home | about us | contact | site map | credits | disclaimer | bookmark

Online Casino News

Friday, September 26, 2008

Cold Mountain Resort and Kevin Stillmock's million-dollar fraud

***Update May 2011***:

I realise that, having updated the title of this article to reflect the nature of the deceipt practised by Kevin Stillmock, I have only alluded to the details in the text and following comments. I'll briefly expand:

Investors were sent a contract, stating that their funds would be sent to the project developer, one Arve Haugseter of North Capital, a Norwegian company. The contracts appeared to be signed by Haugseter - here is the signature, as it appears:

forged signature of Arve Haugseter

Investors took this in good faith, and went ahead with the project.

It subsequently turned out that the signatures on the contracts had been forged. Arve Haugseter, in a PDF file letter to the investers, denied any knowledge of them, saying that they looked like a stamp of some kind - it resembled his signature and was identical across all documents. Here's the relevant part of his public statement:

Another developer who had worked with Kevin Stillmock also suggested to me that he had been subject to just such a scam, and had apparently gone somewhat further in investigating the matter of the signature forge stamp than had been the case with our own developer.

There is no question that these signatures were forged, be it by stamp or other process. As such, a great deal of money was obtained by Kevin Stillmock by fraudulent means.

It isn't yet clear whether this was designed as a scam from the start, or that is was the result of a keen property broker who got out of his depth. However, in either event, money was obtained by deception, ie. this was a fraud.

Investors are still owed the better part of a little short of a million US dollars by Stillmock, who has not, to date, demonstrated any intention of returning it.

***End of update***


(The following is the original article)

Cold Mountain Resort Issues is my latest blog project, non gambling-related and born out of unfortunate necessity.

In early 2006, a bunch of investors, myself included, were presented with the opportunity to invest in a Romanian luxury hotel complex called the Cold Mountain Resort, on what looked like highly advantageous terms. The project appeared to quickly come apart at the seams with endless delays and lack of communication, and the investors were ultimately left looking to recover their initial outlay as per an agreement with their agent and the company holding the funds, the total of which amounts to approximately £650,000 GBP, or around $1,100,000 USD.

Although this initially appeared a straightforward matter, none of the approximately ninety Cold Mountain investors with whom I've been in contact have had been refunded, and the business holding the funds, Global Wealth Managers, run by one Kevin Stillmock, has gone into aggressive non-communication mode, with occasional appearances threatening legal action but otherwise complete silence.

The matter now looks like being resolved in the US courts.

The currently one and only topic on the board is the Cold Mountain Resort discussion.

Speaking as a gambler to fellow gamblers: if you are contemplating investing in Romanian property market, or any other high-risk venture, in the current economic climate, think hard. Having thought hard, think a bit harder. Having thought a bit harder, you are probably still best advised keeping the money you put aside for a rainy day where you put it, as it's going to rain a lot harder before things get better, in the Romanian real estate business or elsewhere.

8 Previous Comments

The Cold Mountain situation has not moved on much in practical terms in the three months since I posted this topic. Statements have been issued, in various formats, by all parties involved - The Norwegian developer North Capital, the agent Arc Property and the "guardian" of the investors' deposits Global Wealth Managers. Serious issues of impropriety have been alluded to, and there have been allegations and counter-allegations. None of the above appears to have moved the investors much closer to being reunited with their deposits.

By Blogger 100% Gambler, at 1:00 am  

There have been some important developments over the last few days in the ongoing problem Cold Mountain Resort. They are not available for public consumption, but if you are involved please contact me here:

Cold Mountain resort administrator contact page

I will need proof of investment, or verification of your genuine status as a Cold Mountain Resort investor from the agent, Arc Property.

By Blogger 100% Gambler, at 11:49 pm  

Kevin Stillmock of Global Wealth Managers remains, oddly enough, in contact with investors.

The approximate $1,500,000 that Stillmock and GWM received in the form of investor "reservation fees" for units in the Cold Mountain Resort remains unreturned, and investors continue to pursue their legal options against all parties involved in this property scam.

By Blogger 100% Gambler, at 12:38 am  

Romania Report is another of Kevin Stillmock's web projects, focussing on the Romanian property market.

Take a trip halfway down the page and you'll find a link to the Wild Foxes Ranch Club Resort, inevitably another hotel / apartment complex described as "the opportunity of a lifetime".

Wild Foxes was offered to the Cold Mountain Resort investors as an alternative to receiving a refund of their Cold Mountain reservation fees - fees which have still not been refunded to any of the investors with whom I'm in contact (and I'm in contact with most of them).

The one investor I'm aware of who accepted the offer of transferring his Cold Mountain Resort rights to Wild Foxes has, to date, received no legal paperwork pertaining to his new entitlement. He has received many assurances as to the future promise of the investment, but having been on the receiving end myself of many such unfulfilled assurances from Kevin Stillmock, I tend to regard all such claims as fantasy.

I can find no independent corroboration that the "Wild Foxes resort" has planning permission, a build date or is in fact anything other than a web page designer's fantasy.

