Around May 3, 2016, John Marzulli at the Daily News of New York splashed an article across the front page that may have rocked Wall Street slightly but made very few ripples across the country. The feds arrested nine alleged fraudsters in a $131 million stock manipulation scheme — including a former underling of the infamous “Wolf of Wall Street” Jordan Belfort and a trader who shamelessly touted a worthless company on the Fox Business Network show “Varney & Co.”
“They took a company with essentially no business operations and little revenue and deceived the market and their clients into believing it was worth hundreds of millions of dollars,” Brooklyn U.S. Attorney Robert Capers said.
Prosecutors charged the schemers with artificially pumping up the price and volume of traded shares of ForceField Energy Inc., a company that claimed to be a worldwide distributor of LED lighting products.
Among those charged: Tres Knippa III, 45, of Dallas, Texas, promoter; Christopher Castaldo 44, president of a Wall Street Buy Sell Hold Inc.; Jared Mitchell, 34, the managing partner of Mitchell & Sullivan Capital, who allegedly coordinated the kickback scheme; brokers Richard Brown, 37, Gerald Cocuzzo, 37, Maroof Miyana, 35, Pranav Patel, 35, Naveed Khan, 33, and Louis Petrossi, 75, the CEO of Wealth Resources Institute.
Nearly a year to the day later, the last of the nine conspirators, Louis Petrossi, was convicted of his part in the scheme.
According to DoJ:
Following a two-week trial, a federal jury in Brooklyn, New York, returned a guilty verdict on all counts against Louis Petrossi, a former registered broker, for his role in a $131 million fraudulent promotion and market manipulation scheme involving ForceField Energy Inc. (ForceField), a publicly-traded company listed on the NASDAQ under the ticker symbol “FNRG.” The defendant used a company called the Wealth Research Institute to induce investors to purchase ForceField stock, for which he received a secret ten percent commission. Petrossi and others also engaged in illegal trading to fraudulently increase the value of the stock. The defendant was convicted of conspiracy to commit securities fraud, conspiracy to commit wire fraud, money laundering conspiracy, and securities fraud. Petrossi is the ninth defendant convicted in this case.
When sentenced by United States District Judge Brian M. Cogan, Petrossi faces a maximum sentence of 20 years’ imprisonment.
What caught my eye in particular was the company Wealth Research Institute. It is amazing just how many times tracing a group back can bring out information not only nearly a carbon copy of the United Nations 2030 Plan but can highlight the same donors who have participated extravagantly in supporting many such schemes–all because the shills have made sure to hit all the trigger buttons.
Somehow liberals, perhaps humans in general, can easily be fooled with the right wording triggers into believing anything and even promote “charities” and “think tanks” as important whether they know anything about them or not.
Regardless of politics, there is a lesson to be learned. First, the United Nations 2030 Plan is an elaborate shill. Second, great advertising can produce something out of nothing for investors to pour funds into. “If it sounds too good to be true, it is.”
Here is a look at the web site for the group…no different from dozens of others. All with the aim of grabbing great fistfuls of funds but in truth ARE they capable of delivering compassionately and honestly? The Clinton’s Global Initiative is another prime example and we all know now just what that group was about.
Global research organization that spans more than 60 countries, with offices in Brazil, China, Europe, India, Indonesia, Mexico, and the United States.
WRI leaders and experts—spanning more than 25 countries—offer commentary and insights on the latest issues in natural resources, environment, business and economics. Our staff are regularly quoted in the world’s leading media outlets.
Goals: the world must achieve this decade in order to secure a sustainable future: climate, energy, food, forest, water, sustainable cities.
I am not commenting directly on WRI since I know nothing about them other than what is on that web site, but all such groups in general.
Obama helped push the United Nation’s global agenda constantly as have other prominent names, like climate change. Honestly, taken one by one, the six areas are truly important. However, like a lot of charities, groups, think tanks, and organizations–the ultimate goal is NOT for advancing true change and assistance but funneling much of the funds into pockets of money hungry con artists.
People have been conned many times over the ages. Unfortunately in the age of instant communication and more sophisticated schemes, many of these cons are able to reach and influence more and more people. Sometimes, the elderly who have had years of experience are the first to fall even with their experiences.
Caution has to become the first word. In a world where honesty and personal honor have been drained out of the masses, it is becoming harder and harder to know who to trust. Sometimes the best method is to remember that charity begins at home – house or town or city. We need to first fix those things in our own yards before we move on to others–otherwise we have nothing to show for our efforts or to others in order to encourage them.