Scott SilvermanApplied Digital Solutions Share Holder Meeting 2005
Right on the front page of today's Post was a photo of one of my former bosses, Scott Silverman, listed as the 10th top paid executive in Palm Beach County with a total compensation of $5.9 million. No surprise. He was paid well when I worked with him years ago in a public company, Applied Digital Solutions, that grew by acquisitions. Scott also had a law degree and was extremely smart.
While working for Applied, we all eventually grew to believe that the company we worked for was a pump and dump. Some very good people left. When I resigned I walked out the door never to look back. I never gave one good bye. Even Silverman was fired at one time and then was brought back in. He was way too valuable to the scheme and its goals.
Applied Digital, with offices on Royal Palm Way in Palm Beach later moving to Delray Beach, gave the illusion to the public that the company was actually going places and was making money through sales. I used to get calls from people world-wide threatening my life. I had one guy who swore that the government was tracking him through the implantable chip. He was a whacko and he called me often. As a public company, of course, you want the public to buy your stock. It is now out of business after losing hundreds of millions of investor money with top and even middle executives made wealthy, all part of the plan, before the doors were finally shut.
ChipMeNot.org gave out its Hall of Shame award to Scott Silverman, CEO of the VeriChip Corporation (now known as the "Positive ID Corporation"), which markets the human microchip implant. If you read their web site, you really believe that this is a company going places too. Verichip Corporation originally was an acquisition by Applied Digital Solutions, a fine company that manufactured implantable chips for pets. But Applied had a better idea--market it for human tracking. Scott Silverman even went so far as to have a chip implanted in his shoulder...went on CBS promoting the thing.
"In September 2007, the link between implantable microchips and cancer was revealed through AP investigative reporter Todd Lewan's ground-breaking article "Chip Implants Linked to Animal Tumors."
Sensing the imminent demise of his company, Mr. Silverman began flooding the media with inaccurate statements, denial of facts, and outright lies. Details of his numerous misstatements can be found here.
Fortunately, his company's stock lost more than 90% of its value, and at last report, VeriChip (The Positive ID Corporation) was no longer marketing implantable microchips for humans."
The SEC is useless and most public companies know it.
6 comments:
Oh my, I remember that crook and his company. I actually owned that stock that was going to make me rich. LOL They were going to put chips in cattle too. I quess I was one of the many that got the Prod royally.
Should have stuck around, you might be making as much as he does.
The worst thing is that Sec. Commission Exchange allows this type of fraud and scam and Government is somewhat involved as well as many politicians, just follow who are his friends and all the fund raising he makes using public funds that are used from bonuses he gives his "family" close team of scammers that work with him. Sad to say it. Here in NY there is lots of this going on.
As stated, the SEC is worthless.
I'm pretty sure he was short all the way down, so that 90% went it his and his penny-stock-broker's pocket.
Oh how nice to find this blog. It just popped in my head wondering what the scammer Scott Silverman was up to, I got screwed as a shareholder on his many companies. I remember when they changed the name to Digital Angel, and it was run by Joseph J Grillo, and he was clearly part of the sham as well. He would say Scott was no longer involved, yet his office was right next door, and they were supposed to pay out a special one time dividend, and then they lied and took it for themselves bleeding the company dry again...sad that these crooks get away with this stuff...
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