Universal Express (abbreviated USXP) claimed to be a

transportation Transport (in British English), or transportation (in American English), is the intentional movement of humans, animals, and goods from one location to another. Modes of transport include air, land (rail and road), water, cable, pipeline, ...

and

logistics Logistics is generally the detailed organization and implementation of a complex operation. In a general business sense, logistics manages the flow of goods between the point of origin and the point of consumption to meet the requirements of ...

service company and was registered in

Nevada Nevada ( ; ) is a U.S. state, state in the Western United States, Western region of the United States. It is bordered by Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. N ...

and headquartered in

Boca Raton Boca Raton ( ; es, Boca Ratón, link=no, ) is a city in Palm Beach County, Florida, United States. It was first incorporated on August 2, 1924, as "Bocaratone," and then incorporated as "Boca Raton" in 1925. The population was 97,422 in the ...

Florida Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to ...

.Complaint: Universal Express, Inc., Richard Altomare, Chris Gunderson, Mark Neuhaus, George Sandhu, Spiga Limited, and Tarun Mendiratta.
/ref> However, investigation by the SEC clearly revealed that the primary business of USXP was the production of and distribution of billions of illegal, unregistered shares. The money from these sales went directly to support the lavish lifestyle of Richard Altomare and his supporters. Some funds were diverted to advertising designed to push the sale of additional shares.

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

Richard A. Altomare took control of the defunct Packaging Plus Services in 1988, and immediately began issuing billions of illegal and unregistered shares of stock, before the company collapsed in 2007. In later years, the company became known for accusations of

naked short selling Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the asset from someone else or ensuring that it can be borrowed. When the seller does not obtain the asset and deliv ...

and questionable S.E.C. filings. A receiver was appointed for Universal Express by a federal judge at the request of the S.E.C. The judge ordered Universal and its top officers to pay $21.9 million and barred them from future penny stock sales. Altomare was ordered to prison for contempt of court in April 2008. In May, 2008, he was incarcerated in the

Metropolitan Correctional Center, New York City The Metropolitan Correctional Center, New York (MCC New York) is a United States federal administrative detention facility in the Civic Center of Lower Manhattan, New York City, located on Park Row behind the Thurgood Marshall United States ...

. Altomare has been barred from being an executive of any public company. A federal court judge, in finding that the company and its top officers had violated securities laws, called Altomare and Universal Express' general counsel, Chris Gunderson, "repeated and remorseless violators" of the securities laws.

Services

The company's UniversalPost network claimed to provide support infrastructure for private Postal Service Centers. Independent contacts with the claimed partner postal center revealed they were not aware of any relationship with USXP. Its Luggage Express service allowed travelers to have their luggage collected and delivered separately from their personal travel arrangements. Michael Xirinachs was charged with engaging in unregistered distribution and sale of over 21 billion shares of Universal Express. He too received an injunction, disgorgement, civil penalties, and a penny stock bar.

References

{{Reflist

External links

The Universal Express Receivership

What Will You Bid for a Lawsuit?

* ttp://www.bizjournals.com/southflorida/stories/2007/12/31/story11.html Fraud, bankruptcies ranged from boardrooms to city halls
SEC- Universal Express, et al. 2008
Companies based in Boca Raton, Florida