Endurance Exploration Group Inc (EXPL)

[slambino]

http://www.spartansecurities.com/15c211.php

Spartan securities CEO IS

MICAH ELDRED

wait there is more

The firm failed to establish and implement appropriate anti money laundering compliance!
The firm sold unregistered shares for it's customers!
What??? Why would they fail that?

No big deal? Only $100,000 fine. Guilty as charged. No appeal. Nope.

What CEO would do this?
How much did he launder?
Is he still doing it?

Securities firms get fines of this sort all the time though. The fact that they paid out $100k doesn't necessarily mean they were guilty, could have just been the most economically viable solution. Firms pay fines sometimes because fighting the fines can incur even higher legal costs. Standard stuff in the industry.

Further. None of this means that they actually laundered money. It only means that regulators found out about an issue and fined them. If they found that they were actually laundering money they would shut down the firm, OR, the fines and charges would be much much higher.

ANyways, I'm sure you probably already realise all of this...