SOURCE: BioTech Medics, Inc.

BioTech Medics, Inc.

July 08, 2011 11:53 ET

BioTech Medics, Inc. Wins $1.78 Million FINRA Arbitration Award Against NevWest Securities

DALLAS, TX--(Marketwire - Jul 8, 2011) - BioTech Medics, Inc., (PINKSHEETS: BMCS) announced today that it has been notified by a FINRA Dispute Resolution Arbitration Judge that BioTech has been Awarded $1,788,841.00 in compensatory damages, plus 6% per annum pre-award interest from November 8, 2007, plus post interest, legal and filing fees.

The FINRA award originated from the criminal illegal manipulation, forgery and theft of BioTech stock by a group of ten or more individuals who have been indicted by the US-DOJ, US-Attorney General, Las Vegas in the matter of USA vs. Jeffery G. Turino, et al. The Board of BioTech has successfully claimed and proven that BioTech stock was illegally manipulated, forged and stolen since October 1, 2004. BioTech became a public company on December 7, 2004 in a reverse merger with Corbel Holdings, Inc.

BioTech claimed that NevWest failed to file Suspicious Activity Reports (SARs) on the trading of BioTech stock, violated state and federal securities statutes, violated Section 27.01 of the Texas Business & Commerce Code and violated the consumer protection statutes.

The Board of Directors issued a statement that on behalf of the legitimate BioTech shareholders they are pleased with the FINRA Award. They wish to thank the law firm of Shepherd Smith Edwards & Kantas, LLP. BioTech also has several other FINRA complaints filed against other securities brokerage firms regarding the same issues as well as a Nevada lawsuit against Wells Fargo Bank NA, et al.

BioTech is affiliated with drug-free BioTech Laser pain management centers. BioTech is the manufacturer of SHBAN Alcohol Free Hand Sanitizer. SHBAN is superior to alcohol hand sanitizers because it is long lasting and non-flammable. SHBAN is colorless and is gentle on hands.

Safe Harbor: Forward-Looking Statements
This release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). In Particular, when used in the preceding discussion, conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed. The FDA has not evaluated the SHBAN statements above. SHBAN is not intended to diagnose, treat or cure any disease.

Contact Information

  • Contact:
    Tom Wood
    Sr. V.P. Sales
    Phone: 972-274-5533