Momentas Corporation was created by Al Funt and Howard Rash who have numerous associations with bogus stock schemes. Since 2003 they sold convertible debentures in the company via cold calling. They have raised CAD$ 2.9 million from 97 Ontario residents and CAD$ 6 million in total.
Other players are Sue Morrison, Malcolm Rogers and Dennis Augustine.
In June 2005 they were suspended from trading by the Ontario Securities Commission. A hearing is scheduled for April 3 2006.
A list of OSC proceedings regarding Momentas is here:
https://www.osc.gov.on.ca/Enforcement/Proceedings/M/ep_m_index.jsp#momentas
In the meantime they have "ceased operations" and promised investors that a proposal is coming on how to deal with creditors. Nothing has come so far...
I am looking for other investors for the possibility of class action.
Rob
Toronto, Ontario
Canada
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