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Entrepreneur Prepares $30 Million Legal Action Against The State of NEVADA

Press release June 18, 2009 Business

An Entrepreneurial Alert that every business owner should read, especially if they are located in or thinking about doing business in the Police State of Nevada.

Vancouver, BC (Thurs, June 18, 2009). Canadian Entrepreneur, Peter Ortmann, the Founder and President of former StarFish Capital Partners, a Las Vegas Nevada-based Venture Capital Firm, announced today that he has launched a counter attack against NEVADA for maliciously and needlessly ruining his reputation and businesses, costing him and his Investors millions of dollars in lost earnings and opportunity.

Mr. Ortmann was arrested at gunpoint in a local Las Vegas bookstore parking lot in April 2007 by the Nevada Securities division for selling stock in his OWN privately held NEVADA corporation. He outlines this unbelievable ordeal in his new 132 page full-color e-book called NEVADA Held A Gun To My Head. The book is offered online for immediate download, along with a Document Bundle that includes 12 supporting items and a host of personal videos explaining them. Visit http://starfishpublications.com.

"The State of NEVADA has become a full-blown Police State," claims Ortmann," and despite their false pro-business and entrepreneur friendly marketing messages, outside of some minimal tax advantages, NEVADA offers a very negative small business environment."

Ortmann feels strongly that the jaded and arrogant attitudes found amongst most NEVADA governmental agencies today only serve to diminish the very entrepreneurial spirit that built America in the first place.

Ortmann continues with, "The actions the Police State of NEVADA took against me were unwarranted, unnecessary, unjustified and unacceptable, and despite my unsuccessful efforts to resolve them peacefully with the state over the past two years, the time has now come to go public and expose some people and the hanky-panky that goes on within the NEVADA judicial system."

In 2006 one of Mr. Ortmann's portfolio companies was promoting a very unique rotary-powered, jet-driven surfboard called the TahitiPetey XBoard, which his company spent hundreds of thousands of dollars to promote at boat shows throughout North America.

"We believed the XBoard was the next MUST OWN personal watercraft to hit the pleasure boat industry," Ortmann said. "The only problem was that the publicly traded NEVADA company that was to provide them to us could not deliver them, despite their countless misrepresentations to the contrary.

This resulted in the financial meltdown of his firm, from which he was in the process of recovering from when NEVADA, without notice, seized his assets and arrested him with a series of false charges and allegations. All but one was later dismissed, with Mr. Ortmann entering into a Plea Agreement on one remaining count of Selling Unregistered Securities to resolve the matter.

That's where the story begins to turn ugly, because it is NOT illegal to sell stock in your own private company – entrepreneurs do so all the time to raise capital. But as his book explains in detail, there were several unrelated factors that played a part in this event, which could make for the perfect storyline in a political conspiracy blockbuster motion picture.

"The thing that disturbs me the most is not the XBoard meltdown, but rather how easy it is for these NEVADA state employees to routinely abuse their power to take action against entrepreneurs like me, without calling to discuss the issues or even conducting a proper and fair investigation, before ruining lives needlessly, and in my case the credibility and launch of my Foundation." says Ortmann.

He continues with, "The state used the complaint of a single former Investor, who had already sold his stock back to us, and publicly stated that he was out to ruin me and my company after I refused his terms of repayment for the stock buy-back we had entered into months before. This person used NEVADA to serve as his personal collection agent, and collectively they damaged the financial interests of me and my 14 other Investors in the process. However, NEVADA could care less about that fact.

Mr. Ortmann is putting the State of NEVADA on public notice today that they either:

1) Stop wasting taxpayer money on this unwarranted issue, return his assets and files, dismiss the remaining charge and publicly apologize to him and his wife for impacting their marriage and life (which will cost the state nothing), or

2) Continue this foolishness and face an International legal battle that Mr. Ortmann intends to win, and in the process will seek to recover $30 million plus damages from NEVADA on behalf of himself and his Investors.

"I have had enough of this BS, but will give NEVADA until August 1, 2009 to resolve this issue with me," states Ortmann. "If they are not interested in doing so, than they will leave me no choice but to file a lawsuit against NEVADA here in Vancouver, and through the U.S. Federal court in Seattle.

Mr. Ortmann's proposed legal action is based mainly on the substantial loss of opportunity and ongoing interference the state's action against him have caused in his attempts to re-launch his Foundation, and make good on his repayment promises to his former Investors days before he was arrested.

"NEVADA's actions, not mine, are the sole reason my Investors have not been repaid yet, and they continue to delay that with this black cloud they wrongfully placed over me," states Ortmann.

Some of the charges he intends to file as part of his legal action include: excessive abuse of judicial power, fraudulent waste of taxpayer money, failure to properly investigate or notify his business of a complaint against it, failure to provide his company its due process right to respond to the complaint in a reasonable time frame, making false and misleading public statements about Mr. Ortmann in the media for political motives.

Other allegations include conspiring with a union organization on an unrelated matter to inflict personal damage, willful disregard for the financial interest of all Investors, conflict of interest within the legal proceedings, and several other charges which have collectively damaged Mr. Ortmann's global TahitiPetey brand and his reputation.

"This is not just about me anymore, it’s about the rights of entrepreneurs everywhere within North America," says Ortmann, "it's time that we the people, and entrepreneurs everywhere who create most of all new jobs today, to take back their country and retire the employees who abuse the public's trust and waste their money for no good reason!

It will certainly be an interesting battle to watch as Mr. Ortmann begins his talk show tour in the coming weeks to make his story more public. For media inquires contact [email protected] you may republish this release on or within any suitable online or offline publications.

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