.
Another Update From Mr. Al Hodges...
Hodges Update 9/16/2010
Summary -
Bad Guys Promise To Pay...
Hodges Believes Them...
Bad Guys Don't Pay...
Hodges Gives Them More Time.
I did agree with one part of the Update...
"Shortly after filing the original Complaint, I advised you of my opinion that resolution was imminent. I am confident that many of you are now convinced that I either don’t know the meaning of that word or am certifiably non compos mentis."
(Non compos mentis is a term meaning 'not of sound mind'.)
Amended Lawsuit From Hodges...
Amended Lawsuit 9/16/2010
Summary -
Some Additional Information...
No Hammer Of Evidence...
Same 'Threat of a Lawsuit' Strategy.
Which started about 9 MONTHS ago with the December 16th, 2009 Update...
December/2009 Update (Members Only)
"In an attempt to avoid protracted litigation we have seen to it that several attorneys at the SEC Office of General Counsel have a copy of the draft; we are further advised that the current SEC Commissioners are also aware [at least] of the pending filing.
Our expectation was [and still partially remains] that the individually named Commissioners will not want to answer our lawsuit, thus leaving themselves open to the discovery process.
The draft has been in SEC hands for approximately two weeks, and so far we have not received any response, meaningful or otherwise."
In spite of numerous 'NO WAY WE REFILE' assurances from Mr. Hodges, through his plaintiffs, here we are again at the mercy of the court.
It appears Mr. Hodges waited for 45 days to file this Amended Lawsuit, because he again believed shareholders would be paid before now.
Even now with this 'NO WAY REFILE', it does not appear that any additional hard core evidence is being presented to the Judge.
On the surface, it would appear it will take more than saying "Pretty Please" to get shareholders PAID...!!
.
Thursday, September 16, 2010
Thursday, September 9, 2010
******ATTENTION CMKX Shareholders****** ********One Week To Go For CMKX********
.
Mr. Hodges,
September 17th is now 1 week away.
Most of your 45 days are gone, and shareholders still have nothing.
For shareholders, this has just been another delay, another extension, which has done nothing to help shareholders.
If you don't need to refile for shareholders to get paid, why weren't shareholders paid 38 days ago?
If you are going to refile, you should have done it 38 days ago.
If you have to give your evidence to the judge, why didn't you do it 38 days ago?
Your August 15th update said the bank glitch of August 13th should have been corrected over that weekend...
That was a month ago.
Why hasn't ER been announced?
Why haven't shareholders been paid?
I'm sure you're dancing as fast as you can, but as far as shareholders are concerned, this lawsuit has accomplished nothing.
You may not technically represent the 50,000 shareholders yet, but even your 7 plaintiffs seem to have no idea of what you are doing.
Each of the plaintiffs who do talk to the shareholders have a different story...
And their stories & moods change every few days.
What excuse is there for even the plaintiffs not being on the same page about the lawsuit?
Some of them have even said they have no clue about what will happen if shareholders do not get paid by the filing deadline next week.
They really don't sound very confident.
And they are supposed to know what you are doing.
How do you think the other 50,000 shareholders feel...??
.
Mr. Hodges,
September 17th is now 1 week away.
Most of your 45 days are gone, and shareholders still have nothing.
For shareholders, this has just been another delay, another extension, which has done nothing to help shareholders.
If you don't need to refile for shareholders to get paid, why weren't shareholders paid 38 days ago?
If you are going to refile, you should have done it 38 days ago.
If you have to give your evidence to the judge, why didn't you do it 38 days ago?
Your August 15th update said the bank glitch of August 13th should have been corrected over that weekend...
That was a month ago.
Why hasn't ER been announced?
Why haven't shareholders been paid?
I'm sure you're dancing as fast as you can, but as far as shareholders are concerned, this lawsuit has accomplished nothing.
You may not technically represent the 50,000 shareholders yet, but even your 7 plaintiffs seem to have no idea of what you are doing.
Each of the plaintiffs who do talk to the shareholders have a different story...
And their stories & moods change every few days.
What excuse is there for even the plaintiffs not being on the same page about the lawsuit?
Some of them have even said they have no clue about what will happen if shareholders do not get paid by the filing deadline next week.
They really don't sound very confident.
And they are supposed to know what you are doing.
How do you think the other 50,000 shareholders feel...??
.
Monday, August 30, 2010
******ATTENTION CMKX Shareholders****** *****The REAL Story Of CMKM Diamonds*****
.
CNN iReport - $3.87 TRILLION Lawsuit SECrets Video
The REAL story of CMKM Diamonds and the sting/fraud/deception/damage by the SEC.
*************
From Cmkx20Ten Blog On 8/26/2010...
Mr. Hodges,
Now that the lawsuit has been dismissed, do you think it may be time to reveal the overwhelming evidence you're supposed to have?
It's been 8 months since you expected the bad guys to roll over because you threatened to file this lawsuit. They obviously are not going to voluntarily pay the shareholders.
30 days...?? 45 days...??
You should have been ready to refile the lawsuit with ALL the evidence about 10 minutes after the judge dismissed the case...!!
How can it possibly be good for the case, the plaintiffs, the shareholders, to delay shoving this evidence down the throats of the bad guys...??
Do you really still believe them when they say for the umpteenth time that they are going to pay shareholders...??
It is painfully obvious that they will NEVER pay the shareholders unless they are FORCED to do so. You should have realized that MONTHS AGO, instead of expecting them to give in to your threats of exposure.
Your poor excuse for an update, with most of the info copied from the last worthless update, confirms that you are still buying every excuse they give you for not paying shareholders...
" I still believe that will be in the near future; the most recent schedule, based on communication I received, was that it should have been finished by August 13; somehow at the very last moment, the bank was not available [?] to conclude the necessary transfers. This newest problem, I’m told, is being dealt with this weekend. "
That 'weekend' was almost 2 weeks ago...
Are you still waiting...??
Shareholders are desperately waiting for you to use the evidence you have, instead of just hinting to the judge that you may have additional info...!!
P.S. - This Just In...
8/25/2010
(11:35 PM) very_tired15: Al said we are exremely close. He also said there is no way he will need to file the 1st Amended Complaint
(11:44 PM) very_tired15: just got off the phone with Al and Salty... it was very positive
Do you really think shareholders are still buying this crap...??
.
CNN iReport - $3.87 TRILLION Lawsuit SECrets Video
The REAL story of CMKM Diamonds and the sting/fraud/deception/damage by the SEC.
*************
From Cmkx20Ten Blog On 8/26/2010...
Mr. Hodges,
Now that the lawsuit has been dismissed, do you think it may be time to reveal the overwhelming evidence you're supposed to have?
It's been 8 months since you expected the bad guys to roll over because you threatened to file this lawsuit. They obviously are not going to voluntarily pay the shareholders.
30 days...?? 45 days...??
