NH firm whose name was used in stock fraud registerd fro 1994-2006
PORTSMOUTH — Wastech International, the company whose name was used in an alleged stock fraud that cost two Port of New Hampshire officials a combined $50,000, was registered in New Hampshire from 1994 to 2006, according to records at the Secretary of State’s Office.
And John Rummler of Kittery Point, Maine, the man charged with fraudulently selling Wastech stock and forging stock certificates, is listed as one of the companies top inventors.
The lawyer that represented the company says it had ambitious plans to develop small-scale waste treatment systems for remote locations, but quietly went out of business in 2006.
The company was registered and filed annual reports with the Secretary of State from 1994 to 2006, when the registration was administratively suspended, according to records at the Secretary of State’s Office. A company called Wastech also registered with the Secretary of State in 1992 and 1993, and withdrew, dissolved or cancelled its registration in 1995, according to the same database.
Rummler is free on $5,000 personal recognizance bail after waiving arraignment. He was indicted by the Rockingham County Grand Jury in May on two charges of theft by deception and two charges of forgery, alleging that he sold 1,000 shares in Wastech International to state Director of Ports and Harbors Geno Marconi for $10,000 in 2005, and around the same time sold 1,200 shares in the same company to Port Operations Manager Alan Cummings for $40,000.
Rummler was booked at the Rockingham County Sheriff’s Office on May 31; he entered a not guilty plea in Rockingham County Superior Court, Brentwood.
The state Bureau of Securities Regulation is also investigating the case, but would not comment other than to confirm that Rummler is not licensed to sell securities in New Hampshire.
Marconi and Cummings have declined to comment.
The company was initially incorporated in New Hampshire in 1992 at an address on West Road in Portsmouth, with authorization to issue 300 shares of stock at no specified value. The next year, Wastech became a Delaware corporation, authorized to issue 10.4 million shares of stock. The company was dissolved in 2006.
“The company did indeed go out of business,” said attorney Richard A. Samuels, a corporate attorney with the McLane law firm who served as the company’s registered agent in its final year of existence. “My understanding is that they attempted to sell the assets and that was unsuccessful.”
Samuels said lawyer-client privilege precluded him from discussing details of the company’s demise. Guy Marchesseault, a Boxboro, Mass., resident, listed as company president, did not return phone calls seeking comment.
A search of the U.S. Patent Office database shows that Marchesseault was issued 35 patents, many of them involving wastewater treatment or purification systems. Wastech International is listed as the owner of eight patents, as of 2003, with John M. Rummler listed as one of the company’s top inventors, according to the patentbuddy.com profile of Wastech International.
Samuels did not encounter Rummler in his dealings with the company. “I never dealt with a person named Rummler,” he said.
A structuring conference for a possible trial in the Rummler case has been scheduled for July 10 at Rockingham County Superior Court.email@example.com