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Is M-1 a scam?

Let’s ignore for a moment that M-1’s main financial backer Michael Baybak is part of a religion that has a reputation for bilking it’s members of all their money. I’m not the religion expert, so I’ll let Jake deal with that specific issue. What I do want to talk about is how this guy also has a reputation for artificially boosting his stocks and then selling as soon as they’re high:

Neither man agreed to be interviewed for this story, yet both threatened legal action through attorneys. “What these guys do is take over companies, hype the stock, sell their shares, and then there’s nothing left,” says John Campbell, a former securities lawyer who was a director of mining company Athena Gold until Baybak and Gerbino took it over.

The article this came from goes on in detail regarding many of the operations Baybak has been in that have collapsed and deals that have fallen through as a result of misrepresentation. Baybak actually sued Time regarding the article and as a result Time added the following caveat to the article: that they were not accusing Baybak of illegal activity or of being a “Scientology front.”

I’m not about to put my ass on the line with lawsuit-happy Scientologists … as with everything on this site, it’s my uneducated opinion and I provide links to facts that should be taken with a grain of salt based on their origins. All I’m going to say for sure is that at first glimpse M-1 seemed pretty shaky and at second glimpse it’s starting to look downright sketchy. If it wasn’t for Monte Cox at the helm I’d have already written this organization off as complete trash. As it is, I’m still damn skeptical that they’ll even manage to pull off a single event.

  • Chuck says:

    FEDOR VS LORD XENU 2008!!!!!!!!

  • kentyman says:

    Mormons FTW.

  • Matt says:

    Their website looks like it came from a template. If they are shelling out 12mil to Fedor, they could atleast get a professional looking website.

  • sonzai says:

    The guy also did business in the VSE (Vancouver Stock Exchange). To a Vancouverite like myself, that’s big, honking red flag. Just google “vancouver stock exchange+corruption” and see what you get. At one time in the 90s, it was considered the most corrupt stock exchange in the world. Not G-8, not OECD 20, but the world. More food for thought on the M1 deal.

  • Xavier says:

    For people who are into gaming, think the “Phantom” debacle.

    It’s a stock scam. They’ll sign a couple big names, make big promises and get investors. Then those investors will lose their ass because this shit is never going to go down, the company will fold under it’s own promises and guys like Baybak will run off with even more cash.

  • Ted Dibiase says:

    looks like fedor is gonna be their hype machine.

  • ajadoniz says:

    AH, Fedor IS a robot! Scientology will conquer all!

  • garth says:

    The real problem is that you’ve all got body Thetans all up in your shit. You need to be cleared. Good lord i hate fucking scientology.

  • rob daniel says:

    Vadim Finkelstein is not looking out for his client’s best interests. He’s looking out for himself. Vadim wanted the UFC to promote w/ him in Russia and sign a bunch of his Red Devil fighters. Crazy Russian is correct, Dana. Of course the UFC is not going to agree to that, so what does Finkelstein do? Despicable.

  • Cyrus says:

    If this does have to do with Scientology, I’m out. Connections with scientology, not even mafia and unsolved murders, is about the only thing that could get me to turn my back on Lord Fedor. As a note, Fedor vs. Xenu would be a cool fight. Probably would end quicker than you could say “operation freakout”, tho. Xenu’s not got much of a ground game.

  • Swedish guy says:

    Did anyone see the BBC Panorama on Scientology? It’s probably available on just about any P2P site… anyway, the english reporters were followed around by a scary dude (not physically scary, more like I am insane-scary) who looked just like Tom Cruise and at one point the reporter lost it and started shouting at the scientology freaks. Kinda cool.