$1 Million Judgment Awarded to Investors Defrauded by Taj Systems and Mr Jygnesh `Jay` Patel

Released on: November 20, 2007, 12:52 pm

Press Release Author: marcia

Industry: Financial

Press Release Summary: Company CEO guilty of defrauding investors. Investors have
been awarded $1 million judgment.

Press Release Body: Red Bank, NJ: Judge Bill Taylor of Circuit Court of Cook County,
Illinois recently awarded a ($1,047,389.00) One million forty seven thousand three
hundred and eighty nine dollar judgment to a group of investors who were defrauded
by Mr. Jygnesh “Jay” Patel, the CEO of Taj Systems and Taj Systems, which owns
TeenPatti.com, an online gaming / entertainment website. (PINKSHEETS:TJSS)

According to papers filed in the courts of Illinois, Mr. Patel and Taj Systems were
deemed guilty of fraud. Patel and Taj Systems defrauded the investors by removing
stock from an escrow account without proper authorization. These actions diluted the
investors’ equity and flooded the market with additional stock. Mr. Patel who was
not in court when the judgment was ordered, is also listed as the online contact for
Group Business Development of CinéMaya Media Group, Inc., (PINKSHEETS:CNMY) who
lists TeenPatti.com as one of its’ clients.

The investors invested in Taj Systems common stock based upon Mr. Patel and Taj
System’s representations. The invested capital was intended to help fund the
startup expenses for launching Teenpatti.com and fund the marketing campaign
prepared by Elephant Advertising, a subsidiary of CinéMaya Media Group, Inc. Mr.
Patel assured the investors that no stock would be released from the escrow account
without their representative’s written authorization..

However, Mr. Patel did remove Taj Systems common stock from the escrow account
without proper authorization. Furthermore, Mr. Patel failed to disclose to investors
his business relationship in Elephant Advertising’s parent company. The investors
tried unsuccessfully to resolve this matter with Mr. Patel who refused to make the
investors whole, forcing the investor group to hire an attorney and take legal
action.

According to Mr. Michael Salerno, one of the defrauded investors, “We gave Mr. Patel
and Taj every opportunity to rectify the situation; however, they put us in a
position, where our only recourse was to take legal action. Unfortunately, we were
unaware of Mr. Patel’s unethical business practices when we made the investment. We
hope this judgment will help other investors avoid a similar situation.”

According to the company’s website, CinéMaya Media Group is a leading provider of
high quality international South Asian media, entertainment, and marketing services.
Elephant Advertising is a subsidiary of CinéMaya Media Group which helped to create
the TeenPatti.com website. Taj Systems is a gaming software developer who owns
TeenPatti.com as well several other related websites.

For additional information, contact Mr. Michael Salerno at 732-758-1577, ext. 239.



Web Site: http://

Contact Details: Press Release Contact:
Marcia D Anderson
121 monmouth street
red bank, nj 07701
Marketing Director
manderson@trimforlife3.com
(732) 758-1577 ###

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