Nucon-RF in cahoots with notorious stock fraudster. Citron Exposes the Truth.

,

After the past two reports, it is no secret to anyone that Citron is skeptical of Nucon-RF (NNRF.pk) and their many bold claims.  Lets just follow the money.

We noticed a website called http://www.icecoldstocks.net  that has been extremely critical of our stories on Nucon-RF.   What we found most interesting is the disclosure on Icecoldstocks:

“The Iceman owns 1 million shares of restricted stock.”

1 million shares is 10 times more stock than the chairman of the company owns!

It is the opinion of Citron that if a promoter owns 1 million shares of a $7 stock, he is more than a promoter but also part of the “team”. 

SO WHO IS THE ICEMAN???   (Drumroll Please….)

The Iceman is none other than Barry K. Davis aka Barry David aka Barry Sutz aka The Iceman. Mr. Davis is a convicted stock felon with a track record of swindles stretching back over the last thirty years. Barrons Magazine has labeled Mr. Davis as a “penny stock-flim flam artist”.

Below are the two articles from Barron’s that say it all:
Barry Davis
Barry Davis 2

“Making a stock go up that you believe deserves to go up, in my mind, wasn’t serious. However, it is criminal. And the fact is, that’s why I pleaded guilty…”

Mr. Davis pled guilty to:

Wire Fraud
Securities Fraud
Conspiracy to Commit Mail Fraud

Sutz’s Timeline:

  • 1971- Permanently barred by the SEC from the investment  business, due to multiple regulation violations at his brokerage firm Sutz & Ross.
  • 1975 – Insurance license revoked at firm Sutz & Sutz, regulators citing hundreds of complaints.
  • 1989 – Paid state of New Jersey $50,000 and consented to a permanent bar on being an investment advisor. This agreement also banned him from participating in any telephone tip or hotline service.
  • 1991 – Pleaded guilty to 3 counts of wire fraud, plus one each securities fraud and conspiracy.  Cooperated with government in other prosecutions.
Conclusion

It is the opinion of Citron that no legitimate company would compensate Barry K Davis with “unregistered” stock for stock promotion services.  If they were going to engage a website to promote their stock, the certainly would not give out 1 million shares for such services.

We will enjoy watching the rest of the story unfold.  We believe the shareholders will most certainly lose their money while Barry K Davis maintains his reputation as the “penny stock flim-flam artist”.