SCORE KING ( “ SK “ ) Alleged Fraud Committed by Ronald Rutman

  • “ SK “ was a Hong Kong shell Company , bought for the purpose to increase expenses and therefore reducing profits
  • The concept was , that Score King ( “SK” ) would charge a 5 % inspection fee for all ArtCraft imports into USA and Canada , these funds  would remain in a Hong Kong Company Tax free  
  • The idea came to mind in January 2000 however the charges  and creation of the company was back dated to May 1999,
  • The directors of “ SK” were Seymour Braun ( Attorny ) Canadian citizen residing in Brooklyn NY and the other director was Yardworth Trust ( which is controlled and owed by Seymour Braun as well
  • the purchase of “ SK “ was in January or February 2000 it was back dated to April 1999 ,
  • “SK” on paper had only one employee at a salary of US $ 1,000.00 per month ( US $ 12,000 per year )
  • It was NOT possible that one person  would be able to inspect all those purchases    spanning  over three  countries ( Taiwan , China and Thailand ) and involving over 100 containers a year,  for a salary of  $ 12,000.00 ( this wouldn’t  even cover his travel  expenses
  • During this 4 years period   “ SK” earned close to US $ 2.7 million while the expenses of the so called inspection was  US $ 48,000.00
  • The first invoice was done in march 2000 with an invoice amount of US $ 288,753.00 for the period of May 1, 1999 to Jan 31,2000 and was paid in 4 checks trough Friedberg Mercantile group { “FMG } each check was for the amount of US $ 72,188 the checks were made in March, April, May and June 2000
  • To further prove that SK was  back dated , the bank account only shows activities starting as of March 2000
  • There was no Bank account for “ SK”   only  an Escrow account at Citi Bank in NY under “ BRAUN AND GOLDBERG “ showing as client “ R” which means Rutman
  • The funds of “ SK “ were invested by “ FMG “ with all statements going to Rutmans office at Zeifmans 201 Bridgeland Ave. Toronto  and Rutman putting his handwritten notes on the statements
  • All bank statements of the “ ESCROW “ account were sent to Rutman for review and you can see all his hand written notes on them
  • Factories confirmed that the was NO INSPECTION