Airborne Wireless Network (EM) (ABWN)

Still holding. 

ABWN: Airborne Wireless Network; Kalistratos Kabilafkas; Timoleon Kabilafkas; Tim Kabilafkas Revocable Trust; Magdaline Kablifafkas 1989 Trust

SEC Granted Summary Judgment and Obtains Final Judgment Against Two Individuals and Three Entities in $45 Million Fraudulent Scheme
On January 15, 2025, the U.S. District Court for the Southern District of New York entered a final judgment against technology company, Airborne Wireless Network, its undisclosed control person, Kalistratos "Kelly" Kabilafkas, and his father, Timoleon "Tim" Kabilakfas, for orchestrating a fraudulent scheme to gain control of Airborne, promote its stock, and defraud investors.

According to the SEC's complaint, filed on March 2, 2021, Kelly Kabilafkas covertly purchased essentially all the outstanding shares of a shell company that would become Airborne, which he secretly controlled, and then distributed millions of shares among himself, his father, and other associates. As alleged, Kelly Kabilafkas and his associates deceived Airborne's transfer agent and several broker dealers to have the shares transferred into Kabilafkas' and his associates' names, deposited in their brokerage accounts, and cleared for sale to the public. Also as alleged, Kelly Kabilafkas, through Airborne and its nominal CEO, co-defendant Jack Edward Daniels, spent millions of dollars on an advertising campaign that concealed that Airborne was a vehicle for Kabilafkas's fraudulent scheme. The complaint further alleges that during the campaign, the Kabilafkases and their associates sold their Airborne shares for proceeds of more than $22 million. At the same time, as alleged, Airborne raised approximately $22.8 million from unsuspecting investors through public and private offerings, while Airborne's materially false and misleading statements about the company were publicly available. In total, the Complaint alleged that the scheme raised nearly $45 million.

On September 12, 2023, the Court granted the Commission's motion for summary judgment against Kelly and Tim Kabilafkas, Airborne, and Daniels, finding they had engaged in a scheme to take undisclosed control of Airborne and carry out a "pump and dump" in violation of Section 10(b) of the Securities Exchange Act of 1934, Rule 10b-5 thereunder, and Section 17(a) of the Securities Act of 1933. The Court also granted the Commission's motion for summary judgment for its unjust enrichment claims against two relief defendant trusts controlled by the Kabilafkases.

On November 26, 2024, the Court granted the Commission's motion for remedies and final judgment, finding Kelly Kabilafkas liable for over $44 million in disgorgement, $12 million in prejudgment interest, and $21 million in civil penalties. The Court also assessed civil penalties against Tim Kabilafkas and Airborne, in the amounts of $460,928 and $1,152,314, respectively, and also ordered them and the relief defendants to pay disgorgement and prejudgment interest on a joint and several basis with Kelly Kabilafkas. In addition, the Court permanently enjoined Kelly and Tim Kabilafkas and Airborne from further violations of the antifraud provisions of the federal securities laws and imposed a penny stock bar against each of the Kabilafkases. The Court stayed the case against Daniels, pending the conclusion of the parallel criminal action against him.

The Commission's litigation is being led by Dan Maher and Nick Margida, with assistance from George Bagnall, Jennie B. Krasner, Paul Bohr, Bob Nesbitt, Jeffrey Anderson, and Avron Elbaum, and is being supervised by James Connor and Chris Bruckmann. The SEC's investigation of this matter was conducted by Ms. Krasner, Mr. Bohr, and Drew Dorman, and was supervised by Mr. Bagnall.

https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26242

SEC Complaint:

https://www.sec.gov/files/litigation/complaints/2021/comp25043.pdf

Lol that’d be something

Imagine if Musk hires ABWN

Are you serious? It died years ago never had a chance. It was a scam seriously

Nice. These A-holes scammed me out of $10k. Wonder if I’ll see a nickel out of them. Ever.

lolol. wow.

SEC Wins Airborne Wireless Judgment Over $45 Million Fraud
https://www.google.com/url?rct=j&sa=t&url=https://finance.yahoo.com/news/sec-wins-airborne-wireless-judgment-013805316.html&ct=ga&cd=CAEYACoUMTE0OTg5NTUwODI0NzI3MzIzMDYyGmU5NzM0OWRmYTJjNDIxMjI6Y29tOmVuOlVT&usg=AOvVaw0WhG61NnC3e1yoXJeOjp-8

Nice, Some is paying back now.

10 million whack eh

ABWN: SEC Obtains Final Judgment Against Defendant for Role in $45 Million Fraudulent Scheme

https://www.sec.gov/litigation/litreleases/2022/lr25476.htm

ABWN: SEC Obtains Final Judgments from Two Defendants for Their Roles in $45 Million Fraudulent Scheme

https://www.sec.gov/litigation/litreleases/2022/lr25355.htm

Litigation Release No. 25355 / April 5, 2022

Securities and Exchange Commission v. Airborne Wireless Network, et al., No. 21-civ-01772 (S.D.N.Y. filed March 2, 2021)

On April 4, 2022, the U.S. District Court for the Southern District of New York entered final judgments against Chrysilios Chrysiliou and Panagiotis Bolovis for their respective roles in a fraudulent scheme to gain control of Airborne Wireless Network, promote its stock, and defraud investors.

