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.