Posted by: DrTichener
Demise of another South Florida Stock Fraud Empire
Jail may await a pair of convicted-felon Message Board Owners Bob Zumbrunnen of Cleveland MO, and his associate Matt Brown of Tallahassee, Florida have struck a reef with a bulletin-board issue.
Sources close confirm that the pair attempted a two pronged stock scam that is resulting in criminal complaints against the pair.Operating under the aegis of "InvestorsHub & Silicone Investor," a corporation registered in Florida, Zumbrunnen and Brown reportedly obtained about 20-million shares of S-8 stock from the prior management team of as part of a reverse merger . Six days later, the pair then allegedly tried to palm off a bogus opinion letter from a Colorado based lawyer lifting restrictions to another 20-million shares of stock.The company alerted its transfer agent of the scam-in-progress, and managed to block the transfer according to a source close to the event.
<---------Dirt Bag on the Left of this Photo Is Matt (Pump & Dump'em) Brown
The particular problem with the business arrangement of Zumbrunnen and Brown is that they are both convicted felons currently under supervision by state and federal authorities. Each has a provision in their probation terms strictly prohibiting association with other criminals. Violation of those provisions subjects the pair to immediate arrest and imprisonment, according to the Department of Law Enforcement source.Zumbrunnen is presently serving a 14-month probation for drug possession. Brown is only about one year into a 7-year period of federal supervised release for a related Pump & Dump Scheme.
According to records at the Federal Bureau of Prisons, Brown, 37, was released from federal prison on July 8, 2002. He is currently being supervised by the federal probation office in. Zumbrunnen served no jail time following his two-count County felony drug convictions last February. Brown reportedly served 40-months in federal custody before being released to the Tallahassee area.
"Neither Zumbrunnen nor Brown responded to requests for interviews. Law enforcement sources say that state and federal action against the pair could occur as early as next Monday for possible parole or probation violations.