NanoTech Entertainment Inc (EM) (NTEK)

I thought their failure to make annual filings was was put it on the Pink Sheets in the first place.

Anyway, it seems they're willing to leave the Pink Sheets a no-man's land of massive fraud.

Wanted to point out that I was wrong before when I said Foley'd been acquitted on the NTEK charges. The truth is that the government didn't even prosecute Foley and Co. for NTEK crimes, just NTGL. They went for what they thought was a "head shot", an easy conviction that'd put the man away, without the messiness of prosecuting a stock fraud when so few people are complaining about being defrauded.

I assume they can go back and add the NTEK frauds later on and try him again for those. After all, they've got a ton of evidence from Blankenship and likely Foley's own idiot brother to prove what was going on.

Valid points. Won't it get delisted by not paying its annual listing dues or annual filing statements? It probably should have been auto-delisted by now.

It's not about value, it's about a known fraud being active in the market.
The ceo and the company were total frauds. It was a fake company 100%.
Allowing the stock to stay active only perpetuates the criminality.
BTW- .000001 is worthless to 100% of the retail common shareholders, we can not trade beyond the forth decimal legally and or by brokerage self rules. The cash retail trader is the bottom rung of the shares available.

Allowing the ticker to exist could and has created more graft by selling the shell in which the owner can profit.
The is no value to anyone other than the owner, who, knowing his criminal behavior would simply take advantage of it again.

The SEC was there so it isn't the wild west. Yes, buying stocks of penny companies is a gamble

As far as "still trading" goes, what would you have the government do with all of those people/victims who still own the stock but never bought shares from Foley (et. al.)? To delist the stock would create victims out of every owner. Even if the stock is worthless in the eyse of many, it may have value to some (for reasons beyond me, your and my opinon on its value is not relevent). The market determines value and as such leaving the shares available to trade seems harmless enough at this point. I could see someone taking the company private just to have the shares mounted on their wall of shame....what would it cost? $100 lol.... Regulating capital markets are a tricky thing indeed. It's part "pay your money and take your chances wild west" and "a store of wealth and medium of exchange that is fundemental in keeping America stable and great for business." I honestly don't know what I would do with the stock trading if I ran the SEC. I guess there are not an "net equity" requirements in this part of the markets? Then again I'd be far mroe worried about bitcoin stuff than NTEK....

It's something, but I'm sure it doesn't completely cover all his theft.

He's still a free man as well.

And likely won't do any more prison time.

And yet, the SEC knows all this about this company and it still trades.

Restitution amount of "For the foregoing reasons, it is the government’s position that the most reasonable estimate of the loss amount is $391,367.19. " as of 7/1/26

I didn't see whee the Prosecutors ever said how much money ended up in Foley's hands. What is the actual payment rate on a typical pump and dump. I mean, is it like fishing with hand grenades--where Foley gets 1% of the losses created? Or, is the skim more efficient--like Foley eneded up with 90% of the $400k? The $1m figure seems very speculative as it assumes ((I beleive anyway) that folks not actually participating in the fraud were trading shares creating accidental losses among traders who did not actually trade with Foley (and his co conspirators). I have a masters in finance and accounting and this subjecdt is difficult. I think there should be a law that defines the losses as something like, "the entire price at time of sale IS the value of the fraud upon the people." Then you just take the shares sold x price sold at and bame....Sure you can't tell who exactly was harmed this way, but in general The People were harmed. Seems appropriate, simple, and an effective deterent. As far as restitution goes, leave that up to the victims to provide evidence of their loss---what did they buy at, what did they sell at? bam! There's their loss whcih would be 100% attributable to the pump and dump scheme. Sure 1000 other reasons for losses are removed. Treat that as further deterence to criminals. This 100 page document is painful to read and more painful to understand.

Here is what the analysis of investor losses says "22. In sum, using the methodology discussed above with bluesheet data to determine potential investor loss in NTGL during the period of December 11, 2015 through August 31, 2016, there were 123 accounts with overall losses. These customer accounts reflected $391,367.19 in total estimated losses. Alternatively, using the Modified Rescissory Method set forth in the Sentencing Guidelines, there is a total estimated loss of $1,090,557.63. "

DAVE:

DAVE:

Thanks, you rattled me for a sec.

Are you saying it's over? coyote is a free man?

