Saddly...the guy seems to be a big time scammer....have a look see...
scamming the SEC - Keith Laggos - Scamming the S.E.C.
WWSN Note: Keith Laggos, publisher of the NMBJ.com Network Marketing Business Journal (formerly known as "Money Makers Monthly"), was recently convicted by the S.E.C. for violations of the Securities Exchange Act of 1933. One of the charges included:
"...Laggos' Money Maker's Monthly published a laudatory article concerning TeleWrx in its July 2002 issue. The complaint alleges that Laggos was compensated by Converge and/or TeleWrx, in both stock and cash, for issuing the above-mentioned press releases and article."
S.E.C. Charges Against Keith Laggos
This has been Laggos' modus operandi all along - he represents his publication as a leading news and information source for the network marketing industry. Then he sells laudatory stories and reports under the headings of "Company of the Month", "Product of the Month", and so on, to anyone willing to pony up the cash. An earlier incident involving $25,000 is described in details here:
The Money Maker's Monthly Client List - A Police Line-up at the FTC
As you can see from the recently received e-mail printed below, the S.E.C. doesn't scare Keith Laggos for a second and he is still up to his same old tricks. Anyone got a phone number of a contact down at the S.E.C.? http://www.worldwidescam.info/dot_clear.gif
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http://www.worldwidescam.info/dot_clear.gifSelling Influence on the Internet
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Hello,
My name is [name withheld], I am the Vice President of [name withheld], an online MLM [service] provider. Our company (not knowing the NMBJ's reputation) recently inquired about advertising in the NMBJ. A Randy Duncan (with whom I was speaking on the phone) told me that the President of the magazine would like to meet with myself and my partners to discuss a strategic partnership. He wanted to offer integrated marketing solutions to his advertiser and have us generate him leads and provide an Autoresponder for them as well, all in exchange for $2000 a month in advertising. We agreed to meet with him here in our home state, as he was already coming here for vacation. That's when it all went sour. Keith Laggos was trying to sell us a LAUDATORY EDITORIAL called provider of the month for $10,000, BEFORE he would even allow us to sign any strategic partnership agreement. He needed to "build up our reputation before risking his". We sat out our meeting with our jaws clenched, and went home to do some research. The first thing I found was your site, followed by an S.E.C. report on Keith Laggos' PRIOR conviction, which detailed his being enjoined from ever violating Section 17(b) of the Securities act of 1933 again. Is that not what he was trying to do? What is this guy thinking?
U.S. Securities and Exchange Commission
LITIGATION RELEASE NO. 18887 / September 16, 2004
SEC CHARGES FLORIDA-BASED CONVERGE GLOBAL, INC. AND ITS CEO WITH FRAUD
SECURITIES AND EXCHANGE COMMISSION v. CONVERGE GLOBAL, INC. (United States District Court for the Southern District of Florida, No. 04-80841 (CIV-Middlebrooks) (D. So. Fla.)
The Commission announced that, on September 2, 2004, it filed a civil fraud action in federal district court in Florida against Converge Global, Inc., a Boca Raton-based telecommunications company, and Michael P. Brown, also of Boca Raton and its CEO. Also named in the action were TeleWrx, Inc., Converge's sole subsidiary, Jonathan G. Fink, of Los Angeles and a purported consultant to Converge and Keith B. Laggos, of Homer Glen, Illinois and the owner and publisher of Money Maker's Monthly, an Illinois-based magazine.
The Complaint alleges, among other things, that Converge and TeleWrx jointly issued a press release on Monday, June 24, 2002 which falsely claimed in the headline that, as the result of its recent weekend "national launch," TeleWrx had raised "over $1 million." The release also falsely claimed that, as a result of the weekend "launch," TeleWrx had signed up "nearly 1,000 distributors" (to distribute its telecommunications equipment). The Complaint further alleges that Brown and Fink were responsible for drafting and issuing the false June 24 press release. The Complaint also alleges that, on Tuesday, June 25, Laggos' Money Maker's Monthly issued a press release with the headline "TeleWrx Explosive Launch May Set New Records" and reiterating the $1 million figure used in the June 24 press release. The June 25 release went on to note that "[t]here have been companies in the network marketing industry that have reached a billion dollars faster than Microsoft. TeleWrx is destined to be one of these companies." The June 25 release also predicted that "[b]y the end of its first year, it will be a surprise if TeleWrx is not operating at a hundred million dollar annual rate. In fact it is quite possible that TeleWrx will reach the billion dollar rate within the first three years." Fifteen days earlier, on June 10, Laggos' Money Maker's Monthly had issued another laudatory press release concerning TeleWrx. Finally, Laggos' Money Maker's Monthly published a laudatory article concerning TeleWrx in its July 2002 issue. The Complaint alleges that Laggos was compensated by Converge and/or TeleWrx, in both stock and cash, for issuing the above-mentioned press releases and article. Laggos failed to disclose said compensation in any of the aforementioned publications.
As a result of the conduct described in the Complaint, the Commission has charged Converge, TeleWrx, Brown and Fink with violations of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder (antifraud provisions) and Laggos with violations of Section 17(b) of the Securities Act of 1933 (touting provision). The Commission's Complaint seeks: permanent injunctions and civil monetary penalties against all of the proposed defendants; disgorgement against Laggos; penny stock bars against Brown, Fink and Laggos; and an officer and director bar against Brown. The matter has been assigned to the Honorable Donald M. Middlebrooks, District Court Judge.
Converge Global, Inc. : Lit. Rel. No. 18887 / September 16, 2004
Wonder if he knows Dannydinar???