You should have been ready to refile the lawsuit with ALL the evidence about 10 minutes after the judge dismissed the case...!!
How can it possibly be good for the case, the plaintiffs, the shareholders, to delay shoving this evidence down the throats of the bad guys...??
Do you really still believe them when they say for the umpteenth time that they are going to pay shareholders...??
It is painfully obvious that they will NEVER pay the shareholders unless they are FORCED to do so. You should have realized that MONTHS AGO, instead of expecting them to give in to your threats of exposure.
Your poor excuse for an update, with most of the info copied from the last worthless update, confirms that you are still buying every excuse they give you for not paying shareholders...
" I still believe that will be in the near future; the most recent schedule, based on communication I received, was that it should have been finished by August 13; somehow at the very last moment, the bank was not available [?] to conclude the necessary transfers. This newest problem, I’m told, is being dealt with this weekend. "
That 'weekend' was almost 2 weeks ago...
Are you still waiting...??
Shareholders are desperately waiting for you to use the evidence you have, instead of just hinting to the judge that you may have additional info...!!
P.S. - This Just In...
8/25/2010
(11:35 PM) very_tired15: Al said we are exremely close. He also said there is no way he will need to file the 1st Amended Complaint
(11:44 PM) very_tired15: just got off the phone with Al and Salty... it was very positive
Do you really think shareholders are still buying this crap...??
.
Sunday, August 22, 2010
******ATTENTION CMKX Shareholders****** ***Wall Street SECrets EXPOSED Video*** ***The REAL Story Of CMKM Diamonds***
.
CNN iReport - $3.87 TRILLION Lawsuit SECrets Video
The REAL story of CMKM Diamonds and the sting/fraud/deception/damage by the SEC.
Other videos at... My Gallery / angelheartvideos
More CMKX Info... Cmkx20Ten
.
CNN iReport - $3.87 TRILLION Lawsuit SECrets Video
The REAL story of CMKM Diamonds and the sting/fraud/deception/damage by the SEC.
Other videos at... My Gallery / angelheartvideos
More CMKX Info... Cmkx20Ten
.
Wednesday, August 18, 2010
******ATTENTION CMKX Shareholders****** **Another Interim Non-Update From Hodges**
.
Hodges and Associates INTERIM UPDATE
« Thread Started on Aug 15, 2010, 11:28am »
Hodges Non-Update
We have, as you are now more than aware, confronted a serious headwind to obtaining Economic Receipt. Although I have previously stated that I would not provide an “update” until we had confirmation of economic receipt or, I became convinced that payment to CMKX shareholders would not be forthcoming in a timely manner, it is now apparent that several matters need to be addressed:
• I am an attorney and have been retained by seven brave and exceptional shareholders that represent a cross section of the proposed class; as such, I act at all times as their counsel.
• At this instant in time, I literally represent only the seven named plaintiffs; as a result, I am constrained in the types and extent of information which I can provide to putative members of the class. As we’ve said before, the status of the litigation can at all times be monitored on PACER.
• As a point of fact, the recent Court hearing was utilized in part as a means of conveying to the Judge and to the defendants, some of the additional information which can [if necessary] be added to our complaint to comply with The Federal Rules of Civil Procedure. We have not been thrown out of Court; the Judge, on his own, granted additional time for us to file an amended Complaint.
• If necessary [which I still believe not] we will file an amended complaint specifying in more detail exactly how the individual Commissioners caused harm of Constitutional dimension to the CMKX shareholders. This litigation will be aggressively pursued until such time as all shareholders have been paid.
I remain convinced that we will prevail. The belief of some that yelling and screaming, loudly and publicly enough, can somehow “force” release of the CMKX moneys, is erroneous and misplaced; it will not. Why won’t it help, you ask; it can’t help when the core problem is the White House. I believe that the SEC is anxious for this to be over; however, it is not the SEC that holding things up, IMO. I do believe that media exposure is beneficial in the sense that it keeps the pressure on the entire financial community.
Inquiring minds want to know: what is our status; what has been going on; what is holding up economic receipt; when will our money be released; and how much money is there? As before, I will address each of these questions, to the extent I am able, separately:
1. How Much Money – As I have said before, we have persuasive evidence to all of the facts alleged as such in the complaint; accordingly, there is a total of 3.87 Trillion Dollars.
2. When is Release – The CMKX distribution funds will be released within a very short time after there is confirmation of Economic Receipt. What does that mean? It means that currently in process is a massive shift of wealth within the US and the world community; that includes: pay-out of all the domestic settlements; institution of the US dollar re-funding project; pay-out of world settlements; and, distribution of funds to many other programs. This involves a total of more than $ 42 Trillion. Economic Receipt occurs when all trustees have access to all of the funds they are responsible for.
3. Our Status – As I advised in April, we are literally on the thresh-hold. This means that the “work” remaining to be finished will not consume more hours than can be accomplished within one day. We have been at this point now for more than three months [!].
4. The Delay – Although I could write a book about what’s been going on behind the scenes [and may one day] to cause this additional delay, I’ll try to give you the condensed version:
First - Please be aware and understand that there is an economic war raging in the background; this war is between those who have controlled this planet for the last hundred and fifty years, and we who think that it must stop.
Second - The naked corruption that is endemic in D.C. is more than most can comprehend; it is clear that these miscreants have no regard for the US Constitution, Federal Laws and Regulations, nor even any sense of simple morality. They are convinced that they are above any constraint that might apply to lesser mortals, and that no enforcement activity will ever successfully address them. I hasten to add that such opinions are not universal; having said that, it is more widespread than not. I can add that some large number of bankers and others have now been arrested and/or indicted; this, in combination with substantial repatriation of “stolen” moneys, is having a significant impact on the balance of power shifting in our favor.
Third - These miscreants are, in effect, fighting for their lives – at least that part of their lives that establishes an environment in which they can continue to lie, cheat, steal, and mortgage your progeny’s lives, all for their personal gain. Accordingly, they will fight until the doors are all closed by a power that they cannot subvert. That fight continues as I prepare this interim update.
Fourth - The good news is, we are winning the battle. The circle within which these bad apples can operate draws inexorably smaller with each attempt to bribe, suborn and otherwise corrupt the system, and the people within it.
Fifth – By what date will we have Economic Receipt, you ask. We will have it when this initial battle phase comes to a successful conclusion. I still believe that will be in the near future; the most recent schedule, based on communication I received, was that it should have been finished by August 13; somehow at the very last moment, the bank was not available [?] to conclude the necessary transfers. This newest problem, I’m told, is being dealt with this weekend.
I want to extend my heartfelt thanks to those of you who continue to demonstrate support and encouragement for our efforts. We remain very optimistic for the long term. Rest assured that the fight will continue until we succeed. We will prevail.
Al Hodges
.
