12Feb An Open Letter to Urban Casavant
Shortly before the May 10, 2005 SEC hearing to revoke CMKM Diamonds’ status as a publicly-traded company, then CEO Urban Casavant told his shareholders: “We have been working to assimilate a tremendous amount of documentation and gathering the necessary witnesses to prove our case at the public hearing.” Five days later at the hearing, Urban Casavant refused to answer a single question, invoking his Fifth Amendment rights against self-incrimination. In all, Urban uttered the phrase “Fifth Amendment” a total of forty times. To this very day, there are countless CMKX shareholders who are waiting for Urban Casavant to finally step forward and explain his actions as former CEO of CMKM Diamonds. These are my own feelings about the situation, which is why I have chosen to post it here instead of on the CMKM Diamonds, Inc. website.
An open letter to Urban Casavant:
For years, you have refused to speak directly to anyone about your role in the defrauding of 50,000 innocent CMKX shareholders. You even refused to answer questions in a public hearing to revoke the very company that you told investors would make them all millionaires, choosing self-preservation over loyalty to your many believers. Many still believe that you are innocent, but only because it is hard to fathom anyone having such a blatant disregard for human suffering.
The innocent do not spread lies in total disregard for the well-being of others, nor do they hide in darkness while recruiting others to proclaim their innocence. The hard evidence tells the entire story, and no amount of deceit can hide the truth.
If you truly believe that you are innocent, then step forward and explain the $250 million that disappeared from Company accounts, leaving only $558 when you finally fled to Canada for the very last time. Explain how you were justified in squandering hundreds of millions of dollars to support your extravagant lifestyle while your shareholders struggled just to get by. Explain why it was okay to give yourself and four of your family members $15 million dollars worth of UCAD stock…stock paid for with CMKX shareholders’ money. Tell us why it was okay for you to write six million dollars in checks to yourself and your wife (who didn’t even work for the company) on a single day, while those who believed in you were losing everything they owned. And how do you justify spending $3.3 million in cash on a mansion just six days later while some of your shareholders were losing their homes?
Think about it. The average college graduate will earn around $2 million dollars through honest hard work in their entire lifetime. Yet, on September 21, 2004, you wrote a $3 million check to yourself and another $3 million check to your wife, money taken directly from the pockets of your most loyal believers.
We firmly believe that through the efforts of CMKM’s current management and the diligence of CMKX shareholders that justice will ultimately be served. The lies that are being spread to this very day are nothing more than a sick attempt to manipulate those whose trust you violated from the moment this massive fraud was conceived. Your continued attempts to undermine our cause only strengthens our resolve.
While most shareholders have awakened to the truth, there are some who still want to believe in you, even in the face of hard evidence that show that while you were shaking shareholders hands with one hand, you were picking their pockets with the other. Urban Casavant, you can only hide for so long. Soon, the truth will be exposed for all the world to see, and all the propaganda, rumors, and outright lies will not save you.
February 14th, 2009 at 8:03 am
Well Mr. Faulk, as CEO of CMKM Diamonds Tyler Branch, I wonder why YOU haven’t provided any financials to date. It’s amazing to me that you’ve managed to keep the company afloat on $558. Could you please explain to your shareholders (of which I am one) where the money for salaries and overhead is coming from?
Thanks so much.
February 15th, 2009 at 5:54 pm
First of all, there is only one CMKM Diamonds. Any suggestion that there is a separate “Tyler Branch” is patently false, and frankly, laughable. The company has filed all required financials to date. I might suggest that you read the numerous releases on the company website at http://www.cmkmdiamondsinc.com, which addresses the issue of salaries and financing. In short, all salaries have ben deferred since I took over as CEO. That issued is addressed on the company website in the 11/18/08 Shareholders Corner Update. In fact, I have financed some expenses out of my own pocket. I might be the only CEO in the country who would take a job that requires me to be available almost 24/7, yet doesn’t receive a single penny until we bring in some money from settlements, etc. All lawsuit and miscellaneous expenses have been covered by our corporate counsel, who will also be reimbursed as money comes in. Any financial loans or arrangements that he has made with other parties are separate from the company, and it is not my responsibility to comment on that.
February 22nd, 2009 at 5:30 pm
Mark please review this letter as it alsodestroys the probabilty of the “Plausible deniability” portion of defense that our govt. regulators may or may not ry to invoke!!
ginger
Says:
February 22nd, 2009 at 2:45 pm
Has Shelby answered this 3 year old letter?
http://tinyurl.com/3kerd4
I have gotten every CMKM iamonds shareholder that I know to sign the petition (10) and other non shareholders have been asked. We await whatever steps you deem necessary to move our cause forward. The time for second guess current mangement is way past. Shareholder by now either believe in this or they don’t. Peace SMZ
May 5th, 2009 at 7:18 pm
Mark have you ever thought about the role that you and the rest of the baloney brigade played in confusing shareholders as to who was responsible for all the shares that were getting sold?
