This website is dedicated to making the public aware of Michael Todd Osborn aka Michael Osborn Ison. In the past, Osborn has performed cons under the guise of Commissum Universes, LP; Principal Capital Group, Inc., Legacy Capital Group, Inc, ThePumpTracker.com, AbuseOfLaw.org, PantheonTraders.com, AnonymousAdvisory.com, WallStHype.com, and AgedDebt.net. Currently, he runs his confidence schemes under Commify Technology Corp. Here, you will enter the world of this confidence man and gain insight into his scams. Hopefully, some of Osborn's future targets will benefit from the experience of others.

KNOWN ASSOCIATES PAST AND PRESENT:
Harold Gregg, Virgil Williams, Corey Engelen, Jehu Hand, Aniko Kaye, Anthony Hruska, Michael Porter, Christopher Laursen, Clinton Greyling, Thomas Parilla, Alexandre Scheer

SCAMS MICHAEL HAS PARTICIPATED IN:
AgedDebt.net, Fortitude Group, Inc. (FRTD), ThePumpTracker Fund, Victory Capital Holdings Corporation, Principal Capital Group, Inc., Virtual Gaming Enterprises, Commissum Universes, LP, Las Vegas Airlines

MICHAEL'S CURRENT SCAMS : Commify Technology Corp., Genesis Gives, VW Win Century, Inc. (OTC Pink: VWIN), Star Alliance International Corp. (OTC Pink: STAL), Inbit Corp. (OTC Pink: INBT)

KNOWN ALIASES: Jerry Lambert, Michael Lamont, Tom Furlong

Wednesday, February 10, 2016

Michael Osborn Pleads Guilty to Wire Fraud and Illegal Monetary Transactions

On February 9, 2016, having seen the writing on the wall, Michael has changed his plea to guilty on two  of 14 counts alleged in a February grand jury indictment, after coming to an agreement to have the remaining 12 counts dismissed.

The charges stem from the Commissum Universes con which was begat by the failed Principal Capital Group scheme. Michael has pled guilty to one count of wire fraud and one count of willfully causing another to engage in a monetary transaction in property derived from specified unlawful activity.

Among Michael's admissions are:

WIRE FRAUD
  1. that he devised a scheme to defraud by make false representations;
  2. that he acted with the intent to defraud;
  3. that he caused another person to carry out an interstate transaction; and,
  4. that he carried out the scheme to defraud under false pretense, representations and promises.
WILLFULLY CAUSING ANOTHER TO ENGAGE IN AN ILLEGAL TRANSACTION
  1. that he willfully caused another person to engage in a monetary transaction;
  2. he knew that the transaction involved the proceeds of criminal activity;
  3. the transaction was greater than $10,000; and,
  4. the subject of the transaction was derived from wire fraud;
  5. that the transaction occurred in the United States.
In order to carry out his schemes, Michael admitted that:
  1. He claimed to be an experienced trader and a veteran in the equity/swing trading business. The Government maintains that he also claimed he was a licensed broker, but Michael denies that claim. I can tell you that several of his victims who have come to me have stated that he claimed to have a license.
  2. He sold investors units in funds through which he claimed he would be conducting short term trading.
  3. He falsely told investors that he had a prime trading account through which he would be better able to leverage investors' funds.
  4. He falsely told investors that their funds were protected by a fidelity bond from Lloyds of London and that he used altered documents as an offer of proof.
  5. He told investors that he would use trading strategies that he did not actually adhere to.
  6. He provided investors with false trading reports.
  7. He provided investors with phony SEC filings and falsely represented that his funds were registered with the SEC.
  8. He falsely represented that the accounts investors' funds were wired to were trading accounts, but were in fact checking accounts held by Corey Engelen, and which were accessed for Osborn's and Engelen's personal benefit, including Michael's purchase of a Mercedes Benz.
  9. Some investors funds were transferred to a checking account accessed by Michael's wife Shenae (Shanney) Osborn.
  10. Instead of making promised payouts to investors, Mike came up with the excuses that all who have come in contact with him know by heart, including blaming the bank.
Michael is required to provide $695,000 plus penalties which have yet to be assessed in restitution (yeah, good luck with that) and faces up to 20 years in prison. Within the plea agreement, it appears that he has a deal with the government to have them recommend a somewhat reduced sentence provided that he snitch--presumably on his partner-in-crime and co-indictee Corey Engelen--and that his testimony is useful in obtaining a guilty plea. Both Michael and Corey are previously convicted felons, convicted for unrelated crimes.

In the interest of full disclosure, I should state the Michael sent some funds from this scheme to my attorney towards paying off part of the Judgment I have held since 2007.  Effectively, Michael defrauded victims in part to pay me, another of his fraud victims.  Both my attorney and I were interviewed by the IRS agent investigating this case and we were on the witness list had the case gone to trial. I asked if I would be required to return the funds received from Michael, but was told by the agent that "I was good".

Michael is currently under investigation along with his partners Alexander Schneer and Virgil Williams, his wife Shenae and others for two other unrelated fraud schemes which took place after the Commissum Universes scheme collapsed. One is a penny stock fraud scheme where Fortitude Group, Inc. (symbol FRTD) was used as the vehicle for defrauding the public. The other was a scheme run on the website AgedDebt.net. This scheme was much like Commissum Universes in that investors' money was used to support the lifestyle of the partners. Through AgedDebt.net, Michael claimed to be purchasing notes issued by public companies with investor funds. Michael then sold or placed the converted stock, supposedly for the benefit of investors. Many of the investors claim to have lost all or part of their investments, by some accounts totaling $3 million.

Both the Fortitude and AgedDebt schemes solicited subscribers to Michael's ThePumpTracker.com website to invest in the Fortitude and AgedDebt frauds. At one time, Fortitude claimed to have acquired ThePumpTracker.com and fraudulently valued its subscribers list at $30 million in order to attract investors to its stock.

It seems likely that Michael will be indicted for these newer schemes while he is incarcerated for the Commissum Universes fraud.  Michael's sentencing hearing for that one is scheduled for May 24, 2016 and I expect to give testimony as a "friend of the court".





2 comments:

Anonymous said...

Thanks for sharing this information. My husband and I unfortunately were scammed by Mr. Osborn back in 2012. I remember he was sentenced to 36 months in prison but got out in 18 months. I pray they put this loser away for along time. He will never learn!

Anonymous said...

do you know when he is to be sentenced ?? I might have some useful information

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