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Re: None

Monday, 02/22/2010 1:28:44 AM

Monday, February 22, 2010 1:28:44 AM

Post# of 14386
I hope it's not as brutal as the following case, which the SEC halted in November 2002:

http://www.sec.gov/litigation/litreleases/lr17835.htm

"Specifically, the complaint alleges that:

To create the image of a vibrant enterprise, the defendants fraudulently reported millions in fictitious earnings, revenues, expenses, and assets. To conceal the true results, they created fictitious periodic bank statements, checks, invoices and a general ledger, which they supplied to 800America's auditor.

Rabi and Steeples are selling unregistered 800America stock through nominee accounts in violation of the registration provisions of the securities laws, and at a substantial profit to themselves. Rabi and Steeples also misappropriated company assets."


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