Actually, jimmy, virtually all out of country brokers clear trades through US correspondent relationships, the exceptions being the bucket shops springing up in the Phillipines and Thailand that sell non existent securities to offshore suckers.
And as you should know by now, the 50,000 account figure (or 60,000 or 70,000, depending on who is doing the pumping)represented every account that had ever traded CMKX, not a snapshot of active accounts at a point in time.
For one example (there are many, many more), Frizzy counted good old Felix Casavant in his figures, even though he had dumped every share Urban V gave him:
1892 276 Felix Casavant Canada 5,413 S - Restricted 01/16/03 03/16/04 1,000,000 (1,000,000)
1893 276 Felix Casavant Canada 7,853 S - Restricted 09/29/03 03/16/04 1,000,000 (1,000,000)
1894 276 Felix Casavant Canada 11,176 03/16/04 07/16/04 1,000,000 (1,000,000)
1895 276 Felix Casavant Canada 11,177 03/16/04 07/16/04 1,000,000 (1,000,000)
Given the fact that all the point and click brokers auto requested certs, and that they represented the vast majority of the sheep's trading, what is left is likely small accounts with regional brokers, and the shares the Casavants and their insider pals were unable to dump.
Sorry, jimmy. No grand comspiracy; no international financial crisis; no instant wealth from a fabulously valuable asset that the market just happened to overlook. This was just a garden variety pump and dump that was more successful than most, and that will almost certainly lead to Urban and others facing criminal prosecution.
Tashkent Basher Drop-box.
AI
