ARC China / investment fraud
In early 2008, I was solicited by Adam Roseman the CEO of ARC Investment Partners to invest in one of his reverse merger stocks, Legend Media, LEGE.OB, at $5 a share. He told me that it was a great company in the China radio advertising market and run by a very competent business man, Jeffrey Dash. I bought the stock and it dropped like a rock and now sells for 20 cents.
In July 2008, Roseman and Dash are touting Lengend Media on Fox Bisiness News; by December the stock was at 50 cents. Here is a link to the interview: http://video.foxbusiness.com/v/3874863/?playlist_id
Around the same time, Roseman called me to invest in another one of his reverse merger stocks, Perfect Energy, PFGY.OB, at $7 a share. I bought the stock. It now trades at 21 cents.
In 2007 Roseman had recommended I buy another stock he brought to market, Pure Bio Fuels, PBOF.OB, at $1.25 a share. Today, this stock is at 8 cents. Later, after doing some research, I found out that every stock Roseman and ARC Investment Partners brought to market became virtually worthless. Roseman brought Stratos Renewable Corp., SRNW.OB, to market through a reverse merger in the beginning of 2008 at $1.60 a share; today this stock is at 2 cents. Roseman brought out China Energy Recovery, CGYV.OB, at $12 a share; now this stock is at 60 cents. Everyone of Roseman’s stocks have dropped by over 95% from the original offering price.
Here is a link to Edgar, showing all of Roseman's stocks: http://yahoo.brand.edgar-online.com/PeopleFilingResults.aspx?PersonID=4203237&PersonName=ADAMROSEMAN
In all these deals, Roseman and his ARC Investment Partners “professionals, ” Michael Kurdziel, Steven Magami and Jeffrey Dash, made millions, while all his investors were stuck with worthless investments and lost millions. I invested $140, 000 with Roseman and lost over $120, 000.
Doing a little more research, I found out that Roseman, Jeffrey Dash, and ARC Investment Partners have all been named as major defendants for fraud and breach of fiduciary duty in United States Bankruptcy Court by the Liquidating Trustee to defraud investors out of a $200 million company, Xyience Incorporated.
The Liquidating Trustee alleges that Roseman entered into a conspiracy with Roseman’s business partner Patrick Brauckmann, his friend Jeffrey Dash, who was Xyience CFO at the time, and Xyience Director Adam Frank, to defraud Xyience creditors and stockholders.
Here is the link to the fraud complaint filed in the U.S. Bankruptcy Court: http://www.jdsupra.com/post/documentViewer.aspx?fid=4abf4de0-48ee-43c4-8297-b77da8b0d0db
After reading the Trustee complaint, I realized that Roseman had made Jeffrey Dash the CEO of Legend Media, then recommended Legend Media stock to me, after they had defrauded the Xyience investors.
To add insult to injury, Roseman has formed a new investment company, ARC China. He is soliciting more unsuspecting people to put their money into his scam investments. Incredibly, Legend Media, China Energy Recovery and Perfect Energy are three stocks that ARC China recommends.
Roseman puts out press releases that he is a big philanthropist, donating money
to many worthy causes. Yes, money from me and all the other people he has defrauded. Adam Roseman is no philanthropist, he is a cheap conman who has stolen millions from unsuspecting people.