The Faulking Answer...
faulkingtruth
The Faulking Editor
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Re: Mr. Faulk, can you comment on this?
« Reply #15 on Today at 7:38pm »
Let me address this point by point:
First, I DID speak with Will Shanley, at great length. He's taking things I said and misinterpreting them, or drawing his own conclusions:
"I spoke with Mark Faulk, who has covered this issue extensively, and he said executives of CMKM Diamonds will soon be arrested by federal authorities. He said it will happen within the next few weeks."
I said that indictments would be issued soon, but the only name I mentioned was Edwards. He asked me about Urban, and I told him the same thing I have said many times on CFRN, which is that he has much to answer for, and bears at the very least responsibility as the CEO of the company. I never said "executives of CMKX would be arrested" although I would guess that there are people inside the company who will be charged (or at least should be). I DON'T HAVE A LIST OF NAMES, and I didn't ask for one. I also explained how the same group of criminals move from company to company, and repeat the scam over and over again.
"He said, unfortunately, that shareholders will not be repaid money because there is no money available."
Wrong. I said the exact same thing that I've said MANY times: I have never been able to confirm ANY payouts to shareholders, and none of the people who I've talked to have any information about a payout, including those in positions of authority. Does that mean it's not possible? Unless I have all the facts....and no one does in the CMKX story....anything's possible. But I repeat: I have NO information about a payout.
"Faulk said the company was a fraud, bilking more than $250 million from investors nationwide. I'm sorry."
Close: I said that shareholders were bilked out of an estimated $250 million, but i think he's still confusing those who controlled the company with the company itself. I told him that it's possible that Urban believed that he "had the goods" in the form of the claims, and that he maybe thought that it would pay off and then shareholders wouldn't care than he lived a little too lavishly. I cited the fact that he has stayed around after the company was delisted as something that raises questions about his involvement. I have serious questionsn about Urban...but I don't have the definitive answer about the degree of his involvement......YET.
"Carol, other investors need to know about these kinds of companies, which use the excuse of naked short selling to hide their own mismanagement and fraud. Please let me know your thoughts."
Maybe he got that from Lee Webb. It's obvious he doesn't get it....and he's siding with the naked short sellers on this one. I told him that there ARE corrupt companies, andn that the only way to expose them is to PUT A HALT to naked short selling and other fails to deleiver, and that would expose the corrupt companies as well. By the way, I'm calling him right now. I'll tell everyone how that goes tomorrow on the show.
