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It is on list.
BCITXZ 05968X106
so there is a statute of limitations. some had said it already passed. I was working on 7 year SOL. But does the SOL go away if evidence of criminal activity is exposed?
So what makes you draw the conclusion I haven't? Basically, I am back to where I left off with ETrade a couple of years ago. Nothing has changed except this is now a concerted effort with focus and backing by BCIT. Makes a big difference versus going one-off as TM expected us to. That is why I stated early on Megas wasted time suing 'fake' shareholders rather than teaming with them to do this together.
But his attorneys advised him on action steps.
Thus the reason why TM, as BCIT CEO, has the fiduciary responsibility to clean this up. This should be a warning to all CEOs that what happened to BCIT could happen to them. Megas had noone watching the house. Thus the need to place people in areas of financial responsibility they can trust.
Kind of reminds me of the movie 'Psycho' where the lady took off with the money instead of depositing in the bank. Then it all went out of control after she got out of town.
I like this:
The DTCC stated that in order to protect the process from bad apples they were not going to coach them along creating a process of getting around DTCC chills.
I bet DTCC didn't confess to being one of the bad apples. Therefore they have no plan to help companies(i.e. BCIT) get out of mess they helped to create by their own negligence.
These companies(ie. DTCC) assisted in creating this mess by not following their own rules, and now want to penalize the customers with fees for their failure to protect the system from the likes of Pino/Pammy.
Only in America.
BCIT is not DRS eligible. This person apparently does not know what they are talking about.
This may warrant an additional charge against them because they have not advised you properly.
definitely malpractice
which to the point is what the issue of global lock is all about. Megas supposedly gave the DTCC certificates to cover 250 million shares. The DTCC wanted Megas to cover the full 2 billion+ shares without being paid by the brokers for the shares the brokers sold without having the certs to cover them. Remember BCIT only had 4 millions shares on record, but over 2 billion shares exchanged hands in the open market? Something doesn't add up, must be the new math being taught in todays schools where everybody can get something for nothing, except those that pay the bills
Thus the dilemma.
Bottom line is the DTCC is wanting Megas to pay for their failure to do proper due diligence of vetting Pam and validating the forged certificates by Pam/Pino. Thus DTCC allowed forged certificates into the market and did not provide proper oversight of certificates. So much for protecting the investors.
They may not consider themselves as participants of illegal activity, but they certainly have condoned it by ignoring the BCIT situation/circumstance and looking the other way - for 6 years.
Note that DTCC and FINRA are represented on the panels.
Raises questions then if they actually cleared the trade. Thus the need to ask for proof of clearance. My purchase was in May 2005, way before all the mess got hot and heavy. So they may have cleared the trade, but did so with fake certificates backing the trade. If this is true, then the reason for ETrade to use the DTCC cover up with the global lock as my trade was 4 months before the global lock.
What a mess!
It is all becoming clear as mud now.
For those that bought before though...
They are supposed to clear the trade in 3 business days correct?
Doesn't this mean that they should be able to deliver in paper form what they cleared?
Well, no matter what you call it, ETrade has no intention of settling this matter with their customers. I was told to take it to FINRA, or the proper authority by Ms. Eberhardt. From her position, ETrade does not see it as their problem as they provided the trading service. However, they make no mention if they settled/cleared the trade in 3 business days.
No response as to providing proof ETrade actually cleared the trade. Take it to FINRA.
I am certain it is not ETrade as they recently responded there will be no refund! Of which you now have a copy of their response to me.
It has now been two weeks since I sent the follow-up with no response to date. What disrespect ETrade has for their customers. I can't wait til this gets to the media and this company is taken down and exposed for their theft of customers money. This type of theft by ETrade is one of the reasons for the Occupy Wall Street protestors. They have a right to protest, but they need to do it with respect for others and others property.
Two wrongs will not make right what some of these companies and the government have done to the economy and to the American people. The very ones that give them profit and taxes, neither are doing what is in the interest of the US citizens.
I like this section:
L. 1)Delivery of securities. Nothing stated in this section shall be construed as affecting the absolute right of a customer of a broker or dealer to receive in the course of normal business operations following demand made on the broker or dealer, the physical delivery of certificates for:
Fully-paid securities to which he is entitled, and,
2) Margin securities upon full payment by such customer to the broker or dealer of his indebtedness to the broker or dealer; and, subject to the right of the broker or dealer under section 7(b) of Regulation T to retain collateral for his own protection beyond the requirements of Regulation T, excess margin securities not reasonably required to collateralize such customer's indebtedness to the broker or dealer.
IMO, you are very close to reality.
your comment really is not even worth a response.
any use of profanity only shows one's ignorance and lack of education to provide meaningful discourse.