May 7th, 2009 at 1:27 pm
John,
I have been calling for reform of the OTC stock market since March of 2004, both on the SEC and brokerage level (where lax and/or unenforced rules concerning trade settlement have contributed directly to our current Wall Street driven economic crisis), and on a corporate level. In September of 2004 on The Faulking Truth, I wrote:
“We have to demand that the criminals are arrested, that the laws are enforced (and if the existing laws aren’t adequate to address the problems, that new laws are introduced), and that the streets are cleaned up. In other words, it’s time to make sweeping changes in OTCLand, and if those in charge aren’t up to the task, then it’s time for new leadership.”
And from another article I wrote in April of 2008: “Fraud on the corporate side is just as rampant as fraud on the naked short selling side, and both issues need to be addressed before it it safe for the average investor to swim safely back into the OTC waters.”
Here we are nearly five years later, and our financial markets are in a shambles, and I and others have spent years trying to get the “criminals arrested”. I have always warned against fraud on the corporate side of the equation, and in fact, I was blasted for publicly denouncing Urban Casavant and others when my research for the book uncovered rampant fraud perpetrated by company insiders.
The OTC and Pink Sheets market is and has always been a buyer beware market, the stock market equivalent of buying lottery ticket. You wouldn’t spend all of your money on the lottery, and you shouldn’t invest it in the market either, and these days, that includes the NASDAQ and NYSE as well. It’s a rigged game, play at your own risk.
May 8th, 2009 at 8:23 am
Mark your timeline leaves a lot off. In 2004, there were people who were pointing out that CMKX was a fraud. You were on some message about naked shorting that remains unsubstantiated. And that unsubstantiated story was one of the things distracted people from the fact that CMKX was a fraud. Wouldn’t everyone have been better off if you hadn’t chimed in? In 2007 or 2008 when you came to realize Lee Webb was right, it was a little late.
As for the current crisis, naked shorting had nothing to do with the refi bubble popping. Which is a shame really, that shorting has been artificially restricted so much that it’s ineffective at popping bubbles.
July 5th, 2009 at 7:32 am
Mark,
There are no words to say how much I appreciate what the Tyler group has done - and is trying to do. Thank God for the pit-bull who never let go, a justice seeker. At least that is my ongoing hope.
I have a good friends who still believe that a huge truck is going to back up to their doors with checks so big it won’t fit in the driveway. Those deluded days are long gone for me, however, my friend is still my friend even if I have been unable to win him over to my point of view. That is the “Fellowship of the Ring” - or better yet, the “Curse of the CMKX Diamond.”
Somehow I got hooked into spending more than I had to invest - and spent years of my life following the lies.
Then the light went on….
When Tyler happened, I had this innate trust of Bill Frizzell. I don’t have a quantifiable reason for that - but the sense of trust remains. Maybe he watched a lot of Davey Crockett when he was young and picked up on the sense of a man against the wilderness - I really don’t know. There is a “Mr Smith Goes to Washington” sense about Bill, and maybe some day I will see the end of the Bill Frizzell movie - I certainly hope so. What can I say about you people who spend their own money and lives to get at the truth, and to make it known? I am not saying you guys are all angels qith pure motives. I fell into that “I trust you UC” trap years ago with UC. Urban was a crook - what can I say.
So - Entourage is a good start, although I am not entirely sure what the benefit is if 1010 has the final say in voting. However, it will be you guys who have to raise 4 million bucks and not me. Good luck with that.
Will I ever see a cent of my money back? - I hope so. I really don’t understand how that could ever happen unless the biggest RS in history were made. As much as I want my money back - and not because I deserve it - but because sometimes justice prevails and good men do what is right instead of expedient, I want a world of turmoil for Urban Casavant for what he did to countless poor people. And the government and the SEC let it all happen. So - trust runs pretty thin with those who invested in CMKX.
that was then, this is now….
BILL - thanks for doing double duty and running a business while seeking justice. I don’t know what keeps you moving forward, but I thank God that you do keep moving forward…. if I had money, I would invest in your pursuit of those crooks.
MARK - thanks for talking and talking about CMKX endlessly. Some day someone in government will become famous for exposing and prosecuting the rats behind this scam… if someone becomes well known because they bring justice - that will work for me. And we need the squeaky wheel to keep squeaking.
EVERYONE - please sign the petition to the government found in this site. Stop waiting for the big truck to back into your driveway with untold millions. Help Bill have the backing he needs to see this work through.
TO LIARS - CMKM was replete with liars from the day it began. Pathological liars abound in this fiasco. People who made up stories about changing dates and reasons for enormous payouts. I don’t have to name them with their aliases - you know who they are because their stories for years ago have been endlessly wrong and yet they are CMKM superstar aliases. And worse people hang on every lie! My prayer is that all lies will be EXPOSED as Bill plods along!
