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Report: #737592

Complaint Review: Golden Trunk Mines LLC - Internet

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  • Reported By: webnetminescam — Las Vegas Nevada United States of America
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  • Golden Trunk Mines LLC 3275 S. Jones Blvd Lase Vegas NV Internet United States of America

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Webnet's new scam with Gold Trunk Mines 
People who have been scamed by WEBNET do NOT fall for the GOLDEN TRUNK MINE or Buena Suerte Family Trust !

The same people who sold you the crap webnet stock are selling the mine! Look for yourself!

http://www.goldentrunkmines.com/gpublic.php

The "presiden" David Kirk has worked for Greg Carrington for years and is his lacky!

There is no Beuna Trust-its just a new shares scam...

Greg was recently found guilt of securities fraus and should have no part in sticks or bonds anyway-
On February 11, 2011 British Columbia Securities Commission (BCSC) published that the commission has banned an Abbotsford man for 20 years who admitted he was responsible for four related companies that made illegal distributions to investors in Canada and the U.S. Gregory Clark Carrington, an Abbotsford, B.C. resident, was the chief executive officer and president of WebNet Converged Wireless Networks Ltd., WebNet Broadcasting Corporation, WebNet Global Capital Partners Ltd., and 3dh Capital Ltd
http://regulatorycomplianceblog.com/2011/03/01/canada-bcsc-bans-former-ceo-for-20-years/



Further to your recent telephone conversation with John Bruder I will sum up the accelerated opportunity the Buena Suerte Family Trust a BVI Trust offers you (in the form of a Gift) to recover the capital you invested in WebNet companies. The Trust has agreed to become the Settler with regards to WebNet investors who agree to accept the Gift.

This opportunity is off-shore and must be held in the highest confidentiality. This Gift offer is being made to certain investors or long term associates of the writer. The Gift is essentially a number of Shares in a public company Golden Trunk Mines, PLC which will be listed on the Frankfurt Stock Exchange (FSE) during the next few weeks.

Buena Suerte Family Trust (BVI) will receive a disbursement of certain Free Trading Shares of Golden Trunk Mines, PLC listing in the on FSE. I have negotiated with the Trust to offer to you a plan which will expedite your investment repayment and put you in a position to profit from the increase in value the Executive Management of Golden Trunk Mines anticipates.

The plan requires youre confidentially and places your asset in a trading account which you will control off-shore. .You will be able to trade your shares on a daily basis and you will be provided instructions to do so. Your shares may be held in an account by a broker of your choice, but one will be recommended to you.

There are restrictions placed on the shares.

1. You cannot just dump the stock. For that reason you must agree not to sell more than 5% of your shares in a month for the first year unless authorized by the Trust.

2. There is a transfer fee required by the UK transfer agent to issue the shares to you. This is called a Stamp Tax. Your fees are outlined in the attached Agreement.

The Transfer fees are divided into equal payments as outlined in the Agreement. Half is payable now and the second half is due upon the Trust issuing of the Stock.

3. Although I am not a Trustee of the Buena Suerte Family Trust, I have agreed to act as a temporary Trustee and pay the Stamp Tax and Processing Fees from those funds.



Gregory Carrington Acct # 92001-2283
Nevada State Bank ABA 122400779
5720 Ft. Apache Rd. Swift: ZFNBUS55 Las Vegas, NV 89125-0990

4. In the accompanying agreement you will agree that at the point your Gifted shares reach a value of double your initial WebNet investment, you will turn over to the Trust your WebNet shares and any obligations by Dr. Gregory Carrington to recover your investment will be extinguished.

5. In the event you fail to maintain confidentiality, the violation will result in all Agreements being rendered null and void and the offended party my seek legal redress in the International Courts of the Hague.

You will be issued the value of your cash paid into WebNet by any means in Free Trading Shares of Golden Trunk Mines, PLC on the Frankfurt Stock Exchange. For example: If you invested $10,000 in WebNet you will be issued 10,000 Shares of Golden Trunk Mines, PLC anticipated during the next three to four weeks. It is anticipated the shares will list somewhere between 1 1.3 Euros depending on the value of the Euro which is currently about 1.43 US dollars. So, 10,000 shares are the same as approximately 13,000 Euros or US $18,590 depending on the value of the Euro. Based on the anticipated issue price, you may almost double your money right from the issue date.