Hodges and Associates INTERIM UPDATE
« Thread Started on Aug 15, 2010, 11:28am »
Hodges Non-Update
We have, as you are now more than aware, confronted a serious headwind to obtaining Economic Receipt. Although I have previously stated that I would not provide an “update” until we had confirmation of economic receipt or, I became convinced that payment to CMKX shareholders would not be forthcoming in a timely manner, it is now apparent that several matters need to be addressed:
• I am an attorney and have been retained by seven brave and exceptional shareholders that represent a cross section of the proposed class; as such, I act at all times as their counsel.
• At this instant in time, I literally represent only the seven named plaintiffs; as a result, I am constrained in the types and extent of information which I can provide to putative members of the class. As we’ve said before, the status of the litigation can at all times be monitored on PACER.
• As a point of fact, the recent Court hearing was utilized in part as a means of conveying to the Judge and to the defendants, some of the additional information which can [if necessary] be added to our complaint to comply with The Federal Rules of Civil Procedure. We have not been thrown out of Court; the Judge, on his own, granted additional time for us to file an amended Complaint.
• If necessary [which I still believe not] we will file an amended complaint specifying in more detail exactly how the individual Commissioners caused harm of Constitutional dimension to the CMKX shareholders. This litigation will be aggressively pursued until such time as all shareholders have been paid.
I remain convinced that we will prevail. The belief of some that yelling and screaming, loudly and publicly enough, can somehow “force” release of the CMKX moneys, is erroneous and misplaced; it will not. Why won’t it help, you ask; it can’t help when the core problem is the White House. I believe that the SEC is anxious for this to be over; however, it is not the SEC that holding things up, IMO. I do believe that media exposure is beneficial in the sense that it keeps the pressure on the entire financial community.
Inquiring minds want to know: what is our status; what has been going on; what is holding up economic receipt; when will our money be released; and how much money is there? As before, I will address each of these questions, to the extent I am able, separately:
1. How Much Money – As I have said before, we have persuasive evidence to all of the facts alleged as such in the complaint; accordingly, there is a total of 3.87 Trillion Dollars.
2. When is Release – The CMKX distribution funds will be released within a very short time after there is confirmation of Economic Receipt. What does that mean? It means that currently in process is a massive shift of wealth within the US and the world community; that includes: pay-out of all the domestic settlements; institution of the US dollar re-funding project; pay-out of world settlements; and, distribution of funds to many other programs. This involves a total of more than $ 42 Trillion. Economic Receipt occurs when all trustees have access to all of the funds they are responsible for.
3. Our Status – As I advised in April, we are literally on the thresh-hold. This means that the “work” remaining to be finished will not consume more hours than can be accomplished within one day. We have been at this point now for more than three months [!].
4. The Delay – Although I could write a book about what’s been going on behind the scenes [and may one day] to cause this additional delay, I’ll try to give you the condensed version:
First - Please be aware and understand that there is an economic war raging in the background; this war is between those who have controlled this planet for the last hundred and fifty years, and we who think that it must stop.
Second - The naked corruption that is endemic in D.C. is more than most can comprehend; it is clear that these miscreants have no regard for the US Constitution, Federal Laws and Regulations, nor even any sense of simple morality. They are convinced that they are above any constraint that might apply to lesser mortals, and that no enforcement activity will ever successfully address them. I hasten to add that such opinions are not universal; having said that, it is more widespread than not. I can add that some large number of bankers and others have now been arrested and/or indicted; this, in combination with substantial repatriation of “stolen” moneys, is having a significant impact on the balance of power shifting in our favor.
Third - These miscreants are, in effect, fighting for their lives – at least that part of their lives that establishes an environment in which they can continue to lie, cheat, steal, and mortgage your progeny’s lives, all for their personal gain. Accordingly, they will fight until the doors are all closed by a power that they cannot subvert. That fight continues as I prepare this interim update.
Fourth - The good news is, we are winning the battle. The circle within which these bad apples can operate draws inexorably smaller with each attempt to bribe, suborn and otherwise corrupt the system, and the people within it.
Fifth – By what date will we have Economic Receipt, you ask. We will have it when this initial battle phase comes to a successful conclusion. I still believe that will be in the near future; the most recent schedule, based on communication I received, was that it should have been finished by August 13; somehow at the very last moment, the bank was not available [?] to conclude the necessary transfers. This newest problem, I’m told, is being dealt with this weekend.
I want to extend my heartfelt thanks to those of you who continue to demonstrate support and encouragement for our efforts. We remain very optimistic for the long term. Rest assured that the fight will continue until we succeed. We will prevail.
Al Hodges
.
Thursday, August 5, 2010
******ATTENTION CMKX Shareholders****** *Hodges Draws Line In The Sand 8/9/2010*
.
Mr. Hodges Shoots Down Rumor Of Notification On Thursday 8/5/2010.
However, well known plaintiff wyatt, said that Mr. Hodges said an announcement can come at ANY TIME, but DEFINITELY before Monday 8/9/2010...!!
That whole 'Line In The Sand' thing...!!
Nothing can get through a line in the sand, except of course for some things like wind or rain or a good stiff broom...!!
Hopefully, the SEC or whatever party keeps blocking our payment, hasn't heard about wind or rain or any of those things.
Mr. Hodges Shoots Down Rumor Of Notification On Thursday 8/5/2010.
However, well known plaintiff wyatt, said that Mr. Hodges said an announcement can come at ANY TIME, but DEFINITELY before Monday 8/9/2010...!!
That whole 'Line In The Sand' thing...!!
Nothing can get through a line in the sand, except of course for some things like wind or rain or a good stiff broom...!!
Hopefully, the SEC or whatever party keeps blocking our payment, hasn't heard about wind or rain or any of those things.
Thursday, May 20, 2010
******ATTENTION CMKX Shareholders****** **Hodges and Associates UPDATE 5/20/2010**
Hodges and Associates Update
We have, as many have speculated, confronted a serious headwind to obtaining Economic Receipt. In my continuing efforts to resolve this matter I have recently communicated directly with the President of the United States. Although it was not my original intention to share this correspondence, it now seems prudent and necessary to do so. The letters are set forth below the next paragraph; they should be self-explanatory.
Earlier this afternoon I also sent the following to my associates in London:
“I have attached several letters which I have recently had occasion to have delivered to the President of these United States. They are, I believe, self explanatory as to what continues to take place in this land, which continues to frustrate the completion of distribution of the World Global Settlements. These Settlements, of course, includes monies for the US Dollar refunding project as an integral portion.
I believe the British Monarch needs to be aware of the exact cause of the continued delay in concluding this matter. It lies squarely in the Whitehouse in Washington, D.C. Your cooperation and assistance is hereby solicited; please ensure that Her Majesty, and other interested Monarchal parties, are advised of the circumstances which pertain. To that end, please feel free to make such use of these letters as may in your sole discretion be required.”
I took this action because the British Monarch is as anxious as many Settlement payees to have this matter resolved; accordingly, she is an ally and needs to be kept up to date regarding what’s actually transpiring.
