"The corruption of science is one of the biggest problems our world has ever faced; it may, indeed, bring about the extinction of the human race. That prospect scares me and it should scare you. But more than being scared, my heart has been broken by the realization that the best hope of the human race - Truth, beautiful Truth - has been savaged and spoiled by the very guardians of the temple: scientists themselves under the influence of a ramified network of mutual pathological conspiracies that are divorced entirely from the body of normal humanity." - Laura Knight-Jadczyk, The Dot Connector Magazine, Issue 14, P.1As many of our regular readers will know, Sott.net's sister publication, the Dot Connector Magazine, has been taking a cold hard look at the extent of the corruption of science over the past two issues. There is corruption in the way scientific papers must run the gauntlet of the peer review process; there is corruption in the way grant money is awarded to researchers; there is corruption in the way scientific breakthroughs are used by big business; and of course, there is corruption in the way awards are selectively given for ulterior motives. The following investigative report will shine a light on several of these areas of the Corruption of Science.
Several weeks ago, on the eve of the Siege of Toulouse, theoretical/mathematical physicist Arkadiusz Jadczyk was invited to attend an awards ceremony held at Université Paul Sabatier in Toulouse. The awards were organised and funded by an organisation called the 'Telesio-Galilei Academy of Science' (TGA) which was holding its fifth awards event, hosted in conjunction with one of Toulouse University Paul Sabatier's own awards events and a pure scientific workshop.
This year, the Telesio-Galilei Academy of Science honoured the 'Center CAIROS' of Toulouse University Paul Sabatier, awarding some of the friends of the Principal Coordinator of the Center CAIROS, (as well as some other scientists) with "gold" medals in recognition of their contributions to science. In turn, Toulouse University Paul Sabatier awarded its own gold medals to the self-proclaimed 'founding father' of the 'Telesio-Galilei Academy of Science' - 'Professor' Francesco Fucilla and Professor Waldyr Alves Rodrigues Jr., the Chairman of the 'Telesio-Galilei Academy of Science'.
Past TGA awards events have been held in various locations, but this was the first time a major university had accommodated the event. Former French government minister and philosopher Luc Ferry gave a lecture during the three day event for the Philosophical Society of Toulouse. According to unconfirmed reports on the TGA website, Ferry has accepted the Telesio Galilei Academy of Science Award 2013, and will later receive the 2013 Gold Medal Award for Philosophy from the Telesio Galilei Academy. For the schedule of events of the ceremony, see this link.
The Telesio-Galilei Academy of Science, originally named the Santilli-Galilei Academy of Science, was established in 2007 with the goals of "promoting openness in all branches of scientific endeavour" and "to champion the true scientifc [sic] spirit, and encourage rational and scientific discourses for no reward other than the betterment of science". These are admirable goals, no doubt. The principal activity of Telesio-Galilei Academy of Sciences however, appears to be the selection and nomination of scientists for 'gold' medals and membership of the academy's 'hall of fame'. Scientists, some famous in their field, others less so, are listed on their website as members of the academy's board, as honorary members or members. It's quite an impressive list, and includes some high-profile names. But it also includes a lot of names whose work mainstream scientists would probably feel rather uncomfortable being associated with.
Here is TGA's President, Jeremy Dunning-Davies, speaking about TGA's origins and aims at their awards ceremony in London last year:
"Openness in science" is certainly something that is needed if science is to serve beautiful Truth. For reasons which will be explained in Part 2 of this report, QFG/Sott.net was curious to find out who and what could be behind a scientific organisation with a mysterious benefactor that is casting a wide net to attract backing from scientists, so we decided to look into some of the names affiliated with the 'Telesio Galilei Academy of Science'.
"Nothing is ever what it seems but everything is exactly what it is." - Buckaroo BanzaiLet's begin by taking a look at the Telesio-Galilei Academy of Science Board:
- Francesco Fucilla, Founding Father (Scientist)
- Waldyr Alves Rodrigues Jr., Chairman (Physicist - Mathematician)
- Franco Selleri, Deputy Chairman (Physicist - Mathematician)
- Jeremy Dunning-Davies, President (Physicist - Mathematician)
- Terrance Clifford Amos, Vice President (Scientist)
- Christian Corda, (Physicist - Mathematician)
- Jacques S. Boedels, Legal Advisor To The Board
- William A. Fucilla, Legal Advisor To The Board
Francesco Fucilla is described on the TGA website as the 'Founding Father' and he certainly appears to be a very busy man. From his CV (which does not include any verifiable academic credentials) we see that this 60 year old Italian national considers himself a Geophysicist, Author, Philosopher, Professor, Inventor, Oil Entrepreneur, Businessman and Film Producer. His business ventures are particularly curious. He is listed as the Managing Director or Chief Scientist/Development Advisor at literally dozens of firms, some involved in 'alternative energy':
- Global Energy Technology Plc
- Steriwave Plc
- Wharf resources Plc
- Dome Petroleum Plc
- Allied oil and gas Plc
- Jurassica Plc
- Phoenix resources Plc
- Yellow Energy Plc
- Global Energy Technology Plc
- ECE Technologies Ltd
- Francesco Fucilla
- Robert Fucilla
- William Fucilla
- Anthony Fucilla
- Adrian J Eyre
- Bruno Denantes
- Mike Goodrich
- Mike Goddard
- Waldyr Rodrigues
- Jeremy Dunning-Davies
The Business Side of Francesco Fucilla
One of Francesco Fucilla's three sons, Robert Joseph Fucilla, was a director of Ascension Securities Limited and possibly Mansion House Securities. Both of these companies were brokerage firms that, according to reports, engaged in the aggressive pitching (mostly via telephone) of high risk shares in other companies owned or directed by Robert Joseph Fucilla and Francesco Fucilla. While we understand that it is not a criminal act for a person to set up a brokerage firm to sell shares in other companies owned by the same person, both Ascension Securities Limited and Mansion House Limited were severely sanctioned, and essentially shut down, by the FSA, a British government body responsible for the regulation of the financial services industry in the United Kingdom. According to Hallbrook Partners, a respectable UK consumer Investment Watchdog organisation:
Ascension Securities Limited (ASL) did not escape negative publicity or the wrath of the regulator, the Financial Services Authority (FSA). Despite filing accounts in April 2009 showing a turnover of just over £2m and assets of more than £500,000, ASL ceased doing business on 22 May 2009 and formally went into liquidation on 7 July 2009.Note above that Robert Fucilla also worked for Pacific Continental Securities Ltd, another firm that was censured and shut down, and was described by financial commentator Tony Hetherington as follows: "The disgraced broker tricked investors into buying millions of pounds worth of shares which later turned out to be worthless or near-worthless." In early 2009, British authorities were budgeting for £100,000,000 worth of claims from defrauded customers, a record-setting UK compensation claim that may actually have reached as high as £300,000,000.