Golden Trunk Mines, PLC has received a Pre-IPO Letter of Credit in the amount of 20 million Euros and an offer to buy 1 million of the initial issue shares from a German Banking firm. This guarantees the issue. You can read attached to see how the Principals of Golden Trunk Mines, PLC expect to increase the value of the Shares. I recommend you do not sell your shares as it is anticipated that a 5-7 times valuation could occur and it is anticipated a dividend will be paid the first year.

If this is satisfactory, please fill out the agreement attached and send it directly as an email and complete the wire transfer as early as possible as this offer cannot be made after the issue date. . If you have any questions call me at 702.866.9034. My mailing address is as listed.

Gregory Carrington
3111 Bal Aire Dr. Suite 6H
Las Vegas NV 89149

I have already signed as a temporary Trustee and scanned. You can do the same if you wish.

Dr. Gregory C Carrington
As Temporary Trustee Agent for the
Buena Suerte Family Trust (BVI)
GOLDEN TRUNK MINES, LLC
 
Background
 
Golden Trunk Mines has entered lease purchase and purchase agreements with mining claim owners to provide the capital to start, re-start and otherwise put into production, certain Gold and Silver deposits beginning in January 2011. The Companys initial ventures will be in mines located in Southeast Oregon in the Virtue Mining District which is situated in Section 5, 9S, R41E of the Willamette Meridian.  Baker City, Oregon is the nearest town. This area is known for being highly mineralized in precious metals.
 
Golden Trunk Mines has identified these initial properties and considers them to be the most timely to pursue  based on the location, access, ease of start-up, simple mining techniques, equipment on site, weather, engineering and assay reports from mining engineers familiar with the properties. Once operational, the majority of the mines can be scheduled for year round operation with certain equipment modifications. For purposes of start up only one shift is mandated, however two shifts can be initiated after 60 days of operations doubling the production from the mines.
 
The Company intends to continue to review other mines which have been presented for investment evaluation with the mindset to add additional Gold properties via lease/purchase contracts. The mines will be acquired as investment funds, sales of Gold contracts and Gold production allows. Each prospective mine will have different investment criteria based on the proven reserves and the operational budgets required to put the mine into production.  Golden Trunk Mines will be the principal owner of the included mines.
 
Golden Trunk Mines intends on going public on the Frankfurt Stock Exchange in June of 2011 and is finalizing the details of the issue.  Initially the Elk Heaven and the Flagstaff Mines will be included in the public company, however the other mines will be vended into the public company in the form of announcements which will add value to the public company and should reflect positively on the trading share price.
 
Mining Operations
 
Golden Trunk Mines intends to outsource the actual day to day mining operations necessary to harvest the Gold and Silver deposits with local experts familiar with mining in the area and will have onsite management to oversee its interests in operations and production. The Company has accepted contracts proposed by Quimby Mining of Oregon to operate the mines. New or nearly new, or reconditioned equipment will be contracted, purchased or leased from equipment companies.
 
Gold Production
 
All Gold and Silver from Golden Trunk Mines will be poured into Dore bars.  The bars are poured into 2.2 kilo bars generally consisting in the case of Gold, Ninety one percent (91%) or higher content of Gold and the balance Silver/platinum.  This is a common method of holding Gold prior to it being refined to .9995% fine.  Until Gold is refined to .9995% fine there are no tax consequences.  The Dore bars are individually assayed, stamped, serialized and sold to the smelter at spot less a small discount.
 
 
 
Elk Heaven Details
 
The Elk Heaven Mine asset consists of claims covering approximately 100 acres in Section 15 and 16, Township 8 South, Range 36 East of the Willamette Meridian, Grand County, Oregon.  The claims are reached by leaving Sumpter Oregon and turning up Cracker Creek road in to the Silver Creek drainage. 
 
The Mine has two levels of minerals.  The Upper level is entered at approximately 6,000 feet and the Lower level entrance is at approximately 3,000 feet.  The Elk Heaven vein system lies partially in the pre-tertiary granodiorite complex and is partially in the Paleozoic-mesoic metamorphic schists and Argillite. The vein on the Elk Heaven claim is in Granitic rock and is exposed by two adits.
 
