Wednesday, October 26, 2005

Is Bush Ross co-founder Jere Ross (aka Jeremy Ross) a crook?

http://www.junkfax.org/fax/profiles/wsp/BushRoss.htm

Now I’ve heard of lawyers paying settlement funds through their bank account for their clients. But frankly, I’ve never heard of a law firm paying hundreds of thousands of dollars for fraudulent press releases, TV ad campaigns promoting a stock “pump and dump” website, junk faxes to be sent hyping worthless stocks, and more and then accepting millions of dollars in profits from the scam into the same account. That’s pretty amazing.

And the same lawyer approves a fraudulent press release that touts the stock and then then writes a press release on behalf of the company being touted totally disclaiming the fraudulent one he just approved just a few days earlier?

My attorney sent Ross’ attorney an e-mail with the following offer:

if your client is indeed innocent (meaning we would be wasting our time should we appeal or pursue him in Florida), why won’t he answer a couple questions?  For example, his refusal to tell us why the payments were going to Cuadra (a non-client, so there is no atty-client privilege issue) simply raises the suspicions.

If we come up with a reasonable explanation for those payments and maybe a couple other issues, Kirsch would be much more inclined to drop his case.  Regardless, I don’t see what your client has to lose in giving us information that could help us understand why he wasn’t behind this.

Ross’ attorney sent the following reply to my attorney:

And, as you might guess, we think the claims are meritless and frivolous. This has been a complete waste of time. My prior admonition stands.

In short, they claim they are innocent, but refuse to provide any explanation whatsoever for the evidence. Their complete unwillingness to supply any explanation that fits the facts makes their argument completely unconvincing.

...

Exactly.  It sure looks to me like they are CROOKS.  I don’t understand why the SEC doesn’t prosecute them.  I’ve gotten so much e-mail from people who lost investments they could not afford to lose.

The trouble is, they’re NOT rich and can’t afford to hire a lawyer and even with lots of cash it’s VERY difficult to find one who will sue another lawyer. 

The MILLION $$$ question is not whether Ross is guilty. 

WHO was paid off?

That’s what *I* want to know. 

There is no question that the government has no interest in pursuing most crooks (see Wellstone—WLSF) and the only logical explanation is that the “regulators” mostly regulate the flow of bribes in their own pockets.

Of course I’ll update if either Mr. Ross or the SEC submit a response - preferably they’ll post their comments right here.

URL e-mailed to and Ms. Kerry McGovern

11/23/05 update:  no response was received from Ross or the SEC - guilty as charged.