I wonder if any of the FBI investigators (that looked into the ‘Bermuda Short Operation’) are still involved with the bureau ? I’m sure they’d love to be informed of the current information implicating Les Price in these 'alleged ’ illegalities.
Even if the original investigators are gone, I’m sure that some of their buddies would love to do them a favour by putting Price in jail.
Perhaps some of the US shareholders could send the info to the FBI.
Here are some of the ‘updates’ regarding the scam :
Two years ago Medinah announced that it had arranged financing of US$5mn with a London-based venture capital
provider. That “deal” fell through and the person allegedly behind it, former Medinah CEO Les Price, is awaiting trial on securities fraud, money laundering and other charges in a Florida court in a case dubbed the “Bermuda Short Operation” after the name of the FBI sting operation.
The trial has already been postponed several times and according to House will now start in September at the earliest.
Medinah had been due to start a phase IV drill program at Alto de Lipangue, just north of Chilean capital
Under the terms of the agreement as it was first announced, the fictitious venture capital company was
to receive 25% of the property in return for the funding. Price is accused of planning to sell 5 million Medinah shares to, as it turned out, undercover US federal agents posing as mutual fund managers for US$1 a piece at a time when
they were trading at 6 cents, in return for kickbacks of US$1.5mn.
In August last year , the FBI arrested Price and 57 other suspects after a three-year sting dubbed Operation
Bermuda Short aimed at cracking down on securities fraud. The operation was conducted by the DOJ, the FBI, the US Securities and Exchange Commission, the US Postal Inspection Service, the Royal Canadian Mounted Police and the
National Association of Securities Dealers, and targeted numerous companies.
Price was subsequently indicted on one count of wire and securities fraud conspiracy, 10 counts of wire fraud,
two counts of securities fraud and one count of money laundering.
He was released on bail and awaits trial in a Florida court, although the hearing has been postponed twice
at the request of the prosecution and then again after the judge withdrew from the case in May this year. The delays suggest the DOJ does not have sufficient evidence to convict Price, according to Medinah.
The charges against him are in connection with an attempt to raise US$5mn by selling five million shares at
US$1 each to a “fund manager” calling itself Connelly & Williams, which turned out to be an FBI front.