September 12th, 2009 at 3:07 pm
HEY GUYS- I KNOW YOUR KNEE DEEP IN BULLSHIT- BUT COULD YOU PLEASE TAKE THE TIME TO UPDATE THE WEB SITE. SOME NEWS EVEN IF IT’S BAD- IS STILL BETTER THAN NOTHING AT ALL, YOU GOT THE SAME INFO ON THAT YOU SIX MONTHS AGO. IF YOU HAVE NOTHING NEW TO SAY- THEN SAY THAT– I HAVE NOTHING NEW TO SAY- BUT WE’RE STILL TRYING ANYWAY. EVEN THAT LITTLE TID-BIT WOULD BE HELPFUL THANKS. EARL PLEASE KEEP US (ALL) UP TO DATE-ON THE WEB-SITE. THE (NET IS SO FULL OF CRAP) I JUST LOVE PEOPLE THAT SAY( I CAN’T TELL YOU THE DETAILS-BUT) CRAP!!!! JUST SAY NOTHING NEW TO SAY. IF YOU CAN’T TELL THE DETAILS- THEN JUST BE QUIT, PLEASE. THANKS AGAIN EARL
September 15th, 2009 at 9:46 am
It is time for CMKM Diamonds to publish the unbiased version of what happened in the last 4 years.
Julius Briner
Lansing, England
November 20th, 2009 at 9:33 pm
somebody should hook all of these people behind a pickup and drag them down a dirt road. I invested in Mr. Casavant’s company and got suckered. I know I’m to blame for believing in a low life sack of sh_t lik Casavant and his Ilke. They should be made examples of. The government should rent a building, put them in the middle and invite everybody they have suckered to throw a rock or take a hit with a bat. Those Bastards should be made an example of and then others would think twice before they did the same thing.
March 7th, 2011 at 8:12 pm
Michael rockefella - their may be something blocking a fraud arrest , they saying , fraud 50% and other 50% not fraud .I thought u have to be at 34 or 35 to be a company owner , could that be it ? But if that so , that time is up . And still , why would they leave the president broke down with nothing , like die I hate u man . They never even said hello to me , the executor- and the vice president , and the ceo . They kind of left me out on my own . But , if I never sign the tranferr papers , that mite be fraud cause I should have least sign paper saying own it . With my I’d and ss card . I didn’t no a company could run off power of attorneys for 11 years . Bank of america . Norwest corp ,jpmorgan . Citi group ,sub western bank ,wellsfargo , wachovia bank , even the merger with out my I’d , wow power of attorney is huge . People can take ya hold life with that power . Well the dad james rockefella wanted them to leave me for dead onto 11 years so their u have it they did what he said , but how can u run a person last will testment 100% of what the person asking , if u can do that their is no god !because god said no man is perfect .
March 12th, 2011 at 6:32 pm
Luke penny saving bank , ann walker aka annie k mitchel , merger first interstate bank , and citizen trust bank . Lawrence mario giannini aka luke mitchell , is this part of the fraud to . Giannini the 3rd- born around may of- (1976) - what a special kid , they need to make the 30 money print for this . Michael g .
March 22nd, 2011 at 11:14 am
Look, I invested in this company and I knew something fishy was going on, but I kept it low - about 1.6 million shares - so that if it did go broke, or turned out to be a fraud (as was the case), then I wouldn’t have such a huge loss. Alternately, my 1.6m shares would have made me a nice chunk of change if the mines were flush with diamonds.
But that’s the key, people. It was a diamond mine stock. Could anything be riskier? Countless times throughout history, men have cheated investors by giving them false hope about finding “the big one”. Yet no one learns the lesson. I’m young, so this was my first experience in the stock market. I was gullible and I thought CMKX looked pretty good, especially if it paid off. I hadn’t realized that diamond mines were one of the worst investments you could make at that point.
Yes, Urban may have been a cheat, and I hope that if he is proven guilty that he is brought to justice…but it seems to me like people are just jealous that they didn’t think of the idea themselves. I’m not defending him - he spent my investment. All I am saying is that when someone hands you a bag of magic beans, be weary of the hype and don’t go overboard with your money.
June 9th, 2011 at 12:44 pm
jmac: Thank you for your post. I’m in total agreement with your comments, except that Urban, John Edwards, Michael Williams, Rendal Williams, Ed Dhonau, Roger Glenn, Wells Fargo, Silver State Bank, and the rest of the crooks who set this up and/or perpetrated this scam ripped off shareholders. You’re right that the investment was risky to begin with (a penny stock diamond mining company), but that doesn’t make it right for people to blatantly steal from their shareholders, or for our regulators to allow it.