Madoff scandal gets headlines, but CMKX ‘diamonds’ boondoggle got your money, too
Posted by John L. Smith
Friday, Feb. 06, 2009 at 06:25 AM
The suspected $50 billion Ponzi scheme operated by Bernard Madoff has made national headlines due to its size, scope, and some of the celebrities who lost a bundle with their man Bernie.
But in Las Vegas, where the Founding Fathers ought to have erected a statue of Ponzi on Main Street, there is case I’ve been writing about for years that also deserves attention. It’s the story of CMKM/CMKX Diamonds and its chief pitch man, casino high-roller Urban Casavant.
Casavant has sold billions – yes, that’s billion with a ‘b’ – of shares of stock to suckers by claiming to possess prime diamond mining territory in the far reaches of Canada and the ability to get the gems out of the ground. The SEC has been iceberg-slow to investigate him.
What we have established is that Casavant had a lavish lifestyle that included gambling and a racing team that sported the CMKX logo. There’s also a certain Nevada Secretary of State-turned-Congressman who is a weekend racer who used a CMKX vehicle many years ago before the scandal broke in the mainstream media.
Anyone have thoughts about Casavant’s business, whereabouts, and current status?
I’d like to know.
This entry was posted on Friday, Feb. 06, 2009 at 06:25 AM and is filed under John L. Smith. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response.
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10 Responses to "Madoff scandal gets headlines, but CMKX ‘diamonds’ boondoggle got your money, too"
interesting little story but you forget to say you had the fraud evidence on the net in feb 05, the sec and the task force from the fbi/doj/irs had the records you put on the net in sept 2004 from the silver state bank.
Now after they had the fraud evidence the sec also watched every single trade go through cmkx, nevwest phoned in every single cert to the sec, and they just let it happen.
Casavant could write multi million dollar check after the fraud was busted, cmkx traded more than the rest of the market after they were busted, cmkx had amazing land at this time, their pr's signed off by bob maheu and a team of super lawyers. The lawyer that made the "mistake" to go unreporting was the asst. D/A from manhattan, and most important the shareholders had a lawyer bill frizzell.
Bill was warned tens of thousands of times this was a scam on the net, he knew about the silver state bank records as we all did it was on the net (you put it there first), and bill then worked with urban and bob maheu and the team of super lawyers, who all knew as well. Bill after worked with urban and said he was extorted and a good guy, bill watched the massive trading, he knew about roger glenn's opinion letters as we all did, he said the cmkx shareholders have been handed on a silver platter the largest short and assets he made sure were being maintained.
It all was just allowed to happen with the full knowledge of all involved, so we better be ok.
and why don't you include any of that in your little story, it is good reading. And this is just the tip of the iceberg!
gusj
www.lvrj.com/blogs/smith/Madoff_scandal_gets_headlines_but_CMKX_diamonds_boondoggle_got_your_money_too.html...Flying Moose(cmkxunofficial)