No. There was a conviction on some of the NTGL stuff, and some here are claiming that will still be sufficient to put him in prison for a long time. I think that's wishful thinking, and the main body of his criminality (i.e., NTEK) got a pass. Maybe the judge can still sentence him based on the NTEK fraud, but that's fine bait for an appeal, since the jury failed to convict on that score.

It seems likely he'll do at least some prison time, but based on the small $400K NTGL fraud, not the millions he scammed with NTEK. As such, my instinct says it'll be substantial, given his prior convictions and overall shady behavior, but not the 30-40 years some are predicting.

That said, what do I know? Others here seem much more knowledgeable about the legal system.

Are you saying it's over? coyote is a free man?
Presently or a past case?

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$NTEK

not sure what happened to all the fraud here at NTEK

What happened was the Feds failed to secure a conviction on the NTEK fraud. Foley was acquitted, which is quite astonishing considering the magnitude of the fraud committed in plain sight.

I can only assume that the same federal prosecutors who ticked off the judge in the sentencing hearings are the same buffoons who botched the prosecution in the first place.

Seriously. Something like a decade of blatant evidence couldn't get a conviction.

hey bev, long time. here is the doc, not sure what happened to all the fraud here at NTEK.

https://www.scribd.com/document/1050612910/foley-6-12

FYI: The Govt filed today as was previously directed by the judge. I am out of the country at the moment and don't feel like phone scrolling with spotty internet - i just glanced at the Supplemental filing. perhaps someone else can digest the full filing and report.

So the coyote is letting numerous domains go stale. deckthehousemusic.com no longer exists, plus a few more.

Staying on the sidelines,  this entire market is way overpriced. 

Many of us here played scam buster on NTEK........One thing we learned was to keep our prejudices and politics away from purely stock oriented boards

There is an open media and tech board you may enjoy all things considered

I don't think his lawyer had anything to do with this.

I think the government's prosecutors were sloppy. The judge's reasoning that they had to do it again, and right this time, was prompted by his attempting to make sense of their filing, not because of any motion by the defense.

And they don't seem to be in any hurry to correct their screw-up, either.

I get the impression that prosecution a Pink Sheet pump-and-dump stock isn't a very high priority for the feds. Which would also explain why it took the SEC a full decade to even notice all these crimes done in plain sight. It's caveat emptor, effectively, for that part of the market.

I think it'd be different if the NTEK investors themselves were pressing this. But they're pretty well hoodwinked and don't seem to mind at all that Foley stole their grandmother's life savings.

Jesus Christ. I'm so sick of this shit.

Obviously his lawyer isn't a complete loser.

...

A sentencing that will likely be postponed, as well. When you spend your entire life learning how to scam people, default on mortgages, manipulate the judicial system and use stolen money to live the high life, you get to be pretty good at it. FatAss Foley could now teach a master class on the subject.

I'm so glad that coyote has walked away yet again to live whatever life he has as free.
The silence can only mean he's off for another year until next sentencing.

It's now well into may and no news of the coyote's serving of justice on the horizon.

That is just sickening. How the fuck can lawyers be unprepared with this guys docket history right online?
Is that part of the ruse the defense uses to force new lawyers for the prosecution each time so they have to delay to get caught up.

Something is seriously broken there.

Speaking of scamming... what's up with the coyote?
He got out of another sentencing didn't he!

He didn't do it this time. Looks like the prosecutors were unprepared and the judge threw their sloppily prepared arguments back in their face and ordered them to do it better.

I don't think there's been a new schedule set, but these things tend to take months to sort through. Hoping not this time.

I get the impression that, much like the lax SEC enforcement in the lawless zone of the Pink Sheets, maybe the government doesn't spend its finest lawyers on prosecuting this sort of sleazy fraud.

Is that actually stopping this scam from being delisted?

Speaking of scamming... what's up with the coyote?
He got out of another sentencing didn't he!

Sounds logical,,,,My first impression was boy oh boy they're only considering 400k and even that was not well explained?.....which of course wouldn't scratch the surface...So I hope you're right...

Secondly, Foley obviously showed up, he is in country

Past that there's no use in too much speculation, I hope your logic prevails
(Appeals, lol you just had to bring that process up... Lawyers abuse the system to the last straw, what might they do here)

The saga continues and it won't be over till it's over.................

The good news of course here is that this judge is actually familiar with the case down to its details.

He knows exactly what Foley did. Here, he's berating the prosecutors for putting forward a sloppy case that doesn't even explain the loss calculations.

This is a very good sign. No one who's aware of what Foley and his merry band of thieves did will let him off easy.