The Lower level ore shoot is identified along the strike above the adit for several hundred feet where the vein pinches and swells from 2 foot to 4 feet wide. The Upper level consists of a minimum of 60,000 tons of ore and the Lower level consists of an additional minimum of 20,000 tons of ore.
 
Although the Elk Heaven is a Gold and Silver Mine, Associated Geologist; Lloyd E. Priczell BSc. assayed the Elk Heaven Mine and his results indicated 2.35 Oz per Ton of Platinum, 19 Oz per Ton of Palladium, 2.2 Oz of Iridium per Ton and 1.2 Oz per ton of Rhodium (Greater Western Resources Assays).  Based on these findings, the Company could be sitting on a world class deposit of Rhodium. During the summer of 2011, the Company will announce an extensive drilling program to prove up the findings and add considerable value to its initial valuation.
 
Inferred Asset Value
 
        Gold          Silver       Platinum      Palladium      Iridium        Rhodium
 
Upper level            2.4 Oz/T     57 Oz/T     2.35 Oz/T      19 Oz/T        2.2 Oz/T          1.2 Oz/T
(60,000 Tons)     144,000 Oz   3.4M Oz   141,000 Oz     1.1M Oz      132,000 Oz     72,000 Oz
Price (6/12/10)       $1500           $35.0         $1625            $698               $750             $2480
 
        Gold          Silver       Platinum      Palladium      Iridium        Rhodium
 
Lower level           2.4 Oz/T     57 Oz/T     2.35 Oz/T       19 Oz/T          2.2 Oz/T       1.2 Oz/T
(20,000 Tons)       48,000 Oz   1.1MOz     47,000 Oz     380,000 Oz     48,000 Oz     24,000 Oz
Price                       $1500          $35.0        $1625            $698                  $750           $2480
   Total Value        $288 M     $150 M
 
Analysis of Precious Metal Assets
 
Gold    $288 M   Less 25% = $216 M*   recoverable after milling.
Silver   $150 M   Less 25% = $112.5M*  recoverable after milling.
Total                                       $328.5 M *  Total Value of recoverable Gold and Silver after milling.
 
 
 
 
Lead Load Mine
 
Plunging to the West of the Elk Heaven Mine is a massive ore shoot containing Pyrite, Sphalerite, Galena, Chalcopyrite, Covellite, Bornite, Gold and Silver.  Golden Trunk Mines has a purchase contract in place to acquire this mine.  Samples from the 6 foot wide vein on the ore shoot were sampled on a drift and assayed by ASARCO (a Montana based assayer) prior to its shut down. The results averaged 0.26 Oz/Ton Gold and 3.27/Ton Silver. Further drilling and testing is necessary to prove up a huge inferred reserve of Rhodium. Engineers estimate there are 90,000 tons of processable mineralized ore. The inferred value of this mine indicates $1.2B in minerals. This mine will come on line in the first quarter of 2012 and will have a significant influence on our trading price.
 
The Cliffs Mine and the Flagstaff
 
These are really two mines with two different Lease/Purchase Agreements; however the mines leases sit adjacent to one another and have the same mineral characteristics and mining methodology. The Leases are on two sides of a small valley facing one another.  Eventually the mine shafts will meet up in the middle of the valley where hopefully based on engineering there are substantial Gold And Silver reserves indicated.  The Company will announce a post issue drilling plan to prove up the reserves in the valley.
 
The Cliffs Mine has a proven recoverable reserve of 134,000 Ozs of Gold and the Flagstaff has 198,000 Ozs of Gold. The Silver indicated is roughly ten times the amount of Gold.  The two mines will produce an average of 60 oz of Gold per day within 60 days of start-up increasing to 100 Ozs per day. The mines have an estimated life span of approximately 8-10 years. The mines have been assayed and have additional geological and historical data available. Production costs are estimated to be 25% of gold value per ounce.
 
