I think the jig is up for Reid. I don't doubt the story of that private placement is true. He simply ripped people off to the tune of $545,000. AND he never even issued the stock he sold. That is just theft.
Nor do I doubt this has been reported to the authorities. This is the kind of case they like. It's one thing for people simply to point out that fraud appears to have been committed, but provable losses from investors tend to make it all seem more important and more urgent.
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