United American Ventures, LLC UAV Beware of the Snake Oil Salesman Irvine, California

As an investor in UAV I have come to know Mr. Hollowell not only on a business level but as someone I proudly call my friend! Honest to a fault, I find it appalling these smear tactics by disgruntled ex-employess and over zealous  SEC investigators grasping for career straws!!

If you want to KNOW THE TRUTH about the man and his mission to save millions of lives, Then take the time to read this investigated report   that address each lie and accusation  and SETS THE RECORD STRAIGHT!

www.uav-hollowell.org 

SEC sues Irvine firm for $10 million bond scheme

June 14th, 2010, 3:20 pm

Companies in Irvine and New Mexico settled charges that they defrauded investors who bought $10 million in so-called convertible bonds, the Securities and Exchange Commission said Monday. The SEC said United American Ventures LLC of Irvine guaranteed investors a 10 percent up-front bonus plus a 25 percent annual return on their money. In reality, the SEC charged, the company never made a profit. It plowed investors funds into exorbitant salaries and other expenses. In addition to the company, the commission sued co-founders Philip Lee David Jack Thomas, 74, of Newport Beach, and Eric J. Hollowell, 37, of Irvine. It also sued the companys  promoter Anthony J. Oliva, 54, of Placitas, N.M.; and Olivas company, Integra Investment Group LLC.

United American Ventures sold its bonds in $25,000 blocks. It claimed to sell only to accredited investors people with a net worth of at least $1 million plus at least $200,000 in annual income. In fact, the SEC said, Integra, the promoter, used websites and other means to lure unsophisticated investors.

One investor, a retired Kansas teacher, plowed a $64,000 lump-sum pension payment into the scheme.

Thomas who also goes by the names P. David Thomas, David J. Thomas and Dave Thomas was banned by a California court in 2001 from participating in securities sales. That order grew out of an enforcement action by the state Department of Corporations. Sales materials for the bonds did not mention the ban on Thomas or a 2009 lawsuit against him for securities fraud, the SEC said. Nor did sales materials mention that 12 cents of every invested dollar went to the promoter, Integra. The defendants settled without admitting or denying the charges. The SEC will seek a court order forcing them to disgorge their ill-gotten gains. The SEC will also seek money from a second Irvine company controlled by Thomas, All American Capital Corp.

Reports in the Orange County Register   http://ocbiz.ocregister.com/2010/06/14/sec-sues-irvine-firm-for-10-million-bond-scheme/19897/   

http://www.ocregister.com/news/thomas-78112-ocprint-sec-company.html

SEC filing and litigation release  http://sec.gov/litigation/complaints/2010/comp21556.pdf

http://www.sec.gov/litigation/litreleases/2010/lr21556.htm

I am an investor in UAV. I spend a couple of months investigating UAV before I put my money into it. I also went physically to UAV to verify what I had learned and had been told. The investments are real and can help literally millions of people with the medical products that they are developing.  UAV is experiencing hard times brought about by outside forces. I feel that my investment is still viable due to Eric Hollowell. UAV has continued in the face of overwhelming odds due to Eric's efforts. However, my investment will be long term. Eric has not made any of the claims that the original report states and has corrected any problems found as soon as they were made known to him. Eric will ultimately succeed and I will get a return on my investment. Eric can not accept anything less.

I would like to take this opportunity  to clear up some misinformation that is being disseminated, unjustly,  on this forum

regarding UAV operating as a "Ponzi" scheme. As an investor and equity holder I can state that this not at all the case,

they were investigated  by the authorities , with nothing to hide and providing an open book atmosphere , the authorities

were satisfied no ponzi scheme was in effect.

Mr. Hollowell is working hard to get through all this and has the investors best interest  at stake here, as well as his own personal

reputation. All this negative energy being put forth  just ends up hurting everyone, and in the end, we all lose!

Exaggeration - From Wikipedia, the free encyclopedia

Exaggeration is a representation of something in an excessive manner. Words or expressions associated with exaggeration include:

hyperbole

laying it on thick

magnification

maximization

overreaction

overstating

stretching the truth

Contexts of exaggeration include:

boasting and bragging by arrogant or manipulative people.

inflated praise in the form of flattery and puffery

a type of deception.

amplifying achievements, obstacles and problems to seek attention.

magnifying small injuries or discomforts as an excuse to avoid responsibilities.

a form of cognitive distortion called magnification.

overemphasizing one issue and downplaying (minimizing) the other to divert attention from it- see also spin.

inflation of the difficulty of achieving a goal after attaining it, possibly to improve self-esteem.

a "grandiose sense of self-importance observed in narcissists.

