Monday, March 16, 2009 12:11:25 AM
But before we let it go, let me let you in on something you may not know - the SEC is as much to blame for this as is Norman Meier. Tecton was a plain, old-fashioned pump & dump. Norman Meier and Jordan Shapiro began an systematic plot to push up the stock price beginning in December 2007. They involved people from southern California to help keep the BS flowing.
The SEC was notified in February of 2008 that a pump & dump was moving forward. It would snare a new bunch of investors as Meier, Shapiro and cronies dumped their shares on the public who only know what they were being told in those BS market newsletters.
Here's the kicker - the SEC was told what was going on and had six weeks to put the brakes on Tecton. The did nothing. They sat back and played possum while Tecton lost over 80% of it's value as the pump & dump took off. They did nothing after the pump & dump screwed the investors, nothing later as the stock sunk below a penny. The SEC did nothing ever about Tecton.
For those of you who lost your savings in Tecton, contact the SEC and ask what they are going to do about this. Contact Carolyn Winters at WintersC@sec.gov Even better, call her at 202-551-4583, assuming she still even works for the SEC. Ask her how many years she's going to sit on this stuff while those who perpertrated the pump & dump are still walking freely among us. She's had the data for over a year and it never made it to the top of her in-box.
Ask her how she sleeps at night.
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