TymGlobal operates an internet website which is registered to StormPay
It was Purvis who tipped StormPay, which is the primary sponsor of PurvisA?a‚¬a„? Crate Series car, about the Crate engine, and its future in dirt track racing.
Motors for late model cars can cost $40,000, but the Crate engines cost between $3,000 and $5,000, and their speeds and horsepower are similar to those of the more costly motors.
A?a‚¬A“This whole series is the wave of the future,A?a‚¬A? Girsky said. A?a‚¬A“You can race a car and buy an engine from $3,000 to $5,000 dollars, and race against NASCAR-level competition.A?a‚¬A?
On , the Tennessee Securities Division of the Department of Commerce Insurance issued an “Order to Cease and Desist” (file number 03-020) with TymGlobal, Inc., StormPay, Inc. and John R. McConnell, Jr.
On the internet website, respondents are operating a pyramid and/or Ponzi scheme promising large returns on investments for participating in the scheme
The order states that TymGlobal and StormPay are under common ownership and/or control. The order further states that TymGlobal has not registered any securities offerings with the Division pursuant to Tennessee Securities Act of 1980. Nor has the company registered with the Division installment loans East Chicago IN as a broker-dealer, agent of a broker-dealer or investment adviser. John R. McConnell, Jr. has not registered with the Division as a broker-dealer, an agent of a broker-dealer or as an investment adviser.
Potential investors were given the opportunity to invest in both partnership shares as TymGlobal as well as to participate in various Ponzi schemes. Respondents promised a high return. The offering of participation in the schemes sold by the respondents is an investment contract and thus, a security under the act.
Also, the respondent StormPay has not registered any securities offerings with the Division nor has the company registered with the Division as a broker-dealer, agent of a broker-dealer, or investment adviser
The Division ordered the respondents TymGlobal, StormPay and John R. McConnell, Jr to cease and desist the conduct of a broker-dealer in the state of Tennessee until such time as it effectively registers with the Division. The order did not intend to prohibit lawful conduct of the respondents.
For additional information concerning this order, please contact Daphne Smith, Assistant Commissioner for Securities, State of Tennessee, Department of Commerce and Insurance, Suite 680, 500 James Robertson Pky, Nashville, TN 37243.
Since talking to the governorA?a‚¬a„?s office in Tennessee Stormpay has many complaints in the past about issues frozen accounts. i spoke with Becky Bradley and she has asked that you email any and all information to her about Stormpay wrong doing her email address is [email protected] apparently she wants to help get this resolve in a timely manner.
I have read with great interest of how to make money without trying or working for that matter. About 30 or so years ago a small town near me there came a very greedy person who knocked on doors to say she found $ on the sidewalk in front of their home and in good faith if they would go to their bank and withdraw $ she would share the money with them the elderly woman must be stupid in math because she would get of that money shared and still keep her $ good faith money to prove her honesty . now hold on to your hats, the finder of the moneies gave her an enevlope saying she should hold it and not look inside, she would return to share with her if no one came forward about their lose. Now you all know the scammer never returned so finally after a few days the elderly woman opened the envelope to find cut up newspaper.