I hope that Wild Foxes will not end up costing investors the better part of the USD $1,500,000 that the Cold Mountain Resort investors ended up losing.

By Blogger 100% Gambler, at 2:52 pm  

Carpatia Resorts is a blog set up for issues regarding the Carpatia Resorts development in Romania. It was brought to my attention by a poster on a blog discussing a sister project to the Cold Mountain development that the above article relates to, and some of the people behind Carpatia are also behind the other project.

By Blogger 100% Gambler, at 2:51 pm  

Here is the link for the latest legal situation regarding the Carpatia Resort project.


By Anonymous Anonymous, at 7:17 am  

Kevin Stillmock has a new project - see the Count's Challenge article for more details.

The site I linked to above, "Romania Report", is now gone, along with any reference to the Wild Foxes apartment complex that was offered to investors as an "alternative" to the Cold Mountain project. Along with much else in this matter, Wild Foxes appears to have been another fraud attempt. Although all original content is now gone, you can view here the original Wild Foxes marketing document.

By Blogger 100% Gambler, at 2:31 pm  

Hallo, Im a Norwegian reporter, investigating these Cold Mountain project. I have just visited the site in Rasnov. Investors, please contact me: jon-inge.hansen@varden.no

By Anonymous Jon-Inge Hansen, at 10:31 am  

Post a Comment

May 2005 | June 2005 | July 2005 | September 2005 | October 2005 | November 2005 | December 2005 | January 2006 | February 2006 | March 2006 | April 2006 | May 2006 | August 2006 | October 2006 | January 2007 | February 2007 | March 2007 | May 2007 | June 2007 | July 2007 | January 2008 | February 2008 | March 2008 | April 2008 | June 2008 | July 2008 | September 2008 | October 2008 | December 2008 | January 2009 | February 2009 | March 2009 | May 2009 | June 2009 | July 2009 | August 2009 | September 2009 | October 2009 | November 2009 | December 2009 | January 2010 | February 2010 | March 2010 | April 2010 | May 2010 | June 2010 | July 2010 | August 2010 | October 2010 | November 2010 | December 2010 | January 2011 | February 2011 | March 2011 | April 2011 | May 2011 | June 2011 | July 2011 | August 2011 | September 2011 | December 2011 | February 2012 | May 2012 | July 2012 | August 2012 | March 2016 | April 2016 | June 2016 | November 2016 | December 2016 | March 2017 | May 2017 | June 2017 | August 2017 | Atom feed
© 2005 hundred percent gambling


• Online casino news


• Can't split 10s?
• Overbetting
• EV charts
• The IPCA
• Basic strategy master
• Back to the future
• Site hack


• Better comp value
• Pit bosses are a pest
• 32Red buys Roxy Palace
• Winneronline is gone
• Paradise Win Casino
• Blackjack simple strategy


• Court refuses Ivey winnings
• Phil Ivey versus Crockfords
• 32Red does the right thing
• Wizard Of Odds sold
• Gambling addict sues Ritz
• Better blackjack conditions
• FL: the beat goes on
• Phil Ivey and the Borgata
• LadbrokesFOBT profit
• Chat with the Met
• "Bonus abuse" and the Met
• Casino industry crooks.
• Debate to curb the FOBTs
• Labour idea to ban FOBTs


• Ruby Fortune: terms buried
• Royal Vegas: bad outcome
• Russia illegalises gambling
• RV: player breaks no rules
• Gib casinos and UK laws
• The GGC (GRA) useless
• BetFred rigged games 9
• BetFred rigged games 8
• Betfred rigged games 7
• BetFred rigged games 6
• BetFred rigged games 5
• BetFred rigged games 4
• Phil Ivey: is he entitled?
• BetFred rigged games 3
• Betfred rigged games 2
• BetFred: rigged games 1
•  UK GLA Act 2013
• 888.com and Facebook
• Crockfords denies Phil Ivey
• Bad dealers
• Betfair Blackjack test
• Playtech software update
• Cheap blackjack
• Hippodrome Casino


• The UK's FOBT addiction
• Conan Casino beware
• Intercasino misleading
• Fortune Lounge
• UK Gambling Commission


• Small Claims Court
• Gamcare
• Full Tilt Poker saved
• Full Tilt ponzi scheme
• Casino Barcelona
• Irakli Kacharava
• Betfair processor no pay
• Full Tilt licensing meeting
• UK Gambling Commission
• Full Tilt Poker investors
• Full Tilt license suspended
• Twitter
• Betfair resolution
• Casino Web Scripts 2
• 32Red bonus marketing
• Casino Web Scripts 1
• Poker domains seized
• eCOGRA independent?
• Easystreet Sports theft
• Betfair to Gibraltar
• Rigged blackjack 2
• Betfair responses
• Rigged blackjack
• 888.com theft
• Betfair poker problem
• UK gambling controls
• Harry Reid


