Monday, January 20, 2014

Australia:U.S.Attorney General Eric Holder Offers Apology To Wolf of Wall Street And Beltway Jordan Belfort,Air Force Major General Edward Ratkovich

 Australia:U.S.Attorney General Eric Holder Offers Apology To Wolf of Wall Street And Beltway  Jordan Belfort,Air Force Major General Edward Ratkovich


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    16/6/2001 - 10 publicaciones - ‎5 autores
    But the failures of Socrates Technologies Corp. and ZeroPlus.com Inc. ought ...Edward Ratkovich, have been bailing out of Socrates for years.

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    Cause No. DANIEL PORUSH; ) IP-98-0855-C-D/F JORDAN BELFORT; ) EDWARD RATKOVICH; ) SOCRATES TECHNOLOGIES ) CORPORATION f/k/a MVSI, ...
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The real story behind Wolf Of Wall Street was completely missed.Major General Edward Ratkovich and their fraudulant Socrates pump and dump stock fraud appears more likely to be a Washington,D.C. 'intelligence'  money laundering and theft operation and in many ways violating the U.S.Constitution's 'taxation without representation' clause among others.This fraud could be considred a form of undeclared 'tax' on Americans and or others who could be defrauded with little to no recourse or legal representation to fight such corporate frauds perpetrated by U.S.government agents.
I can't say for sure that Socrates Technologies stock fraud of Wollf Of Wall Street Jordan Belfort and deceased Major General  l Edward Ratkovich is directly connected to the CIA and Reagen-Bush Project Socrates but Major General l Edward Ratkovich did have an intelligence bureaucracy connection as well as his Air Fofce bureaucracy duties


 Major General Edward Ratkovich is director of intelligence (J-2), Headquarters U.S. European Command at Stuttgart, Germany. General Ratkovich was born in ... - www.af.mil

<type>ex-99.1 <sequence>3 - Securities and Exchange Commission
www.sec.gov/Archives/edgar/data/.../0001019687-00-001563-0003.txt
Cause No. DANIEL PORUSH; ) IP-98-0855-C-D/F JORDAN BELFORT; ) EDWARD RATKOVICH; ) SOCRATES TECHNOLOGIES ) CORPORATION f/k/a MVSI, ...


MVSI - AN UNDISCOVERED GEM | Stock Discussion Forums
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Jun 2, 1998 - World Bank Awards MVSI Subsidiary Software Project ... Chairman Edward Ratkovich stated: ''This award from the World Bank is the result ... MVSI's subsidiary Socrates Technologies, Inc. (Socrates) recently appointed David ...


Central Intelligence Agency - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Central_Intelligence_Agency
The Central Intelligence Agency (CIA) is one of the principal ...... Project Socrates was designed to utilize open source intelligence gathering almost exclusively.
Defense Intelligence Agency - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Defense_Intelligence_Agency
The DIA differs from the Central Intelligence Agency (CIA) in that the latter is focused ..... the Reagan Administration created Project Socrates within the Agency.

http://www.news.com.au/finance/money/us-attorneys-office-apologises-to-wolf-of-wall-street-jordan-belfort-over-article-suggesting-he-is-hiding-in-australia/story-e6frfmci-1226801457393

US attorney's office apologises to 'Wolf of Wall Street' Jordan Belfort over article suggesting he is hiding in Australia

The Wolf of Wall Street trailer


Based on a true story, The Wolf of Wall Street is directed by Academy Award winner Martin Scorsese and stars Leonardo DiCaprio and Australia's Margot Robbie.
Autoplay
THE US attorney's office has issued a statement saying The Wall Street Journal made a mistake when quoting a spokesman as saying the real 'Wolf of Wall Street' had moved to Australia.
Spokesman Robert Nardoza told news.com.au "The Wall Street Journal erroneously reported that I said Belfort was in Australia. I have asked WSJ to make a correction."
It comes following an article on the Wall Street institution which said US authorities suspected Mr Belfort of living in Australia in order to protect his assets from having to make restitution payments to investors.
Mr Belfort, the convicted fraudster that inspired the 'Wolf of Wall Street' blockbuster, took to Facebook to slam the article as "utterly insane and libelous (sic)"
"Fortunately, the US Attorney's Office, through my attorney, has issued me a personal apology and The Wall Street Journal will run a correction. I respect them for promptly admitting their mistake," he posted online.
The real life wolf, Jordan Belfort. Picture: Chris Pavlich
The real life wolf, Jordan Belfort. Picture: Chris Pavlich Source: News Limited
Mr Belfort was indicted in 1998 for securities fraud and money laundering. He pleaded guilty, received three years in prison and was ordered to pay $110 million to his victims.
The Scorsese epic based on his life pulled in $66.3 million at the box office in its first two weeks, while Leonardo DiCaprio won the best actor Golden Globe for a musical/comedy film for his role in the film.