On 26 May 2009, ASL wrote to clients advising that as of noon on 22 May 2009, ASL voluntarily temporarily ceased carrying out regulated business whilst undertaking a full business review with the intention of providing a better and more efficient service.
This wasn't strictly true. On 6 August 2009, the FSA confirmed in writing to ASL's clients that ASL's decision to cease regulated business was following a visit by the FSA and subsequent to discussions held between the firm and the FSA. This was due to the FSA identifying potential breaches of the rules and principles that govern regulated firms such as ASL.
ASL's demise unsurprisingly mirrors that of other regulated smaller company stockbrokers. Director Gary Porter previously worked for Mansion House Securities Ltd. Co director Derek Leonard Scrivener had also been a salesman at Mansion House. Another director, Robert Joseph Fucilla, worked at Pacific Continental Securities (UK) Ltd and Square Mile Securities Ltd. Staff included Rajan Aggarwal, who worked at both Mansion House and Square Mile, Costas Constanti who was at Pacific Continental and Square Mile, and Jonathon David Wicks, whose past jobs also included time at Pacific Continental and Square Mile. Another notable member of staff was Luc Jean Chaudhary. After over five years as a salesman at Pacific Continental, he joined Mansion House in 2006 and became a director. In March 2008, Mansion House was fined by the Financial Services Authority (FSA) £122,500 for breaches of the FSA Principles for Business and Conduct of Business Rules. Chaudhary left Mansion House in May 2008 and joined Ascension Securities Ltd.
On 13 January 2010, the Financial Services Compensation Scheme (FSCS) declared ASL "in default". This means that ASL is unable or unlikely to be able to meet its liabilities and as the UK statutory fund of last resort; the FSCS can step into the shoes of ASL and redress eligible claimants. (Subject to its limits)
Mansion House Securities Ltd (MHS) was fined by the Financial Services Authority (FSA) £122,500 on 31 March 2008 for breaches of the FSA Principles for Business and Conduct of Business Rules that occurred between 3 May 2006 and 18 January 2007. MHS agreed to settle at an early stage of the FSA's investigation, thus qualifying for a 30% discount under the executive settlement procedures. Were it not for this discount the FSA would have imposed a financial penalty of £175,000. MHS was instructed to obtain on independent review of its current compliance with regulatory standards and also of its past business and to remediate customers where appropriate.The Financial Services Authority (FSA) fined Mansion House Securities Limited (Mansion House) £122,500 for giving customers unsuitable and inaccurate advice when selling higher risk shares.
With effect from 3 April 2009, the FSA varied MHS' permissions and barred it from doing anything that would reduce the value of its assets. This includes paying 'unusual or significant amounts' to employees or bosses or to anyone connected with them. MHS cannot lend more than a small sum to anyone and it is prohibited from engaging in any kind of financial reconstruction or reorganisation without the consent of the FSA.
However, the variation of permissions stopped MHS from taking on any new business which inevitably led to it being placed into administration on 30 April 2009.
In the three years it had been in business MHS had employed more than 50 staff. Many were former employees of other broking firms that had attracted the attention of watchdogs. These included the notorious Pacific Continental Securities (UK) Ltd, which allegedly cheated its customers out of tens of millions of pounds, if not more, and which the FSA says it would have fined £2 million, had it not gone bust.
As noted, it appears that many of these high risk shares that Ascension Securities and Mansion House Securities were pushing on unsuspecting people were shares in companies owned or directed by Francesco Fucilla. For example, 'Global Energy Technology' (GET) is a company that claims to be planning to use water to fuel transport vehicles. Essentially, it is a 'water-powered car' company. On GET's list of Directors, we find Francesco Fucilla as the Executive Managing Director of Global Energy Technology, with Waldyr Rodrigues acting as Chairman, Bruno Denantes as Executive Director & Chief Engineer and Adrian Eyre as Executive Director.
If you read the GET share offer document, you will see that GET is listed as the 'Corporate Division Technology' of the sanctioned 'Ascension Securities Limited'.
Even more worrying is a stipulation in the Global Energy Technology share offer document. Under 'Terms and Conditions of the Offer', article 6.18 states:
[By completing and delivering an Application Form, prospective investors] acknowledge that Ascension Securities Limited and Mansion House Securities will receive a commission of 40 per cent of all amounts received by the Company from the Sale which is included in the offer costs.as we have seen, less than 6 months later, in May 2009, both of these brokerage firms were sanctioned, fined and shut down by the FSA for breach of regulations and fraudulent selling of shares.
Another company of interest is 'Allied Gold Resources Plc', a company incorporated in the UK in June 2006 "in order to carry out gold and silver exploration activities in Slovakia." This appears to be another Francesco Fucilla company (where he is listed as Chief Scientist and Development Advisor), with Bruno Denantes as Managing Director, Adrian J. Eyre as Director, William A. Fucilla as Director and Terence Clifford-Amos as Chairman.
On the Allied Gold Resources Plc share offer document, you will see that the company is listed as being the 'Corporate Mining Division' of the sanctioned 'Ascension Securities Limited'. Allied Gold announced on its website in 2007 that "Robert Fucilla, the director of Ascension Securities, has acquired 7,500,000 shares" in the company.
Phoenix Resources Plc appears to be another Francesco Fucilla company which is purportedly "actively exploring for Oil and Gas in the Canning basin and Carnavon basin, in Western Australia." On the board of directors page of Phoenix Resources, Francesco Fucilla is listed as the Chief Scientist & Development Advisor, Mr Adrian J. Eyre is Chairman, Bruno Denantes is the Managing Director and William A. Fucilla is Executive Director.
