James Fontanetta

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Insider Talking: July 12, 2007

July 12, 2007
James Fontanetta, a former director of Cayman Islands-based SEGOES Services Ltd., f.k.a. SEGOES Securities Ltd., has been so helpful to the company's liquidators that they have agreed to apply to set aside a default judgment that they obtained against him at the Grand Court of the Cayman Islands; and Regulatory warnings around the world.

Ex-SEGOES director James Fontanetta settles with liquidators

November 28, 2006
A former director of a fraudulently operated, offshore stock broker has agreed to pay US$74,000 - purportedly 75% of his total assets - to settle a civil complaint brought by the firm's liquidators.As part of his settlement agreement, James Fontanetta

SEGOES liquidators obtain US$3.9 m judgment against director

September 25, 2006
The liquidators of offshore stockbroker SEGOES Services Ltd. have obtained a court judgment for US$3.9 million against the firm's principal director, John Kaweske, Jr. “This decision brings the total amount of judgments against Mr. Kaweske and related parties, including his

SEGOES liquidators run up $1.49 m deficit in first 8 months

March 6, 2006
The liquidators of fraudulently-operated offshore stock-broker SEGOES Services Ltd. ran up a $1.49 million deficit during their first eight months in charge of the company.That was the figure that leapt out of the Third Interim Report to Customers and Creditors, dated January 27, 2006, by liquidators Kenneth Krys and Christopher Stride.

SEGOES liquidators seek stay of Florida lawsuit

December 5, 2005
The liquidators of an offshore broker have applied to stay a civil lawsuit that has been filed in the United States against the firm's former President.A hearing on the motion by the liquidators of Cayman Islands-based SEGOES Services Ltd. has been scheduled for December 8, 2005 at the U. S. Bankruptcy Court for the Southern District of Florida.

Cayman court enters default judgment against SEGOES director

October 19, 2005
A default judgment has been entered at the Grand Court of the Cayman Islands against one of the directors of failed offshore stock-broker SEGOES Services Ltd., according to the firm's liquidators.The judgment is against James Fontanetta “for his part in the failure to implement proper systems and controls and allowing assets of the Company to be misappropriated”, stated a press release issued by Kenneth Krys and Christopher Stride on October 13, 2005. “The amount of the judgment has not yet been quantified.

New estimate puts SEGOES insolvency at $15 m to $25 m

September 4, 2005
The latest estimate by the liquidators of offshore securities broker SEGOES Services Ltd. puts the firm's insolvency at between US$15 million and US$25 million.The figure was included in a civil lawsuit filed against former SEGOES directors and officers John Kaweske and James Fontanetta at the Grand Court of the Cayman Islands on August 17, 2005.

SEGOES owner tried to breach asset freeze, say liquidators

August 12, 2005
The owner of a failed offshore securities broker that apparently defrauded clients out of millions of dollars has attempted to breach an asset freeze order, it has been claimed.Details of the allegation against John Kaweske Jr. are contained in the first interim report of the joint official liquidators of SEGOES Services Ltd. to customers and creditors, which is dated July 7, 2005 but only publicly released on August 3.

SEGOES insolvency may exceed US$15 m

June 5, 2005
The amount of client funds misappropriated from offshore stock-broker SEGOES Services Ltd. may exceed US$15 million, according to the first interim report to creditors. That is how much was transferred from a group account "to a beneficiary as yet unidentified" on November 17, 2004, stated Kenneth Krys and Christopher Stride, whose status changed from joint provisional liquidators to joint liquidators on May 20 after it was determined the SEGOES group could not continue as a going concern and should be wound-up.

SEGOES Services Ltd.

May 17, 2005
Notice by Cayman Islands Monetary Authority that SEGOES Services Ltd., f.k.a. SEGOES Securities Ltd., has gone into liquidation.

SEGOES owner accuses former officers and stock promoter of fraud

May 12, 2005
The principal owner of a failed offshore stock broker known as SEGOES has filed a suspicious activity report against two of its former officers and a penny stock promoter.John Kaweske, a U. S. national with Caymanian status, supplied information to

SEGOES goes into provisional liquidation amid allegations of fraud

April 30, 2005
Offshore stock-broker SEGOES Services Ltd. has gone out of business amid a police investigation in Cayman and concerns that clients have been defrauded of millions of dollars.The firm, formerly known as SEGOES Securities Ltd., went into provisional liquidation by order of the Grand Court of the Cayman Islands on April 29 following a petition the same day by two clients in British Columbia, Canada with a claim totaling US$400,000.

Cayman Islands regulator seeks information from SEGOES Securities

December 31, 2004
A regulator in the Cayman Islands has asked a court to order SEGOES Securities Ltd. to provide information about its business activities after the firm would not do so voluntarily. The Cayman Islands Monetary Authority applied for the order at the Grand Court of the Cayman Islands on December 16, 2004, with a hearing held in chambers before Justice Alex Henderson on December 22 and continued to a future date. CIMA was represented by law firm Maples and Calder and SEGOES by attorney Clyde Allen.

Cayman on-line trader expands to Canadian stock markets

October 31, 2000
Cayman-based SEGOES Securities Ltd. has announced plans to offer on-line trading for stocks listed on the Toronto Stock Exchange and the Canadian Venture Exchange. SEGOES, which has a web-site at www.segoes.com.ky, will also provide real-time quotes from these exchanges.