Owner
Post by Franko10 ™ on Jul 9, 2008 9:30:33 GMT -5
July 08, 2008 04:00 PM Eastern Daylight Time
Permalink
CMKM Diamonds, Inc. Awarded a $33,675,365 Judgment; Begins Search for a New Chairman
TYLER, Texas--(BUSINESS WIRE)--On July 1, 2008 CMKM Diamonds, Inc. was awarded a $33,675,365 judgment in a Nevada District Court against one of the former insiders of the Company, John Edwards. Mr. Edwards was labeled as one of the two “masterminds” of the scheme to defraud investors of over $64 million in a lawsuit filed on April 7, 2008 by the Securities and Exchange Commission.
The Company also announced today that it has begun the process of searching for a new Chairman. Current CEO and Chairman, Kevin West, stated, “I am very pleased with the progress being made through the Company’s litigation. It is time to begin the search for someone with the business experience that is needed to move the Company forward.”
Mr. West is currently appointing a seven member, shareholder based, “Advisory Committee” to help with this process. “Among many other qualities, the person we are looking for will be someone who can see the value of having a shareholder base of over 40,000 people from all over the world,” stated Mr. West. A new link has been added to the Company’s website at www.cmkmdiamondsinc.com for the submission of resumes to be considered for this position. Shareholders are encouraged to direct qualified prospects to this link.
Contacts
CMKM Diamonds Inc., Tyler
Kevin West, 903-262-8397
