The YBM Magnex Files Adrian du Plessis ... - Deep Capture

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mafia origins and links and its history of incomplete or false disclosure. In the end, if there is to be some real benefit from this mess -- we may all learn why none of the industry players, be they securities regulators or stock hustlers, informed the public of those damning details about YBM which were known to them long before the company's stock became the latest and greatest embarrassment to the once-prestigious TSE 300. On August 10 1995, Britain?s Home Secretary signed an order excluding Russian organized crime leader Semion Mogilevich from the United Kingdom. Despite the findings of U.K. police about Mogilevich and the Channel Islands-registered entity Arigon, identified as a principal conduit for Russian organized crime, Mogilevich and his associates saw their vehicle Arigon welcomed into Canada's public stock markets and nurtured. Arigon, essentially, went public on the Alberta exchange and then graduated to the TSE, despite the company's continuing pattern of misleading or false public disclosure. The company's publicly filed documents from 1994/95 report multimillion dollar Canadian sales that never existed. These same filings, among other omissions, failed to disclose the management role of YBM director Michael Schmidt with the scam company Technigen Corp. (one-time VSE-high flier). Subsequent filings by YBM falsely claimed that the company had generated $20 million in sales during 1996 from an oil desulphurisation process. The Financial Times of London journalist Ted Alden has revealed that OSC officials were told, before they approved YBM's 1997 prospectus, that the oil desulphurisation claims could not be substantiated. And so it goes... By late 1997, and much earlier in some instances, YBM players and securities officials, knew or ought to have known, that: the company's origins could be traced back to the Russian mafia, that principal businesses and associates were believed (by the world's top police intelligence corps) to be engaged in money laundering activities, and that YBM was making misleading and false public claims about its products and sales. At what point does someone within the securities industry structure blow the whistle and say, "This must stop!"? We all know the answer to that question. The game is over when more than five dozen U.S. government agents raid the company's headquarters, as happened in the case of YBM Magnex on May 13 1998. What Canadians knew and did between 1994/95 and 1998 should be told. If it is, YBM may provide a more valuable study of Canada's prevailing securities culture than any scandal since the mid-1960s Windfall Oil & Gas fallout. 02/11/99
YBM Magnex: linking Wayne Deans' ghost-writer, jumbo shrimp and a cure for cancer... On May 20 1998 - one week following the FBI et al raid of YBM?s Pennsylvania headquarters, and almost three years after alarming details of YBM?s affairs first became accessible on the public record -- Canada?s Navigator Fund Company issued a release to Financial Planners marketing the Navigator Value Investment Retirement Fund (one of YBM?s institutional investors). The letter, which stated it was from Wayne Deans, Portfolio Manager of the fund, assured readers that: ?YBM is a legitimate company that produces real products. This is not a Bre-X.? When Deans, a partner at Deans Knight Capital Management, was contacted by a reporter about this release hailing YBM?s legitimacy, he, at first, claimed that it was a phantom -- a product of imaginative minds in the business press. When it was confirmed that, indeed, copies of the letter circulated to the mutual fund sales force were in the hands of financial journalists, Deans' tack shifted. ?I would never say something that stupid,? the Vancouver-based money manager told Jon Ferry of B.C. Business magazine. An October 1998 B.C. Business feature captured Dean?s remarkable explanation: ?He says the letter was put out, without his knowledge, by the Navigator Fund Company, two of whose funds he manages. ?They sent it out under their letterhead, but signed it me, put ?Wayne Deans? at the bottom of it. I never saw it. I never edited it. They claimed that they checked with someone in our office about it. It definitely was not me? I think they took some liberties here and they admit that?.? When it becomes impossible to trust or rely upon words issued in a hard copy press release issued by a well-known mutual fund group in Canada, how, then, is an investor to navigate and find their bearings in the comparatively ephemeral environment of cyberspace? YBM provides an entry point to examine this question - following up on news reports earlier this month (December 1998) that an anonymous group of investors located somewhere unidentified, has proposed to buy YBM?s stock for $2 per share and relaunch the Russian mafia-associated magnet maker as a public venture. This bizarre bid is reportedly backed by Jonathan Curshen, a self-styled investment banker whose private Sarasota, Florida-registered vehicle, Southern Assurance Group, Inc., maintains a web-site presence (@ http://www.sagi.com ) that can also be accessed ( @ http://members.home.net/jcurshen/ ) A photograph of ?Master Jon?, as Curshen tags himself, is available on-line to members at the ?Award-Winning Kinky Contacts? site ( @ http://www.kinkycontacts.com/pictures/originals/MasterJon.jpg ) By compiling, and cross-referencing, Curshen?s various web-site, newsgroup and chat group postings from a list of inter-related email addresses, a web-profile emerges of a character that appears excited, equally, by, stock market and S&M activities.
Page 1 and 2: The YBM Magnex Files Adrian du Ples
Page 3: On this, my own, web-site I began p
Page 7 and 8: Curshen has posted about speculativ
Page 9 and 10: of the company so they can receive
Page 11 and 12: Despite having easily identified ro
Page 13 and 14: To: Regional Coordinator -- 10 Nove
Page 15 and 16: conspiracy to handle stolen goods.
Page 17 and 18: TORONTO, Dec. 8 /CNW/ - YBM Magnex
Page 19 and 20: present and former legal advisors a
Page 21 and 22: - immediately prior to recording th
Page 23 and 24: ``1. The issues raised by the OSC a
Page 25 and 26: eceiver and manager of the assets,
Page 27 and 28: 1998 raid on YBM's HQ by dozens of
Page 29 and 30: and 1998. Unanswered questions, how
Page 31 and 32: the purview of his staff: "If you h
Page 33 and 34: came to characterizing the company'
Page 35 and 36: now serving an eight-year term in a
Page 37 and 38: history of the principals and asset
Page 39 and 40: status of its operations and sales
Page 41 and 42: ordered from the Alberta Securities
Page 43 and 44: Despite his faith in the deal, and
Page 45 and 46: that the capacity for independent r
Page 47 and 48: The understanding of this new mediu
Page 49 and 50: magnitude as they are on bigger vol
Page 51 and 52: I was a long-time follower of the t
Page 53 and 54: company's North American sales that
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money managers were not highlightin
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perhaps, of the character of those
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lobby position. Indeed, the lure of
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executive director of the BC Securi
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there for US 28 million dollars per
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As ever, this tout came attached to
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(b) has developed more detailed end
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that your public company has availa
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YBM?s recent history, we can unders
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At precisely 10:30 a.m. Eastern Sta
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On May 13 1992 David Bogatin, a Rus
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profit of US $97; Russian children
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YBM?s Guy Scala told The New York T
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criminal.? An operational order con
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Moscow (and a possible contender fo
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professionals did know of Arigon?s
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he reportedly held shares (45%) alo
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several times already, is now sched
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embarrassingly, reveal the level of
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public misrepresentations and faile
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it is those very organizations upon
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Rare Earth Permanent Magnets in the
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From the mid-1980s to the early 199
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of the world identified by the comp
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from a reported U.S. $3 million dow
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