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Subpoena for Wachovia Bank Accounts

Subpoena for Wachovia Bank Accounts

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Published by ValueSearcher70
Two more subpoenas filed by IEAM yesterday. These subpoenas are for the production of bank account records. The corporate books and records created by Margulies and Mazzuto are complete fiction. Therefore, these bank account records will likely be the foundation of the restatement of IEAM’s financials as well as an important part of establishing the size of the company’s NOL.

As importantly, recovery of the account records, which Margulies has refused to adequately produce for years now, will likely show the extent of the money laundering that went on and where proceeds of the illegally issued and sold stock went.

As noted in the subpoena, at least $17 million of stock sale proceeds were received into and transferred out of Margulies Law’s IOLTA account at National City. Keep in mind that IOLTA accounts cannot be used to receive securities (in addition to all the other obvious abuses of this account by Margulies, Mazzuto, and Weisberg, et al).

In the deposition excerpt (Exhibit C) Margulies rolls over on Martin Weisberg (Baker & McKenzie) and Mazzuto by indicating that he set up the IOLTA account at their request/direction. Obviously, this doesn’t exonerate him, but it’s probably just the beginning of these guys giving each other up.
Two more subpoenas filed by IEAM yesterday. These subpoenas are for the production of bank account records. The corporate books and records created by Margulies and Mazzuto are complete fiction. Therefore, these bank account records will likely be the foundation of the restatement of IEAM’s financials as well as an important part of establishing the size of the company’s NOL.

As importantly, recovery of the account records, which Margulies has refused to adequately produce for years now, will likely show the extent of the money laundering that went on and where proceeds of the illegally issued and sold stock went.

As noted in the subpoena, at least $17 million of stock sale proceeds were received into and transferred out of Margulies Law’s IOLTA account at National City. Keep in mind that IOLTA accounts cannot be used to receive securities (in addition to all the other obvious abuses of this account by Margulies, Mazzuto, and Weisberg, et al).

In the deposition excerpt (Exhibit C) Margulies rolls over on Martin Weisberg (Baker & McKenzie) and Mazzuto by indicating that he set up the IOLTA account at their request/direction. Obviously, this doesn’t exonerate him, but it’s probably just the beginning of these guys giving each other up.

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Published by: ValueSearcher70 on Jul 31, 2010
Copyright:Attribution Non-commercial

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11/21/2012

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