On the share offer document of Phoenix Resources, you will see that it is listed as the 'Corporate Division, Oil and Gas' of the sanctioned 'Ascension Securities Limited'. There are several other companies dedicated to oil, gas and other mineral exploration, such as Allied Oil and Gas, with the same list of company directors (Fucilla, Eyre, Denantes et al).
French company DNI Srl. DNI Srl appears to be heavily involved, at least in terms of financial backing, with many of Francesco Fucilla's companies.
Many of these companies owned or directed by Francesco Fucilla, Bruno Denantes, Adrian J Eyre et al, appear to have been founded in 2006, some in the same month of that year. Common to many of them is that they have solicited investment from the public for high risk adventures that have gone bust or appear to have engaged in very little activity, other than commissioning some exploratory reports.
Let's take a closer look at Allied Gold Resources Plc (AGR). AGR was incorporated in the UK in June 2006 "in order to carry out gold and silver exploration and production activities in Slovakia and abroad." In April 2007, Allied Gold offered 16.5 million ordinary shares in the company to the public.
The company raised over £1 million of shareholders' money to prospect for gold in Slovakia according to financial reports filed on their website. During the next few years they published some chemical analysis reports about an area in the Tribec Mountains of Slovakia and made various claims of drilling and sampling that cannot be verified.
Strangely, the board of directors of Allied Gold Resources commissioned a report on the likelihood of a successful gold find in Slovakia a year before they went 'public' in 2006. The report concluded as follows:
'An Exploration Area Zlatno - Au, Ag: Independent Technical Report'Nevertheless, AGR lobbied the public to invest in what appears to have been an extremely risky venture, claiming that:
compiled by Ludovit Kucharic for Allied Gold Resources plc, 2006
Finally we can summarize knowledge about claimed locality to the following points: The area is known by Au occurrence in placers only. The attempts to discover primary sources have not been successful...
The Tríbec Mountains have not been considered a traditional gold locality when compared with well-known locations. However, there are a number of indicators from prior exploration and workings within the area which have led the Expert to consider the area to be prospective for gold.Based on this, it seems that the directors of Allied Gold encouraged investment in their company by 'pumping up' the potential for gold discovery in Slovakia when it had been previously determined by a qualified expert that the area was devoid of significant gold mining prospects.
There are gold flake occurrences in alluvial deposits are situated in the South East part of the region, between Zlatno village and Zlaté Moravce.
There are a number of gold placers within the concession area, places where there have been historical gold diggings. In the North-West part of the concession near the village of Velký Kliž (Brodý creek and Velké Zeleno valley) old gold placers occur (probably from the Middle Ages) and old small open cut works, in a North West - South East direction, between 30 and 35 metres wide. In panned concentrates from stream deposits near the old open cut workings, 21 - 30 float gold in 1 dm3 of material was found. The same geological situation is also present on the other side, (South East part) of the concession. Old gold placers from the Middle Ages also occur near to the village of Zlatno.
But the story does not end there. It now seems that Adrian J. Eyre, for Allied Gold, is crying foul because, he claims, the company that Allied Gold set up to oversee the gold prospecting operation in Slovakia, Wharf Resources Plc, was defrauded by the two 'experts' - Dr. Pollini and Mr Antonio Papaleo - that Allied Gold signed up do the job, as announced on their share offer document. According to Eyre, Wharf Resources PLC purchased 90% of Rima Muran s.r.o, a Slovakian drilling company but the work was never done.
Dr Alfredo Pollini (aged 60) - Dr. Pollini received a Doctorate in Geological Sciences from the University of Bologna and specializes in geophysics and hydrogeology. He is also a Scientific Adviser to Consulit Engineering s.r.l. and a Director of ENI-GAS s.p.a. During a long and distinguished career, he has served as Scientific Advisor and Chief Geologist/Geophysicist to Georome s.r.l., IRI Group, Italimpianti Cons., ECOSUD s.p.a. and others.It is certainly strange that a supposed gold mining company would have only two staff, apparently experienced experts in the field, and that they would receive no pay for their work. Although, again according to the Allied Gold share offer document, Pollini and Papaleo had, between them, a 75% share interest in Allied Gold.
Mr Antonio Papaleo (aged 38) - Mr Papaleo has held a long career in engineering. In 1993 he worked as a consultant projector for the Engineers Faculty of the University of Calabria and the Centro Ingegneria Economica E Sociale S.C.R.L. on scientific research projects. Between 1994 and 1996 he was the Marketing Vice President of Ferrum Italia (a member of F. Holdings PLC), which specialises in constructions and industrial projects. In 1996 - 1997 he acted as Chief negotiator for the Building Centre Charity Trust/Summit (UK), supporting the promotion of the British construction industry. In 1998 he became the Advisor of the Chairmen for CIDEC (Italian Confederation of Traders), working on marketing strategies and institutional representation of the traders corporation. He is currently the Official Spokesman for Strang Corporation (UK), part of the Upton Management Group Limited (TCI).
The Company has no other staff. It is likely that the Company will remain thinly staffed, using consultants and contractors on an as needed basis. The terms of the Directors' appointments include that they will not receive any remuneration. Each of the director's appointments may be terminated on 3 months' notice.
As regards the accusations by Allied Gold and Adrian J Eyre, Pollini and Papaleo and another member of staff in Slovakia, Peter Corej, claim that they did nothing wrong and the problems for Allied Gold in Slovakia were caused by bad management and hubris on the part of the owners of Allied Gold:
Peter Čorej, former manager of the company Rima Muran and its co-owner, in respect to these allegations [from Allied Gold and Adrian J Eyre], denies them all. "They invented them to justify their failure to investor shareholders," Corej says. "When companies talk about purchasing contracts for tens of millions of dollars [crowns] and employed dozens of people. It did not work. On the contrary, [they were] liable to duties, taxes, hiring and the payment of hundreds of thousands."The end result, it seems, was that Allied Gold's Slovakian adventure ended before it even began, with no return for investors.
