George Tannous gets almost 3 years in federal pen for investment fraud

On March 21, 2012, in Uncategorized, by David

Former IRS agent sentenced to prison in investment scam

A former Internal Revenue Service agent was sentenced to nearly three years in federal prison after pleading guilty to charges related to an investment scheme that caused victims to lose more than $8 million.

George Tannous pleaded guilty in 2008 to charges of conspiracy and filing a false tax return for his role in a scheme that defrauded hundreds of investors in Bidbay.com [aka bidway.com, auctioncities.com, auctiondiner.com, askgt.com], which was developing an online auction website. Tannous was Bidbay’s president.
U.S. District Judge Dean D. Pregerson sentenced Tannous on Monday to 33 months in prison and ordered him to repay $8.8 million to 218 investors.
Victims were lured into purchasing unregistered shares of Bidbay from 1999 to 2003 by false promises that the company would be acquired by EBay Inc., a move that would inflate the value of Bidbay’s private shares. EBay had no such plans, prosecutors said.
Tannous , 55, had previously worked as a revenue agent with the IRS. He left the agency in 1993 and opened a tax-consulting business before launching Bidbay.
According to prosecutors, Tannous failed to disclose to investors in Bidbay that up to 50% of their investments were paid as commissions to telemarketers who solicited investments. Tannous personally received nearly $3 million of investor money, which he failed to report as income in his tax filings, prosecutors said.

 

Discussion:

http://sneakydave.com/community/threads/bidbay-president-sent-to-prison-for-investment-fraud.696/

More on George:

http://sneakydave.com/wp/tag/bidway/

Tagged with: •
 
0 Comments
Leave a response

Looking for partners for Creighton Bluejays sports message board

On March 20, 2012, in Uncategorized, by David

I like the Creighton Bluejays, I follow the Creighton Bluejays, but I’m not a hard core fan enough to create a site to provide content to it on a daily basis.

Ever since the BlueJay Cafe moved to the Rivals network, the once popular site has languished in obtrusive ads, lame security, less message functions, and crass administration.

I’d like to provide the hardware, software and framework for a message board that Creighton fans should be able to enjoy, but I need devoted fans and/or content creators to make the site a success. I’m willing to donate the software and time to administer a site that Crieghton fans should be proud of.

If interested in such an endeavor, let me know by posting a message here. I can provide projects and references on request.

Tagged with: • •
 
0 Comments
Leave a response

Latest Scott Samuel and Yakim Almaleh Projects

On March 20, 2012, in Quarrels, by David

Scott Samuel

Scott Samuel and Yakim Almaleh are back with new dot com ideas:

http://ambu.sh – Some kind of Runescape (yes, that Runescape) stats aggregator.

http://imagi.ne – Possibly some kind of micro donation site for charities or some other goodwill induced transactions.

Scott and Yakim were part of a failed site called AuctionEthics.com a few years ago, and left a lot of people abandoned, stranded in the Chicago area. Now it appears they’ve been using the same tactics and behavior to lure people into their latest projects.

More:

http://www.thehowcafe.com/forum/showthread.php?p=184707

http://therossshow.com/showthread.php?t=14144

“Temporary Labs” is the Illinois based LLC company set up to manage the sites. Scott is some kind of manager or “visionary”, and Yakim, residing in Canada, is considered the “CEO”.

Use the search on the right to find more information….

 

Tagged with: • • •
 
0 Comments
Leave a response

« Previous Entries