Remember, it was Sytner, as I understand it, that used profanity against the DTCC during their meeting to resolve share issues, and it was then that the DTCC told Megas and Sytner to clean up the mess without them. And here we are 6 years later trying to clean up the mess.
Of course, I think this was it, the DTCC was trying to get Megas to give them more than 250 million certs, not certain what the number was then.
I have read all his posts. I do not remember seeing one that addressed communicating with Bill O'Reilly as individuals.
Please provide post # you want me to look at.
I think this is a great idea, but do you not think that CH should provide insight on how to best go about this in an organized fashion rather than a shotgun approach? That is what is causing people to discredit the Wall Street protestors. There is no organization.
Remember, those that have organized pattern of thought will always be your boss. Somebody is running this riotous mob that seem to have no direction because it is noone on the streets. They are too smart for that, let the protestors do the dirty work, similar to Osama Bin Laden, let somebody else kill themselves, but he wouldn't put himself in the position of wearing an explosive device.
I did not purchase shares as a form of protest. I was looking for investment into the healthcare industry and ran across Carter Care. then all the junk started. However, I did not have time to watch my investment everyday. And by the time I saw what was happening, it was too late. Any way that is history, and I have too much respect for other's property to feel I have the right to destroy it and have somebody else pay for it like tehse protestors.
yeah and who is going to run it then. imo, a different kind of slime, worse than what you got now. If you don't believe me, just read the history books.
be careful of what you hope for, you just might get it.
I just hope, for your sake, it does not come over by a boat like the Titanic or one that goes thru the Bermuda Triangle.
This is beginning to sound like the birth certificate issue with the person holding the highest office in the land.
What a parralel.
Electronic form versus physical form? Wow.
Actually, I was told over phone conversation to file a complaint with FINRA because ETrade has provided the trading service and have fulfilled their legal obligation to me. However, the follow-up recommended by CH is right on. I will reserve what CH recommended, but ETrade already knows as I sent response to their customer service with the ETrade contact.
If you do not provide the contact name, ETrade customer service will respond that I have been provided contact information and that I need to communicate with them. This just slows down the communication process, but it is part of the game the brokers play.
Interesting, again. I have been waiting for response from ETrade for 2 days since my request for certs per CH.
Did anyone notice the banner for 60 days of free trading by ETrade? They must be using our money to provide this service and ad.
remember they received 250 million from Megas. They can clear up to 250 million, imo. once the requests go beyond 250 million shares, then the fun begins. Could be wrong, but...
I thought services by the DTCC were suspended because of the global lock. Getting interesting.
your reputation preceeds yourself. take it as a form of flattery.
Maybe CH meant email, as I received next step direction for communicating with broker today. As to US mail, I would not expect anything till end of week, if it is coming from England.
So sad, what greed really creates.
Remember the global lock is suppose to be 'temporary'. If/when this gets to court before the judge, I would like to see an explanation of DTCCs meaning of 'temporary' to the judge.
oil companies/gasoline stations do it all the time.Why not the stock market?
I am glad that TM now references us as shareholders. I know the past is gone, but this is good that you reinforce and use this word 'shareholder' as it shows that Tom has had a change of heart in referencing us. I have tried to put myself in his shoes to get a better understanding of how one would respond to finding out without your knowledge all of sudden your responsibility went from a few shareholders to 1,000+.
It appears skiing in the Swiss Alps brought a breath of cool fresh air by introducing him to someone that sent him to your team.
Again, we do not know how things will turn out, but at least a strategy for overcoming this mountain has transpired, at last.
Thank you and TM for the steadfastness.
I can at least answer yes that there is an area 51 and a few others.
I understand that financial institutions have a seven year statute of limitations(SOL) on trading records where they must keep a history of all trading activity. First, is this true, and if so time is running out pending when the official SOL clock started which could explain why the institutions have been playing the stall/run-around game.
If not, then continue. My prayer has always been and is that God may expose the darkness here with the light of truth for your team, all shareholders that have been treated unfairly, Mr. Megas, Mr. Pino and Pam, and even those regulatory/government entities of SEC, DTC, SFC, and stock brokers and even judges. May the truth surely find all responsible parties out so that justice may be imparted to all of them.
And thank you and TM for trying to bring a close to this chapter of individual and corporate greed.
I think I read recently that the Swiss has agreed to turn over names of US citizens that have hidden accounts. Not sure how safe it is anymore.
ch team is doing good work. IMO, etrade has made several stumbles already in responding to BCIT shareholders.
Actually, David took Goliaths sword and cut off his head.
Are we actually trying to put an end to this Goliath? I would like to think we are trying to end their deceptive practices.
I think that is the plan. I can visualize the smirk on the Etrade's representatives face when they write these responses.
Pay day is coming. The question is when and how will it be settled.