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Scam: #1843

Scam Alert


  • Posted By: Anonymous
  • Submitted: 01/07/2011
  • Severity: 10

Kenneth J. Yonika

Pink Sheet / Penny Stock Scam

San Diego, California

This low life CPA is a class act scammer. He is not only broke but constantly scams investors for his next meal. His method of operation works like this: He will borrow $300 then pay it back. A week later he will borrow as he calls “a quick 5k” while he waits for some money to clear his account from stock he is selling or sold. Then a couple days later he will tell you the stock for one of the companies he is working for will shoot up from its penny or sub-penny status to $15 dollars after the 10k is going to be filed. His story gets better as he tells you he is working the books for a public company and he is moving losses and will show more profit than the company actually produced. He claims he will hide the losses until the next quarter so you can sell all the stock. The deal is he keeps the 5k plus you give him another 20k on the spot then 10% of the backend. Of course the stock never moves and you are stuck with 100k of worthless stock because the stock is traded behind the scenes this way you can get the best deal. The minimum buy in is 50k and is always in 50k increments. He always claims to talking people into selling their stock or he will sell you some of his stock because of the favor. You give them the 50k for stock and great thanks for letting you into the family as you are now going to get rich with them. He has pulled this scam several times. He brags how he pays no state or federal taxes and has offshore accounts to hide his wealth. If you would like to become a tax savvy investor he will set up the offshore account for an additional 5k if you want to buy the stock as a foreign investor with $0 tax liability. Then you can use your ATM card to pull money out of the ATM here in the USA $2000 per transaction, with unlimited transactions per day. Of course I asked him why did not use his ATM card he claimed his magnetic strip was worn out. I did actually see a card but we were drinking. In the end I personally lost $140,000.00. So far 2 other people who are looking for him (as he magically disappears) have lost upwards of $500,000.00. I may be licking my wounds but Ken you are going to Prison. If not for ripping us off then for tax evasion. We will see too it. Rick


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  • kcapri
  • Submitted: 02/08/2011
Im currently doing a deal with this guy, i googled his name to get the correct spelling and saw your posting. He will be in my bosses office this week. What exactly did he do to you and should i be worried for my employer? I can be reached at , did he just flee after he took your money? Are you taking legal actions?

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