Late July I took interest in the SEC lawsuit against Tustin, CA based Medical Capital. Over the course of the past 6 weeks, I have been intrigued by the propaganda machine known by parties who read the comments section of Ronald Campbell's OC Register stories as Jason Coombs. A man who seems to monitor the story on a round the clock basis; he has made some valid points, done some tricky investigative accounting from the receiver's report and almost without pause defended the management practices of Medical Capital, a company which it seems has erected a $ 2Billion Ponzi scheme on unknowing investors...investors that were sold Medical Capital as a 'rock solid' investment by licensed brokers. Overwhelmed with frustration from Jason's posts, I decided to do a little web-research on Jason Coombs. Here is what I have discovered:
HE'S INTERNATIONAL:
Jason is quite the international man of mystery. He has business affiliations in New Zealand (PivX), California & Hawaii (Digital Marketplace, PivX, Science.org).
BUSINESS ENTITIES:
By doing a Hoovers search on these companies we find that they do not seem to turn profits. On average .1M in annual revenue. They also don't seem to employ anyone. Of particular interest is his involvement in a Newport Beach, CA web security company called PivX Solutions. This is the SEC complaint that he references from time to time. It seems that he had worked for the company as a contractor, holding a director position until June of 2006. At this point he is appointed CEO of PivX Solutions. The SEC complaint that he filed is against PivX namesTydus Richards, the former CEO. This is where it gets interesting. It seems that after the complaint is filed, PivX announces that Jason is new CEO of the company. The SEC complaint seems to revolve around PivX issuing Jason 10,000,000 shares of stock, valued at .001 or $ 10,000. Interestingly, Jason issued a letter to 'stakeholders' on December 21, 2008 where he informs recipients of $ 125,000 in profit, outlines a plan to raise $ 11,000,000 from outside investors and applauds the company for not being involved in a Ponzi scheme. Bizarre.
In regards to Science.org, again it is Hoovers listed as annual sales .1M with 1 employee. Jason has a lot of different domain names pointed to the same site. And what a site...! I don't think that Science.org is winning any Web 2.0 awards for ingenuity...my ten year old could stilt a better site. Look at the chronology of resumes that he has hidden in the content of the site. Not rocket science. And look at the content! A simple picture of a server with a muddied up phone number. Click it...you will be directed to send an email to the site. I don't think that he is going to compete with computer forensic companies such as Forensicon or Computer Forensics with that lame site. Oh, but NHBC hired him from that. Hmmmm.
CONCLUSION:
All of this information was deduced by following the trail of Jason's resume. I have listed the links to support these theories below. In my opinion Jason has a vested interest in this case for one of the following reasons:
A) The time that he spent in Orange County put him in contact with Joey and Sid who referred his forensics expertise to a case being argued in Atlanta with NHBC, a subsidiary company of Medical Capital. He is buds with those guys and has likely spent some time partying on The Home Stretch. He now thinks that he can manipulate public opinion by turning the spotlight onto a bumbling federal lawsuit. I find it odd that PivX Newport Beach offices are located just miles away from where that boat is moored.
B) He is legitimately owed money by Medical Capital. He was coincidentally working for a MCC subsidiary company NHBC doing his core competency (forensic court testimony) at the same time he was contemplating interesting ways to raise capital in his new role as CEO for PivX. This whole thing blew up and he is fascinated by the inner workings of a Ponzi scheme, evidenced by his obsessive and remarkably scattered posts in the comment section of Ronald Campbell stories.
C) He sees value in NHBC separate from Medical Capital and is somehow planning an attempted purchase of NHBC. Interesting he is speculating values of the company in recent comments, even spelling out ways that investors might see a return on monies invested in that company. This time he might put his name and CEO next to a company that has actual employee.
I'm curious to see what other interested parties speculate about his intentions...he is definitely a real guy and certainly has some strange business models. He is a published writer, one of his books being self-published. I'm curious about how Science.org is a 'non-profit'...everything I read from him shows a profit motive. I find it hard to believe that management of NHBC found his forensics.com website impressive enough to employ him in a multi-million dollar lawsuit, though the ineptitude of many in this case continues to amaze me. NHBC did lose the lawsuit, so I guess you get what you pay for, huh Jason? I also find it very strange that he has affiliation with all of these business entities that have websites and email addresses, but not one working phone number. "The number you have dialed has been disconnected". If you decide to research any of his companies, get used to that message. Jason, please feel free to clarify your intentions or correct any of my speculations in the comments below.
REFERENCE
http://www.pivx.com/Company/contact.html
http://www.hoovers.com
http://science.org/
http://www.science.org/jcoombs/
http://www.science.org/jasonc/resume.html
http://www.pivx.com/Company/8k_jasoncoombsceo_23june2006.html
http://www.accessmylibrary.com/article-1G1-147471686/pivx-solutions-secures-digital.html
http://www.homelandforensics.com/Company/Letter_to_Stakeholders_December_21_2008.pdf
http://www.youtube.com/user/SidnJoeyGoinDown
CORRECTION: I originally posted that Jason Coombs was working with the University of South Wales. This Jason Coombs is not related to the Jason Coombs who has published numerous posts under Medical Capital news stories. I had also posted that Jason's first book was self-published, this being incorrect his first book (according to his resume) is a programming book 'for dummies'.
