The judge said, “I want them (the shareholders) to understand that their pain and their loss is understood by the court."
I totally believe that the judge sympathises with shareholders. However, with all due respect, I don't think she understands (technically understands) our loss. It was during this sentencing hearing in Nov 2014 that she also denied my Motion to Amend the DOJ's Forfeiture Order, which I submitted to her court the previous June. Brokerages are unable to verify the authencity of the Cede shares, and it was from Cede shares that certificates were re-issued to Moskowitz. How could ownership of those shares be verified for Moskowitz, when ownership of investors' shares can't be verified?
Moskowitz "also is said to have spent the last four and a half years helping investigators sort through the SpongeTech fraud and was credited with saving other potential fraud victims from losses."
This, too, I totally believe. We have seen case after case filed that we know were related to SpongeTech. However, we still haven't seen a case filed against those who sold allegedly unregistered shares. If that's what happened, those people, and their brokerages and clearing firms, caused more "loss" to shareholders than the company did. Does the judge understand that?
She may, since this is the judge that noted that this case remains open for further proceedings.
Very patient, that judge. Still waiting for attorney Pensley to get A equal to L+C.
