SEC says Charles Schwab connected LOM Boss Lying

As the KYC abstract from offshorebusiness.com reveals below,LOM still struggles to avoid disclosing its penny stock operations from its Charles Schwab and other onshore accounts.

So why does Charles Schwab not do the ethical thing for its own clients such as myself who were ripped off in the same or similar scam operated from illegal Charles Schwab pump and dump accounts ? Surley Charles Schwab must know what it has aided and abetted by now don't they ? Why don't they have the SEC explain it to them and have Schwab issue an apology at least to those including American retail account holders who they helped LOM,et.al. to ripoff and possibly launder money using unaudite U.S. shares with ?

This is certainly post 911 hypocrisy when Charles Schwab's own 'anti-money laundering experts' at Mantas Inc in the Beltway who may be NSA or CIA connected,failed to detect millions upon millions of shares dumped from a Charles Schwab account or accounts and investor share value collapses to nothing as shares are dumped and possibly money laundered through LOM and Charles Schwab.And for whom ? Who are Charles Schwab's 'select clients ''
(see Charles Schwab and Share Money Laundering link at bottom)

And aiding in a 'pump and dump' fraud of the Texas
biotech scam company Endovasc,(incorporated in Nevada where penny stock fraud is king), that enriched academic researchers Heeschen and Cooke and Charles Schwab's Alma Mater ,Stanford University ,(who used a free nicotine research grant to patent nicotine for 'angiogenesis' and then promote the patent for fraud and possibly money laundering even in terrorist money laudering suspect areas such as Kuala Lumpur or Dubai) is only one symptom of the disease greed.That they(Charles Schwab and Stanford University) both allowed unidentified and possibly criminals to use them in illegal pump and dump of penny stock shares for their mutual profit is beyond greed and truly criminal.

Tony Ryals


KYC News Wire :

SEC ACCUSES LOM BOSS OF LYING
January 25, 2006 Prominent offshore businessman Donald Lines has been branded a liar by the United States Securities and Exchange Commission.


From theroyalgazette.com November 2004:

Clients stood to benefit from suspect stock sales – claim


LOM Logo Scott Lines, Donald Lines and Brian Lines

Clients of investment firm Lines Overseas Management stood to profit from the alleged manipulation of a penny stock now under investigation by the US Securities and Exchange Commission, according to a court filing.
The SEC filing, first reported on yesterday by Miami-based newsletter Inside Bermuda, said the clients bought a total of 100,000 shares in Sedona Software Solutions from ICH Investments, a firm the SEC alleges is controlled by LOM principals Scott and Brian Lines.........


LOM and Mr. Lines contend that the United States does not have jurisdiction over them and that they are prohibited from disclosing some of the information being sought due to secrecy provisions of laws in Bermuda, the Bahamas and the Cayman Islands, where LOM has offices.
As part of an attempt to establish that LOM has sufficient ties to the United States to meet jurisdictional requirements, Ungar claimed that LOM executed substantial volumes of trades with the US operations of vFinance Investments Inc., Schwab Capital Markets LLC, and Sterne, Agee Capital Markets and also did business with CIBC Mellon Securities Trust Company, in New York.
"The volume of LOM's US trading, whether on behalf of its customers or its own accounts, is staggering," stated Mr. Ungar. "For example, in LOM's account at Schwab, during a two-week period in 2003 – the same year in which the SHEP and Sedona transactions in question occurred – LOM bought or sold, on over 4,000 different occasions, a total of 151 million shares of US securities traded over various US securities markets."
The trader at Florida-based vFinance who was in charge of LOM's account testified that "LOM's trading over the US markets was more than the trading of most US regional banks" and that he "either accumulated or liquidated millions of shares a day for them", stated Mr. Ungar.......



Related articles:
» LOM appeals order to comply with subpoenas 01/18/2006
» LOM files motion to strike SEC report 01/17/2006
» US court refuses LOM request for extension 01/17/2006
» Chief executive tells his side of Sedona and SHEP stories 01/12/2006
» Ex-LOM president fights disclosure 01/12/2006
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