TEXT OF LETTERS
May 14, 2010
MOST URGENT VIA FACSIMILE ONLY
Honorable Barack Obama
President of the United States of America
Whitehouse
Washington, D.C.
Dear Mr. President:
I write to you this morning because people within your current administration continue to frustrate dissemination of the World Global Settlements; I am advised today that Mr. Leon Panetta participated in this act on May 14, 2010. I represent some 50,000 shareholders who are to be paid a settlement which consists mainly of monies collected from banks, brokerages, hedge fund corps, market makers, the Depository Trust Corporation/Federal Reserve, and various billionaire “naked-shorter” individuals, as well as some monies due from the SEC for damages. These various monies collected have been held far longer than they should have been, and were swept into the World Global Settlements, thereby delaying payment even further. Taxes were paid into the U.S. Treasury due on these “Settlements” on December 30th and 31st; distribution of these settlement funds could not legally be withheld past midnight of February 14th, 2010.
The continued holding of these settlement funds results in the violation of more laws such as “banking fraud,” “trust fund violations,” and, in times of war, “International Financial Terrorism.” These charges are not at the discretion of the government to overlook in the name of withholding monies that are not its property, nor its right to hold – especially given that now the Treasury is in “DEFAULT” and owned in large part by the Chinese government.
I am aware you have issued an “Executive Order” giving the diplomatic parties of Interpol, the Chinese, the Swiss, and the U.K. (MI6), the means to enforce, with all due power, dissemination of the “Settlements.” They clearly are relying on your power to assist this effort and to stop cabinet members of your staff and CIA factions from blocking the Global World Settlements. They are relying on you to exhibit your inherent Presidential character such as integrity and respect for the law, and to recognize the gravity of delaying such an important event intended to rescue not only the immediate US banking community, but to support a recalibration and refitting of various currencies and economies on a world scale necessary to abate the global collapse of economies everywhere.
We are all well aware of the “derivatives,” the Ponzi schemes of the Federal Reserve creating debt out of thin air, the real estate debacle of SIV’s and CDO’s, the “Naked Shorting” in the stock market, and the market’s overall vast manipulation for the profit of the few. The global economy needs these “Settlements” to initiate recovery, and to switch to the new asset-backed US Treasury dollars.
Mr. President, the people elected you for reasons of your promises, your apparent integrity, your conviction to help the American people uphold justice, and to return this Nation to its pre-eminent world status. Please use your good offices to ensure these “Settlements” are disseminated without further delay.
Sincerely,
HODGES AND ASSOCIATES
A. CLIFTON HODGES
ACH/gm
Cc: Lindell H. Bonney, Sr.
Clients
May 20, 2010
MOST URGENT VIA FACSIMILE ONLY
Honorable Barack Obama
President of the United States of America
Whitehouse
Washington, D.C.
Dear Mr. President:
I write to you again this morning because your immediate personal assistance is required to ensure prompt dissemination of the World Global Settlements. As I have previously stated, I represent some 50,000 shareholders who are to be paid a settlement which consists mainly of monies collected from banks, brokerages, hedge fund corps, market makers, the Depository Trust Corporation/Federal Reserve, and various billionaire “naked-shorter” individuals, as well as some monies due from the SEC for damages. I have also been involved in the representation of other payees awaiting this distribution and have, in such capacity, been in direct communication with the UK Royal Monarch.
I am currently advised and understand the following:
• A portion of the World Global Settlement funds have been collected and are presently held in the custody of the Bank of America in Richmond, VA.
• Said funds are sufficient to cover all disbursements to be made by the authority of the Paymaster who has now spent more than eight weeks over the past three months, in Richmond, for the purpose of concluding these transfers.
• The Paymaster authority has, at the direction of the Pentagon, London, et. al., recently returned to Richmond to consummate the transfers; he was advised yesterday morning at Bank of America that the bank could not allow the transfers to be made until one additional signature was obtained.
• Accordingly, on May 19, 2010 an agent of Interpol began a hand-carry trip through Little Rock, Arkansas, to Charleston, South Carolina, and then on to Richmond, Virginia; the hand carried item was presented to the Bank of America officer this morning.
• The Bank of America officer then advised the Paymaster authority that Mr. Leon Panetta had instructed Bank of America that no World Global Settlement funds were to be disbursed without express personal approval from the President of the United States.
• I have previously been advised that you had given specific written authorization of these transfers when you visited the Richmond Bank of America several weeks ago.
As I advised yesterday in my communication to you, I am persuaded by these facts, that only your direct intervention will be efficacious in bringing this matter to conclusion. Mr. President, please provide, once again, your specific written authority and direction to those who continue to frustrate completion of these World Global Settlements. I would very much appreciate your written confirmation that you will do so without delay; accordingly, I will withhold further communication to the UK Royal Monarch and distribution of this correspondence to my clients until 4:30 PM EDT today.
Mr. President, the people elected you for reasons of your promises, your apparent integrity, your conviction to help the American people uphold justice, and to return this Nation to its pre-eminent world status. I implore you to use your good offices to ensure these “Settlements” are disseminated without further delay.
Sincerely,
HODGES AND ASSOCIATES
A. CLIFTON HODGES
ACH/gm
Cc: Her Majesty, Queen Elizabeth II
Lindell H. Bonney, Sr.
Clients
PS. These letters were FAXed directly to the President's FAX machine; we have confirmed with the Whitehouse Communication Center that they were personally received by the President - not his staff!
We have, as many have speculated, confronted a serious headwind to obtaining Economic Receipt. In my continuing efforts to resolve this matter I have recently communicated directly with the President of the United States. Although it was not my original intention to share this correspondence, it now seems prudent and necessary to do so. The letters are set forth below the next paragraph; they should be self-explanatory.
Earlier this afternoon I also sent the following to my associates in London:
“I have attached several letters which I have recently had occasion to have delivered to the President of these United States. They are, I believe, self explanatory as to what continues to take place in this land, which continues to frustrate the completion of distribution of the World Global Settlements. These Settlements, of course, includes monies for the US Dollar refunding project as an integral portion.
I believe the British Monarch needs to be aware of the exact cause of the continued delay in concluding this matter. It lies squarely in the Whitehouse in Washington, D.C. Your cooperation and assistance is hereby solicited; please ensure that Her Majesty, and other interested Monarchal parties, are advised of the circumstances which pertain. To that end, please feel free to make such use of these letters as may in your sole discretion be required.”
I took this action because the British Monarch is as anxious as many Settlement payees to have this matter resolved; accordingly, she is an ally and needs to be kept up to date regarding what’s actually transpiring.
TEXT OF LETTERS
May 14, 2010
MOST URGENT VIA FACSIMILE ONLY
Honorable Barack Obama
President of the United States of America
Whitehouse
Washington, D.C.
