LAS VEGAS, NV, Jun 20 (MARKET WIRE) —
BioTech Medics, Inc. (PINKSHEETS: BMCS) On June 9, 2010 BioTech announced
in compliance of SEC “material event” regulations that a Federal Grand
Jury had criminally indicted 10 persons (none of whom are current board
members) regarding alleged illegal stock manipulation, theft, forgery of
shares and crimes.
The Company quoted from the indictment in “Count Ten” and “Count Eleven”
that the government is seeking individual disgorgement monetary sums
regarding, “to wit: stock of BioTech Medics, Inc.”
The Company quoted the indictment “Forfeiture Allegation Ten” and
“Forfeiture Allegation Eleven” sums sought and aggregated the sums
regarding the “in personam criminal forfeiture.” The Company also
properly stated regarding those indicted that: “All are considered
innocent until adjudged guilty.”
Due to the fact the indictment is ambiguous and not clear as to how those
sums were allocated the Company aggregated the two separate and distinct
forfeiture quoted sums specifying “BioTech.” Due to the fact the
indictment is also seeking RICO (Racketeering) forfeiture, the forfeiture
sums may be subject to treble damages (but again this is not clear).
So to avoid any confusion and/or misunderstanding of the prior press
release the Company would like to restate and clarify the previous press
release and opinion expressed.
Any quote from the indictment of any sums relating to the aggregate of
the alleged forfeiture sums should not be confused and/or misunderstood
and/or considered to reflect in any way whatsoever regarding any past,
present and/or future value and/or benefit to BioTech and/or its
shareholders by the grand jury. Only a judge and jury subsequent to
deliberating at trial on all of the evidence presented will a
determination be made. That also will not be the final resolve.
According to statements published at an April 2010 Asset Forfeiture
Conference held in Florida at which Richard Weber, Chief of the Asset
Forfeiture & Money Laundering Section of the U.S. Department of Justice
was a speaker, a brochure to the event put in perspective challenges
facing these types of enforcement actions: “Every day in the United
States, criminals earn $1.4 billion from their crimes. Of the $500
billion they earn…” (steal) “…annually, they lose only $4 billion to
law enforcement forfeitures. If you’re a criminal you run less than a 1%
chance that your criminal wealth will be confiscated.”
Since the indictments BMCS is still experiencing shorting and illegal
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