+ Reply to Thread
Results 1 to 4 of 4

  1. #1
    Join Date
    Oct 2012
    Posts
    6

    Sovereign International Group (SIG)

    This is the "group" that grew out of Omicron, Safevest, G-5 Global and others.

    I wanted to let you know that SIG was brought to you by Arthur (Art) Weiss and Ronald Abernathy.

    This venture only took $560,000 from investors. The SEC has been investigating for a few years.

    On November 5, 2012 there will be a hearing in Michigan.

    This was originally made public June 3 by the SEC and was followed up with articles.

    I hope some sort of justice takes place. It has been too long in the coming.

  2. #2
    Join Date
    Oct 2012
    Posts
    6

    Re: Sovereign International Group (SIG)

    It doesn't appear that Weiss or Abernathy appeared.... Here is what was written:

    UNITED STATES OF DISTRICT COURT
    FOR THE WESTERN DISTRICT OF MICHIGAN


    MINUTES


    Case Number 1:11-cv-00580
    Date 11/5/2012
    Time 11:30 a.m.-12:30 p.m.
    Place Grand Rapids
    Judge Ellen S. Carmody


    CASE CAPTION
    Plaintiff(s): Securities and Exchange Commission

    Defendant(s): Arthur Weiss et al


    APPEARANCES
    Attorney:
    Jason Andrew Schmidt
    John E. Birkenheier Representing:Plaintiff




    PROCEEDINGS
    NATURE OF HEARING: Evidentiary Hearing; Plaintiff’s witness Pesach Glaser testified;
    Exhibits 1-9 admitted; report and recommendation to issue.


    Proceedings Digitally Recorded
    Deputy Clerk: J. Lenon

  3. #3
    Join Date
    Oct 2012
    Posts
    6

    Re: Sovereign International Group (SIG)

    New news....

    On Nov 30 - the Michigan court posted that Weiss is to pay 250,000; Abernathy is to pay 250,000 and SIG is to pay 250,000. They were given 10 days to turn the money over to the court -- (no news if they have, but I tend to doubt it.)

    Court doc: 1-11-cv-00580-GJQ
    69-main and 69-1

    It was great reading it!

  4. #4
    Join Date
    Oct 2012
    Posts
    6

    Re: Sovereign International Group (SIG)

    The SEC vs SIG, Abernathy and Weiss came to an end earlier this year. I thought I’d post here so you know there is closure. Will the courts or the victims ever receive a cent – I doubt it…



    A final Judgment as to defendents Abernathy, Weiss and SIG was added on March 8, 2013 – which quickly says that it is hereby ordered, adjudged and decreed that the defendants are permanently restrained and enjoined frm violating Section 17a of the Securities Ace of 1933 – in the offer of sale of any security by the use of any means of transportation or communication in interstate commerce by use of mails, directly or indirectly
    a) to employ any device, scheme or artifice to defraud;
    b) to obtain money or property by means of any untrue statement of a material fact or any omission of material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or
    c)to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.


    And then it was further ordered – that Abernathy shall pay a civil penalty of $250,000. to SEC, and Weiss shall pay a civil penalty of $250,00 and that SIG shall pay a civil penalty of $250,000. (Which btw – Weiss closed up SIG two years ago in Nevada – disregarding how one can close up a corporation – he wrote there were no law suits pending – when SEC civil suit was.)
    Gordon J. Quist, US District Judge signed off on the paperwork – with It is further ordered, adjudged and decreed that this court shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment.


    So my question – this was a civil suit – is there any way to make a criminal case against Abernathy and Weiss?

Similar Threads

  1. Zimmermann International Group/SICFEX
    By Chrissys4 in forum Internet Scams
    Replies: 0
    Last Post: 12-15-2011, 02:26 PM
  2. Sovereign International
    By paulus.vorster in forum Mail Order Scams
    Replies: 6
    Last Post: 10-23-2011, 11:58 PM
  3. Quelex Group International - SCAM
    By gnuscript in forum Work at Home Scams
    Replies: 10
    Last Post: 04-03-2009, 03:41 PM
  4. Quelex Group International - SCAM
    By gnuscript in forum Work at Home Scams
    Replies: 0
    Last Post: 01-08-2009, 08:08 AM
  5. Gtc Group International Scam?
    By TV-PROMOTIONS in forum Mail Order Scams
    Replies: 10
    Last Post: 04-14-2006, 08:58 PM

Tags for this Thread

Bookmarks

Bookmarks

Posting Permissions

  • You may post new threads
  • You may post replies
  • You may not post attachments
  • You may edit your posts
  •