Spongetech Delivery Systems, Inc. (fka SPNGQ)

[madeindet]

"improperly issued tens of millions unregistered shares. None of Mr. Steer's clients were defendants, but court filings identified two of them in an example of some of those share issuances. The defendants all pleaded guilty, with sentences in the case including 24 months in jail for one and $12.7-million (U.S.) in restitution for another.


How much damage did mr steer cause in the investment community failing to protect the public as a Gatekeeper??

Congrats to iiroc for pursuing this and what a shame it is that SEC screwed the shareholders in this process.