Take physic, pomp

The Jemi Fibre (JFI.v) pump and dump scam: How we know Bobby Genovese is behind it

That’s easy: As long as you know where to look there’s a whole bunch of paperwork to prove it. Funnily enough, he hasn’t been smart enough to cover his own tracks on this one, as even the ego-massage pump pieces in which he loves to feature have a trail of breadcrumbs. Take for example this obsequious Q&A in South Florida’s ‘The Business Journal’ which has this at the bottom of things:

BG Capital Group of Companies
The group has two main affiliates, which are based in Barbados, although BG has office in Plantation, Boca Raton, Nassau, Los Angeles, Toronto and Vancouver.
BG Capital Group Ltd.
A merchant bank specializing in small- and mid-cap investment services, such as mergers and acquisitions. It is also the largest shareholder in Clearly Canadian Beverage Corp., which has filed a plan with bankruptcy court in Canada to go private.
BG Capital Management Corp.
Owns 100 percent of:
Neptune Society, cremation services, Plantation
American DataSource, a trust administrative service provider to the funeral service field, Houston
BG Capital Real Estate Holdings
Vancouver International Polo Team, which also has a polo club in Argentina
The Little School House, an early learning center, Nassau
Owns 75 percent of:
Neptune Memorial Reef, an underwater memorial park off Key Biscayne
Owns 50 percent of:
Jemi Holdings, a British Columbia land company

M&M Engineering, St. John’s, Newfoundland
Tamarack North Ltd., builders and engineers, Port Carling, Ontario
Bari Builders, Pompano Beach
Nautic Distributors Ltd., a watersports products company, Richmond, British Columbia

And when you start looking around, you see that Jemi Fibre (JFI.v) is a wholly-owned subsidiary of Jemi Holdings. Which means he’s the biggest shareholder of the public company and in effect, as of last month when this pump began, as well as selling shares to you suckers he’s also lending money to himself at exorbitant rates of interest…

“…the company (JFI.v) announced that it has completed a senior secured debt financing pursuant to which the company issued notes to investment funds managed by Vertex One Asset Management (Vertex) for $11 million. The Vertex loan has an upfront fee of 5%, a term of 6 months and bears an interest rate of 17% per annum. The company has the option to renew the loan for an additional 6 month term and during the second term the loan would bear an interest rate of 22%. Additionally, the company announced that it has completed an additional secured financing with BG Capital Group Ltd. for $5 million. The BG Capital loan is subordinate to the Vertex loan, has a term of 12 months and bears an interest rate of 22%.”

…and by the way, another wildly amusing angle is that Vertex is his company too. We’ll get to that one later.
Jemi Fibre (JFI.v) is just another one of the long, looong succession of Bobby G vehicles that only ever benefit Bobby Genovese. It will go the route of all his other P+D plays and leave you, dear greenhorn retail investor, wondering where your money went. The guy’s a scumbag, avoid this stock like the plague.

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