BioTech Medics Issues Clarification Regarding Prior Press Release
20 June 2010 - 3:01PM
Marketwired
BioTech Medics, Inc. (PINKSHEETS: BMCS) On June 9, 2010 BioTech
announced in compliance of SEC "material event" regulations that a
Federal Grand Jury had criminally indicted 10 persons (none of whom
are current board members) regarding alleged illegal stock
manipulation, theft, forgery of shares and crimes.
The Company quoted from the indictment in "Count Ten" and "Count
Eleven" that the government is seeking individual disgorgement
monetary sums regarding, "to wit: stock of BioTech Medics,
Inc."
The Company quoted the indictment "Forfeiture Allegation Ten"
and "Forfeiture Allegation Eleven" sums sought and aggregated the
sums regarding the "in personam criminal forfeiture." The Company
also properly stated regarding those indicted that: "All are
considered innocent until adjudged guilty."
Due to the fact the indictment is ambiguous and not clear as to
how those sums were allocated the Company aggregated the two
separate and distinct forfeiture quoted sums specifying "BioTech."
Due to the fact the indictment is also seeking RICO (Racketeering)
forfeiture, the forfeiture sums may be subject to treble damages
(but again this is not clear).
So to avoid any confusion and/or misunderstanding of the prior
press release the Company would like to restate and clarify the
previous press release and opinion expressed.
Any quote from the indictment of any sums relating to the
aggregate of the alleged forfeiture sums should not be confused
and/or misunderstood and/or considered to reflect in any way
whatsoever regarding any past, present and/or future value and/or
benefit to BioTech and/or its shareholders by the grand jury. Only
a judge and jury subsequent to deliberating at trial on all of the
evidence presented will a determination be made. That also will not
be the final resolve.
According to statements published at an April 2010 Asset
Forfeiture Conference held in Florida at which Richard Weber, Chief
of the Asset Forfeiture & Money Laundering Section of the U.S.
Department of Justice was a speaker, a brochure to the event put in
perspective challenges facing these types of enforcement actions:
"Every day in the United States, criminals earn $1.4 billion from
their crimes. Of the $500 billion they earn..." (steal)
"...annually, they lose only $4 billion to law enforcement
forfeitures. If you're a criminal you run less than a 1% chance
that your criminal wealth will be confiscated."
Since the indictments BMCS is still experiencing shorting and
illegal manipulation.
Contact: Tom Wood 972-274-5533
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