Dear Mr. President:
I write to you this morning because people within your current administration continue to frustrate dissemination of the World Global Settlements; I am advised today that Mr. Leon Panetta participated in this act on May 14, 2010. I represent some 50,000 shareholders who are to be paid a settlement which consists mainly of monies collected from banks, brokerages, hedge fund corps, market makers, the Depository Trust Corporation/Federal Reserve, and various billionaire “naked-shorter” individuals, as well as some monies due from the SEC for damages. These various monies collected have been held far longer than they should have been, and were swept into the World Global Settlements, thereby delaying payment even further. Taxes were paid into the U.S. Treasury due on these “Settlements” on December 30th and 31st; distribution of these settlement funds could not legally be withheld past midnight of February 14th, 2010.
The continued holding of these settlement funds results in the violation of more laws such as “banking fraud,” “trust fund violations,” and, in times of war, “International Financial Terrorism.” These charges are not at the discretion of the government to overlook in the name of withholding monies that are not its property, nor its right to hold – especially given that now the Treasury is in “DEFAULT” and owned in large part by the Chinese government.
I am aware you have issued an “Executive Order” giving the diplomatic parties of Interpol, the Chinese, the Swiss, and the U.K. (MI6), the means to enforce, with all due power, dissemination of the “Settlements.” They clearly are relying on your power to assist this effort and to stop cabinet members of your staff and CIA factions from blocking the Global World Settlements. They are relying on you to exhibit your inherent Presidential character such as integrity and respect for the law, and to recognize the gravity of delaying such an important event intended to rescue not only the immediate US banking community, but to support a recalibration and refitting of various currencies and economies on a world scale necessary to abate the global collapse of economies everywhere.
We are all well aware of the “derivatives,” the Ponzi schemes of the Federal Reserve creating debt out of thin air, the real estate debacle of SIV’s and CDO’s, the “Naked Shorting” in the stock market, and the market’s overall vast manipulation for the profit of the few. The global economy needs these “Settlements” to initiate recovery, and to switch to the new asset-backed US Treasury dollars.
Mr. President, the people elected you for reasons of your promises, your apparent integrity, your conviction to help the American people uphold justice, and to return this Nation to its pre-eminent world status. Please use your good offices to ensure these “Settlements” are disseminated without further delay.
Sincerely,
HODGES AND ASSOCIATES
A. CLIFTON HODGES
ACH/gm
Cc: Lindell H. Bonney, Sr.
Clients
May 20, 2010
MOST URGENT VIA FACSIMILE ONLY
Honorable Barack Obama
President of the United States of America
Whitehouse
Washington, D.C.
Dear Mr. President:
I write to you again this morning because your immediate personal assistance is required to ensure prompt dissemination of the World Global Settlements. As I have previously stated, I represent some 50,000 shareholders who are to be paid a settlement which consists mainly of monies collected from banks, brokerages, hedge fund corps, market makers, the Depository Trust Corporation/Federal Reserve, and various billionaire “naked-shorter” individuals, as well as some monies due from the SEC for damages. I have also been involved in the representation of other payees awaiting this distribution and have, in such capacity, been in direct communication with the UK Royal Monarch.
I am currently advised and understand the following:
• A portion of the World Global Settlement funds have been collected and are presently held in the custody of the Bank of America in Richmond, VA.
• Said funds are sufficient to cover all disbursements to be made by the authority of the Paymaster who has now spent more than eight weeks over the past three months, in Richmond, for the purpose of concluding these transfers.
• The Paymaster authority has, at the direction of the Pentagon, London, et. al., recently returned to Richmond to consummate the transfers; he was advised yesterday morning at Bank of America that the bank could not allow the transfers to be made until one additional signature was obtained.
• Accordingly, on May 19, 2010 an agent of Interpol began a hand-carry trip through Little Rock, Arkansas, to Charleston, South Carolina, and then on to Richmond, Virginia; the hand carried item was presented to the Bank of America officer this morning.
• The Bank of America officer then advised the Paymaster authority that Mr. Leon Panetta had instructed Bank of America that no World Global Settlement funds were to be disbursed without express personal approval from the President of the United States.
• I have previously been advised that you had given specific written authorization of these transfers when you visited the Richmond Bank of America several weeks ago.
As I advised yesterday in my communication to you, I am persuaded by these facts, that only your direct intervention will be efficacious in bringing this matter to conclusion. Mr. President, please provide, once again, your specific written authority and direction to those who continue to frustrate completion of these World Global Settlements. I would very much appreciate your written confirmation that you will do so without delay; accordingly, I will withhold further communication to the UK Royal Monarch and distribution of this correspondence to my clients until 4:30 PM EDT today.
Mr. President, the people elected you for reasons of your promises, your apparent integrity, your conviction to help the American people uphold justice, and to return this Nation to its pre-eminent world status. I implore you to use your good offices to ensure these “Settlements” are disseminated without further delay.
Sincerely,
HODGES AND ASSOCIATES
A. CLIFTON HODGES
ACH/gm
Cc: Her Majesty, Queen Elizabeth II
Lindell H. Bonney, Sr.
Clients
PS. These letters were FAXed directly to the President's FAX machine; we have confirmed with the Whitehouse Communication Center that they were personally received by the President - not his staff!
Tuesday, April 27, 2010
******ATTENTION CMKX Shareholders****** **Hodges and Associates INTERIM UPDATE**
Hodges Update
I have previously stated that I would not provide an “update” until we had confirmation of economic receipt or, I became convinced that payment to CMKX shareholders would not be forthcoming in a timely manner. This “Interim Update” is the exception that proves the rule, so to speak. However, it has been a relatively long period [certainly more than I originally anticipated] since I communicated with the shareholders at large, and there is material information to impart.
Before providing some information about what has been transpiring and our current status, let me address a few other matters:
• I am an attorney and have been retained by seven brave and exceptional shareholders that represent a cross section of the proposed class.
• The Bivens action which I have filed not only sets forth the facts as I know them, it seeks to become a class-action on behalf of all shareholders.
• At this instant in time however, I literally represent only the seven named plaintiffs; as a result, I am constrained in the types and extent of information which I can provide to putative members of the class.
• In the unlikely event that this litigation continues forward, a motion will be filed with the Court requesting that a class be certified. If granted, at that point I will, presumably, be appointed by the Court to continue acting as counsel for the class; thereafter, the Court will be required to approve any and all settlements, and others matters.
• The status of the litigation can at all times be monitored on PACER; as a result, we do not respond to inquiries at my office; accordingly, please do not contact us directly for such information.
• For everyone’s information, all defendant’s have been served, and an initial scheduling conference, originally set by the Court to be held on April 26, 2010 has been continued by mutual agreement of the parties [with consent of the Court] to July 26, 2010.
• The litigation will be aggressively pursued until such time as all CMKX shareholders have been paid.
In a similar vein, please understand that we are not involved in any ongoing negotiations with the SEC and/or their representatives with a view to compromising and/or otherwise attempting to resolve claims of the shareholders. We have set forth in the complaint what the shareholders are entitled to receive; compromise is not anything that the shareholders want, desire, or would tolerate or accept.
