The brokers are claiming they traded inside the dtcc - James Femia letter - although the NASD special alert says otherwise.
On August 31, 2005, the SEC temporarily suspended trading in the securities of Bancorp International Group, Inc. (Pink Sheets– Symbol: BCIT) pursuant to Section 12(k) of the Securities Exchange Act of 1934. In its Release, the SEC stated that it temporarily suspended trading in the securities of BCIT because it appears that all of the securities currently trading in the name of Bancorp International Group, Inc. and purportedly signed by Thomas Megas as President and M. Puig as Secretary are counterfeit. The SEC trading suspension began on August 31, 2005, at 9:30 a.m. E.T., and terminates on September 14, 2005, at 11:59 p.m. E.T.1 Furthermore, The Depository Trust Company (DTC) issued a special alert regarding BCIT on August 16, 2005, which included a notice that DTC had discontinued all services relating to BCIT, other than custody services, as of August 11, 2005.
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