'Yellow Energy Plc' is yet another of the many companies owned by Francesco Fucilla or in which he has a major stake. At Yellow Energy Plc the same names of directors from so many other similar companies appear: Waldyr Alves Rodrigues Jr. is Chairman & Director, Terence Clifford-Amos is Co-Chairman, Bruno Denantes is Executive Director, Adrian J. Eyre and William Fucilla are Executive Directors and Francesco Fucilla is Chief Scientist & Development Advisor. Yellow Energy Plc was "incorporated in the UK in September 2009 in order to carry out uranium, gold and base metal exploration to define economic and minable deposits primarily focussed (sic) on uranium mineralisation in Western Australia."
Interestingly, when the Australian government opened up parts of the country for uranium mining in 2008, the directors of Allied Gold started lobbying Allied Gold investors with information about the prospects for drilling in Australia under the name of Yellow Energy Plc. These were people who had bought shares in a company that was supposedly going to find gold in Slovakia. But as we have seen, there wasn't much chance of finding gold in Slovakia, So, it seems, Allied Gold began propositioning their shareholders to get on board for an all new prospecting operation in Australia under a different company owned by the same people. Interestingly, the modus operandi of Yellow Energy seems to be precisely the same as Allied Gold.
Yellow Energy Resources prospecting in Australia involved paying a local expert to do the initial testing and file reports, which the company post on their web sites:
Lake Irwin South Project, Annual Mineral Exploration Report
Previous exploration in the region was conducted by various companies.It seems strange, to say the least, that shareholder money would be elicited and used for ventures that have a very small chance of succeeding and providing returns to investors. We suppose, however, that that is where the 'high risk' aspect comes in. While we are no experts, the actual prospecting operations, at least in Australia, also seem to be less than rigorous. Consider these pictures from Yellow Energy's own portfolio of what they claim is their initial testing at the concession site in Australia.
From 1969 to 1973 Kennecott, CEC, Le Nickel, Mineral Search and Development, Jones Mining and Hawkstone Minerals conducted various phases of exploration in the search for nickel and copper.
Kennecott, Le Nickel and Hawkstone Minerals continued exploration to 1979 they carried out significant drilling programs for Ni and Cu. No other elements were assayed for. They were not successful in location significant mineralisation.
- 1979 to 1982 Esso completed a major search for volcanogenic base metal deposits without success.
- In 1983 Nord resources searched for gold without success.
- From 1987 to 1992 CRAE conducted a search for both base metals and gold without success.
- In 1995 Dioro Exploration NL conducted preliminary gold and base metal search in the area.
- From 1995 to 1999 Kalgoorlie resources NL explored for gold but without success.
- In 1998-2001 Normandy conducted both base metal and gold search but without success.
- In 2007 t0 2008 Aura Energy Ltd conducted preliminary reconnaissance work searching for uranium that returned insignificant uranium results.
- Venture Minerals conducted preliminary uranium search of the area for uranium and were unsuccessful in locating uranium mineralisation.
Another Francesco Fucilla et al company is Dome Petroleum resources, allegedly "incorporated in the UK in May 2005 in order to carry out oil and gas exploration and production activities in Australia". Strangely however, much of the 'shareholder information' posted on the Dome Petroleum site is the same as that posted on other Fucilla company sites and contains information not about petroleum but about the interests of other Fucilla companies like gold and uranium prospects in Australia and elsewhere.
Another Francesco Fucilla et al. company is Jurassica Oil & Gas Plc, which was "incorporated, August 2006 in order to carry out oil and gas exploration and production activities, through farming into Exploration Permits, within the Gascoyne and Exmouth Sub Basins being part of the much larger Carnarvon Basin, Western Australia." Strangely, this is more or less the same remit as the previously mentioned Fucilla et al company, Phoenix Resources Plc which is allegedly "actively exploring for Oil and Gas in the Canning basin and Carnavon basin, in Western Australia." The share offer documents for Phoenix Resources Plc, Jurassica Oil & Gas Plc and United Oil & Gas Plc appear to show that they are also part of the 'Corporate Division Oil and Gas' of the sanctioned broker firm Ascension Securities Ltd, where Robert Fucilla was a director. These companies, like so many others Fucilla et al companies, were also formed in 2006.
Futurella Plc', a bottled water venture in Italy that appears to also have gone bust after collecting (or using a portion of) public funding amounting to €400,000 in 2009 and €400,000 in 2010. Several reasons for the demise of the company are given by the board of Futurella, including blaming Italy's green politicians "who wanted the public to drink tap water in order to not contribute to environmental waste with plastics", and claiming that the Italian government had been recommending that consumers use glass bottles instead of plastic and that they drink tap water.
Ideas to rescue the company included a plan to use the water to grow organic vegetables and a request to shareholders to invest more money to move the operation to the Middle East, by way of a strange transfer of 25 million shares from Adrian J Eyre to shareholders if 500 of them would invest a further £500 each in the company.
In the end, Futurella Plc was placed under bank administration,with debts to the bank outstanding, and, as of this writing, appears to be defunct.
One other interesting aspect of the many Fucilla et al companies is that a majority of the names chosen for the companies seem to be literal, or almost literal, duplicates of other well established and reputable companies working in the same area of business. For example, the Fucilla company Dome Petroleum Resources mirrors the long established Dome Petroleum of Canada. Fucilla's Allied Gold Resources mirrors the large Australian gold mining company Allied Gold. The name of the Fucilla 'Asutralian oil and gas exploration' company Phoenix Resources Plc, appears to mirror the Australian company Phoenix oil and gas. The Fucilla company Wharf Resources Plc. mirrors the 'Wharf mine (USA) operation of the long established Canadian mining company Gold Corp. We could go on, but we trust you get the picture. It seems reasonable to suggest that most of the names of the many Fucilla companies were chosen in an effort to 'piggyback' on the reputation of actual reputable companies operating in the same business sector.
If this was just a case of wealthy philanthropists throwing money at scientists in hopes of realising life-long dreams (and maybe making a buck or two along the way), then there would be nothing to see here. It would just be business as usual, as much as it would just be 'science as usual'. Where there is cause for concern, however, is the fact that many of these companies operated or directed by Fucilla et al also appear to raise public funding for their ventures through the persistent use of high pressure sales tactics and misleading information to sell customers shares they do not want or cannot afford. There is also evidence that the companies themselves fit the profile of 'shell companies' that engage in little if any actual work.
