Calissio Resources Group Inc (CRGP)

[coinsguy]

Innocent until proven guilty. COR will have to prove that CRGP had intended to commit fraud and that is not going to be easy. Both the DTCC and COR are clearly at fault here. The DTCC sent a due bill to COR for shares that were not eligible for a dividend. COR paid that bill even though those shares were not eligible (rather, the DTCC debited their account) and the due bills were then paid by the DTCC to the brokers who bought and then sold those shares to the final owner, which happened to be CRGP.

CRGP had no way of knowing where those shares came from, only that they were deposited in their brokerage account, along with the funds from the due bills. CRGP had no direct interaction with the seller of those shares (COR) as everything would have been handled by the final broker, which is their job as a broker.

COR's beef should be with the DTCC and they should have loudly contested the DTCC's action. CRGP clearly admitted that it was an error and they were working with the DTCC to straighten it out "over the next couple of days". COR got impatient, having raised the issue on the 25th and then suing CRGP on the 27th. If anyone has ever dealt with lawyers, you know nothing gets done in one day. COR's lawyers clearly had been preparing their case from the very start. COR had no intention of letting CRGP and the DTCC straighten it out.

I see this case coming out in CRGP's favor.