• Report: #789621

Complaint Review: Russell Pike Internet Business Group

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  • Submitted: Mon, October 17, 2011
  • Updated: Tue, October 18, 2011

  • Reported By: IBGInfo — Las Vegas Nevada United States of America
Russell Pike Internet Business Group
650 White Drive Suite 120 Las Vegas, Nevada United States of America

Russell Pike Internet Business Group | Criminal Record Check | Las Vegas, Nevada

*Author of original report: Update to business name

*UPDATE EX-employee responds: SPEAK UP ABOUT YOUR RUSSEL PIKE EXPERIENCE

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Russell Pike and Iernet bunssgrupStart your due diligence here, but don't end here.

A few noteworthy items about Russell Pike if you are thinking about doing business with him.

Russell Pike's Current Court Case >>>
"FOUNDER OF ENERGY DRINK COMPANY CHARGED WITH TAX EVASION LAS VEGAS - - The former CEO of a Nevada sports energy drink company, Xyience, Inc., has been indicted by the Federal Grand Jury on tax evasion charges, announced Greg Brower, United States Attorney for the District of Nevada.Russell Pike, of Las Vegas, is charged with one count of Tax Evasion for failing to file a federal individual income tax return for 2006 and failing to pay taxes on over $6.9 million in income he earned in 2006. Pike is also charged with using nominees and a forward-dated stock sale agreement to conceal his true income from the IRS. Pike was arrested yesterday in Las Vegas and is scheduled to appear in U.S. District Court at 3:00 p.m. today before U.S. Magistrate Judge Peggy A. Leen for an initial appearance and arraignment."

http://www.justice.gov/usao/nv/press/april2009/pike04152009.htm

Filing from the state of Calfornia to Russell Pike >>>
"On June 29, 1987, Pike was indictediinSuperior Court of California, County of
Orange, on counts of grand theft and forgery. Pike pled guilty to both counts and was sentenced to
prison."

"On July 9, 1997, Pike was indicted in u.s. District Court for the District ofNevada on
counts of bank fraud, money laundering and aiding and abetting, in connection with his operation of Advanced Cart Technology, Inc. On October 13, 1998, Pike entered a guilty plea to the charge of
money laundering. On June 4, 1999, Pike was sentenced to 59 months in a federal prison, three years of supervised release and was ordered to pay restitution of$2,367,146.00."

http://www.corp.ca.gov/ENF/pdf/2007/xyience.pdf

Earlier Crimes of Russell Pike >>>>
Pike indicted in Purchase pro=
"Pike was indicted in U.S. District Court on July 9, 1997, on several counts of bank fraud, money laundering and aiding and abetting. He was sentenced in June 1999 after pleading guilty to money laundering, a prison official said.Prison officials say he was committed into the minimum-security Federal Prison Camp near Nellis Air Force Base on July 16, 1999, and is scheduled to be released Oct. 27, 2003."

http://www.lasvegassun.com/news/2001/feb/13/attorney-mum-on-criminal-record-of-man-suing-purch/

These are just a few Russell Pike's criminal activities. There are many more.

This report was posted on Ripoff Report on 10/17/2011 06:31 AM and is a permanent record located here: http://www.ripoffreport.com/r/Russell-Pike-Internet-Business-Group/Las-Vegas-Nevada-89119/Russell-Pike-Internet-Business-Group-Criminal-Record-Check-Las-Vegas-Nevada-789621. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Update to business name

AUTHOR: IBGInfo - (United States of America)

It is not Russell Pike and Iernet bunssgrup as is showing in the beginning of the report it is Russell Pike and Internet Business Group or IBG with offices in Las Vegas, New York, and Dallas. It is not clear how that set of words got into this report as they were not part of the original. However, to be clear it is Russell Pike or Russell Craig Pike of the Internet Business Group or IBG that you are looking for with regards to the posted information.
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#2 UPDATE EX-employee responds

SPEAK UP ABOUT YOUR RUSSEL PIKE EXPERIENCE

AUTHOR: Would the real whistleblower please - (United States of America)

The Las Vegas Sun Article in the last link of the preceding report is the most on point for the current victims of RCP, especially the following portion:

* Mark Margolis and more than 70 Advanced Cart shareholders sued Pike on Aug. 17, 1998, alleging they were tricked by Pike's claims that the company had exclusive technology rights into investing more than $2.8 million.The shareholders said their investments were "virtually worthless" because All Creative -- which they said was forced into bankruptcy on Aug. 8, 1996, by its creditors -- was denied a discharge of its filing after the U.S. Bankruptcy court learned that Pike allegedly destroyed his two companies' financial records and had withdrawn substantial funds from Advanced Cart in 1997 to place gaming bets of more than $1 million. Pike signed more than 70 confessions of judgment on March 10, 1999, agreeing to return the funds to the shareholders.

Bear in mind that RCP has a pattern, one he's honed over time to near perfection, but the pattern is recognizable each time it is spun out again in a new iteration with different victims.  RCP builds a company based around a good story and circumspect proof of concept. He then gets early investors in whose integrity he wraps himself to acquire (i.e. con) additional investors. He then carefully crafts private placement memoranda and lender proposal based on smoke-and-mirror financials and gilded half-truths. He then raises greater sums of money through these securities offerings which he channels through existing investors in an expanding net.

With Mainstream Ventures, Inc., http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=mZCJjxhqcFzXlqN1XTHDXA%253d%253d&nt7=0, and Internet Business Group.com, Inc. http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=4Wn87QJmhdx%252bbVr7wuC9RQ%253d%253d&nt7=0, (aka IBG.com, Positive Searches, Inc., http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=3w%252buNIGBXp%252fcZjkl%252fdIXbw%253d%253d&nt7=0, and Positive Search Results, http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=IhR9XCFaH%252fD7i9T8KSIjtQ%253d%253d&nt7=0), RCP has purportedly repeated (from 2007 to present) the tactics described in the LV Sun article going back to the mid 1990s. As you can see, his proclivity toward fraudulent criminal behavior began a decade earlier re: the grand theft and forgery felony convictions in California in the late 80s, https://ocapps.occourts.org/Vision_Public/DisplayCaseInfo.do?caseobjid=1318918772312&src=case_src, and the check kiting (Nevada), https://www.clarkcountycourts.us/Anonymous/CaseDetail.aspx?CaseID=7643800, and money laundering (Federal in NV) in the late 90s, http://www.lvbusinesspress.com/articles/2008/03/25/news/iq_19873332.txt).  

For 20+ years, this guy has remained shockingly off the radar of prudent investors, making it a challenge to perform sufficient due diligence. During this time, RCP has blazed a trail of destruction and disappointment through hundreds of lives, from ma & pa investors to shrewd business luminaries.

RCP's miraculous longevity as a con-man has been made possible by his victims' inexplicable willingness to remain silent about the financial rape to which RCP had subjected them.  But his more-recent victims are gathering together now and are talking to each other, especially the victims of his purported fleecing of Mainstream Ventures, Inc. and Internet Business Group.com, Inc.  

There ARE valid legal claims that can be brought against RCP for his purported shenanigans at Mainstream and IBG (both CRIMINAL & CIVIL), and the more RCP's victims gather to discuss their common experiences, the more likely these claims against RCP will be uncovered and substantiated.  DON'T HIDE FROM RCP, even if he (or one of his thugs) threatens you. Your silence is more likely to ensure that RCP will repeat his performance on another unsuspecting batch of victims.
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