The Flagstaff Mine consists of thirty-three (33) unpatented claims, twenty-five (25) being on BLM land and four (4) claims on private land. All private land is owned by the same party.  The Flagstaff Mine claims are located at approximately 3500 feet above sea level.  Baker City, Oregon, is the nearest town.
Further Flagstaff Mine exploration has discovered two additional gold bearing veins with reserves yet to be determined
 
 
Mining Operations
 
The Company intends to outsource the actual day to day mining operations necessary to harvest the mineral deposits with local experts familiar with mining in the area and will have onsite management to oversee its interests in operations and production. Fred Quimby Mining of Baker City, Oregon is the mining company the management team has selected to operate the Elk Heaven, Lead Load, Cliffs and Flagstaff Mines.  
 
 
Development of Business
The Executive Management of the Company has completed a full examination of the documents relating to the Mine leases. The Company has reviewed the assays relating to the leases.  Based on these investigations and on advice of the mining contractors, an appropriate business and development plan has been established with regard to mining equipment purchase, placement and operations. The Company will complete further drill testing and assaying to prove up what they believe is a world class deposit of Rhodium in the Elk Heaven and the Lead Load.
Plan of Attack
 
Initially the Company will start up the Flagstaff. June production is anticipated by the mine operator to be 20 - 25 Ozs per day or 600 - 900 Ozs a month after the initial startup is complete. 
 
On or about June the Company will go public on the Frankfort Stock Exchange (FSE). The process is straight forward with the Company purchasing a free trading shell (Newco) on the FSE. 
 
The Company is purchasing the shell and all of the services from an experienced exchange attorney. The shell is a UK PLC company with 99% ownership.  The PLC Company and the Shell dues are paid in for one year and it has no business record.  The Shell is completely free of any debts or claims and the stock is free trading with no restrictions.
 
The package includes a sponsor, underwriter, brokers and market-maker.  Additionally the Company will retain a public relations firm who will assist our staff with marketing presentations in Germany to groups of investors. The Company will be featured on German investor business television.
 
The Company will make an Initial Public Offering (IPO) setting the share value at approximately 1.0 1.5 Euros. It is the intent of the Company to authorize 500 million shares and issue 150 million shares.
 
The Company will place 5-8 million shares in the IPO.  The money raised will be used to open up the Flagstaff and the Elk Heaven mines for operations.
 
Public Company Flow
 
1.   Company goes public.  Funds used to open up Flagstaff and Elk Heaven.
 
2.   15 to 30 days after Issue date the Company announces production from the Flagstaff
      and vends in the Cliffs.
 
3.   Company announces a drilling program to prove up an indicated one million Ozs of Gold and Silver deposit laying in the valley between the Flagstaff and Cliffs mines.
 
4.   15 to 30 days after Issue date the Company announces a drilling program on the Elk Heaven to prove up an indicated world class deposit of Rhodium with an estimated value of 1.3B dollars as well as 0.9B deposit of Platinum, Palladium and Selenium
 
5.  30-45 days after the Public Listing, Company announces Gold production from the Cliffs mine      nearing 50-60 Ozs/ day.
 
6.   60 days after IPO, Company announces purchase of the Lead Load mine which is located next to the Elk Heaven.  The Lead Load engineering indicates larger deposits of minerals that the Elk Heaven. 
 
7.   120 days after IPO, Company announces a drilling program to prove up the minerals indicated in the Lead Load Mine.
 
8.   120 days after the IPO, Company announces production from the Elk Heaven, Cliffs and Flagstaff totaling 100 plus ounces of Gold per day.
 
9.  180 days after IPO, Company announces the drill testing program at Elk Heaven has proved up an indicated world class Rhodium deposit. The Company announces Gold production of 120 Ozs per day.
 
10.   270 days after IPO, Company announces production from the Golconda.
 
11.   360 days after IPO. Company announces it is now producing Gold from four Mines during 2011 those being the Cliffs, the Flagstaff, the Elk Heaven, and the Golconda.  Monthly production is estimated to be 180 Ozs / day, 5,400 Ozs /month of Gold plus concentrates. Total value of Gold at 5,400/month x 8 months x $1,380 less 30% production costs = $41.7 Million. * Average production should exceed 8 months.
 
10.   Given; Net revenues of $47.1 Million it is conceivable to get a 5 to 7 times earnings which would put the Companies stock trading value from 5 to 7 Euros.
 