The belief of some that yelling and screaming, loudly and publicly enough, can somehow “force” release of the CMKX moneys, is erroneous and misplaced; it will not. Having said that, I do believe that media exposure is beneficial in the sense that it keeps the pressure on the entire financial community.
Inquiring minds want to know: what is our status; what has been going on; what is holding up economic receipt; when will our money be released; and how much money is there? Let me address each of these questions, to the extent I am able, separately:
1. How Much Money – As I have said before, we have persuasive evidence to all of the facts alleged as such in the complaint; accordingly, there is a total of 3.87 Trillon Dollars.
2. When is Release – The CMKX distribution funds will be released within a very short time after there is confirmation of Economic Receipt. What does that mean? It means that currently in process is a massive shift of wealth within the US and the world community; that includes: pay out of all the domestic settlements; institution of the US dollar re-funding project; pay out of world settlements; and, distribution of funds to many other programs. This involves a total of more than $ 42 Trillion. Economic Receipt occurs when all trustees have access to all of the funds they are responsible for.
3. Our Status – We are literally on the thresh-hold. This means that the “work” remaining to be finished will not consume more hours than can be accomplished within one day. We have been at this point now for more than a few weeks.
4. The Delay – Although I could write a book about what’s been going on behind the scenes to cause this additional delay, I’ll try to give you the condensed version:
First - Please be aware and understand that there is an economic war raging in the background.
Second - The naked corruption that is endemic in D.C. is more than most can comprehend; it is clear that these miscreants have no regard for the US Constitution, Federal Laws and Regulations, nor even any sense of simple morality. They are convinced that they are above any constraint that might apply to lesser mortals and that no enforcement activity will ever successfully address them. I hasten to add that such opinions are not universal; having said that, it is more widespread than not.
Third - These miscreants are, in effect, fighting for their lives – at least that part of their lives that establishes an environment in which they can continue to lie, cheat, steal, and mortgage your progeny’s lives, all for their personal gain. Accordingly, they will fight until the doors are all closed by a power that they cannot subvert. That fight continues as I prepare this interim update.
Fourth - The good news is, we are winning the battle. The circle within which these bad apples can operate draws inexorably smaller with each attempt to bribe, suborn and otherwise corrupt the system, and the people within it. By way of example, I was advised that over the weekend one State Department person, 10 bankers and 18 Federal Reserve people were arrested and dealt with.
Fifth – By what date will we have Economic Receipt, you ask. We will have it when this initial battle phase comes to a successful conclusion. That will be in the very near future in my opinion; the current schedule based on advice I received this afternoon is that it should all be finished, with funds in the Trustee’s hands, by week’s end.
I want to extend our heartfelt thanks to those of you who continue to demonstrate support and encouragement for our efforts. We remain very optimistic for the long term. Rest assured that the fight will continue, and we will prevail.
Al Hodges
Editor's Note - Thanks Mr. Hodges for all the information in your update...
Even though it wasn't the 'done or far from being done' update you promised us...!!
I hope you're right THIS time about being done by the end of the week...!!
And thanks to ALL those who said it WAS done...
You were ALL completely WRONG AGAIN...!!
I have previously stated that I would not provide an “update” until we had confirmation of economic receipt or, I became convinced that payment to CMKX shareholders would not be forthcoming in a timely manner. This “Interim Update” is the exception that proves the rule, so to speak. However, it has been a relatively long period [certainly more than I originally anticipated] since I communicated with the shareholders at large, and there is material information to impart.
Before providing some information about what has been transpiring and our current status, let me address a few other matters:
• I am an attorney and have been retained by seven brave and exceptional shareholders that represent a cross section of the proposed class.
• The Bivens action which I have filed not only sets forth the facts as I know them, it seeks to become a class-action on behalf of all shareholders.
• At this instant in time however, I literally represent only the seven named plaintiffs; as a result, I am constrained in the types and extent of information which I can provide to putative members of the class.
• In the unlikely event that this litigation continues forward, a motion will be filed with the Court requesting that a class be certified. If granted, at that point I will, presumably, be appointed by the Court to continue acting as counsel for the class; thereafter, the Court will be required to approve any and all settlements, and others matters.
• The status of the litigation can at all times be monitored on PACER; as a result, we do not respond to inquiries at my office; accordingly, please do not contact us directly for such information.
• For everyone’s information, all defendant’s have been served, and an initial scheduling conference, originally set by the Court to be held on April 26, 2010 has been continued by mutual agreement of the parties [with consent of the Court] to July 26, 2010.
• The litigation will be aggressively pursued until such time as all CMKX shareholders have been paid.
In a similar vein, please understand that we are not involved in any ongoing negotiations with the SEC and/or their representatives with a view to compromising and/or otherwise attempting to resolve claims of the shareholders. We have set forth in the complaint what the shareholders are entitled to receive; compromise is not anything that the shareholders want, desire, or would tolerate or accept.
The belief of some that yelling and screaming, loudly and publicly enough, can somehow “force” release of the CMKX moneys, is erroneous and misplaced; it will not. Having said that, I do believe that media exposure is beneficial in the sense that it keeps the pressure on the entire financial community.
Inquiring minds want to know: what is our status; what has been going on; what is holding up economic receipt; when will our money be released; and how much money is there? Let me address each of these questions, to the extent I am able, separately:
1. How Much Money – As I have said before, we have persuasive evidence to all of the facts alleged as such in the complaint; accordingly, there is a total of 3.87 Trillon Dollars.
2. When is Release – The CMKX distribution funds will be released within a very short time after there is confirmation of Economic Receipt. What does that mean? It means that currently in process is a massive shift of wealth within the US and the world community; that includes: pay out of all the domestic settlements; institution of the US dollar re-funding project; pay out of world settlements; and, distribution of funds to many other programs. This involves a total of more than $ 42 Trillion. Economic Receipt occurs when all trustees have access to all of the funds they are responsible for.
3. Our Status – We are literally on the thresh-hold. This means that the “work” remaining to be finished will not consume more hours than can be accomplished within one day. We have been at this point now for more than a few weeks.
4. The Delay – Although I could write a book about what’s been going on behind the scenes to cause this additional delay, I’ll try to give you the condensed version:
First - Please be aware and understand that there is an economic war raging in the background.
Second - The naked corruption that is endemic in D.C. is more than most can comprehend; it is clear that these miscreants have no regard for the US Constitution, Federal Laws and Regulations, nor even any sense of simple morality. They are convinced that they are above any constraint that might apply to lesser mortals and that no enforcement activity will ever successfully address them. I hasten to add that such opinions are not universal; having said that, it is more widespread than not.
Third - These miscreants are, in effect, fighting for their lives – at least that part of their lives that establishes an environment in which they can continue to lie, cheat, steal, and mortgage your progeny’s lives, all for their personal gain. Accordingly, they will fight until the doors are all closed by a power that they cannot subvert. That fight continues as I prepare this interim update.
