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Re: rjc2827 post# 47855

Thursday, 07/20/2006 1:33:01 PM

Thursday, July 20, 2006 1:33:01 PM

Post# of 159752
I did ask my broker about selling shares. He laughed when I said they were fake but it's not too funny when you're trying to cover a margin call. Not that I thought I would get anywhere with the shares but was hoping that they would refund my money.

He said that if the shares are fraudulent and I tried to sell causing settlement to fail, that I would be responsible for a buy-in and a $45 service fee! But then he said it was a moot point because it's flagged as no-buy/no-sell on their system.

He did ask me why the SEC and FBI hadn't intervened since securities fraud is a federal matter. Any idea why not? I did tell him about the civil suit.

He also said that no replacements had been issued, no new cusip was showing up and the transfer agent was marked as unassigned.

The worst part was that my service agreement holds them harmless (I'm still reading through the pdf file). They acted as an agent on an unsolicted basis (his words). So now what? tia



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