Bancorp International Group Inc (fka BCIT)

[mretgnol]

we could not know that the Company had zero operations or was a fraud at the time of the investment

The only reason people were buying shares was because the trading volume and people on the message boards claiming it was because of shorting. The pick up in volume is what made people look at BCIT for the first time in six years.

They had previously released fraudulent press releases claiming to be developing a LNG plant in PNG. Exxon-Mobil had that deal. The Carter Care deal was debunked quickly.

Whether you knew or not is not the issue.

It's whether the company lost actual business which in turn would have made the shares more valuable. That's where the shareholders kind of get screwed on the lost value of the shares. The only reason TD Ameritrade and Scottrade paid as much as they did was because they were mislead into thinking it was a broker delivery problem. James Femia lied to them repeatedly.