Company Management
Mr. William W. Wells   Chairman of the Board
Mr. Wells (Bill) of Sumpter, Oregon has over fifty-nine (59) years working in the Natural Resource Industry, thirty (30) years of that being directly involved in the development of Gold, Silver and Mineralized mining projects. His knowledge of the industry is invaluable to the Board and to operations.  Mr. Wells knows the Elk Heaven and Lead Lode mines in every detail and when asked about the mining history of the area can provide vast knowledge and experience.
Mr. David Kirk   President, CEO   Board Member
Mr. Kirk is a Founding Investor of the Company. Mr. Kirk has spent most of his adult life in the field of Business Development. He was involved with Mayor Tom Bradley in the Office of Events and Entertainment in Los Angles, California. He was partnered with Bunker Hunt in a massive timber, sawmill, creosote plant project in Mindanao, Philippines.  Mr. Kirk founded the Noahs Ark Foundation, a California non-profit for the preservation Endangered and Threatened Species, DNA and Genomes using liquid nitrogen. He donated this company to Texas A & M University in 1999. Mr. Kirk has gained a sound knowledge in the mining industry and provides a vision for the Company. He anticipates exponential results with the mining operation.
Mr. Brent Powell      Sr. Vice President     Board Member
Mr. Powell is an initial Investor in the Company and brings many years of extensive experience in heavy equipment acquisition and operation.  Mr. Powell sold his large tracts of farm land and export business where he produced pelletized feed for shipment to Japan.  This business made him knowledgeable in production and export.  Mr. Powell will contribute his time and resources to the Company by monitoring the equipment management and maintenance as well as assisting in negotiating contracts to sell Concentrates to China and other parts of the world.
Mr. Terry B. Massey,   Sr. Vice President of Business Development   Board Member
Mr. Massey is responsible for components of the sales and marketing efforts of the company. During the last 28 years he has been involved in various worldwide marketing efforts of high end resorts and service apartments. He served as Senior Vice President of Sales and Marketing for the Allegro Group, Santo Domingo, D.R., now operating under the flag of the Occidental Group of Madrid, Spain. He was instrumental in the formation of a sales and marketing program in Bangkok, Thailand that generated over $300M in service apartment sales. He is also is recognized as one of the top motivational, key note speakers in the industry. Mr. Massey is the media face of the company, producing multiple videos and seminars to enhance the marketing effort as well as strengthen the name recognition and credibility quotients of the company. Mr. Massey will lead the Companies Investor Marketing and Public Relations.
Short Term Objectives
The Company will raise the funds required to go public on the Frankfurt Stock Exchange by virtue of a placement of Bonds to qualified purchasers.  Commitments are in place to meet the minimums required to go public. Funds from the listing and sale of shares will be used to open and operate the Golden Trunk Mines.
Long Term Objectives
The Company will pursue growing mining operations on the Company leases.  By increasing the size of the processing plants and associated equipment, the Company can recover more Gold and Silver and increase annual revenues. Investors share in the revenues and increased production directly increases revenues giving shareholders a faster and larger return on their investment. The Company can add additional Mines at the appropriate time to insure continued product. Gold prices have increased an average of 10% each year for the past 10 years. If this trend continues the Company will take advantage of the increase in values which will directly influence Net Revenues...

This report was posted on Ripoff Report on 06/06/2011 07:09 PM and is a permanent record located here: https://www.ripoffreport.com/reports/golden-trunk-mines-llc/internet/golden-trunk-mines-llc-gregory-carrington-shares-scam-internet-737592. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
1Author
3Consumer
0Employee/Owner

#4 General Comment

Shareholder

AUTHOR: KAM - (Canada)

POSTED: Sunday, July 03, 2011

You state that Carrington is working hard to pay back both employees and shareholders. I am a significant shareholder and have not been contacted in anyway 9 months, even after literally begging for information and it is only through this report that I find out anything about his "intentions" to make good to select individuals.  As always, I am left wondering what is going on and if there is any hope for the future of my investment.

Is he now picking and choosing only certain individuals that he is going to make any effort to make right. Because of his lack of communication (which from my experience has always been the case since I have been a shareholder) I am left thinking that my money is lost and will have to look at other options to recover my money.

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#3 UPDATE EX-employee responds

Thank you for prooving my point. In refrerence to your proof...

AUTHOR: nicetryjerk - (United States of America)

POSTED: Thursday, June 16, 2011

So quoting what YOU posted, thinking that I have not read these documents before? Here it goes...

