August 2, 2013: For the past 3 years Awesome Penny Stocks (APS) has been the most popular email spam promoter in the penny stock world building up a huge following while avoiding any action from the regulators. APS has mastered the game of controlling a penny stock shell and all of its free trading stock (usually through foreign entities), pumping the stock using a viscous stream of emails with glowing promises of riches, price targets, and lies, and manipulating the share price through wash trading and other illegal trading practices. This report will take a closer look at some of the main individuals involved in the Awesome Penny Stocks cartel.
Aaron S Lamkin and Scott F Gelbard
Back in June of 2012 we posted research exposing the involvement of several individuals with a various Awesome Penny Stock promotions in our report titled "A Banned Stock Promoter's Noteworthy Connection to APS". The two main individuals that we linked to Awesome Penny Stocks were a pair of banned stock promoters out of Colorado named Aaron S Lamkin and Scott F Gelbard. On November 16, 2011, Aaron S Lamkin and Scott F Gelbard were barred from association with any broker or dealer by the SEC for their roles in the illegal distribution and sale of Xpention Genetics, Inc. (XPNG) and HS3 Technologies, Inc. (HSTH) stock. The Complaint describes a stock promotion scam very similar to the Awesome Penny Stock promotions. Aaron Lamkin is a 35 year old Castle Rock, Colorado resident and graduate of Colorado State University. Scott Gelbard is 37 years old and also graduated from Colorado State University. He lives within walking distance of Lamkin in the same area of Colorado. Also barred in the same SEC litigation was Lamkin and Gelbard's fraternity brother, Jeff Koslosky, and their company, The Regency Group, LLC. Since that original report in June of 2012, we have continued to research and identify other possible key players in the Awesome Penny Stock cartel.
In our June 2012 Awesome Penny Stock report, we mentioned an anonymous financial backer located in Singapore. We believe the link to Singapore may be Scott Gelbard's father, Henry Gelbard. Henry Gelbard has been involved in penny stocks for a very long time. Eileen Gelbard is Harry's wife (Scott's mom).
By December of 2011 (even before our last report), it had become very obvious to most of the penny stock world that market maker, Wilson Davis & Co (WDCO), through their Denver office was playing a huge role in helping Awesome Penny Stocks to manipulate the share price during their paid promotions. The Denver office was run by one man, Anthony Kerrigone. Anthony Kerrigone's office was located very near to the homes of both Aaron Lamkin and Scott Gelbard making him the ideal choice to help Lamkin and Gelbard with their stock manipulation schemes.
|Proximity of Key APS Players|
PumpsAndDumps.com did a great write up on December 29, 2011 about the way WDCO was being used to manipulate the price of NSRS during that APS promotion. PumpsAndDumps.com also documented through several L2 screen shots just how obvious it was that WDCO was helping to manipulate the market for the APS cartel on June 3, 2012 during the GWBU promotion.
Infitialis also did a great report about WDCO and APS in their September 27, 2012 PRTN report (part 1).
Promotion Stock Secrets was the first to break the story about Anthony Kerrigone's Denver WDCO office going broke and closing its doors on April 30, 2013 thanks to a naked short position held in LOTE. In that report we detailed how Awesome Penny Stocks made two failed attempts to bail out their favorite market maker friend. In the end it wasn't enough though and the WDCO Denver office closed down.
Anthony Kerrigone, who was involved in helping the APS cartel for more than 2 years, was now out of the picture, but not for long.
On July 26, 2013, Anthony Kerrigone was hired by another market maker, BMA Securities (BMAK). BMAK is best known for their close association with toxic financiers like Magna Group, Fairhills Capital, Asher Enterprises, and others.
|Anthony Kerrigone Registration|
BMAK has already begun playing a major role in the price action for current Awesome Penny Stock promotion, XUII and now has to be the #1 market maker to watch for suspicious involvement with future Awesome Penny Stock promotions.
BMAK/Kerrigone has been very active on SOUL (another current big name promotion) making us wonder if there might be some kind of link between SOUL and APS or BDPS and APS.
Also of note, we have noticed that Monarch Bay (MBAY) appears to be the market maker liquidating stock for Awesome Penny Stocks with XUII.
Jason Pollack is a market maker at Asciendiant Financial (ASCM) in Florida. The Pollack family is related to the Gelbard family. We think that Eileen Gelbard might be Jason's aunt. You'll find on Jason Pollack's Facebook page that he is friends with Eileen Gelbard (mother of Scott Gelbard) as well as friends with Anthony Kerrigone.
|Jason Pollack Facebook Friends|
We believe that Jason Pollack also plays a role (though not as large as Anthony Kerrigone) in helping Awesome Penny Stocks to manipulate the price of the paid promotions.
Ramish Abib aka Ramish Habibullah and Babur J Kabiri
Ramish Habibullah is 22 years old and runs Media Elite Consultants, LLC which is located in San Antonio, Texas.
Babur J Kabiri is 23 years old and is close friends with Ramish Habibullah. He has been involved in penny stocks since he was at least 16 years old.
In our report about WDCO closing down from April 30, 2013, we mentioned that Awesome Penny Stocks was offering money to journalists to publish reports for them. We have identified two main individuals that have been involved in these types of correspondence as well as acting on behalf of Awesome Penny Stocks for other transactions and communications, Ramish Habibullah and Babur Kabiri. We have strong evidence to back up this belief.
Based on our research, it is our belief that Henry Gelbard and Scott (Father and Son) as well as Aaron Lamkin and Jeff Koslosky are some of the main individuals behind Awesome Penny Stocks. This group uses the Afghani kids to do a lot of the internet stuff and run wires through their companies (Media Elite Consultants, LLC for example). There is then a compensatory relationship with Anthony Kerrigone (who moved to Colorado two years ago living less than 5 miles from the bunch) and Jason S. Pollack - OTCBB market makers that are always enforcing the bid and ask spread.
Aaron Lamkin, Scott Gelbard, and Harry Gelbard are like Gus Fring from Breaking Bad. They live a double life in Colorado while secretly controlling hundreds of millions of dollars offshore with the help of Kabiri and Habibullah.
We are also working on research that could show that Awesome Penny Stocks may be using Titan Belize Securities to mask their ownership.