An example of "pressure cold calling tactics" comes courtesy of Luc Jean Chaudhary, the stockbroker involved in all three companies caught and held in default by UK's Financial Services Authority: Pacific Continental Services, Mansion House Securities and Ascension Securities. In 2006, while a director at Mansion House, Chaudhary was caught on tape selling junk shares. Such officially illegal tactics appear to have been used by these sanctioned broker firms, which were also owned or directed by Fucilla et al. And it was for these illegal practices that all three companies were shut down and prevented from continuing to manipulate customers into buying high-risk shares in companies that Francesco Fucilla et al directed.
Confessions of a rip-off artist
The Guardian, 31 May 2008
Pacific Continental Securities was possibly the UK's most notorious firm of stockbrokers. Its team of young salesmen used high-pressure tactics to lure clients into buying shares that for most investors were almost a guaranteed route to financial ruin.
After a wave of complaints, the Financial Services Authority finally banned the firm from taking on new business last year. Pacific Continental went bust shortly afterwards.
But as hapless investors lost their savings, the brokers raked it in. [...]"We were aggressive with our sales pitch and didn't give risk warnings if we could avoid it. I was encouraged to browbeat customers into a sale - in fact, it worked that anything was fine if it resulted in the punter buying.
One stock I sold shares in was New Millennium Resources. It was listed on AIM and involved in mining in Angola. We were told to tell clients about the press releases this company put out, detailing its new diamond finds. It was a good story to sell - and I got rid of about £40,000 in this one - including £5,000 to an elderly lady". [...]
In spring 2006, New Millennium was delisted from AIM and the shares I sold for up to 10p became effectively worthless - they were never sellable at a profit. I then started asking questions which did not make me popular - they told me to shut up and sell.
So how did we get the price up so high? It was through "stock supporters" - someone with an interest in the shares who would put out press releases and buy a few thousand shares. By spending perhaps £300, they would double the share price - if one person bought and no one sold, the value soared. Clients were never encouraged to sell; after all, we wanted to flog shares we'd bought from the promoters at a big discount to our asking price. [...]
[T]he firm was just like a boiler room. It was outrageous, but what is even more outrageous is how some ex-colleagues have set up lookalike firms. They know they are in the wrong - one even has a bodyguard in case angry punters pay to have him eliminated. All I can now say is sorry."
Boiler Room OperationsIn the interest of keeping this report as concise as possible by focusing on the murky financial roots of the Telesio-Galilei Academy of Science, we have left out mention of many other companies set up by Fucilla et al. Readers interested in learning about their connections to the 'landbanking' scheme in the UK and the corrupt Italian soccer scene, their investment in feature movies about shady stockbrokers, gangsters, pimps and mercenaries, as well as illuminating email correspondence sent to us by a number of the key players, should delve into our forum thread, beginning here.
"In business, the term boiler room refers to a busy centre of activity, often selling questionable goods by telephone. It typically refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stock or committing outright stock fraud."
The 'Fringe' Science Side of Francesco Fucilla
The important thing to keep in mind here is that, for anyone (scientists and non-scientists alike) who may have become involved with Francesco Fucilla et al, there is more at stake than their troubled financial history. There is also the question of reputation, specifically regarding the work of Francesco Fucilla in the field of science. As noted at the beginning, Fucilla is the self-proclaimed 'Founding Father' of the 'Telesio-Galilei Academy of Science' (TGA). To date, hundreds of scientists are listed as being either part of the advisory board of TGA, or honorary members or recipients of 'gold' medals and 'shares' in one of Francesco's companies at TGA awards ceremonies. We have already looked at one or two of what can only be described as the 'fringe' scientific ventures of Francesco Fucilla - the 'water powered car' of Fucilla's Global Energy Technology company being one example.
The idea of a 'water powered car' is by no means new. According to Wikipedia:
"Water-fuelled cars have been the subject of numerous international patents, newspaper and popular science magazine articles, local television news coverage, and the Internet. The claims for these devices have been found to be incorrect and some were found to be tied to investment frauds."Indeed, investment frauds and water-powered car companies are very common. For example, in 2006, the US State of New Jersey Department of Law and Public Safety announced that an Idaho man had been sentenced for stealing funds invested in a bogus fuel technology venture.
Trenton - Attorney General Stuart Rabner and Division of Criminal Justice Director Gregory A. Paw announced that an Idaho man has been sentenced to prison for stealing funds from victims who invested in United Fuel Cell Technologies Inc., a phony corporation that the defendant claimed had developed a revolutionary technology to convert water to hydrogen fuel.See here for another similar story from the Philippines. Perhaps the most famous claims about a 'Water powered car' were made by Stanley Meyers who, ultimately, was sentenced for gross and egregious fraud against investors.
According to Director Paw, Superior Court Judge Thomas P. Kelly of Mercer County sentenced Patrick Kelly, 51, of Kuna, Idaho to five years in state prison on a charge of second-degree theft by failure to make required disposition of property received. The defendant also was ordered to pay $400,000 in restitution. Kelly pleaded guilty to the charge on July 31, admitting that he used more than $200,000 in funds invested in United Fuel Cell Technologies to purchase eight cars in his own name.
Another company owned by Francesco Fucilla is Steriwave QC Plc, an alleged joint venture between Steriwave Plc, AltiMed Global and Bruno Denantes French company DNI Srl. Steriwave QC Plc appears to act as a reseller for 'Altimed' 'medical' products which appear to lie decidedly in the 'fringe' science department. For example, one product is called the 'AquaActivator' and claims to use ionized water to "balance the oxidation and restoration of biochemical processes that are vital for the organism." The 'Aqua Series' brochure continues:
The base to all biological activities in organism is water, for the said is responsible for the flow of biochemical processes. The intensity of oxidizing and restoration reactions depends on the activities of electrons in waters solutions. Water allows intermolecular induction, thus intermolecular potential of water can modulate external structures by electromagnetism. The AquaActivator, is recommended for; intoxication, inflammations, hypertensive medical conditions, diabetes and many other diseases at which exchange-tissues processes are violated with formation of endogenous (internal) toxins.Another of the bizarre pseudo-science treatment devices is "The Therapy Helper":
It is intended for carrying out antiparasitic, antiprotozoal, antifungal, antibacterial and antivirus therapy by a method of an exogenous bioresonance therapy (ABRT).In other words, items similar to the Hulda Clark "zappers" and Royal Rife "beam ray" device.