5. The OMs had numerous deficiencies (the Deficiencies) including, among others, the following:


(a) Several OMs misstated the name of the issuer.

(b) One of the OMs had no financial statements. Other OMs had inaccurate financial statements and did not state that they were unaudited.

(c) The OMs did not adequately disclose short-term and long-term objectives and the use of the offering proceeds or provided inaccurate information with respect to them.

(d) The OMs did not adequately disclose material agreements or provided inaccurate information with respect to them.

(e) The OMs were unclear as to whether the shares were being issued by the issuer, or were being distributed from the holdings of principal shareholders.

(f) The OMs did not accurately set out the shareholdings of directors, officers or principal shareholders, did not accurately set out the number of outstanding shares, or did not disclose prior sales of shares.

So in return the securities commission does its job of supervising anf found these errors so then... 

6. On January 25, 2008, the Executive Director ordered that all trading cease in the securities of WebNet Global Capital Partners Ltd. On June 25, 2008, the Executive Director ordered that all trading cease in the securities of each of the other WebNet Issuers. The cease trade orders remain in effect.

I follow my interests very well too. What I only see is that you are selfishly attempting to stop Dr. Carrington from ammending his mistakes and dragging between your feet, with your claims, the possible recovery of all the current Webnet investors' money and paying off the balance of the former employees salaries. ME.

Go whine somewhere else.

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#2 Author of original report

Backing Up my Claims Where is your Proof?

AUTHOR: webnetminescam - (United States of America)

POSTED: Tuesday, June 14, 2011

Nice try yourself Jerk-you don't have documentation for your claims that stealing investors money was a simple mistake in paperwork. Nor do you rebute that  the Presdient of Golden Trunk Mines is connected with Greg Carrington and has been working with him under the Webnet scam as well! 

***I spoke with a lawyer who pointed out the documents Greg Carrington is sending ask that you deposit the $ into A PERSONAL BANK ACCOUNT! He says he is an "active trustee" but you are sending the money directly to him. AS he says on the paperwork provided to investors.
 
Dr. Gregory C Carrington
As Temporary Trustee Agent for the <-----------
Buena Suerte Family Trust (BVI)
GOLDEN TRUNK MINES, LLC

 a trying to protect people from loosing more money, I have no personal gain other than being able to sleep at night knowing I tried to warn people before they deposited money into Greg's account.

As a forer employeewere you one of the people who were laid off with no notice after Webnet didn't fund the payroll and empoyees ended up working for almost a month before Greg admitted the company didn't have any money? Not only were investors cheated out of their money, but employees were too.

ou speak of eveidence but don't provide anything. I have backed up my claims showing news articles, documents from Greg and pointed out the same key players are associated with this deal as they were in the Webnet deal. As for me being a vilian, I point the finger back at you-you need to look into this deal a little harder if you havent seen anything wrong with it. The wire transfer alone is enough to cause major concerns!  


AS far as his conviction, there are several more articles quoting FRAUD not missing paperwork.
 Former CEO banned for 20 years for illegal distributions

Vancouver The British Columbia Securities Commission has banned an Abbotsford man for 20 years who admitted he was responsible for four related companies that made illegal distributions to investors in Canada and the U.S.
Gregory Clark Carrington, an Abbotsford, B.C. resident, was the chief executive officer and president of WebNet Converged Wireless Networks Ltd., WebNet Broadcasting Corporation, WebNet Global Capital Partners Ltd., and 3dh Capital Ltd.
In the BCSC settlement agreement, Carrington, 64, admitted that he authorized, permitted or acquiesced in the four companies contraventions of B.C. securities laws when they distributed securities under offering memoranda (OMs) that contained numerous deficiencies. The OMs were misleading and not in the required form. 

http://www.bcsc.bc.ca/release.aspx?id=

Gregory Clark Carrington
Securities Act, RSBC 1996, c. 418 (the Act)

Background
1 The Executive Director of the British Columbia Securities Commission has entered into a settlement agreement with Gregory Clark Carrington (Carrington), a copy of which is attached as Schedule A.

