Is the CEO practicing fraud ?

It appears to be common knowledge and/or belief that the CEO of IC Places, Inc., Mr. Steven Samblis, is using false pretenses to motivate investors by using multiple aliases on message boards.  It is believed that the most recent attempt to do this by using the alias “JapanInc” has been thwarted by the Administrators of Investors Hub.  That alias has been suspended until March 16th, 2017 (see below graphic, click to enlarge).  His other alias HollywoodFastLane has been “booted” also.


It is also a widely held belief that he has used (and perhaps continues to use) other aliases such as “dotd“, “mrighttrade“, and “zurich” to name a few, in order to promote the company and attempt to appear the endorsement is coming from an independent investor or potential investor.   If this action can be proven to actually be conduct by Mr. Samblis, and at this point there is little doubt by many who know his practices and writing style, this appears to an an actionable activity by the SEC.  Take a look at the below graphic.  It is an excerpt from an article here that details a provision in SEC regulations that regulate such activity.


The SEC regulations were aimed at prohibiting “any manipulative or deceptive device or contrivance.”,which basically means any intent, action or vehicle, such as message boards, to contrive a scheme to mislead others.

Let’s look at the sections a (a), (b), and (c) of the Act.

(a) To employ any device (message boards), scheme (appear to be another person), or artifice to defraud.  Obviously the use of an alias and indicating the writer/poster is an impartial contributor is covered by this statute.  This is probably the most blatant disregard for integrity with investors.  Its shameful if a CEO of a public company feels the need to deceive investors by masquerading as satisfied investor.  Can he not find at least one investor that actually supports his company ?

(b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.  WOW… several instances come to mind that would fall under this section, such as the use of aliases for one.  Regarding the second part relating to “omit” facts that would perpetuate a false and misleading statement… how about Mr. Samblis not commenting on the $194,000. per airport deal with Clearvision.  Mr. Samblis let that VERY material fact go unclarified to this day.   Also, SEC 10-K/Q filings and statements regarding no lawsuits against the company (details here), and statements made regarding the president’s departure (details here).  Additionally Mr. Samblis’s statements about selling shares of the company to finance ongoing operations (details here).   We could go on and on but its obvious that there are many examples that would fall under this section.

(c) To engage act, practice, or course of business which operates, or would operate as a fraud or deceit upon any person, in conjunction with the sale of any security.  Many would argue that the entire premise of IC Places, Inc. is to sell shares of stock to finance the whimsical lifestyle of Mr. Samblis.  After almost 10-years of doing business, and after 3 reverse splits of the stock, the PPS hovers just over triple zeros again.  Mr. Samblis left intact the 2-billion share structure which many believe is in force to allow Mr. Samblis to sell as many shares as he needs to keep the cash flowing in.  Currently, it appears, there have been several new companies initiated that are outside of the corporate veil, and many believe much of any revenue is being diverted to those companies in order to shield such from corporate investors, (details here).  If any, or much, of this is accurate, those actions certainly constitute fraud and deceit upon any person in conjunction with the sale of any security.

Should you agree that the above should at least be investigated by the SEC, here is the link to their complaint page.  The SEC treats all tips, complaints and referrals as confidential and nonpublic, and does not disclose such information to third parties, except in limited circumstances authorized by statute, rule, or other provisions of law.  There are also additional confidentiality protections if you so desire.  See the enforcement tips page here for details.

There is an excellent quote from Edmund Burke… “The only thing necessary for the triumph of evil is for good men to do nothing.”  Will YOU further Mr. Samblis’s actions by doing nothing ?

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