Plastic2Oil Inc (PTOI)

[kaymeyer]

Excellent post discovered *there*

PaperProphet

'redacted' is absolutely correct about the rascals and scoundrels trying to "help" PTOI. PTOI founder and former CEO, Mr. Bordynuik, had to search long and hard to find people with those qualifications. When Mr. Bordynuik cooked PTOI's books, he had to look for a crooked auditor to sign off on the fraudulent financial statements. In the SEC complaint against Mr. Bordynuik, the SEC says about PTOI's auditor, "The consultant informed Bordynuik of the auditor’s incarceration but Bordynuik insisted on continuing to use Gately & Associates for JBI’s [Plastic2Oil, Inc's] 10-K audit for the fiscal year ending December 31, 2009. Indeed, Bordynuik even agreed to assist the incarcerated auditor by paying for his criminal representation, an alcohol treatment program and offering him a job as an internal auditor for JBI’s operations in Canada."

Mr. Bordynuik also had to find Mr. Heddle to collude with him on one of the many go-nowhere "deals" to pitch to investors where Mr. Heddle offered up his business for "P2O Marine" to pretend to build ship-board processors to clean up plastic from the oceans and island-hop to pick up plastic from ports.

Current CEO, Mr. Heddle, also seems to look for those qualifications in the "help" for pitching his own stories to investors. Two years ago Mr. Heddle vetted out EcoNavigation, which was an LLC with no identifiable assets run by a former felon. That was apparently all the information needed for Mr. Heddle to put out a press release to his thousands of shareholders expressing his full confidence in EcoNavigation's ability to perform. We all know how that turned out.

Yes, there are many, many shady people associated with PTOI...but let's not forget the hard work that PTOI puts into finding people with those exact qualifications.