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Edward Ratkovich




Dancing on the Graves of Dead Dot-Coms

washingtonpost.com 

By Jerry Knight
Monday, June 18, 2001; Page E01


Ordinarily when a company goes under, it's an occasion for grieving.

The painful passing of PSINet Inc., the bankruptcy of Teligent Inc., the liquidation of Musicmaker.com Inc. and the untimely, unfortunate farewells of so many telecoms are marked by mourning for the loss of investors' money and entrepreneurs' dreams.

But the failures of Socrates Technologies Corp. and ZeroPlus.com Inc. ought to have Washington Investors dancing on the graves.

Ding dong, the dogs are dead.

But not before they took a bite out of lots of investors who were foolish enough to buy stock in these corporate cousins. Socrates and ZeroPlus were taken public by the sleaziest penny stock promoter of the last decade, Stratton Oakmont Inc., a Long Island outfit long since shut down by regulators.

We come to bury these stocks, not to praise them, in the hope that their obituaries will become object lessons for Washington investors. Both have been previous subjects of this column. There has never been anything good to say about them before. There's no reason to change that now. Hopefully this will be the final chapter in stories that should have ended a long time ago.

The Nasdaq Stock Market last Monday ordered an indefinite suspension of trading in the stock of ZeroPlus, which is shutting down its Germantown-based Internet telephone business.

Socrates, an erstwhile computer consulting business that now lists its address as a town house in Prince William County, has sold its only operating ventures, but the stock is still trading, quoted at 3 cents a share.

And there probably is somebody out there who could be talked into buying it.

Talking people into buying stocks is what Stratton Oakmont did before the firm was put out of business by a joint task force of state stock regulators, the Securities and Exchange Commission and Nasdaq regulators.

By the time Stratton folded in 1997, many of the companies it took public and promoted had gone under. But the local pair -- Socrates and ZeroPlus -- lived on. Their businesses changed, their names changed, and new suckers kept buying their stocks.

No ZeroPlus or Socrates executives have ever been accused by regulators of violating securities laws. Nor, so much as can be determined from public records, have the companies ever been the targets of stock regulators.

Civil lawsuits are another matter. Socrates is facing a $3.5 million securities fraud case filed in March by several investors. They accuse Socrates executives of fraudulently pumping up the value of a New York computer services business the company acquired, from $660,000 to $3.5 million. Whatever it was worth at the time, the New York company failed and was written off by Socrates as a total loss. Socrates executives haven't yet answered the lawsuit.

Socrates's legal problems prompted the resignations of two outsiders who joined the company's board late last year to try to save the firm.

In their resignation letters, Clark Easter and Michael Shoemaker said that in three months on the board they were never able to get financial records and were repeatedly blindsided by new trouble.

"Every day I found out something more and more horrible," said Easter, who heads 4GL Software Solutions Inc., a Monkton, Md., firm that provides specialized computer software to school systems, including those in the District, Baltimore and Detroit.

"The final straw for me was when they gave out a list of all the legal actions that were going on against them," Easter said in a telephone interview.

Directors and officers, including retired Gen. Edward Ratkovich, have been bailing out of Socrates for years. Ratkovich originally was a major shareholder of Socrates and ZeroPlus and once tried to merge the two firms. Socrates made a $5.3 million investment in ZeroPlus and sold its stock at a $4 million loss.

None of the original executives of Socrates is still with the company, but since its founding Zero
Plus had been run by Robert Veschi, who founded the firm and took it public as E-Net Inc.

On June 5, Veschi announced the company was shutting down and laying off most of its employees. Veschi would stay on, he promised, in an "attempt to salvage the value of the company's assets."

To say nothing of saving Veschi's own assets. SEC filings list him as the largest stockholder, with a 14 percent stake in the company as of last November. Though the company has never made any money, Veschi certainly has.

In the year ended March 2000, according to the company's proxy statement, he collected a $175,000 salary plus a $175,000 bonus. Half that bonus was guaranteed by Veschi's contract, the other half awarded as a "performance" bonus by the company's board of directors.

It was some performance. ZeroPlus lost $10.1 million in fiscal 2000 and generated revenue of about $500,000.

In addition to paying Veschi's salary and bonus (and of course giving him stock options), ZeroPlus rented a plane for Veschi to fly on company business. It was Veschi's own plane, for which he collected another $187,500.