"self-dramatization, theatricality, and exaggerated expression of emotion" observed in those with those with histrionic personality disorder [ and other Cluster B personality disorders.

associated with depressive, neurotic or paranoid behavior - focusing on the worst possible outcome, however unlikely, or thinking that a situation is unbearable or impossible when it is really just uncomfortable.

observed in abusers or manipulators to amplify or fabricate faults of the victim as a component of victim blaming - see also hypercriticism.

THE RESPONSE TO ALL COMPLAINTS REGARDING ERIC HOLLOWELL AND UNITED AMERICAN VENTURES LLC:

THE COMPLIMENTS DEPARTMENT IS OPEN.  THE COMPLAINTS DEPARTMENT IS CLOSED PERMANENTLY.  THE STANDARD RESPONSE LETTER IS A SEE'S CHOCOLATES GIFT CERTIFICATE.  THE REIMBURSEMENTS AND SPECIAL ORDERS DEPARTMENT IS CLOSED FOR REMODELING.  WHEN THE REMODELING IS COMPLETE; YOU WILL BE NOTIFIED.  THE SECURITY DEPARTMENTS OF ALL LOCATIONS HAVE BEEN ALERTED AND WILL ESCORT DOWN ALL AIRPLANES APPROACHING OR ENTERING RESTRICTED AIR SPACE.  ALL BORDERS ARE CLOSED.  THE INTERNET IS ALSO PROTECTED AIR SPACE. 

DO NOT CALL US; WE WILL CALL YOU.  THIS RESPONSE IS COMPLETE.  DO NOT DISTURB!  SIGNED,

THE NO NONSENSE MANAGER - THE ONE WHOM EVERYONE IS AFRAID OF AND FOR A VERY GOOD REASON. 

of Ripoff Report.

The SEC seized the bank accounts because it recognized United American Ventures as a Ponzi scheme.  A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity.

It's true that UAV was initially investigated because of an intermediary.  When they saw the enormous debt-to-equity ratio at UAV they stopped looking at the intermediary and concentrated on UAV.   

Since UAV has the money to pay an attorney to "prosecute an ex-employee", why don't you pay past-due wages to the employees?  Why have four people filed cases with EDD to receive their past-due wages?   

Eric, stop victimizing people.  I don't know how you can sleep at night.

 Multiple existing and prospective investors of ours have warned us of how they encountered an apparent effort by now-former employees to subvert the company.  Each of them consistently explained that the intent was to cause our downfall.  The intent would be to get a bargain on our primary assets partially via clandestine efforts to make untrue statements fall into the hands of influential parties.  Until these recent reports, I hadnt been aware of this endeavor, which was evidently started last year.  Upon investigation, I indeed found a variety of related documents, including falsifications made to our own attorneys, with explicit comments about the subversion, and documents with my signature forged.  I thought that those employees had discovered that our primary assets are effectively non-transferrable, and I hope that the current comments are not a perpetuation of that nightmare.  I am certain that some of the employees involved were innocent conduits, themselves unaware of the sinister objectives.

 There is a particular former employee who has made other spiteful misstatements.  I wish that he did not want to spend his time causing harm to me, as I do not for him.  At this point, one of our attorneys who knows him has determined that we apparently must take legal action against him as a matter of our responsibility to avert further harm to our investors.

We are legally curtailed from publicly explaining our stance on the SEC issue, which was prompted by an investigation into one of the intermediaries who referred investors to us.  The SEC enlightened us of several issues and deviations from our policies of which we were unfortunately not previously aware, and we are no longer associated with those parties who had violated our policies.  Although the situation has been horrific, I am not aware of a single investor who is hostile towards us, although many are certainly hostile towards those who primarily belie the matter.

 Our previous president had been involved in taking companies public, but we changed all of the publications after his resignation.  Although I have a diverse background in private equity and investment banking, I am not aware of any claim that I had taken any companies public personally.  I indeed led a company that designed an accounting software package that predated Peachtree, and it was a trailblazer in the concept of easy-to-use accounting software based on practical entries, designed to appeal to small businesses.  I have never been associated with the publisher of Peachtree, nor have I claimed such.  We have a modest staff, but we're not just comprised of an intern; we don't even have an intern.

 Yes, of more than ninety investors, one did invest in cash: a U.S. citizen who immigrated from a country where he had bad experiences in his childhood.  Due to financial confidentiality, we do not disclose private investor information, but I will acknowledge that this is a family who owns scores of acres in California, and, indeed, each member of the family has demonstrated their work ethics by at least occasionally working alongside employees at a vegetable stand that is located on one of the farms that they operate.  We personally got to know them and we developed strong moral respect for this good Christian family.  To avoid the potential for misperception by others, we took extraordinary measures for due diligence, including a third-party verification that all taxes had been properly paid and that the funds were clean and legitimate.  We immediately deposited all of the cash with full disclosure and cooperation with the bank.

 United American Ventures does not hide behind anonymous postings.  Anyone who wants factual, verifiable information is strongly encouraged to call UAV directly at 800-405-8111.