Treaty Energy Corp. (fka TECO)

[panther2]

The SEC doesn't settle civil suits or get involved with allegations of fraud with no proof to support it either! I think its time to lay to rest the ongoing threat of SEC intervention we have been hearing about for over 5 years. Until charges are actually brought against Treaty those claiming fraud and predicting baseless SEC investigations can't be taken seriously.

Look what happened when we examined closely the allegations Treaty's Oil Rig was stolen and smuggled out of the country! I offered the explanation below and the best response was, "So what."

No pseudo lawyering here just offering a rule for exportation of vehicles which has to be strictly followed. And my investment hasn't been lost yet!

It appears close scrutiny of some of the allegations being touted by some like fraud, stolen rigs, smuggling, etc… become baseless claims upon closer inspection!

That makes absolutely no sense, because without legal documentation Treaty wouldn't have been able to ship it through U.S. Customs or Belize Customs!

No governmental agency, including the SEC, will get involved in a civil dispute over ownership of the Rig, because that is for the courts and a judge to determine.

Why does the burden of proof fall upon Treaty. The burden falls upon the person making the claim the Rig isn't Treaty's. If Mack could have proven ownership he would have done so already in a civil court. Instead, 6 years have lapsed and each year its in Treaty's possession decreases anyone claim to it.

I wonder who is claiming the depreciation of the Rig with the IRS over the past 6 years?

A "made up title" isn't very realistic unless you have proof of it to show us. Only proper verifiable documents would be accepted and matched against a VIN. Refer to the quoted rule below;


Section 192.2 Requirements for Exportation


Basic requirements

A person attempting to export a used self-propelled vehicle shall present to Customs, at the port of exportation, both the vehicle and the required documentation describing the vehicle to include the VIN or, if the vehicle does not have a VIN, the product identification number (PIN). Exportation of a vehicle will be permitted only upon compliance with these requirements, unless the vehicle was Eentered into the United States under an in-bond procedure, a carnet, a Temporary Importation Bond, or under a personal exemption for non-residents who entered the vehicle for a 1-year period.