Fourth - The good news is, we are winning the battle. The circle within which these bad apples can operate draws inexorably smaller with each attempt to bribe, suborn and otherwise corrupt the system, and the people within it. By way of example, I was advised that over the weekend one State Department person, 10 bankers and 18 Federal Reserve people were arrested and dealt with.
Fifth – By what date will we have Economic Receipt, you ask. We will have it when this initial battle phase comes to a successful conclusion. That will be in the very near future in my opinion; the current schedule based on advice I received this afternoon is that it should all be finished, with funds in the Trustee’s hands, by week’s end.
I want to extend our heartfelt thanks to those of you who continue to demonstrate support and encouragement for our efforts. We remain very optimistic for the long term. Rest assured that the fight will continue, and we will prevail.
Al Hodges
Editor's Note - Thanks Mr. Hodges for all the information in your update...
Even though it wasn't the 'done or far from being done' update you promised us...!!
I hope you're right THIS time about being done by the end of the week...!!
And thanks to ALL those who said it WAS done...
You were ALL completely WRONG AGAIN...!!
Monday, March 15, 2010
******ATTENTION CMKX Shareholders****** **********Lawsuit Media BLITZ**********
CMKX Shareholders Coalition: Multi-Trillion Dollar Class Action Suit Filed Against SEC
Yahoo Finance
Marketwire
Earthtimes
Euroinvestor
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)
Yahoo Finance
Marketwire
Earthtimes
Euroinvestor
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)
Thursday, March 11, 2010
******ATTENTION CMKX Shareholders****** *****"Dealing With Fraud by Denying It"*****
.
The New York Times...!!
BUSINESS Section - HIGH & LOW FINANCE
Dealing With Fraud by Denying It
By Floyd Norris
Published: March 11, 2010
Years after Charles Ponzi was imprisoned for a fraud that cost victims millions of dollars in 1920, the state of Massachusetts determined it had recovered all the assets it could, and began to distribute them to victims, who stood to receive less than 30 cents for each dollar they invested.
To get the money, the victims had to turn over the notes they had received from Ponzi. But many of them refused to do so when the cash was offered in 1931.
Those who refused, wrote Donald Dunn in his book, “Ponzi, The Incredible True Story of the King of Financial Cons,” were “holding onto the belief that Ponzi somehow would yet make good on his promise of 50 percent interest.”
He did not.
That was probably not the first, and certainly not the last, example of what might be called “buyer’s denial.” It is the belief that somehow a fraud was not what it seemed to be, and that there was still a way to avoid losing the money the victim had foolishly invested.
“One has to ignore a lot of data to come to that conclusion. But that may be better than having to admit to yourself that it is over and you’re never going to get your money back,” said Dean G. Kilpatrick, the director of the National Crime Victims Research and Treatment Center and a professor at the Medical University of South Carolina. “It stands to reason that some would prefer to believe something else.”
To conclude that, it may be necessary to believe that there is some large conspiracy involving the government. Otherwise, why would prosecutors have wrongly claimed there was a huge fraud?
Perhaps the largest case of “buyer’s denial,” at least in terms of alleged damages, is in the fraud involving a tiny company known as CMKM Diamonds, which purported to have valuable diamond mining claims. In reality, what it had was a publicity machine, including the sponsorship of a car at “funny car” races around the country.
Several shareholders in CMKM — some of whom kept buying shares after the government exposed the fraud — want 10 current and former commissioners of the Securities and Exchange Commission to pay them $3.87 trillion, an amount equal to about half the United States government debt in public hands. You might think that would be enough, but the suit claims those are merely compensatory damages. They also want punitive damages, but do not cite a figure.
That is an impressive amount for a company whose last published balance sheet showed total assets of $344. That is dollars, not millions.
The tale the shareholders tell, in a lawsuit filed in January in federal district court in Santa Ana, Calif., is of a conspiracy involving not just the S.E.C., but also the Justice Department and the Department of Homeland Security.
Before getting into their view of reality, we’ll look at the record as developed in court cases filed by the S.E.C. and the Justice Department.
By their account, CMKM Diamonds illegally issued hundreds of billions of shares of stock, which insiders proceeded to sell into the market while the company issued a series of false news releases and failed to file required financial statements with the S.E.C.
With volume in the stock reaching billions of shares a day, the company needed an explanation for where all those shares came from. Disclosure that the company was simply printing them might have alarmed even the least astute investor.
CMKM came up with an explanation that would also be used later by another “pump and dump” fraud named Universal Express. It blamed “naked” short-selling by criminals who had sold shares they had not borrowed beforehand.
Eventually, the S.E.C. ordered a temporary halt to the trading, citing the lack of public information on the company. The insiders kept selling shares, earning a total profit of at least $64 million, according to the government.
The case stands as a tribute to the ineffectiveness of civil remedies against determined crooks. The S.E.C. sued the insiders in federal court in Nevada. Most of them did not bother to reply. The S.E.C. got an order requiring John Edwards, a British citizen said to be the mastermind of the fraud, to pay $55 million in restitution, damages and interest. He left the country.
Urban Casavant, the company’s chief executive and the man who ran the publicity machine, was ordered to pay almost $69 million, but did not. He moved to Canada.
Both of those men, along with four other people said to have been involved in the fraud, were indicted by a federal grand jury in Nevada. Mr. Edwards is fighting extradition from Britain. Mr. Casavant is a fugitive.
The other view of CMKM is advanced by A. Clifton Hodges, a lawyer in Pasadena, Calif. In his class-action suit representing shareholders, and in an interview, he maintained that the government had set up a sting to catch the criminals who were doing the naked shorting.
The government had, the suit says, “evidence that short-sellers were utilizing their activities to illegally launder moneys, wrongfully export moneys, avoid payment of taxes and to support foreign terrorist operations.”
The government supposedly set up a sting using the services of Robert Maheu, a former F.B.I. agent and associate of Howard Hughes, who briefly served as a director of CMKM and complained that he was not paid. Mr. Maheu has since died.
The government now should distribute to shareholders the money it made on the scheme, the suit maintains. It does not explain how it arrived at a number in the trillions.
Mr. Hodges told me he had evidence to back up his case, but would not reveal it now.
He said the suit is allowed under a 1971 Supreme Court decision that allowed victims of ostensibly improper searches by federal narcotics agents to sue the agents as individuals, even though they could not sue the government. He thinks that justifies suing everyone who was an S.E.C. member from 2004 to the present.
Mr. Hodges told me that he could produce testimony from an unnamed witness who had heard Christopher Cox, then the S.E.C. chairman, direct that no enforcement action be taken against CMKM. Mr. Cox declined to comment, citing the pending litigation, but it is worth noting that the S.E.C. did file enforcement actions against the company while Mr. Cox was at the helm.
