark is run by much of the same group involved in Awesome Penny Stocks so we’ll be surprised if Victory Mark continues to function much longer. The regulators know they are connected and so do all investors. The latest developments surrounding Awesome Penny Stocks will carry over to Victory Mark in more ways than one.
The walls have come tumbling down.
Special Thanks to infitialis for their contributions over the past few months.
10/26/13 UPDATEThis morning I received a message from the IHUB admin that all 30 posts that were inexplicably and maliciously removed have been restored.
The following is a list of the 30 posts that John Babikian had removed through the hacking of the IHUB website: <go to
http://promotionstocksecrets.com/awesome-penny-stocks-the-walls-come-tumbling-down/ to get the links for the post #s, thus saving me some time in linking them myelf>
10/28/11 post # 17318 by samsamsamiam on DD Support Board and Fraud Research Team
12/11/11 post # 19234 by nodummy on DD Support Board and Fraud Research Team
12/13/11 post # 19312 by nodummy on DD Support Board and Fraud Research Team
12/29/11 post # 1369 by samsamsamiam on North Springs Resources
12/29/11 post # 20027 by nodummy on DD Support Board and Fraud Research Team
12/30/11 post # 2929 by zomniac on North Springs Resources
12/31/11 post # 2997 by zomniac on North Springs Resources
01/03/12 post # 3706 by samsamsamiam on North Springs Resources
01/09/12 post # 5519 by zomniac on North Springs Resources
01/12/12 post # 6629 by samsamsamiam on North Springs Resources
01/13/12 post # 6699 by samsamsamiam on North Springs Resources
02/13/12 post # 22104 by samsamsamiam on DD Support Board and Fraud Research Team
02/15/12 post # 12932 by samsamsamiam on North Springs Resources
02/28/12 post # 5075 by janice shell on America West Resources, Inc.
03/02/12 post # 22819 by samsamsamiam on DD Support Board and Fraud Research Team
03/09/12 post # 23257 by samsamsamiam on DD Support Board and Fraud Research Team
04/21/12 post # 24713 by samsamsamiam on DD Support Board and Fraud Research Team
05/05/12 post # 25109 by nodummy on DD Support Board and Fraud Research Team
05/10/12 post # 25309 by samsamsamiam on DD Support Board and Fraud Research Team
06/26/12 post # 27681 by scion on DD Support Board and Fraud Research Team
06/26/12 post # 27682 by scion on DD Support Board and Fraud Research Team
06/26/12 post # 27686 by scion on DD Support Board and Fraud Research Team
06/26/12 post # 27692 by scion on DD Support Board and Fraud Research Team
06/26/12 post # 27693 by scion on DD Support Board and Fraud Research Team
06/26/12 post # 27704 by DaReal on DD Support Board and Fraud Research Team
06/29/12 post # 27856 by samsamsamiam on DD Support Board and Fraud Research Team
08/17/12 post # 29695 by EastCoastCdn on DD Support Board and Fraud Research Team
09/09/12 post # 31021 by nodummy on DD Support Board and Fraud Research Team
09/27/12 post # 276726 by Nilbud on STOCKGOODIES PLAYS OF THE WEEK
10/01/12 post # 5574 by Jimmy777 on Eaton Scientific Systems, Inc.
