NEW YORK, Aug. 1, 2005 (PRIMEZONE) -- Let it be known that as a result of the BCIT announcement at 10:30 a.m. on 6/13/2005 the company hereby announces the initial interim conclusions of an ongoing investigation.
The company has been the victim of corporate identity fraud (click on the URL below). On 4/21/05 via fraudulent documents filed by a "Louis Lesser" with the Nevada Secretary of State, there was an illegal attempt to take over BCIT by Carter Care Inc. by way of a purported reverse merger (5/12/2005). This occurred without the knowledge and consent of the BCIT shareholders and board. Prior to BCIT being alerted of the fraud, there was no contact with or knowledge of Carter Care Inc. by BCIT and its board. Carter Care was subsequently contacted, and a verbal agreement was reached for a retraction in the form of a wire announcement by Carter Care. However, an announcement was illegally made under the BCIT banner and referred to a reverse merger that had never legally occurred.
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?CorpID=243077
Let it be known that those individuals and corporate entities involved with the illegal takeover of the company printed invalid share certificates with the legend Bancorp International Group Inc. These certificates were signed by Richard Carter of Carter Care, and hundreds of millions of shares have since been printed. These shares are apparently being illegally sold by market maker Sterne, Agee & Leach, Inc. (SACM) http://sterneagee.com, trading office 980 North Federal Highway, Suite 108, Boca Raton, Fl 33432; tel (800) 930 3536. The Birmingham, Alabama office of the Federal Bureau of Investigation has been initially contacted in this regard.
Let it be known that these shares have no value and do not constitute any of the legal equity of BCIT. The official printed and issued shares of BCIT do not exceed 4,890,000 shares which bear the legend March Indy, signed by Thomas Megas. The investigation is ongoing, and state and federal regulators have been made aware of the problem. Attempts to agree to compensation of $2,000,000 for damages have foundered on the issue of criminal liability. The company accepted $50,000 as a partial payment to cover initial investigation expenses and as part of an overall settlement for damages.
BCIT has not signed nor entered into any agreement relating to any gold or diamond mining venture and has made no announcements to that effect. BCIT has made only one previous recent announcement on 6/13/2005.
In November 2004 BCIT commenced bringing its SEC filings up to date and consulted with brokers in the USA and Europe regarding a reverse merger with a European realty business. BCIT hopes to rehire its original transfer agent http://pacificstocktransfer.com in tandem with its SEC filings. On 6/20/2005 Thomas Megas and Martin Duffy were reinstated as officers of the company with the Nevada Secretary of State. On 7/28/2005, Blue-sky Solutions, LLC, having been hired by the fraudulent parties, resigned as investor relations contact for the company.
In the interest of protecting current shareholders who may unwittingly be holding illegally printed shares, BCIT will be petitioning the NASD to enforce SEC rule 203(b)(3) http://www.law.uc.edu/CCL/regSHO/rule203.html and effect a "buy-in" by the parties who originally sold the invalid shares signed by Richard Carter and have effectively "failed to deliver" what they represented as valid shares of BCIT.
Thomas Megas President and CEO Bancorp International Group Inc 15 Onslow Gardens Suite 7 London, SW7 3AW United Kingdom Phone: 44 20 78239258