In July 1998, William E. Gabbard, President & CEO, Zoring International, Inc., [an ITEX Corporation Company] entered into a contract to pay $6,550 for ITEX Trade Certificates [a financial instrument recognized by the U.S. Treasury Department and fiduciary instrument recognized by the SEC].
The certificates were delivered to William E. Gabbard per the terms of the Contract Agreement written by Gabbard and by Greg A. Dickey, Partner, Hein & Associates. Dickey was a silent partner in Zoring, a partner in Hein, and had tax and audit authority over ITEX Corporation—all at the same time—a clear conflict of interest.
Gabbard and Hein have been approached in writing numerous times over the intervening years to pay the principal sum of $6,550 plus interest to date of $9,000 = $15,550 as of 03-24. All documented and receipted correspondence requesting payment and that they resolve their Grand Theft, Breach of Contract, and Unethical behavior has been deliberatley ignored.
Meanwhile, having absconded with the fiduciary instrument, shirking their corporate responsiblity, and ignoring their ethical obigations as business professionals, William E. Gabbard has started a derivative company of Zoring International called Licenzor International that employs former Zoring officers, and utilizes many of the same industry contacts and channels.
The companies involved continue to pass the buck one to the other which is a pattern of behavior that enables them to commit fraud while attepting to tie the matter up in legal proceedings that constitute an abuse of process.
Immediate restitution in the amount of $15,550 plus any additional interest up through the date of payment is sought.
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