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Week after next the Lansing paper is doing a story on Benson's gross conflict of interest. Should be interesting. He will resign at a minimum, and may face state charges.
Well, that $15 a share comment just fetched Rufus a contempt haring.
That's BS, bleah. How exactly how does printing the truth "cause" anybody to lose money?
Uh, dealer, they laugh at you because you ignored obvious warnings. That is stupid, in most peoples book
Good grief, lifegear. Learn the basics.
Nope, lifegear, they wouldn't. Learn the basics. You really are quite foolish.
Clear violation of the law, cindy, and if they acted on it they could be charged. Unfortunately, it's not likely.
You are tedious, gdb. I said it is illegal, and it is.
Get over it, dealers. And that has what to do with the proof that this is a scam?
Actually, gdb, there is. It is illegal to take any coordinated action intended to artifically influence the price of a stock. That even includes coordinated "cert pulls".
Ask scandal over at SRCI. He damn near got his ass in trouble.
Lifegear-you don't get this at all, do you. CSHD doesn't approve market makers. They file to make a market. They don't need the company's permission.
Geeze. At least learn the basics.
Howzie-they said that in public? That's a violation of the law on its face! Not that they are telling the truth. They are hoping to suck in buyers they can dump to.
Please, dealers. Get real. As to buying CSHD; you do understand that the new owner of the scam would assume the liability for past actions, don't you? Not to mention that there is nothing to buy. Rufus stole all the CD proceeds, including the kickbacks to his personal bank accounts he received from the sellers.
Jim-god stuff like that makes me see red. I imagine Casavant will make a similar claim.
I read somewhere, but forgot the source, that the SEC only successfully collects about 10% of the fines and disgorgements that they do levy.
Crime pays.
Cindy-What Sabra knows how to find is CD "financing". That's it.
Neom-he can do an interview. He just can't say anything that violates securities regulations.
And knowing ruffie, he will do just that.
Howzie-a psychotic with religious delusions might make that claim.
Actually, sc4, it means that the SEC is treating this as a major fraud case. And since the SEC has many cases, they always appoint more than one atty. to avoid potential schedule conflicts.
Lord you are clueless, abby.
ORDER PROHIBITING DESTRUCTION OF DOCUMENTS
Too quick, gdb. He would have to recieve notice of a "show cause" hearing on contempt.
Dimension-I called the Judges clerk this morning and confirmed that. Now the longs who said I was FOS when I posted it earlier have their official update.
Yo, liquid, you have your link now. Told ya so:
Court granted plaintiff's motion for TRO and motion for expedited discovery.
Ruffie bettter be careful about what he says. Violating a TRO will lead to contempt charges.
Rookie-then why didn't rufus file a brief disputing them?
Utter BS, highyeild. He didn't even file a brief or memo of law to counter the claims. This was not scheduled for oral arguments, but for consideration by the Judge of the SEC request and any ruffie response.
dimension. I have no idea Truer words were never spoken, dragon.
That's moronic, jcald. The case itself wasn't even on the docket. It was only concerned with the TRO.
Please, CB. Those filings are nonsense, and have zero legal standing. Why didn't ruffie produce documentation of his claims to the SEC months ago when he got the subpoena, CB?
You guys really are clueless.
True, howzie. But he is still in for a bad few weeks. The Lansing State Journal is gathering information and looking at a story along the lines of "State Regulator Moonlights as Auditor for Company Charged with Stock Fraud".
Right, tall. Rufus is going to issue a PR and make a continuing fool of himself on scampenny radio. That negates the SEC case, eh?
You really are quite out of touch with reality.
The brain dead CSHD auditor is in a world of SOX hurt, and will likely be named in an amended complaint. He may well lose his State job as a result.
Perhaps, bleah, because "abusive naked shorting" has never been demonstrated to be a material problem. If you want to go down this line of debate, you had best know the data; I assure you that I do.
LOL, lesn. You criticize scam exposes, but come out with the completely undocumented (and bizarre) claim that "it's clear that the company wanted it this way". What facts make that clear, or can you read Rufus' mind?
lesn-then I would welcome your documentation of distortions of fact or material ommisions of fact by our-street or stocklemon.
Lesn-it was a compilation of documented facts showing fraud. If you want to call that an assault, then I guess you would characterize all journalists who break negative stories as bashers.
RealDeal-unless Tim has changed his policy, he doesn't take positions in stocks that he writes about. To do so would be perfectly legal, however, as long as all the information he dug up was available to the general public if they chose to find it. Market participants are information seekers; if you are better at finding out and interpreting information, you have an advantage over the uninformed investor-known on the street as "dumb money".
Elgindy, for example, was not convicted for illegal shorting. He was convicted for trading on non-public information he obtained from corrupt FBI agents. In fact, every stock he identified as a scam was a scam, and most of the information he obtained-VLPI comes to mind-was available to anybody with a computer and a function sense of logic.
Oh nonsense, doni. Tim does meticulous research and sourcing. There is no luck to it.
Wrong, lesns. If fact there is a whole body of work on how regulatory agencies respond to information from informants. Simple e-mails to the effect that "this is a scam," don't result in any action; they might get dozens of those a day.
High value tips, like StockLemon, Our-Street, etc. are extremely like to prompt action. First, they do much of the agencies work for them by documenting the fraud: second they set up political pressure for the agency to act on the information, because their inaction in the face of clear evidence can later be an embarrassment to them.
Xienze-in donni's world view, if he can make a profit, it's ok if it's a scam.