Grifco Inc (GFCI)

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OT Bones, OTC Con-man CEO

I still have some stock in an OTC, fully reporting company with audited financials. Unfortunately the whole thing was a fraud. Hollywood couldn't make a movie out of this story because nobody would believe the plot.

After being released from prison for securities fraud the con-man CEO and his crazed killer girlfriend bought a clean OTC shell and acquired several losing dot coms from their desperate owners. The CEO issued glowing PRs, and lied to all concerned (the auditors, the SEC, and employees). Each of the companies he acquired knew that their "division" was losing money but assumed that the other "divisions" were making up for it. The SEC finally kicked in the door and arrested the CEO and his girlfriend (who was a controlling person in the company).

http://www.sec.gov/litigation/complaints/comp17835.htm

His girlfriend's tale is a story of murder, drugs, and deceit. If you read this filing from page three; it will make your blood run cold. Ask yourself: why were those people murdered? Why did she risk smuggling a lethal amount of cocaine into the prison? Why not let her husband dry out behind bars?

http://www.tsc.state.tn.us/OPINIONS/tcca/PDF/982/steplstr.pdf

My point is that if these two could control a US public company for over two years anyone can - no matter how crooked they are.

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