$130 Million Uranium Deal Challenged

ALBUQUERQUE (CN) - Minority shareholders of Mineral Energy and Technology Corp. (METCO) claim the company's controlling officers and their attorneys are cheating them on a $130 million deal that would transfer METCO's uranium mines to Monaro Mining, of Australia.

METCO formerly was known as Uranium King. The plaintiffs sue Uranium King Ltd., of Australia; METCO directors Michael Duncan, Sam Sapper, and Jim Malone;

Albuquerque attorneys Michael Comeau and Paul Fish; and Las Vegas, Nev., attorney Fred "Pete" Gibson III, who allegedly are conspiring to push through the Monaro merger with METCO assets.

The federal RICO claim alleges Internet fraud, bank fraud, wire fraud, perjury, extortion, securities fraud, inside trading, and other violations. Plaintiffs are represented by Rene Ostrochovsky.