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CMKX Shareholders Coalition: Multi-Trillion Dollar Class Action Suit Filed Against SEC

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CMKX Shareholders Coalition

Mar 15, 2010 09:00 ET

CMKX Shareholders Coalition: Multi-Trillion Dollar Class Action Suit Filed Against SEC, Complaint for Declaratory Judgement, and for Damages for Violation of Civil Rights

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 15, 2010) - United States District Court, Central District of California
Case number: CV10-00031 January 8, 2010
A Bivens Class Action law suit seeking $3.87 trillion in damages was filed on January 10, 2010 against five present and five past Security and Exchange Commission commissioners. A. Clifton Hodges of Hodges and Associates, Pasadena, Ca., filed the suit on behalf of seven named plaintiffs and "all others similarly situated".

The suit alleges CMKM Diamonds, Inc. was used as a vehicle in a joint sting operation conducted by the SEC, the Department of Justice (DoJ) of the United States, Robert A. Maheu and others. The suit contends between June 1, 2004 and October 28, 2005 "a total of 2.25 trillion 'phantom' shares of CMKM Diamonds, Inc. were sold into the public market through legitimate brokers, illegitimate brokers and dealers, market-makers, hedge funds, ex clearing transactions and private transactions."

The class action suit further alleges the 'Securities and Exchange Commission and the Department of Justice, with assistance from the Department of Homeland Security (DHS), believed and developed evidence that said short sellers were utilizing their activities to illegally launder moneys, wrongfully export moneys, avoid payment of taxes, and to support terrorist operations.'

The twenty-page complaint states the SEC, DoJ and the DHS, "consented to, facilitated and supported the conferences between Robert A. Maheu and his associates on the one hand and the wrongdoing short sellers on the other, all for the purpose of settling the potential liability of said wrongdoers with consent of the US Government and a representation of no criminal prosecution for such illegal sales."

According to Al Hodges filing, between March 2004 and August 2006 a settlement was reached on behalf of CMKM Diamonds, Inc. by Maheu, with assistance from others, and the alleged wrongdoers who had engaged in naked short selling of CMKM Diamonds, Inc. stock and cellar boxing the company. "In exchange for a US Government promise of no prosecution for such sales, the wrongdoers each promised to pay negotiated amounts to a frozen trust for disbursal at a later time."

The suit contends these monies and other monies resulting from the sale of claims to foreign entities were collected for the benefit of the shareholders of CMKM Diamonds Inc., and are being held in a trust, or held in trust by the Depository Trust & Clearing Corporation and the United States Treasury.

The $3.87 trillion dollar lawsuit states demands for the release of said monies has been "repeatedly" presented to the SEC and 'agents and employees of the SEC and the DoJ have represented repeatedly that the release of the monies was imminent."

The Al Hodges complaint charges, "As a result of the Defendant's misconduct, each of the named plaintiffs and all of those similarly situated, have been denied their Constitutional rights, including, but not limited to, their Fifth Amendment right to be secure in their property, free from taking without just compensation and without due process of law, and have suffered injuries and property loss in excess of Three Trillion Dollars."

A second law suit was filed against the SEC in Kelowna, British Columbia, Canada by a group of shareholders called the CMKX Shareholders Coalition for Justice. This suit alleges the SEC aided corrupt management of CMKM Diamonds, Inc. to sell unregistered securities. The Coalition produced an extensive evidence package presented in their lawsuit to corroborate those allegations.

(link to Al Hodges 3.87 trillion dollar Class Action suit)
Hodges Lawsuit

(link to CMKX Shareholders Coalition for Justice law suit)
Coalition Lawsuit

Company info:
CMKM Diamonds, Inc. (CMKX) is 'a tiny diamond mining company whose CEO, Urban Cassavant, told his investors of his hopes to create a million millionaires, but whose shareholders were instead led down an uncertain path where at times it is difficult to separate the guilty from the innocent and fact from fiction, a path fueled by rumors, innuendos and outright lies.' Mark Faulk, author of The Naked Truth.

CMKX Shareholders Coalition for Justice
101-1865 Dilworth Drive, Suite #169
Kelowna, British Columbia V1Y T1
telephone (250) 300-4832

For more information, please contact
CMKX Shareholders Coalition for Justice
A. Clifton Hodges, State Bar No. 046803
Hodges and Associates
(626) 564-9797
(626) 564-9111 (FAX)