It is a highly effective device which diminishes the activity of pathogens - both microorganisms and their toxins, and also promotes their elimination from an organism. Electromagnetic fluctuations frequencies are set at different levels based on the type of disease (I.e. helmints, fungi, bacteria, viruses, pincers, etc.). The devise is user friendly and was developed as to rid the body of the pathogens. It automatically distinguishes the active frequency of the activator, scanning all the spectrum of pathological frequencies.
Standard procedure: Hold the electrodes with your thumbs for 7 minutes. Switch off the device and have a 20 minute break. Then hold it down again for 7 minutes and rest for 20. Then repeat the procedure. ...
It can be used for the following: Helminthic invasion (seatwork, ascarid, taenia, fluke.) lamblia, trichomonad, chlamydia. Skin parasites. Virus and microbic infections (ARD, ARVD, quinsy, venereal diseases) Fungoid. Diseases of a gastroenteric path (ulcers and gastritis, disbiosis) Diseases of the pulmonary system asthma, a bronchitis, pneumonia) Diseases of urogenital system (prostatitis, cystitis and many others) Painful syndromes (head, tooth, heart). Rashes, ulcers, burns, spots. Arthritis and myositis. Decrease or exhaustion of the protective forces of an organism.
Hulda Clark a naturopath, claimed that all human disease was related to parasitic infection, and also claimed to be able to cure all diseases, including cancer and HIV/AIDS, by destroying these parasites by "zapping" them with electrical devices. Following a string of legal difficulties and actions by the Federal Trade Commission, she moved her operation to Tijuana, Mexico. Clark's claims and devices have been dismissed by authorities ranging from the US Federal Trade Commission and Food and Drug Administration to alternative medicine figures such as Andrew Weil as scientifically unfounded, "bizarre", and potentially fraudulent.Clark died 3 September 2009 of multiple myeloma (a blood and bone cancer) which, apparently, her devices could not cure or may, in fact, have caused.
Royal Rife was an American inventor who claimed that a 'beam ray' device of his invention could weaken or destroy the pathogens by energetically exciting destructive resonances in their constituent chemicals. Interest in Rife's claims was revived in alternative medical circles by the 1987 book "The Cancer Cure That Worked", which claimed that Rife had succeeded in curing cancer, but that his work was suppressed by a powerful conspiracy headed by the AMA. After this book's publication, a variety of devices bearing Rife's name were marketed as cures for such diseases as cancer and AIDS. An analysis by Electronics Australia found that a typical 'Rife device' consisted of a nine-volt battery, wiring, a switch, a timer and two short lengths of copper tubing, which delivered an "almost undetectable" current unlikely to penetrate the skin. Several marketers of other 'Rife devices' have been convicted for health fraud, and in some cases cancer patients who used these devices as a replacement for medical therapy have died. Rife devices are currently classified as a subset of radionics devices, which are generally viewed as pseudomedicine by mainstream experts.You can check this link for the other products, all of which engage in similar pseudo-scientific rambling. And check this link for the 'certification' documents, all of which appear to be in the Czech language and, apparently, simply say that the device is 'operationally functional'. Here's a video of another Steriwave project, put together by Francesco Fucilla:
Other Steriwave companies include:
- Steriwave Terraforming, which plans to use a plant hormone to increase crop yield and make deserts bloom
- Steriwave Startec, which plans to develop a 'piezonuclear reactor' for waste management
- Steriwave DNI, a company that took over the previous company of Bruno Denantes and claims to provide "consulting services (engineering and OM) and drilling operations support to oil and gas companies worldwide."
As we have seen, Adrian J. Eyre is heavily involved in the running of the pseudo-science companies of Fucilla et al. It was Adrian J Eyre, along with Robert Fucilla, who repeatedly sent bogus complaints to the Cassiopaea.org forum hosting company in an effort to prevent our forum members from doing their research. A little digging has revealed that Adrian J Eyre is not only into the pseudo science peddled by the companies of Fucilla et al, but has had a penchant for outrageous junk science also.
In 2007, along with a man called Boris Volfson, Eyre formed a company called 'Gravity Machines 1 Ltd' which then morphed into 'Gravity Machines Plc'. This company appears now to be defunct, but the business history of Eyre's partner, Boris Volfson, gives us an idea of what it was all about:
Indiana Inventor Granted US Patent for Anti-Gravity-Powered Spaceship
"Volfson's craft is theoretically powered by a superconductor shield that changes the space-time continuum in such a way that it defies gravity. The design effectively creates a perpetual-motion machine, which physicists consider an impossible device.
This is not the first such patent to be granted, but it shows that patent examiners are being duped by false science, says physicist Robert Park, watchdog of junk science at the American Physical Society in Washington DC. Park tracks US patents on impossible inventions."
It should come as no surprise then that both Volfson and another director of his anti-gravity spaceship company, Giovanni Guglielmo, are listed as members of the 'Telesio Galilei Academy of Science' Board
In short, it is reasonable, we believe, to state that, given the nature and history of many of the companies owned by or directed by Francesco Fucilla and his associates, and the potentially illegal and immoral way in which funding for these companies is raised, any respectable person should be wary of establishing close professional or scientific links with Francesco Fucilla's 'Telesio Galilei Academy of Science'. Indeed, based on our own personal experiene with Francesco Fucilla and our research into his background, the establishment of the 'Telesio Galilei Academy of Science' by Fucilla seems to be an effort to associate as many real scientists as possible with Fucilla and his companies in order to lend scientific legitimacy to what is otherwise very 'fringe' (some might say crackpot), scientific theories and products. As always, our motivation in producing this report is to alert the public to possible dangers in the field of science and business, and to alert our friends in the scientific establishment to the facts behind the 'Telesio Galilei Academy of Science'. With those facts in hand, each can then decided for him/herself about the true nature of Francesco Fucilla's businesses and his 'Telesio Galilei Academy of Science'.
