HAWK Systems Inc. still trading on Wall Street amidst Ponzi scheme allegations and lawsuits

NEW YORK - June 30, 2014 - PRLog -- Contact:

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HAWK Systems Inc. still trading on Wall Street amidst Ponzi scheme allegations and lawsuits

New York, NY – HAWK Systems Inc. (HWSY), based out of Palm Beach, FL has been seeing some play on Wall Street in the last few weeks amidst Ponzi scheme allegations and lawsuits that are currently in the air.  HAWK, under various names since its inception in 2001, became formally public in 2009 under the title HAWK Systems Inc.  There is no longer a business; website, office, a working phone number or contact information for HAWK Systems which have all seem to be terminated and cease to exist.

HAWK Systems Inc financial records play out like a bad dream as shown on Reuters (http://www.reuters.com/finance/stocks/overview?symbol=HWSY.PK). Former director turned whistle blower Mark Spanakos is the lead plaintiff in 3 of the lawsuits filed against the company executives and their affiliates for using investor money to line their own pockets and indulge in extravagant, lavish lifestyles to the tune of over $22 million dollars.  There are as many as 5 current lawsuits against HAWK Systems Inc.

Former Director Mark Spanakos states, “ Sadly this scam not only has been going since 2000 and it  is  still continuing today, but there are ties to other major Ponzi schemes that the same players are involved in which  some of the players are known felons.” Spanakos also says that after years of seeking discovery through bank records and depositions, the company “has never paid taxes, leaving investors mind boggled on how millions went unnoticed by the banks and the IRS for federal banking regulations when half of the shareholders monies were withdrawn in cash.  They took in millions of dollars from investors, yet leaving 100% loss for those investors.”

In 2010 the NFL even warned their players of potential fraud in a released statement on NBC Sports (http://profootballtalk.nbcsports.com/2010/05/20/nfl-issues-fraud-alert/), yet HWSY still continues to trade.  The SEC, IRS, nor the FBI has done anything to prevent this practice, warn the public or cease trading requested by Spanakos over the past 4 years; HAWK Systems Inc. has made many people victims of their own greed with no visible intentions to discontinue their illegitimate trade. Several NFL players had been scammed into paying 2 to 3 dollars a share, like 2014 Super Bowl champion Anquan Boldin. Spanakos states, “While HWSY was trading at 10 to 20 cents share on the public market, people continued to be swindled into buying more expensive privately held stock, believing they were investing into HAWK Systems.”

While HAWK Systems Inc. still continues to trade even though it is valued now at 1 tenth of a cent per share, the main players that are defendants in the various lawsuits, have moved on, leaving nothing but carnage in the wake of their destruction.  Accusations of money laundering, tax evasion, Florida RICO fraud etc. have been pressed against various directors and shareholders. Spanakos claims show that mostly the elderly WERE targeted victims and that Hawk systems even entered on site military base and events to induce active military personal and senior staff.

The defendants request for dismissal of Mr. Spanakos’ lawsuits have been denied by the State of Florida, leaving over 60 defendants to face trial.