GOFF, SWVI, NORX, and XUII were all major stock promotions.
GOFF, SWVI, and XUII were all big Awesome Penny Stock promotions so the fallout continues and is expanding now to include Caledonian Bank in the Caymans as part of the rampant offshore penny stock money laundering operations that were operating under the nose of the SEC without consequence for years.
Thanks for sharing. Here is a link to the write-up.
I'll try to get a copy of the 39 page Complaint to post.
This part is kind of ironic:
"All of the scams were the same, the SEC says in its 39-page complaint. First, they filed "bogus registration statements" with the SEC, purporting to register securities to public shareholders, though there were no such sales and the securities stayed in the control of the issuers and their affiliates."
If the SEC was doing their job they would have investigated before approving the registration statements and allowing these tickers to publicly trade.
The SEC is very much at fault for allowing these "scams" to even exist.
I wrote reports on all of these four tickers before the stock promotions even started. It was as obvious as could be right from the moment the S-1 filings hit that each of these four "companies" were set-up for the mere purpose of being used for insider enrichment scams, paid promotions, and money laundering operations.
The SEC needs to hire smarter people or something.
Obviously more research as done on all those tickers later... point is just that it is so easy to spot a shell company that is being set up for nothing more than a scam/money laundering operation yet the SEC continuously gave these shell companies their blessing over and over and over again for years allowing them to publicly trade then become scams that would end up robbing retail investors of millions of dollars.
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