Order
2 The Executive Director, considering it to be in the public interest to do so, orders (the Order) that:


1. under section 161(1)(b) of the Act, Carrington cease trading in securities,
2. under section 161(1)(d)(i) and (ii) of the Act, Carrington resign any position he holds as a director or officer of an issuer and is prohibited from becoming or acting as a director or officer of any issuer,
3. under section 161(1)(d)(iv) of the Act, Carrington is prohibited from acting in a management or consultative capacity in connection with activities in the securities market, and
4. under section 161(1)(d)(v) of the Act, Carrington is prohibited from engaging in investor relations activities for a period of 20 years from the date of the Order
Under the deficient OMs the issuers raised about $8.7 million from 916 investors in various provinces, including B.C., and the U. S.
The BCSC cease traded WebNet Global Capital Partners on Jan. 25, 2008, and the other three companies on June 25, 2008. The orders remain in effect.
Under the settlement agreement, Carrington is prohibited, for 20 years, from trading in securities, and from becoming or acting as a director or officer of any issuer. CARRINGTON IS PROHIBITED FOR 20 YEARS FROM ACTING AS A MANAGE OR CONSULTANT IN CONNECTION WITH ACTIVITIES IN THE SECURITIES MARKET.  (What is he doing as a temorary Trustee?)

DIRECT FROM PAPERWORK:
Dr. Gregory C Carrington
As Temporary Trustee Agent for the
Buena Suerte Family Trust (BVI)

 Carrington is also prohibited, for 20 years, from acting as a manager or consultant in connection with activities in the securities market, and from engaging in investor relations.
Carringtons liabilities significantly exceed his assets. He has no reasonable prospect of being able to pay the $100,000 that would have been issued in the public interest.
The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province.
You may view the settlement agreement on our website www.bcsc.bc.ca by typing in the search box, Gregory Clark Carrington or 2011 BCSECCOM 69. If you have questions, contact Ken Gracey, media relations, 604-899-6577.

Settlement Agreement
Gregory Clark Carrington
Securities Act, RSBC 1996, c. 418


1 The Executive Director of the British Columbia Securities Commission (the Executive Director) and Gregory Clark Carrington (Carrington) agree as follows:

Agreed Statement of Facts
Background1. Carrington resides in Abbotsford, British Columbia. He was at all material times the President, Chief Executive Officer, and Chairman of the Board of Directors of the following issuers:

(a) WebNet Converged Wireless Networks Ltd.,

(b) WebNet Broadcasting Corporation,

(c) WebNet Global Capital Partners Ltd., and

(d) 3dh Capital Ltd.
(collectively, the WebNet Issuers)
2. From about July 2007 to June 2008, the WebNet Issuers distributed securities under offering memoranda dated July 13, 2007, July 16, 2007, September 7, 2007, November 15, 2007 and January 15, 2008 (the OMs).

3. The WebNet Issuers were incorporated in British Columbia, and shared the same head office address in Abbotsford, British Columbia.

4. Under the OMs, the WebNet Issuers raised about $8.74 million from 916 investors. The investors resided in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and the United States.

5. The OMs had numerous deficiencies (the Deficiencies) including, among others, the following:


(a) Several OMs misstated the name of the issuer.

(b) One of the OMs had no financial statements. Other OMs had inaccurate financial statements and did not state that they were unaudited.

(c) The OMs did not adequately disclose short-term and long-term objectives and the use of the offering proceeds or provided inaccurate information with respect to them.

(d) The OMs did not adequately disclose material agreements or provided inaccurate information with respect to them.

(e) The OMs were unclear as to whether the shares were being issued by the issuer, or were being distributed from the holdings of principal shareholders.

(f) The OMs did not accurately set out the shareholdings of directors, officers or principal shareholders, did not accurately set out the number of outstanding shares, or did not disclose prior sales of shares.

6. On January 25, 2008, the Executive Director ordered that all trading cease in the securities of WebNet Global Capital Partners Ltd. On June 25, 2008, the Executive Director ordered that all trading cease in the securities of each of the other WebNet Issuers. The cease trade orders remain in effect.

Misconduct
7. The OMs were not in the form required by National Instrument 45-106 and, consequently, the WebNet Issuers contravened sections 34(1)(a) and 61(1) of the Act.

8. As a result of the Deficiencies, the OMs were misleading. By providing misleading information in records required to be filed, the WebNet Issuers contravened section 168.1(1)(b) of the Act. 