For our part, our brief and, we suppose, as yet unfinished, personal interactions with Francesco Fucilla have been less than edifying. The following is just one of dozens of emails that the owners of QFG/Sott.net have received in recent days from Francesco Fucilla:
Fri, 6 April 2012 04:34:31 -0700 (PDT)Since we began our investigation into TGA, Fucilla et al and their myriad companies, we have received death threats, prank phone calls and countless other abusive emails telling us to remove the "slanderous and criminal postings" from our forum... "or else". Given these threats, it came as no surprise to us to realise that others have also been threatened in this way by Francesco Fucilla.
From: "francesco fucilla" ffucilla@
To: "Francesco Fucilla" anthony.fucilla@, "ANTHONY FUCILLA" anthony.fucilla@, f.fucilla@, fucilla@, "Prof. Francesco Fucilla" ffucilla@, "bruno newest email denantes" brdnico@, "Denantes Bruno" brunodnvector@, "br Denantes" be2nantes@, "Group Administration" group@, "Mike Goodrich" mike.goodrich@, "goddard mike" mike.goddard1@, "ivan steele" ivan.steele134@ "Pierre Angles" angles@, andrei_grib@, Wolfgang_Spr sproessig@, "waldyr alves rodrigues jr" walrod@
Subject: re; First Affidavit from shareholders for the police in france and UK more to follow
Date: Fri, 6 Apr 2012 12:34:24 +0100
He is by far the worse case of autism I have seen !!
Mathematics is logics and this man is VOID any any logics !!
I am sure beyond doubts that he has learned well ( like parrots ) how to jerk around with number and symbols knowing nothing of what he talks about !!
I am horrified to see such vendetta over the fact that Pierre never put forward his name for award, and as a result he and his wife designed a defamatory campaign against my business group in order to discredit his CAIROS colleagues merited awards !!
We are dealing with reptilian DNA in this case !!
As you now all living organism run on the same software and share the same sequence of amino acids and nucleotides and that certain sequences from time to time are shifted back by millions of years, hence feeding in certain individuals reptilian or and lower form of ancient sequences present today in lower form of animal life such as reptilians life, altering in them the limbic system behavioural functions to mimic its predecessors.
well, Mr Ark has exactly the reptilian DNA sequence of nucleotides presently shares by all Reptilian life entranced in his limbic system whose main functions are the survival one......... hate, aggression, fear, vendetta and so on !!
It is a good specimen for my research in human behaviour. He belongs to a lab and dissected for research in evolutionary inversions traits in animal life !!
Please send this email and the attached to the world
I will post all data to a dedicated website for research in Reptlian DNA inversions in humans DNA and or correlations in nucleotide sequences in reptilian and human DNA !!!
AFFIDAVIT BY BRUNO DENANTES IN THE CASE FRANCESCO FUCllLA Mr and Mrs azjadczyk
TO WHOM IT MAY CONCERN.
I Dr Bruno den antes of 173rue de CJwrcnton, 75012 Paris swear that this is the truth the whole truth and nothing but the truth so help me God.
I Dr Bruno Denantes make Oath and say I am an international Scientist, and businessman with interests that range from properties, Farming, Oil and Gas, Minerals, Technologies and other. I am the largest single investors in the Group scientifically and logistically headed by Francesco Fucilla
I have known Francesco Fucilla since 2004. I have invested millions of Dollars and continue to invest in the said group of companies such as Steriwave, Global, for never in my life as a scientist and businessman I have ever meet a more honest human being, nor a Greater genius and scientist. Francesco Fucilla Is a man of dignity honesty and morality, never encountered by me during the path of my life. Francesco Fucilla honesty, generosity and humanism as been an inspiration to my life and offers all of us a future hope for a better world. Francesco as has shown to me in the last 7 years that there are no Geoscientists that side him, his genius provided our group with discoveries after discoveries, integrating Geosciences and biological/chemical science in a way never done before. He is a universal genius and polymath with a sense of justice and humanity never known to me. He has been able to show us economic strategies, that have resulted in putting our companies into a position of zero debts and with working capital, and assets in the billions. Francesco Fucilla will receive further funding support from me and other long standing shareholders for our money could not be safer than in his hands.
indeed I and all of the other shareholders in our group of companies will testify to these facts, there could be no grater defamatory lies and criminal injustice than the one spread by Mr and Mrs azjadczyk in their websites.
I will testify to the above statement in any courts of law.
Dr Bruno Denantes PhD Dni Holdings.
The following is a ruling made by Justice Lawrence Collins in the British High Court of Justice (Chancery Division) on December 6th 2005 in a case between Ascension Securities Limited and The Motley Fool Ltd. The case was brought by Ascension Securities against the Motley Fool (an investment news website and online forum) for 'defamation' due to comments about Ascension Securities Ltd made by shareholders on a thread on the Motley Fool discussion board.
Ascension Securities Limited v The Motley Fool LimitedYou can read more details from the defendants' POV here.
Neutral Citation Number: f200S1 EWHC 3064 (Ch)
IN THE HIGH COURT OF JUSTICE
Royal Courts of Justice
Strand. London. WC2A 2LL
MR. JUSTICE LAWRENCE COLLINS
ASCENSION SECURITIES LIMITED
THE MOTLEY FOOL LTD.
MR. BEN PIlESI of Ormerods for the Claimant
MR. ADAM SPEAKER (instructed by Taylor Wessing) for the Defendant
MR. JUSTICE LAWRENCE COLLINS
Digital Transcription by Marten Walsh Cherer Ltd.,
Midway House, 27/29 Cursitor Street, London EC4A lLT.