According to the SEC's complaint, filed on March 2, 2021, Kalistratos "Kelly" Kabilafkas secretly purchased essentially all the outstanding stock of a shell company now known as Airborne, then distributed millions of shares among himself and his associates, including Chrysiliou and Bolovis. As alleged, Chrysiliou and Bolovis participated in Kabilafkas's scheme by deceiving Airborne's transfer agent and their broker dealers in order to have the shares transferred into their names, deposited in their brokerage accounts, and cleared for sale to the public. The complaint alleges that Chrysiliou and Bolovis then sold these shares into the public market while an Airborne promotional campaign was underway, generating proceeds of approximately $1.3 million and $3.8 million, respectively. The complaint also alleges that Bolovis kicked-back all but approximately $4,000 of his proceeds to benefit Kabilafkas and his family.

Without admitting or denying the SEC's allegations, Chrysiliou and Bolovis consented to the entry of final judgments permanently enjoining them from violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and imposing penny stock bars. The final judgments also order Chrysiliou to pay $739,630 in disgorgement plus $112,612 in prejudgment interest, and a $75,000 civil penalty, for a total of $927,242, and Bolovis to pay $4,218 in disgorgement plus $789 in prejudgment interest, and a $50,000 civil penalty, for a total of $55,007.

The SEC's ongoing litigation against five remaining defendants and two relief defendants is being conducted by Daniel Maher, Nick Margida, and Drew Dorman, and supervised by Olivia S. Choe. The SEC's investigation was conducted by Paul J. Bohr, Jennie B. Krasner, Drew Dorman, Jeffrey Anderson, and Robert Nesbitt, with the assistance of the Enforcement Division's IT Forensics Lab, and supervised by Peter Rosario, George Bagnall, and Jennifer Leete.

Current... Meaning? Not sure what you mean sorry.. But I find it interesting that no news has been released regarding court action etc.. Unless I missed it.. I am just here with very few cheap shares waiting for them to become totally worthless.. as if they aren't already!

Current... Meaning? Not sure what you mean sorry.. But I find it interesting that no news has been released regarding court action etc.. Unless I missed it.. I am just here with very few cheap shares waiting for them to become totally worthless.. as if they aren't already!

Any chance this going current?

So why was this written? And... why has ABWN not filed for chapt 7 or 11? Or did I miss it?

Too bad about all this. It was and still could be a viable option to gap communications means.

Fortunately I bought mine at the bottom... but understand how so many who did not are filing suit. I am just hanging on to see what happens. Maybe the ABWN name is worth a few bucks to someone! LOL

https://industrialit.com.au/aircraft-communication-system-market-share-growing-rapidly-with-recent-trends-development-revenue-demand-and-forecast-to-2026/

Interesting....

https://casetext.com/case/tsatas-v-airborne-wireless-network-inc-4

Anyone know which Cemetery this Stock has been buried in???? Or is still stuck in ICU on a Ventilator????

Fast

Oh sure, but watch now.

With fairly regular volume???

Dead company.

Does anyone know what’s going on with Abwn?

Not interested in followers of my portfolio .

Silvertiddy,,,,,So it looks like today you have a 66 percent loss! Nice tax right off dude!

Nobody should be . . .

Interested in my portfolio, not followers.

ho ?

hi

who would buy a dead stock with no product and no future?

Bought 1,986,000 ,.0003, with confidence .

I wonder where the price went.

Gee whizzzzzzzzzzzzzzzzz, 100 percent uh. Will comeback in a month and see if that funny weed smoke has cleared.

You go, girl!

Bought, buying, holding with 100 % confidence.

Maybe some other brokers might still allow it but the window is closing. I heard that some brokers might let you buy these 'dark' stocks if you sign a waiver but I haven't looked into it. But really, there is nothing here. If anyone cared they would audit this up and get their filings up to date. But this was a fraud from beginning to the end. Thats the best way I can explain it.

Hey Master,,, any word on this stock? Ameritrade said sell only? but its still trading from what I see.

My job here is that of a savior, in that I save people money. I'm not really Jesus or anything like that.

Lol ihub know it all. It's trading at the second lowest price to retail. Go spend your time somewhere it's either asked for or really matters sweetheart.

No the Grey sheets will not be another Pink sheets. I see you definitely need protecting.

What with all those 274s & 116s??? Thanks!!!

Yes the dreaded deadline of Grey sheets. I am well aware. You really think the end game here is to save investors or to make more money?? They just gonna make the Grey sheets as the pink sheets once were. Have their own brokers and dealers... really doubt it's 2 protect the little guys... just my opinion.

This is on the Dead List. Pretty soon, probably within a few weeks, buy orders will no longer be accepted. No reason to buy this stock anyway, unless you are looking for a greater fool to sell them too. Time is running out for that kind of nonsense.

Is everyone running 4 the hills? Deadline or lifeline?

Interesting alot of buying today and some 9111s maybe news coming on monday, fingerscrossed

Thats what happens when a stock is fueled by a bunch of lying pumpers. Now lets see who comes up for air.

What ever happened to the MARCHING BAND????? Number of posters said they were buying millions of shares, adding daily. That was around .0006 stock price. Got to see a recent .0002 so will a .0001 be in the cards next????

Don't waste your time on this dead garbage.look for a pink current stock.Big stop sign on otc market.

Any info for Newbies?

Looks like another fraud. ABWN will be sitting on the sidelines anyway.