Plastic2Oil Inc (PTOI)

[loanranger]

"I'm still trying to figure out how Michael Dell got a Five year officer ban and yet he continues to run the company he founded."

That's going to take you a while since it never happened (I'm sure you knew that). Whatever Michael Dell did, the SEC didn't find it egregious enough to even ASK for an officer ban. I think for a CEO and Founder to get a 5 year officer/director ban one has to do something special.

This assessment proved to be incorrect:
"A ban is neither reaonable nor realistic, especially as it's publicly proven that John Bordynuik is CEO of the first and only economically viable green energy process on the planet and built it with nothing but 2 years ago but a coffee pot size desktop model."

Either the SEC didn't agree with all of that or they didn't think it overcame his bad acts.


From the [Proposed] FINAL JUDGMENT AS TO DEFENDANT JOHN W. BORDYNUIK:

IX.IT IS HEREBY FURTHER ORDERED, ADJUDGED AND DECREED that pursuant to Section 20(e) of the Securities Act [15 U.S.C. § 77(e)] and Section 21(d)(2) of the Exchange Act[15 U.S.C. § 78u(d)(2)], Defendant is prohibited from acting as an officer or director of anyissuer that has a class of securities registered under Section 12 of the Exchange Act [15 U.S.C. §78l] or that is required to file reports pursuant to Section 15(d) of the Exchange Act [15 U.S.C. §78o(d)].

15 USC § 78u - Investigations and actions
(2) Authority of Court To Prohibit Persons From Serving as Officers and Directors.— In any proceeding under paragraph (1) of this subsection, the court may prohibit, conditionally or unconditionally, and permanently or for such period of time as it shall determine, any person who violated section 78j (b) of this title or the rules or regulations thereunder from acting as an officer or director of any issuer that has a class of securities registered pursuant to section 78l of this title or that is required to file reports pursuant to section 78o (d) of this title if the person’s conduct demonstrates unfitness to serve as an officer or director of any such issuer.

15 USC § 78j - Manipulative and deceptive devices
It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce or of the mails, or of any facility of any national securities exchange—
(b) To use or employ, in connection with the purchase or sale of any security registered on a national securities exchange or any security not so registered, or any securities-based swap agreement [1] any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors.