Federal Grand Jury Indicts 10 With 93 Charges in Illegal Stock Manipulation of BioTech Medics, Inc.
Published: Jun 09, 2010
LAS VEGAS, NV--(Marketwire - June 09, 2010) -
Mr. Houser said: "The Grand Jury vindicated the existing Board of Directors and Officers of BioTech by stating: 'BioTech has assets, revenues and substantial business activities. However, unbeknownst to (Houser), the principals of HaloLaser BioTherapy, LLC and Charles R. Crane MD & Associates, the coconspirators and accomplices... were intent to perpetrate their fraudulent scheme.'"
The indictment continues: "(Jeff) Turino's coconspirators and associates were instrumental in attempting to conceal Turino's involvement. The conspirators exploited (BioTech)... by fraudulently issuing, reissuing and transferring, offering and selling millions of shares of Corbel Holdings and BioTech Medics." (Note: Turino, an adjudged illegal penny stock manipulator, had been under a prior 2003 Court Order restraining Turino's involvement with Penny Stocks.)
The government is seeking individual "in personam criminal forfeiture" aggregates of over $140 Million in disgorgement and restitution to BioTech Medics victims for the crimes committed if the parties are found guilty. The grand jury has valued the aggregate damages to BMCS at approximately $1.30 per share. BMCS is currently trading at $.03. The indictment indicated several more coconspirator indictments are expected!
BioTech has retained the Houston Law firm of Shepherd, Smith, Edwards & Kantas, LLP. "The purpose of retaining the law firm is to litigate, arbitrate, mediate and/or negotiate recovery of claims for damages to BioTech arising out of illegal stock manipulation, fraud, interstate transportation of forged or stolen stock and other torts," said Keith Houser, CEO of BioTech. BioTech commenced a civil lawsuit against Wells Fargo Bank and others in January, 2010.
BioTech Medics owns and/or has affiliated BioTech Laser Pain Management Centers in 3 states.
BioTech also manufactures SHBAN™ Alcohol Free Hand Sanitizer and BioBody Nutriceutical Products.
This release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act").