Thanks to Gary Weiss' blog for bringing this one to my attention.Beverlee Kamerling, 63, and her son, Nicholas Alexander, 22, have been indicted on 21 counts related to a large securities fraud scheme.
The pair, along with six others, allegedly took control of 6 companies (including America Asia Energy, Coattec Industries Inc., Detex Security Systems Inc. and Global Gaming Network Inc.), issued false and misleading press releases about the companies and engaged in fax blasts to promote the shares.
Of course, while all this happened they were also, allegedly, selling unregistered securities.
Real creative, mama and baby. That's only been done about 11 million times.
I've always wondered why more women don't seem to get involved in securities fraud -- it's possible that it's just a reflection of the fact that Wall Street is still mainly male-dominated. Or perhaps, women are just more honest.
In any case, we can chalk this one up as a victory for equal opportunity securities fraud. And it is heartwarming to see mother and child bonding over the bilking of penny-stock players.











Reader Comments (Page 1 of 1)
12-07-2007 @ 6:37PM
Doug said...
Well, perhaps they'll share a cell together, where upon junior can suckle on mamas' bossom once more.
12-07-2007 @ 10:46PM
Tony Ryals said...
What Gary Weiss failed to mention in his blog was that this U.S. penny stock fraud has an Israeli connection.And no I'm not 'anti-semitic' and this detail is very important.I who was ripped off in a
penny stock scam with Israeli connections(the Grin brothers and thus probably Union Bank of
Israel connections),also had a James Dale Davidson connection.Davidson is founder of the National Taxpayers Union that Steve Forbes has wrapped himself in like he does the U.S. flag.
Davidson is now involved in an Israeli scam(incorporated in the USA of course)along with ex Carlyle executive and CIA official Frank Carlucci.
James Dale Davidson is also a founder of NAANSS or National Association Against Naked Shorting Selling that has been replaced by Patrick Byrne's NCANS or National Coalition Against Naked Short Selling.I find it very strange that Weiss,a Forbes employee,refuses to even mention James Dale Davidson's connection as a founding father of the very naked short selling claim scam he rails about re NCANS.
You may investigate for yourself Mr.Weiss' refusal to ever criticise or name James Davidson's role in this ongoing scam that is not 'naked short selling' at all but illegal pump and dump activities and the insiders use the naked short claim to divert attention from thgeir own manipulation.Even SEC Chair Chris 'Naked Shorts' Cox helps them by saying in a Bloomberg video that 'naked shorting' is a serious threat.
Also note that for whatever reason Gary Weiss sensationalises the mother(Ma Barker !) involved in the Washington state scam but yet ignores to inform his blog readers of the Israeli connection. Because I have also bemoaned Dubai ansd Kuala Lumpur involvement in U.S. penny stock fraud and even the Al Jazeera in english promotion of the naked short lie(Max Keiser) also does not make me anti-Arab either - only anti-fraud as I was a victim of it and did not want my money sent to either Kuala Lumpur,Dubai or Israel.
For all I know I aided terrorism but if so it is also the fault of the U.S. SEC and no investigative journalists caring that also aids terrorism or fraud.
This in my opion is most important quote from the
article that is subject of your and his blog:
The companies involved are America Asia Energy, Coattec Industries Inc., Detex Security Systems Inc. and Global Gaming Network Inc. All are based in Washington except Detex, which is based in Tel Aviv, Israel.
DAN RICHMAN
P-I REPORTER
12-08-2007 @ 4:50AM
Jeff_Sullivan_Rules said...
Check out the 46 page indictment. There's a father-son team that hangs out in Florida, too. In addition, the guy they popped in Utah has been into micro-cap fraud for well over 35 years.
There's a war going on in Iraq. I think the 2 young fraudsters should be given an opportunity to choose between 4 years in the USMC and 8 years in Club Fed.
1-16-2008 @ 1:01AM
annonymous said...
Another family connection. The stock transfer agent and his sister ran that agency together as well.
1-02-2008 @ 10:15PM
annonymous said...
In the course of this investigation, Kamerling's stock transfer agent, Roger Greer of National Stock Transfer, was caught with kiddy porn and is going to federal prison for 33 months. When you turn over a rock, you can sure find a lot of creepy crawly slime.