When the chief executive collected more than the company generated in revenue, is it any wonder ZeroPlus went under? The only surprise is it lasted so long.

Long enough that Washington investors lost a lot of money on the stock. Over the past five years the shares rose and fell in alternating waves of investor hysteria and terror. In the summer of 1998, the share price rose to $19 and then crashed. After several more sawtooth moves, the shares rode the wave of webmania back to $17 in March 2000 before beginning the long and fatal descent.

ZeroPlus and Socrates both had big followings on the Internet investor bulletin boards -- Socrates on RagingBull.com and ZeroPlus on Yahoo.com. Those aptly named Web sites still carry vast amounts of raging bull about Socrates and ZeroPlus, much of it written by yahoos hiding behind pseudonyms and screen names.

When the stocks were actively trading, the discussions on RagingBull and Yahoo came with a warning: Read at your own risk. They served up a hash of fact and fantasy, much of it obviously intended to manipulate the stock prices. Now it's mostly postmortems that are posted, including more than a few laments of "I can't believe I actually bought this stock!"

Some people are still buying Socrates stock. On Wednesday, for example, somebody sold 200 shares for a grand total of $6. The day before, 3,000 shares changed hands -- that's $90 worth.

Based on its 3-cents-a-share stock price, Socrates has a market value of about $700,000. The company is just a shell, "living" -- if that's the right word -- in the Centreville town house of Andreas Keller, now its chief executive.

Keller, previously the company treasurer, seems to be the person stuck holding the bag for Socrates. He's the last man standing after other executives left under various clouds.

Last November, for example, Timothy Keenan resigned as chief executive after he was indicted on federal charges that he embezzled $321,000 from his previous employer.

Socrates was originally called MVSI Inc., and it made robotic vision systems used in automated welding equipment. Over the years, it dabbled in various computer and software businesses, acquiring two computer services and software businesses that still exist, Networkland Inc. and Technet Computer Services Inc. Those operations were sold in March to another penny stock company, CBQ Inc., which has offices in Hunt Valley, north of Baltimore.

CBQ describes itself as an "e-business infrastructure company" that owns businesses in various places, including China.

The company's latest balance sheet filed with the SEC shows assets of $4.8 million and liabilities of $6.6 million. The financial statement includes what accountants call a "going concern warning" that says CBQ may not be able to stay in business unless it can raise more money.

How can a debt-burdened firm, in danger of going under, make an acquisition?

With IOUs and stock.

As payment for Networkland and Technet, CBQ gave Socrates a $700,000 note and 7.65 million shares of CBQ stock, which traded for between 16 cents and 25 cents in March. CBQ stock was quoted at 31 cents on Friday.

Only 17 months ago, in January 2000, CBQ stock hit a high of $16.50 a share after the company announced plans to acquire a New Jersey company called 1stinhealth.com Inc. When that deal collapsed, the stock started sliding.

In a letter to shareholders earlier this year, CBQ Chairman Bart Fisher offered this explanation of what happened to the stock:

"While it might be tempting to blame other factors for CBQ's low share price such as a generally bad Nasdaq, a depressed (over-the-counter) market, Alan Greenspan's Federal Reserve policies, or the stock structure of CBQ, it is clear that one constant negative cloud purposely cast over the stock has been a cybersmear campaign aimed at market price manipulation."

Blaming unnamed people for making an unspecified "cybersmear" in unidentified parts of cyberspace is certainly more reassuring to stockholders than passing the buck to the chairman of the Federal Reserve Board, but it didn't help the stock price, which has been at less that 50 cents a share all year.

Nor did the stock budge after a May letter to shareholders in which Fisher maintained that taking over Networkland and Technet would help turn CBQ into a rapidly growing and profitable business.

Fisher, a Washington lawyer, did not return phone calls last week to his offices in Hunt Valley and Northern Virginia.

So where does this leave shareholders of Socrates and ZeroPlus?

Socrates is still facing a raft of lawsuits, with potential liabilities running into the millions. Its principal assets appear to be the note from CBQ and the CBQ stock. What that stock is worth is anybody's guess, given that CBQ has more debts than assets. It's only a matter of time before Socrates stock stops trading.

ZeroPlus has enough cash to pay its bills, sources familiar with its finances say. Laid-off employees got their paychecks and modest severance. It has some Internet phone technology that could have value. It has a relationship with Uniden Corp., the Japanese telephone maker, which uses ZeroPlus technology in some phones. There may be some residual value in the business.

The bottom line is, it's over for ZeroPlus and Socrates.

That's good news for Washington investors. These are companies that never should have gone public, stocks that never should have been sold, investments that never should have been made. Their demise should be celebrated, not mourned.

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