Author Topic: Scam Alert Sungames  (Read 509638 times)

Offline aradisc

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Re: Scam Alert Sungames
« Reply #440 on: August 16, 2014, 08:53:31 PM »
And it looks like the CEO of Sungame is a known quantity in Alberta:

http://www.albertasecurities.com/news-and-publications/Pages/customdisp.aspx?pi=1308

Quote
Alberta Securities Commission (ASC) staff have issued a notice of hearing alleging Neil Chandran and Energy TV Inc. perpetrated a fraud, and along with Chandran Holding Media Inc., raised $56 million by engaging in illegal trades and distributions.

Offline Boruch999

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Re: Scam Alert Sungames
« Reply #441 on: August 16, 2014, 09:25:07 PM »

Offline buyitnow

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Re: Scam Alert Sungames
« Reply #442 on: August 18, 2014, 03:08:27 PM »
what happened to this blog? did someone buckle under pressure?

http://sungamescam.blogspot.com/

Offline bubkiz

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Re: Scam Alert Sungames
« Reply #443 on: August 18, 2014, 03:12:12 PM »
probably.

Offline aradisc

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Offline buyitnow

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Re: Scam Alert Sungames
« Reply #445 on: August 18, 2014, 05:34:03 PM »
interesting... the counter party in the stock certificate that was posted on the (now deleted) blog is a financial firm. when you look up the address of their UK offices, it's a regus location!

then there is a sister-company to SG in that same certificate.

if you try and delve into their S1 filing and then related auditing firms original share holders (pre IPO), you find yourself in a dazzling web of corporate shenanigans that could make your eyes go square. these guys are pros.

Offline aradisc

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Re: Scam Alert Sungames
« Reply #446 on: August 18, 2014, 06:03:58 PM »
interesting... the counter party in the stock certificate that was posted on the (now deleted) blog is a financial firm. when you look up the address of their UK offices, it's a regus location!

then there is a sister-company to SG in that same certificate.

if you try and delve into their S1 filing and then related auditing firms original share holders (pre IPO), you find yourself in a dazzling web of corporate shenanigans that could make your eyes go square. these guys are pros.

Oh, no doubt they're pros, judging by the amount of time that they've been in this hustle and they haven't yet been caught (Alberta only catching on a few months ago). Websites and messaging are quite professional as well. Like any good fraudster, they've probably been riding on the fact that their marks are either delusional or too embarrassed to contact authorities.

Offline PlatinumGuy

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Re: Scam Alert Sungames
« Reply #447 on: August 18, 2014, 09:39:45 PM »
how many of them invested in Madoff?
Madoff had incredible legitimate investment success in the beginning
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Re: Scam Alert Sungames
« Reply #448 on: August 18, 2014, 11:07:52 PM »
Madoff had incredible legitimate investment success in the beginning
Fine so the others
Feelings don't care about your facts

Offline buyitnow

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Re: Scam Alert Sungames
« Reply #449 on: August 19, 2014, 04:45:46 PM »
Oh, no doubt they're pros, judging by the amount of time that they've been in this hustle and they haven't yet been caught (Alberta only catching on a few months ago). Websites and messaging are quite professional as well. Like any good fraudster, they've probably been riding on the fact that their marks are either delusional or too embarrassed to contact authorities.

their website is actually the least professional part of the operation. they really shine in creating a complex web of inter-related corporations (some of which are publicly traded) to hide what is really going on. none of the these companies actually creates or delivers anything but they all serve some purpose in making the others look legit. it requires a mastermind to keep track of all that.

Offline aradisc

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Re: Scam Alert Sungames
« Reply #450 on: August 19, 2014, 10:53:57 PM »
their website is actually the least professional part of the operation. they really shine in creating a complex web of inter-related corporations (some of which are publicly traded) to hide what is really going on. none of the these companies actually creates or delivers anything but they all serve some purpose in making the others look legit. it requires a mastermind to keep track of all that.

You're right that it's quite complex, but they didn't create everything from thin air. It looks like Sungame was an established company about to go bankrupt- in swoops NC & Co to buy them out, and get a new "legitimate" front entity for their scamming. From an SEC filing:

Quote
Effective April 15, 2011 Sungame Corporation entered into a merger agreement with Freevi Corporation, acquiring 100% of the outstanding common stock of Freevi Corporation... The transaction was accounted for as a reverse merger as the shareholders of Freevi Corporation retained the majority of the outstanding common stock of Sungame Corporation after the share exchange... Subsequent to the April 15, 2011 recapitalization Freevi Corporation ceased to exist, with Sungame Corporation as the sole surviving entity.

Offline buyitnow

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Re: Scam Alert Sungames
« Reply #451 on: August 26, 2014, 07:48:01 AM »
the entity behind all these shenanigans is not a creative force of any sort.  they simply play corporate games and blindside small-time investors in the financial markets by using their various shell companies for a smoke and mirrors effect. this gaming company is good at one thing: gaming the system. they will be taken down -- it is only a matter of time. 

Offline Menachem613

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Re: Scam Alert Sungames
« Reply #452 on: August 26, 2014, 05:03:43 PM »
It's down to $5 a share.

Offline Freddie

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Re: Scam Alert Sungames
« Reply #453 on: August 26, 2014, 06:15:11 PM »
It's down to $5 a share.

The lady on the call said we're close to the end.  ;)

Offline Menachem613

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Re: Scam Alert Sungames
« Reply #454 on: August 26, 2014, 06:23:46 PM »

The lady on the call said we're close to the end.  ;)

She knew her stuff. He he.

Offline henche

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Re: Scam Alert Sungames
« Reply #455 on: August 26, 2014, 07:16:10 PM »
Meanwhile, this very expensive and professional lawyer is home early for the day for the first time in a very long time. Yay!

Offline Freddie

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Re: Scam Alert Sungames
« Reply #456 on: August 26, 2014, 07:39:16 PM »
Meanwhile, this very expensive and professional lawyer is home early for the day for the first time in a very long time. Yay!

His kids miss him.

Offline churnbabychurn

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Re: Scam Alert Sungames
« Reply #457 on: August 26, 2014, 07:58:16 PM »
Meanwhile, this very expensive and professional lawyer is home early for the day for the first time in a very long time. Yay!
This is what they call WL balance. :-\

Offline henche

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Re: Scam Alert Sungames
« Reply #458 on: August 26, 2014, 08:13:49 PM »
This is what they call WL balance. :-\

Yes. 

Offline Ergel

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Re: Scam Alert Sungames
« Reply #459 on: August 26, 2014, 08:14:09 PM »
Meanwhile, this very expensive and professional lawyer is home early for the day for the first time in a very long time. Yay!
7:15 is early?
Life isn't about checking the boxes. Nobody cares.