|Born||Elvira G. Gamboa|
|Spouse(s)||Mark Logan Pedley|
Pearlasia Gamboa (born Elvira G. Gamboa) is a Filipino American business woman involved in controversial banking and investments, for which she has been successfully sued by the U.S. Securities and Exchange Commission and various state agencies.
She is connected to a micronation that has been used as a front for fraudulent criminal activity.
Gamboa (born Elvira G. Gamboa) was born in Manila, was married and divorced prior to 1993 and currently lives in California. She was previously known as Elvira G. Gamboa. In 1994, she married Mark Logan Pedley.
Gamboa was the president of the micronation known as the Dominion of Melchizedek, set up by her husband Mark Pedley. The micronation, which only exists in cyberspace, is a front for fraudulent criminal activity.
The U.S. Securities and Exchange Commission took her to civil court over a company she owned, ZNext Mining, in 2009, alleging that she had used fictitious reports of gold mining operations to profit by fraudulently sell shares, siphoning off more than $1 million. She maintained that any fraudulent manipulation of stock prices was carried out by her husband without her knowledge. After Gamboa failed to appear in federal court to contest the government's accusations, a default judgment was ordered against her in August 2010 totaling $1.8 million; a $650,000 fine for the ZNext corporation, and $1.18 million for Gamboa personally. Gamboa was also permanently barred from selling penny stocks. She has not paid the fine and is attempting to have the decision overturned.
ZNext Mining was investigated by a multi-agency taskforce as part of Operation Broken Trust, a US-wide operation in 2010 that targeted investment fraud. Although her husband Mark Pedley was charged, under the name Tzemach David Netzer Korem, and pled guilty, Gamboa was not.
Use of aliases
- "The Ruse That Roared". The Washington Post. 5 November 1995.
- "Fantasy Island: The Strange Tale of Alleged Fraudster Pearlasia Gamboa". SF Weekly. 6 July 2011.
- Tillman, Robert (2002). Global Pirates: Fraud in the Offshore Insurance Industry. Northeastern University Press. p. 112.
- "Indiana trying to expel `phantom' Asia Pacific Bank". The Indianapolis Star. 9 November 1994. p. E1.
- ""Nation" Waging "Spiritual War" on State Official". The Sacramento Bee. 13 February 1995. p. B1.
- "Cyber Nations with Real Repercussions". Asia Times Online. 17 Feb 2000.
- "Dominion of Melchizedek". Financial & Tax Fraud Associates, Inc.
- Tillman, Robert (2002). Global Pirates: Fraud in the Offshore Insurance Industry. Northeastern University Press. pp. 113–5.
- "SEC Ties Gold-Mining Shares to Empty Shell". Courthouse News Service. 15 Jun 2009.
- "SEC Sues ZNext Mining and its Principal for Fraud and Registration Violations". U.S. Securities and Exchange Commission. 12 June 2009.
- "U.S. ATTORNEY ANNOUNCES REGIONAL RESULTS OF "OPERATION BROKEN TRUST" TARGETING INVESTMENT FRAUD". United States Department of Justice. 6 December 2010.