Bancorp International Group Inc (fka BCIT)

[janice shell]

"Investors" are not entirely free of responsibility where their own trades are concerned. I don't believe your brokers or anyone one else offers guarantees of any kind.

By early August 2005, BCIT was a short squeeze story. Many people didn't play it because of what had happened with GVRP. Others didn't play it because of Mario Pino's involvement, which was known as early as May:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=6324918

By July, ArtGecko was pushing the idea of a short squeeze, and that's when interest began to build:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=6931209

By 13 July, "Thomas Magnus" was talking about gold and diamond mines in Venezuela:

"We believe our stock price at present does not reflect the true value of our company -- we have significant gold and diamond assets that we are just starting to actively mine and an established formal relationship with the Venezuelan Federal Government, that we intend to leverage as a strategic business partner moving forward," said Thomas Magnus, the CEO of Bancorp International, Inc. "We are also very much aware of the fluctuating price points that can impact the gold and diamonds markets and are weighing our options in setting up hedge funds for both minerals to offset any significant changes in pricing that might occur in the marketplace."

That, of course, was the famous PR that Megas later said was entirely fake. Certainly it was written by Pino, but was that done entirely without Megas's knowledge?

By the end of July, Art Gecko had contacted Megas, and the short pump was seriously underway:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=7119658

On 1 August, Megas himself stepped up to the plate with his own announcement. He'd evidently attempted to deal with Pino:

Attempts to agree to compensation of $2,000,000 for damages have foundered on the issue of criminal liability. The company accepted $50,000 as a partial payment to cover initial investigation expenses and as part of an overall settlement for damages.

Megas was indeed paid the $50,000 by Pino. (And oddly enough, that sum never hit the BCIT books.) But additional funds were not forthcoming.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=7190359

Many players were mindful of the GVRP disaster, and decided not to play because of it:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=7191060

Note that nobody on that board spoke of BCIT as if it were a real company. It was just a play. And then, as everyone knows, on 31 August, the SEC finally got round to suspending. But most people could by then have sold for a profit, and in fact many did.