The main challenge is to avoid appeal fuel.

NOTIFICATION OF DOCKET ENTRY (April 23rd)

This docket entry was made by the Clerk on Thursday, April 23, 2026:

MINUTE entry before the Honorable Steven C. Seeger as to David Foley: The
Court held a second installment of the sentencing hearing on April 23, 2026. The Court
began by addressing the Sentencing Guidelines, and discussed the loss calculation as part
of the calculation of Foley's offense level. The government seeks a 12-level increase
based on the notion that investors suffered a loss of more than $400,000. See U.S.S.G. §
2B1.1(b)(1)(G). The government relied on a declaration from Deborah Oremland from
FINRA. See Decl. (Dckt. No. [272-1]). According to her declaration, investors suffered
losses totaling $400,238.03 from December 1, 2015, to August 31, 2016. Id. at ¶ 10. The
Court raised a few questions about that calculation. By the look of things, the government
simply calculated the amount of money that investors lost from December 2015 to August
2016, without explaining those dates and without offering much of a rationale for tying all
of those losses to the fraud. After taking a break, the Court raised more questions.
Ultimately, the Court decided to adjourn the hearing, and requested supplemental
submissions. As explained at the hearing, the Court needs more specifics from the
government to support its request for a loss calculation of $400,238.03. It would help to
get more information about how, exactly, the government got that number. First, the
government must provide information about the alleged losses suffered by each investor,
including the dates of purchases, purchase price, dates of sale, sale price, and the total
amount of alleged losses. Second, the government must aggregate the data and provide
monthly loss amounts for investors as a whole. Third, the Court needs more information
about the purchases by Blankenship and any other purchaser who bought stock at the
behest of Blankenship. Specifically, the Court needs to know the dates and amounts of
those purchases. If the government is arguing that pumping increased the price of the
stock, and then led to losses, then it would help to have more specifics about the timing
and amount of the pumping. Fourth, the government must justify the beginning date and
end date of the alleged loss period. That is, the government must justify a start date of
December 1, 2015, and an end date of August 31, 2016. If the government suggests new
start and end dates, then it must justify those dates, explaining how they relate to Foley's
fraud. Basically, when did the "pumping" begin, and when did harm to investors end?
Fifth, the government must provide information about the price of NTGL stock during the
relevant time period. A graph would help. Finally, the Court would appreciate receiving
more information about purchases of stock during the pre-River North period, before Galaxy
(meaning the company affiliated with Foley) sold NTGL stock to River North in January 2016.

This Court is not limiting the information that the government can
provide. The government may provide any other information that might assist the Court in
evaluating the loss calculation. The Court directs counsel to propose a briefing schedule,
so that defense counsel has a fair opportunity to review and respond to the government's
submission before the sentencing hearing resumes. The Court thanks counsel for their
anticipated cooperation. Mailed notice. (jjr, )

ATTENTION: This notice is being sent pursuant to Rule 77(d) of the Federal Rules of
Civil Procedure or Rule 49(c) of the Federal Rules of Criminal Procedure. It was
generated by CM/ECF, the automated docketing system used to maintain the civil and
criminal dockets of this District. If a minute order or other document is enclosed, please
refer to it for additional information.
For scheduled events, motion practices, recent opinions and other information, visit our
web site at www.ilnd.uscourts.gov.


https://www.courtlistener.com/docket/48919689/united-states-v-foley/?page=2

Down load pdf, not sure why it formatted the way it did previewed fine....

I don't like the delay we're seeing again.

90% of churches are likely frauds.
But I don't recall coyote starting any churches, unless he started a mormon church and is in hiding.

You could always write a letter to the sentencing judge and let him know how you feel.

I don't have a lot of standing, having wisely chosen not to invest in any of Foley's crooked companies.

I mean, sure, I'm a witness here to sh*t that was said, but all those things are on the record already, and I'm pretty sure the judge wouldn't want to listen to 3rd parties with no legal background. It seems that shajandr has likely sent off his observations, whether to the judge or the prosecutors, and I trust he'd have sent it through the proper channels and in the requisite legal format.

Whether it has an impact on the judge's reasoning is unclear.

I have acquaintances, who know him and say he’s living high on the hog still. Tons of money to spare and spend on lavish hotels and the like. How is this possible for somebody who has committed financial crimes to not have their assets taken away to pay back restitution?

The original complaint said they already rated his Cayman island accounts in order to secure evidence?

Also, what is Lease A?

