Category Archives: Market News

Lomiko Metals Inc. (LMRMF: OTCQB) | LOMIKIO ANNOUNCES $ 1.2 MILLION FLOW THROUGH AND HARD DOLLAR UNIT OFFERINGS

LOMIKIO ANNOUNCES $ 1.2 MILLION FLOW THROUGH AND HARD DOLLAR UNIT OFFERINGS

Jun 23, 2017

OTC Disclosure News Service

Surrey, BC, Canada

This release includes additional documents. Select the link(s) below to view.

LMR NR FT and HD PrivatePlacement 06-23-2017.pdf

Copyright © 2017 OTC Markets. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/LMRMF/news?id=162977

Zoompass Holdings, Inc. (ZPAS: OTC Pink Current) | IMPORTANT INVESTOR ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Zoompass Holdings, Inc. and Reminds Investors with Losses to Contact the Firm

IRVINE, Calif., June 23, 2017 (GLOBE NEWSWIRE) — Khang Khang LLP (the “Firm”) announces a securities class action lawsuit against Zoompass Holdings, Inc. (“Zoompass” or the “Company”) (Other OTC: ZPAS). Investors who purchased or otherwise acquired shares from April 24, 2017 through May 24, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm before the July 31, 2017 lead plaintiff motion deadline.

If you purchased Zoompass shares during the Class Period, please contact Joon M. Khang, Esq., of Khang Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at joon@khanglaw.com.

There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the Complaint, throughout the Class Period, Zoompass made false and/or misleading statements and/or failed to disclose: that the Company unlawfully engaged in a scheme to promote its stock; that the discovery of the foregoing conduct would subject Zoompass to heightened regulatory scrutiny and potential criminal sanctions; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times. On May 9, 2017, Zoompass revealed that it had been “made aware of and requested by the OTC Markets Group, Inc. to comment on recent trading and potential promotional activity.” On May 25, 2017, Seeking Alpha reported that Zoompass had erroneously denied its involvement with a scheme designed to promote its stock and purposely conceal that the Company’s CEO was involved in a pump-and-dump scheme. When this news was announced, Zoompass shares decreased in value, which caused investors harm according to the Complaint.

If you wish to learn more about this lawsuit, or if you have any questions about this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

This press release may constitute Attorney Advertising in some jurisdictions.

Contact

Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com

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Article source: http://www.otcmarkets.com/stock/ZPAS/news?id=162978

Chicago mortgage originator accused of bilking elderly homeowners out of $7 million

A mortgage originator from Chicago stands accused of running a reverse mortgage scam and defrauding elderly homeowners and lenders out of $7 million.

According to the U.S. Attorney’s Office for the Northern District of Illinois, Mark Steven Diamond is a mortgage loan originator with offices in Chicago and Calumet City, Illinois.

Diamond is currently facing seven counts of wire fraud after being accused of fraudulently causing lenders to make reverse mortgage loans to homeowners who either did not sign up for the loans or did so after Diamond allegedly misrepresented the terms of the loans.

The indictment alleges that Diamond fraudulently kept the loan funds for himself after convincing title companies to give the checks to him instead of the homeowners.

According to the indictment, Diamond targeted his victims, who ranged from ages 62 to 97, based on how much equity they had in their homes and whether they were financially sophisticated or not.

Additionally, the indictment states that if one of the relatives of Diamond’s alleged victims questioned whether a reverse mortgage was a good idea, Diamond would visit the victim’s home at a time when he knew the relative would not be there.

All in all, Diamond allegedly defrauded the lenders and homeowners out of $7 million.

Diamond pleaded not guilty to the seven counts of wire fraud.

Also listed in the indictment is Cynthia Wallace, who allegedly solicited homeowners into agreeing to allow Diamond to perform home repairs on their homes, despite Wallace know that Diamond would not actually perform the work.

The indictment also states that Wallace used several aliases and posed as a representative of the Department of Housing and Urban Development to fraudulently obtain money from victims.

Wallace pleaded not guilty to nine counts of wire fraud and two counts of falsely pretending to be an employee of the United States.

The indictment also seeks the forfeiture of $7 million from Diamond.

Article source: https://www.housingwire.com/articles/40511-chicago-mortgage-originator-accused-of-bilking-elderly-homeowners-out-of-7-million

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