Telephone No: 0207405 5010. Fax No: 0207405 5026
This is the third time this matter has come before me. The claimants, Ascension Securities Limited, from my recollection, although the papers are not any longer with the court, is a relatively recently-formed brokerage firm authorized by the FSA. They first came before me represented by the father of one of the directors [Editor's note: this would be Francesco Fucilla] asking for an injunction to restrain or require the removal of some postings on a website run by the defendants Motley Fool Limited. The gist of the postings was that in some way Ascension Securities was a reincarnation or connected with another company called Pacific Continental which was said to have been involved in fraudulent transactions. [Editor's note: which was subsequently proven to be TRUE]
I was concerned by the fact that although I was told that Ascension Securities Limited had a compliance officer or in-house lawyer and also that it had solicitors. I think at that time identified as Onnerods, nevertheless the application was being made not by the company itself or by its solicitors and counsel or even by its inhouse lawyer but by the father of one of the directors [Editor's note: again, this would appear to be Francesco Fucilla]. Accordingly, I said that the application ought to be made by professionals and properly served on the proposed defendants so that the court could consider whether there was anything in the application. It also emerged at, I think, the first of those hearings that Mr. Fucilla, a director of the claimants, had in fact previously been employed by this company, Pacific Continental, which only emerged on my questioning.
This is the inter parties hearing of the application and the claimants no longer wish to pursue it because they consider that they have been given adequate undertakings by the Motley Fool Limited, the respondents, to remove the offending material. The only question is that of costs. The applicants say that in essence the respondents have conceded what the applicants ask for and therefore they should be entitled to the costs.
The respondents say that this application was misconceived, that it could not have succeeded tor a number of procedural defects including it being in the wrong division, no claim form having been issued and other less important procedural defects.
In addition, the respondents point out that the principles in cases of this kind, particularly in relation to defamation if that is the cause of action which obviously it must be have not been complied with. They point out that the applicant has to show that the statement is unarguably defamatory, that there are no grounds for concluding that the statement may be true, there is no other defence which might succeed and there is evidence of an mention to repeat or publish the defamatory statement. They point out that the applicant has not identified on the application notice or on a claim from the individual causes of action, the particular words complained of or of their meaning.
In addition I was shown correspondence about which I was not told at either of the two hearings in which it is apparent that the respondents were acting reasonably in asking the applicants to identify precisely about which matters they complained of. I have been shown a series of e-mails, but I do not consider these are the kind of e-mails which a responsible business organisation ought to be sending if it is intending to identify properly what matters it complains of.
Indeed, from first to last the behaviour of the applicants has not been one which 1 would associate with a properly-run/regulated brokerage firm. I hope that they will learn from this experience that they do have to take professional advice and use professional assistance if they are going to engage in this type of operation, They are not the ordinary unassisted individual litigant who cannot afford professional assistance. I recall, although I no longer have the document with me, that their turnover for the year was in excess of £250,000 so lack of financial capability cannot be an excuse for the extraordinarily lax way in which this matter has been dealt with.
So far as the discretion as regards costs is concerned I was referred to Picnic at Ascot v. Derigs. It seems to me that it cannot be said that the applicants have really been successful. They have got what they wanted but I do not think that the costs of the way in which they got what they wanted should be visited on the respondents. It seems to me that the applicants would not, in all probability, have obtained an injunction, given the procedural errors that they committed and the numerous ways in which I was not given the whole picture. They obtained the undertakings not because of the proceedings but because they eventually provided the requested details of the material to which they objected. In those circumstances I have not the slightest hesitation in saying that the applicants should pay the respondent's costs.
Note the comment by the judge in the above ruling that "They [Ascension Securities Limited] first came before me represented by the father of one of the directors." In this case, "one of the directors" of Ascension Securities Limited seems to be Robert Fucilla. Which suggests that "the father of one of the directors" was Francesco Fucilla. So, it seems that Francesco Fucilla took this case against the Motley Fool forum for 'defamation' because members of that discussion board had attempted to do what the QFG/Sott.net forum have done - publicise the results of their research on Ascension Securitiies Limited, and, in our case, so many other Fucilla et al companies. As a result, the Motley Fool won the case, and Fucilla et al had to pay their costs. The Motley fool owners however took down the offending thread because, by their own admission, they did not have the time or energy to continue to keep going to court to defend themselves against spurious 'defamation' charges such as the charge made by Fucilla.
Sadly, the court ruling does not appear to have dissuaded Fucilla and his cronies. There are two threads on the Motley Fool from 2009 where Mike Goddard, the Secretary for Yellow Energy Plc, threatens the discussion board owners with legal action if they do not remove several posts about Yellow Energy by a forum member.
Note also that the judge was highly critical of the "behavior of the applicants". Behavior which we at QFG/Sott.net have experienced from Francesco Fucilla and his cohorts. Apparently, despite the judge's hope, Francesco Fucilla has not learned from that experience; he continues to write hysterical and defamatory posts and emails to us threatening legal action. Francesco Fucilla and his associates have apparently not learned from their ill-advised and poorly implemented court case against The Motley Fool. They have not learned that what the Motley Fool forum members were doing, and what we are doing now, is a protected free speech activity.
Sadly, these kinds of 'pump-and-dump' penny stock scams are nothing new and are quite normal in our modern world. So are the transparent bids to chill free speech by threatening frivolous libel cases and filing complaints with the ISPs of those who expose their activities. The question, however, is whether respected scientists and universities want to be associated with companies such as those owned and operated by Fucilla et al. that appear to use use 'pump-and-dump' penny stock scam tactics and claim to be inventing a water-powered car.
TGA President Mr Jeremy Dunning-Davies is right: we need openness and truth in science. But what kind of openness would anyone want from an organisation like the Telesio Galilei Academy of Sciences when their 'founding father', Francesco Fucilla, writes public messages calling for other scientists to be "dissected on a table like animals"? What kind of truth can anyone expect from organisations like the Telesio Galilei Academy of Sciences when their founding father and several board members are involved in what appear to be multiple businesses of questionable legitimacy and legality?
Our brief encounter with the TGA, Francesco Fucilla et al have made it clear to us that, as with all such individuals and their operations, the Telesio-Galilei Academy of Sciences is simply not what it presents itself to be.
Joe Quinn is an author and editor at Sott.net, his essays have appeared on many different alternative news sites. He can be reached at [email protected]
Niall Bradley is an editor at Sott.net and a contributing editor at Veterans Today. He can be reached at [email protected]