MedGen Inc (MDIN)

[Scumbag Fraudsters]

OH BULLSHIT!

There’s only so much DD that can be done in a startup with no financials or other data to examine.

For those who may have jumped in in the latter half of 2014 on (especially the moron who bought last week!), there was a already a pattern of deception to be used as DD.

But for those who jumped in early, there was only a pro forma and no less than two dozen PRs to rely on.
It is ILLEGAL to knowingly disseminate bogus material information, even in pinkyland. Investors had every right to expect that what they were being told was the truth (mostly).

And it wasn’t just one or two little white lies or hiding something about one PO that would be delayed or was cancelled (damn hurricane!).
EVERYTHING THE COMPANY EVER SAID WAS FALSE! The entire company was founded on fraud. Barton had no intention of legally running a company - he only acquired MDIN to line his pockets.

In or about February 2010, Barton sold his private business—Northstar Business & Property Brokers, Inc. to MedGen, a dormant public company that previously had been a manufacturer and distributor of dietary supplements, in exchange for preferred shares of MedGen. The preferred shares gave Barton voting control of MedGen, which Barton used to appoint himself as the sole director and chief executive officer of the company.

Barton conducted no legitimate business through MedGen, but used it to further his fraudulent securities scheme and thereby enrich himself and others involved in that scheme.

So, when 100% of a company’s communication and documents are fake, it’s nearly impossible to discover until it’s too late.

They even tricked the DTC into removing the chill after supposedly doing a full audit and accounting for every share.
So if the DTC can be fooled, how the hell were investors "stupid" for their "lack of DD?"

THAT’S A FOOLISH, CRUEL THING TO SAY!

It’s not like they wired their money to a Nigerian prince.

That’s like blaming all of Madoff’s victims for being stupid, and there were thousands of 'em - I’m sure many of whom were very intelligent.
For starters, how about New York Law School, Royal Bank of Canada, Steven Spielberg, Leonard Feinstein (co-founder of Bed Bath & Beyond), Banco Satander (a Spanish bank which lost $2,870,000,000).


You think ALL 2200+ of them were ignorant and failed to do proper DD?


They’re called "victims" for a reason.