• eWallet Xpress
• Kevin Stillmock
• Blog back up
• Betfair happy hour
• Ladbrokes bonus increase
• Absolute Poker tricks US
• Absolute Poker rigged
• Last position no difference
• Basic strategy simplified
• Online casino bonuses
• Righthaven LLC
• Ladbrokes bonus rules
• Malta LGA nonsense
• Purple Lounge theft
• UK affiliates issue
• Online casino problems
• GPWA code of conduct
• One Club Casino problems
• Rushmore theft resolved
• Realtime Gaming cheats
• Absolute Poker Ultimate Bet
• Rushmore Casino theft
• Ask gamblers service
• Intercasino bonus terms
• Profitting from poverty
• Gambling dooms UK to ruin
• Want To Stop Gambling
• Gambling Therapy
• Gordon Moody Association
• Breakeven
• Online gambling jobs
• Gamblock
• Gamble Aware
• Gamblers Anonymous
• Gamcare
• Video poker auto hold
• Gambling Wages help offer
• Blackjack double down
• Intercasino rules
• Tradition Casino warning
• Tradition Casino problem
• Be The Dealer
• eCOGRA approved casinos
• UK underage gambling
• iGaming Super Show
• eCOGRA reputable portals
• eCOGRA exposed
• Slots Oasis warning
• Slots Oasis problem
• HR 2267 comments
• HR 2267 proposed bill
• Search fully functional
• Gambling hearing delayed
• Betfair download blackjack
• Betfair blackjack
• The Federal Wie Act
• Casino Rewards warning
• Kahnawake dumps GP
• GP dumps Microgaming
• UK online gambling
• Gambling checklist
• Online casino problems
• Gambling Grumbles
• Casino Rewards
• Brian Cullingworth
• Casino Wager Tracker
• Grand Prive affiliates
• Jackpots Heaven Casino
• Kahnawake commission
• UK gambling problem
• eCOGRA and Grand Prive
• Bet365 misleading bonus
• Mastercard and Visa
• Online gambling rules
• 32Red sign up bonus
• Ladbrokes data theft
• Ladbrokes unfair settlement
• Palace group bonus rules
• Grand Prive and eCOGRA


• Blackjack in the UK
• Seminole Hard Rock
• The APCW and MG
• Sportsbook.com
• Slot beaters slot strategy
• Rushmore Casino theft
• Paddy Power affiliates
• Slots
• 888.com problem
• Neteller contest winner
• 888.com bonus problem
• Casino Club meeting
• Online casino directory
• 32Red debit card bonus
• Blue Square Casino
• Budapest Affiliate Expo
• Rushmore payment issues
• Modern Blackjack volume 1
• Eurolinx certain insolvency
• Buzzluck winnings theft
• PaddyPower removed
• 32Red lawsuit
• William Hill Casino Club
• Betfair video poker
• APCW underage children
• Odds page updates
• VP Genius
• Video poker page updates
• Blackjack page updates
• Progression page updates
• Single deck page updates
• Betfair Playtech license
• Cherry Red Casino
• Online gambling debate
• William Hill & Teddy Sagi
• Rogue casinos section
• Pontoon correction
• Microgaming poker scandal
• Casino Club confiscation
• Casino Club steals €8000
• Villa Fortuna Casino
• Grand Prive affiliate issue
• CAP and Cardspike 2
• Virgin Casino bad results
• CAP and Cardspike 1


• iNetbet removal from site
• Mario Galea and Malta LGA
• Cold Mountain Resort
• The AGCC
• Moneybookers privacy
• Virtual Casino rebranding
• Captain Jack Casino
• Royal Ace Casino
• Ringmaster Casino
• Catseye Casino
• Lucky Palm Casino
• Pharaohs Gold Casino
• Goldstream Casino
• Plantet 7 Casino
• Betfair bonus confiscation
• Malta LGA worthless
• The GIA
• Interwetten theft of £5000
• Lucky Ace winnings stolen
• The KGC and Absolute


• HippoJo Casino
• Microgaming All Aces VP
• Neteller issues
• Lou Fabiano responds
• Lou Fabiano selling stats
• Betfair Zero Lounge
• ICE 2007 brief visit
• RTG cancels ICE visit


• Crystal Palace Casino theft
• eCOGRA & Jackpot Factory
• English Harbour cheating
• Boss Media single deck
• Bella Vegas / Grand Prive
• The KGC worthless
• Gambling Federation
• Playtech sued
• Meeting Andrew Beveridge
• Playtech confirmed listing
• African Palace Casino
• G-Fed ICE discussion
• Playtech ICE meeting
• Playtech issues escalation
• Chartwell hands off


• Crystal Gaming silence
• Price Waterhouse Cooper
• Crystal Gaming flotation 2
• Vegas Frontier
• Crystal Gaming flotation 1
• Playtech public listing
• African Palace & Indio
• Kiwi Casino
• Rochester Casino
• G-Fed theft 2
• Warren Cloud best avoided
• Golden Palace stupidity 3
• Golden Palace stupidity 2
• G-Fed theft 1
• Golden Palace stupidity 1
• Russia online expansion
• Wan Doy Pairs Poker
• Microgaming CPU usage
• Net Entertainment RNG
• Cryptologic & William Hill
• Casino growth slow
• English Harbour paying
• Fraudster or not
• Blackjack surrender
• Integrity casino group audit