Is that another business that he and his wife have been allowed to start.? From what I understand once you have Fraud churches, you can’t just start up again and lastly, why is she not part of the sentencing? She ran the whole gambit when he was in prison

You could always write a letter to the sentencing judge and let him know how you feel.

Well, fingers crossed that this judge throws the book at Foley, even if he has to go off-book to do it, but I hope he does it in a way that isn't obvious fuel for the endless appeals we know Foley's going to make.

I mean, he brought the plea deal that he broke instantly all the way to the 9th Circuit, and would've brought it to SCOTUS.

If he's going to drag out his appeals, I do hope he gets to do it from a prison cell, and doesn't get to spend the next decade defrauding Maserati mechanics and living large.

A Federal judge determining a felony sentence can take into consideration MANY factors which do nott require a criminal conviction, such as a pending SEC case against the felon, the felon's credit history, bankruptcies and failed BK filings, the felon's employment history, military discharge status, driving record (civil violations, whether nolo contendere or adjudged liable by court), education, community service or lack thereof, and many other non-criminal factors.

These do nott figure into Sentencing Guidelines calculations, butt they can and should be considered by the sentencing judge as he/she is nott bound by the Sentencing Guidelines number. A Federal judge can determine that the Sentencing Guidelines calculation understates the seriousness of the offense and the offender's punishment, such as understating the real world losses suffered due to fraud by the defendant whether charged/convicted or uncharged (e.g., NTEK losses). This judicial discretionary deviation from Sentencing Guidelines calculated sentence can be either an upward departure or an upward variance. The former requires the judge to explain in detail and justify the departure, citing facts considered and reasoning, and the latter (upward variance) does nott require the sentencing judge to detail the justification of his/her decision.

Further, IIRC (with~OUTT redoing research), I bleeve all of DaFoleyFelon-Coyote's co-defendants in the pending SEC case, other than his ditzy, uneducated wife, Lease-A, have settled their parts of the case with the SEC and accepted responsibility/liability. The sentencing judge can also take that fact into consideration when deciding how to weight the importance of DaFoley's role in the NTEK and NTGL civil fraud damages suffered by shareholders of both companies - again NOTT including the NTEK losses directly in the Sentencing Guidelines calculation, butt taking consideration of these losses when deciding whether the Sentencing Guidelines calculated sentence understates the severity of the crime and other intangible issues relevant to determining the appropriate sentence to impose on this defendant in these circumstances - e.g., need for deterence, likelihood that the felon will recommit crimes, as a public example, etc.

The Federal Sentencing Guidelines are only that: guidelines. The judge is free to impose any sentence s/he chooses up to the statutory maximum of the crime of which the felon has been CONvicted. This also applies to whether two sentences for two CONvictions are served concurrently or consecutively.

HTH.

I should have added that it is a "due process" problem (to me) because acts that weren't proven are used to increase or decrease a sentence (as you allude to) but also an "equal protection" problem because people are not being treated as equal for violating the same law. (just fyi amendment to my original reply).

I'm an attorney and have struggled with this myself. So, I don't have a compelling answer for you. The theory is that sentences are supposed to be tailored to individual crimes and criminals. Deterrence and rehabilitation are the stated goals. Therefore, all relevant conduct (good & bad) is to be provided to the Judge so accurate "tailoring" can be achieved. Pretty weak theory to me, but there you go.

uncharged crimes can be part of an unrelated sentencing hearing. So NTEK fraud can be included. (FYI).

How does that work in such a way that doesn't violate due process?

I know they did that to Foley when he plead away a lot of his charges on his first fraud conviction w/GlobalVR, by bringing back charges that he believed no longer existed, even though the convictions the prosecution won certainly meant that he actually did the deeds the other charges claimed.

But that was a plea deal. He was acquitted of many (maybe all?) of the NTEK charges, which says to me that the jury were idiots, but still, it's the system we have.

Doesn't that get him a pass for most of the NTEK fraud?

uncharged crimes can be part of an unrelated sentencing hearing. So NTEK fraud can be included. (FYI).

Did they move coyote to June? No new info yet.

Yup, and prolly one that will move Bennie's sentencing date back from 08 June until late June or July. HOWEVER, this is nott badd news as I have never understood why the Gubmint's loss calculation is so low. NONE of the shares issued as a result of the fake debt note are legal - every one of those 19 million shares is illegally issued based on a fake debt note. The GROSS sales of those 19,000,000 NTGL shares into the public market at retail selling price is the correct calculation of the loss to NTGL shareholders.