Mr. Hodges told me he has the phone number of Mr. Casavant, the fugitive former chief executive, in the Canadian province of Saskatchewan, and had spoken to him. He would not provide the number.
While pursuing his own theory of what happened at CMKM, Mr. Hodges does not seem to have done an especially thorough job of keeping up with the official version. The federal indictment of Mr. Casavant was unsealed in September, six months ago. But when I spoke to him this week, Mr. Hodges told me that Mr. Casavant had not been indicted.
Because I had written about CMKM several years ago, several shareholders brought this suit to my attention. When I told one I believed that the suit was unlikely to succeed, another called to ask me if the government was paying me off to suppress the news.
If the suit is dismissed, those shareholders are not likely to conclude that the claim is nonsense. Instead, they probably will see the dismissal as proof of an even larger conspiracy. Buyer’s denial can be a powerful thing.
The New York Times...!!
BUSINESS Section - HIGH & LOW FINANCE
Dealing With Fraud by Denying It
By Floyd Norris
Published: March 11, 2010
Years after Charles Ponzi was imprisoned for a fraud that cost victims millions of dollars in 1920, the state of Massachusetts determined it had recovered all the assets it could, and began to distribute them to victims, who stood to receive less than 30 cents for each dollar they invested.
To get the money, the victims had to turn over the notes they had received from Ponzi. But many of them refused to do so when the cash was offered in 1931.
Those who refused, wrote Donald Dunn in his book, “Ponzi, The Incredible True Story of the King of Financial Cons,” were “holding onto the belief that Ponzi somehow would yet make good on his promise of 50 percent interest.”
He did not.
That was probably not the first, and certainly not the last, example of what might be called “buyer’s denial.” It is the belief that somehow a fraud was not what it seemed to be, and that there was still a way to avoid losing the money the victim had foolishly invested.
“One has to ignore a lot of data to come to that conclusion. But that may be better than having to admit to yourself that it is over and you’re never going to get your money back,” said Dean G. Kilpatrick, the director of the National Crime Victims Research and Treatment Center and a professor at the Medical University of South Carolina. “It stands to reason that some would prefer to believe something else.”
To conclude that, it may be necessary to believe that there is some large conspiracy involving the government. Otherwise, why would prosecutors have wrongly claimed there was a huge fraud?
Perhaps the largest case of “buyer’s denial,” at least in terms of alleged damages, is in the fraud involving a tiny company known as CMKM Diamonds, which purported to have valuable diamond mining claims. In reality, what it had was a publicity machine, including the sponsorship of a car at “funny car” races around the country.
Several shareholders in CMKM — some of whom kept buying shares after the government exposed the fraud — want 10 current and former commissioners of the Securities and Exchange Commission to pay them $3.87 trillion, an amount equal to about half the United States government debt in public hands. You might think that would be enough, but the suit claims those are merely compensatory damages. They also want punitive damages, but do not cite a figure.
That is an impressive amount for a company whose last published balance sheet showed total assets of $344. That is dollars, not millions.
The tale the shareholders tell, in a lawsuit filed in January in federal district court in Santa Ana, Calif., is of a conspiracy involving not just the S.E.C., but also the Justice Department and the Department of Homeland Security.
Before getting into their view of reality, we’ll look at the record as developed in court cases filed by the S.E.C. and the Justice Department.
By their account, CMKM Diamonds illegally issued hundreds of billions of shares of stock, which insiders proceeded to sell into the market while the company issued a series of false news releases and failed to file required financial statements with the S.E.C.
With volume in the stock reaching billions of shares a day, the company needed an explanation for where all those shares came from. Disclosure that the company was simply printing them might have alarmed even the least astute investor.
CMKM came up with an explanation that would also be used later by another “pump and dump” fraud named Universal Express. It blamed “naked” short-selling by criminals who had sold shares they had not borrowed beforehand.
Eventually, the S.E.C. ordered a temporary halt to the trading, citing the lack of public information on the company. The insiders kept selling shares, earning a total profit of at least $64 million, according to the government.
The case stands as a tribute to the ineffectiveness of civil remedies against determined crooks. The S.E.C. sued the insiders in federal court in Nevada. Most of them did not bother to reply. The S.E.C. got an order requiring John Edwards, a British citizen said to be the mastermind of the fraud, to pay $55 million in restitution, damages and interest. He left the country.
Urban Casavant, the company’s chief executive and the man who ran the publicity machine, was ordered to pay almost $69 million, but did not. He moved to Canada.
Both of those men, along with four other people said to have been involved in the fraud, were indicted by a federal grand jury in Nevada. Mr. Edwards is fighting extradition from Britain. Mr. Casavant is a fugitive.
The other view of CMKM is advanced by A. Clifton Hodges, a lawyer in Pasadena, Calif. In his class-action suit representing shareholders, and in an interview, he maintained that the government had set up a sting to catch the criminals who were doing the naked shorting.
The government had, the suit says, “evidence that short-sellers were utilizing their activities to illegally launder moneys, wrongfully export moneys, avoid payment of taxes and to support foreign terrorist operations.”
The government supposedly set up a sting using the services of Robert Maheu, a former F.B.I. agent and associate of Howard Hughes, who briefly served as a director of CMKM and complained that he was not paid. Mr. Maheu has since died.
The government now should distribute to shareholders the money it made on the scheme, the suit maintains. It does not explain how it arrived at a number in the trillions.
Mr. Hodges told me he had evidence to back up his case, but would not reveal it now.
He said the suit is allowed under a 1971 Supreme Court decision that allowed victims of ostensibly improper searches by federal narcotics agents to sue the agents as individuals, even though they could not sue the government. He thinks that justifies suing everyone who was an S.E.C. member from 2004 to the present.
Mr. Hodges told me that he could produce testimony from an unnamed witness who had heard Christopher Cox, then the S.E.C. chairman, direct that no enforcement action be taken against CMKM. Mr. Cox declined to comment, citing the pending litigation, but it is worth noting that the S.E.C. did file enforcement actions against the company while Mr. Cox was at the helm.
Mr. Hodges told me he has the phone number of Mr. Casavant, the fugitive former chief executive, in the Canadian province of Saskatchewan, and had spoken to him. He would not provide the number.
While pursuing his own theory of what happened at CMKM, Mr. Hodges does not seem to have done an especially thorough job of keeping up with the official version. The federal indictment of Mr. Casavant was unsealed in September, six months ago. But when I spoke to him this week, Mr. Hodges told me that Mr. Casavant had not been indicted.
Because I had written about CMKM several years ago, several shareholders brought this suit to my attention. When I told one I believed that the suit was unlikely to succeed, another called to ask me if the government was paying me off to suppress the news.
If the suit is dismissed, those shareholders are not likely to conclude that the claim is nonsense. Instead, they probably will see the dismissal as proof of an even larger conspiracy. Buyer’s denial can be a powerful thing.
Subscribe to:
Posts (Atom)
