View Single Post
  #33  
Old July 9th 07, 08:44 PM posted to rec.aviation.homebuilt,rec.aviation.piloting
Paul Tomblin
external usenet poster
 
Posts: 690
Default FWIW, Moller Again ?

In a previous article, Anthony W said:
I've known for a long time that the Skycar was a scam but I got bored
yesterday and I decided to look over his website. It's amazing he
hasn't been busted for fraud. I first heard about this thing in 95 and
12 years later he has no new news on making it fly. The videos make it
look like he has a working prototype. The feds should bust him for
selling stock for something that will never work.


Read the Wikipedia entry:
http://en.wikipedia.org/wiki/Moller_Skycar

He already settled with the SEC after they sued him in 2003 for civil
fraud for making unsubstaniated claims about the performance of the
Skycar. He agreed to a permanent injunction and a $50,000 fine.

http://www.sec.gov/litigation/litreleases/lr17987.htm
Moller, age 64, the company's founder, chief executive office and
president, made false and misleading statements about the company's
imminent listing on the NYSE and the Nasdaq Stock Market, the projected
value of company shares after such listing, and the prospect for Skycar
sales and revenue. In September 2001, the company filed a fraudulent
registration statement with the Commission that exaggerated the true scope
of patents the company held for the Skycar. During the Commission's
investigation, the company belatedly cooperated with the staff in an
attempt to bring it into compliance with the securities laws and to
resolve all outstanding enforcement issues.

--
Paul Tomblin http://blog.xcski.com/
I'm fairly sure that if they took all the porn off the Net, there'd only
be one website left, and it would be called "bring-back-the-porn dot com".
-- Perry Cox, _Scrubs_