No. There was no naked shorting involved. Urbie issued stock to John Edwards. Edwards deposited the stock in his account at NevWest. Edwards then presented fraudulent tradability opinions written by Brian Dvorak and "not objected to" by Roger Glenn to Helen Bagley. Bagley issued free trading stock to Edwards. Edwards then ordered NevWest to sell that stock. NevWest did so, through Jefferies. Then Edwards kicked back some of the money to Urbie.
Lather, rinse, repeat. Hundreds of billions of shares were issued and quickly sold.
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