IF the Gubmint getts it right this time, I expect the loss calculation will INCREASE. And I speculate that this is the thought of Judge Seeger as well. He is a very savvy securities lawyer. The pump was used to generate the volume needed to sell those entirely bogus shares into the market of this otherwise thinly-traded stock. Ergo the measure of the economic loss to NTGL shareholders in toto is simply the total proceeds of the retail sale of the 19,000,000 fake shares into the trading market (by Foley's nominees RIVER NORTH and the Texass guy CHAVEZ).

FOLEY's offense level total should be AT LEAST 34 and his Criminal History is AT LEAST 3 and arguably 4. I have him at 35 or 36 offense level points and that is being CONservative in his favour! The Gubmint has underestimated the Sentencing Guidelines calculation - in FOLEY's favor. Now the Gubmint has the chance to correct its errors - thanks to Judge Seeger who I suspect is a lot smarter (and clever) than the defense and Coyote realize. Plus Judge Seeger is working diligently to create a record that makes this case rock solid against the inevitable appeal(s) Coyote will pursue.

Coyote has fucked up every legal move he has ever made - from two divorces, his criminole indictments, his mortgage foreclosure, his BK filings, his eviction, his Signature Jets and Maserati mechanic cases - every single thing fucked himself over. This will be no different.

I look forward to seeing his face again when the third installment of the sentencing hearing occurs - and he finds ~OUTT that he would have been MUCH better off if he had accepted the $400K loss calculation that he will be when the laser light is shined upon how the loss calculation really should have been done.

In only one sense is this a win for Coyote. As I've maintained all along, as it's unlikely that he will survive his prison term, his best strategy is to delay his entry into DaHole as long as possible, as this maximizes his total free time; once the steel door closes, I highly doubt he will ever be released other than feet first.

BTW, the CONcurrent SEC case (which includes NTEK as well as NTGL) states that RIVER NORTH and CHAVEZ sold the fake issued stock (of both issuers) for over $17,000,000 of which FOLEY received $12,500,000. Judge Seeger is aware of the SEC case and the fact that the NTEK and NTGL shares involved are parts of the same general fraud scheme; whilst the NTEK numbers cannot be included in the Sentencing Guidelines calculation, Judge Seeger can consider these intertwined fraud losses/gains as part of a broader decision for an upward departure or upward variance (these are two different things) in deciding the criminal sentence for Coyote in the NTGL case - even tho the criminal case was only about NTGL.

Poor Coyote, he just fucks up over and over. Funny stuff coming as the FOLEYS are pro se (i.e., without lawyer representation) in the SEC case. Sit back and watch him fuck that up very badly. He is just like Wile E. Coyote in that he getts smoked by the Roadrunner every time and his stupid schemes always blow up in his face. Butt this is nott atypical with psychopaths who always overestimate themselves and their cleverness. DAVID RUSSELL FOLEY simply represents a failed life. An error of nature. To the extent that his life of fraud and lying has any value at all, it is only to serve as a negative example for others to avoid doing. FOLEY is brokeass, homeless, unemployable as a four-time felon, has NO retirement funds (he put everything into real estate and lost all), and he's facing a very long prison term that is de facto life for him. Holy hell has he fucked up his life!

FOLEY's father, RAYMOND, died at age 62 and he was a generally athletic dude. FOLEY, as of 03 April, has regained much of the 819 lbs he claims, in aggregate to have lost at Taft. FOLEY is a myocardial infarction or occlusive stroke waiting to happen. And you know how medical care is in the Bureau of Prisons. This October FOLEY will be 61. His life was pointless. In real terms he accomplished nothing, simply financial cheating nott meaningful production of any sort. Well, he does have that hokey computer enclosure design patent (design patents are for only ornamental features, not for inventions that have utility - those are utility patents and what most people think when they see the word patent). Design patents are really quite frivolous and very easy to obtain. Nott exactly something to look upon as one's lifetime achievement.

FOLEY racked up numerous bankruptcies going back a few decades, has two divorces and then married Lease-A who evidently has at best a high skool education and, based on her letter of support for FOLEY's sentencing, is a very poor writer and thinker, possibly a dullard. He seems to have produced one offspring, so that may be his only real accomplishment. Other than that, his life has been and will remain a null set - albeit one that has left a trail of damage, deceit, and waste in his wake.

So, now what? Another delay?

Agree. This could have been demanded at the last hearing in preparation of today's sentencing.