STAR JETS INTERNATIONAL'S CASE: THE SOAP BUBBLE BEGINS TO BURST
Case regarding STAR JETS INTERNATIONAL Inc. (USA) became not just a wake-up call, but a real ALARM signal. Because the information has attracted the attention of large private investors who invested money in the company through the stock exchange. It quickly turned out that Ricky Sitomer had been making a fool of everyone for a long time.
For the administration of BLACKLIST.AERO and third-party investors Star Jets International Inc. it all started with a case created in the Registry. According to the information provided by Claimant in his case, Star Jets booked a charter that was “paid for” with a fake payment.
All further Ricky Sitomer’s promises to fix the situation and send money for the already completed charter did not have any positive continuation. Later, Ricky simply stopped answering emails and calls from Claimant, which prompted the latter to create a case in BLACKLIST.AERO.
The fact that this default is only the tip of the iceberg of debts became clear after the BLACKLIST.AERO Operations team began to study the activities of this company and contacted Ricky Sitomer’s partners, who are not directly involved in managing the company, but are its investors.
As it turns out, Ricky owes them large sums of money. BLACKLIST.AERO’s appeal made them seriously alarmed and they demanded answers from Ricky. But he only mumbled that “Yes, of course, this problem needs to be solved. Everything will be OK”. However, such answers did not satisfy Ricky Sitomer’s partners and they began to more closely examine the activities of the company in which they invested their money.
It is important to mention that Star Jets International is a public company whose shares are listed on the OTC MARKETS electronic platform. It will be interesting to read the disclaimer that the administration of the electronic platform posted on the Star Jets International quotations page:
OTC Markets Group has confirmed that this company has limited disclosure or financial information publicly available, but meets a minimum requirement for public quoting under Rule 15c2-11. The Pink Limited Information tier may include companies that are delinquent in their filing obligations with the SEC, a foreign exchange or regulator, or under the Pink Disclosure Guidelines, as well as non-U.S. companies listed on a foreign exchange that does not require English disclosure and do not certify their compliance with SEC Rule 12g3-2(b).
Well, we don’t yet know all the details that the company’s investors managed to find out. However, as a result of the proceedings, as one of the investors, whose name we will not disclose (correspondence can be provided by the editors of BLACKLIST.AERO at the request of the court), told us - he has already hired lawyers to file a lawsuit against Ricky Sitomer in order to return investments in Star Jets International. According to this investor, Ricky owes him more than $1 million.
The editors of BLACKLIST.AERO have made many attempts to contact Ricky Sitomer via email and messengers. However, he chose to hide and not respond to messages. But we managed to get a comment from the so-called Vise President of Global Sales, who began to say that she has “not responsible for anything” there, and that there are many such “vice presidents” in the company.
“I don’t even have a workplace in the company office! I work remotely and am not part of the company’s staff! I don’t control anything there! There are many of us at Star Jets! Leave me alone!” , she said.
Well, apparently another sign of a bubble company is the presence of “presidents” and “vice presidents” in companies with fewer than 10 employees. “Vice-president for cleaning the premises”, “Vice-president for making coffee”... Well, sounds great!
There is no point in talking about this shady business establishment for a long time. Just stay away from “President” Ricky Sitomer and his inconsequential “Vice Presidents.” And then let Themis speak...
Artem Degtiarov, Chief editor at BLACKLIST.AERO
The covert bankruptcy—legally framed as a “restructuring”—of SIA SmartLynx Airlines (Latvia), along with the highly probable collapse of SmartLynx Malta and SmartLynx Estonia in the near future, has become more than just a landmark event for the aviation market. Its consequences may amount to a full-fledged default tsunami, triggering a cascade of multimillion-euro non-payments across the industry.
Every time I fly to Dubai for exhibitions, I witness the same scene outside the hotels. A Bugatti or Lamborghini pulls up to the entrance, the chauffeur steps out, and hands the wheel to someone walking out of the lobby. It looks predictable — after all, Dubai is exactly the place where many people dream of cruising down Sheikh Zayed Road in a hypercar, showing off status and wealth.
BLACKLIST.AERO is publishing a full list of creditors of SIA SmartLynx Airlines (Latvia). We got it from several sources at once. This list was sent to all creditors by the airline itself along with an official letter informing that SmartLynx started the creditor protection procedure.
The BLACKLIST.AERO Registry Administration has received a full register of creditors of SMARTLYNX AIRLINES (Latvia), which until recently was part of the AVIA SOLUTIONS GROUP holding. In this list, 781 companies are listed as creditors. The amount of debt is truly amazing: more than 238 million euros.
