Board, if you see this guy associated with any ticker, do not buy it unless you are willing to set your money on fire as a lotto ticket
From the Fraud board:
So Adam J Tracy is a shell hijacker and a sham IPO attorney. Guess he is trying to out do some of the other recently Indicted attorneys like Gregg Jaclin, Luke Zouvas, and Jehu Hand.
I was looking through the court documents in the case and according to the SEC they believe that Adam S Tracy was involved in as many as 15 sham IPOs.
According the documents I read, the SEC believes possible violations including, among other things, engaging in, or intending to engage in, offering frauds based upon potential misstatements and omissions of material fact in pending or recently effective Form S-1 registration statements and amendments. These filings have common characteristics and indicate that some of these companies:
(1) may not appear to be viable developmental stage companies;
(2) may be seeking to create fraudulent shell companies that evade requirements applicable to offerings by "blankcheck" companies under Rule419 promulgated under the Securities Act of 1933; or
(3) may have failed to disclose the identity of the true control persons, promoters and gatekeepers.
It is very obvious reading through the court documents that Adam S Tracy is giving the SEC the run around because he has something to hide. You don't act that way if you are not guilty of breaking a few laws.
It's good to see the SEC getting better at cracking down on sham IPOs. It just makes sense to do some investigating before they start to publicly trade to save tons of time and money later after they have bilked millions of dollars out of US investor's pockets and laundered the proceeds into offshore accounts. It is crazy how many S-1s that are made effective are just insider enrichment scams using nominee officers and nominee shareholders. It's also good to see another dirty attorney like Adam S Tracy going down.
Speaking of Adam S Tracy. It is interesting the timing of some of his hijacked shells running like GOFF, TRON, and LOTE considering the serious serious issues that Adam S Tracy is now facing.
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