9. Carrington, as an officer and director of the WebNet Issuers, authorized, permitted or acquiesced in their contraventions of sections 34(1)(a), 61(1)  and 168.1(1)(b) of the Act. Carrington therefore also contravened the same provisions under section 168.2(1) of the Act.

Inability to Pay

10. Carringtons liabilities significantly exceed his assets. He is 64 years old, and is retired. Carrington is subject to numerous outstanding judgments and debts. He is also subject to orders issued under the Social Service Tax Act, the Employment Standards Act and the Canada Labour Code requiring that he pay the WebNet Issuers liability for unpaid taxes and wages.

11. Carrington has no reasonable prospect of being able to pay the fine of $100,000 that would otherwise be appropriate in the public interest for the misconduct described in this Settlement Agreement.
Order
2 The Executive Director will issue an order (the Order) that:

1. under section 161(1)(b) of the Act, Carrington cease trading in securities,

2. under section 161(1)(d)(i) and (ii) of the Act, Carrington resign any position he holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer,

3. under section 161(1)(d)(iv) of the Act, Carrington be prohibited from acting in a management or consultative capacity in connection with activities in the securities market, and

4. under section 161(1)(d)(v) of the Act, Carrington be prohibited from engaging in investor relations activities

for a period of 20 years from the date of the Order.

Consent to Reciprocal Orders
3 Any securities regulator in Canada may rely on the facts admitted in this Settlement Agreement solely for the purpose of making an order similar to the one contemplated above. 
Waiver
4 Carrington waives any right that he may have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to, in connection with, or incidental to this settlement.

Counterpart
5 This Settlement Agreement may be executed in counterpart or by facsimile execution and all such counterparts of executed copies or faxed copies shall be read or construed together as if they formed one originally executed document.

6 February 4, 2011

http://www.bcsc.bc.ca/comdoc.nsf/comdoc.nsf/webpolicies/E42CBF341AF3026C88257834005F16AD?OpenDocument

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#1 UPDATE EX-employee responds

Setting the record straight for Webnet

AUTHOR: nicetryjerk - (United States of America)

POSTED: Monday, June 13, 2011

To whomever in Las Vegas that is starting these allegations, he clearly has no inside information as to what Greg Carrington is really trying to do and is either pursuing him for personal gain or position in whatever project he is currently involved in.

Greg Carrington has stuck to protecting his investors that bought into Webnet and any of the other named companies. 

He is not a member of the board nor a title holder into any position in this Golden Trunk Mines company.  He has provided counsel to some of their members who are most grateful since it gave them the better direction as to how to bring it about. Anyway, since he is not involved in directing that company in any way, I think that is that as far as that topic goes. 

As a former employee of Webnet and close to the operations, I can clearly say that he was not banned by the Securities Commission in Canada for stealing, nor for fraud. That would have meant jail time and other charges.  He was banned because within the operation of the company which he was responsible for, the proper company fillings where not either done properly or timely thus incurring in the violation of the requirements from the Securities Commission. He holds himself responsible for that and is not going to pass the buck to anyone.

He has since worked hard to return the investors monies back by working directly with each and everyone who is a member of webnet shares.  The distribution of these emails which he sends privately to each member of Webnet are not approved for resdistribution thus violating the same by posting its contents in this blog.

He is not filling bankrupcy and bailing on every investor out there.  He is hanging tough to salvage their hard earned money.  He will continue to work in other ventures to sustain himself and his wife and also continue to support the rest of his family.

To attempt to portray him as a vilian for someone's personal gain is calluos and not worthy or being heard in any place.

This Golden Trunk Mines is a project which is legitimate and as far as I have seen the plans for the mines and geological reports, they are true and exist.  The GTM belongs to other people so any involvement of Dr. Carrington in it may be as a customer, or aquaintance to them, including the original person who initiated this topic.
 
To whomever* originated this topic:

If you were affected directly in any way by Dr. Greg Carrington's operations, there are ways to proceed. With evidence and truth and honesty.  If you can't provide truth with evidence other than assumption, then I request of this site to remove such posting and discontinue as you are interfering with those who work hard to earn a living and have integrity to hold their name up in public. 

Thank you.

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