Bioelectronics Corp (BIEL)

[srinsocal]

Don't hold your breath waiting for the SEC to investigate BIEL again

The last investigation was only possible because a contractor hired by BIEL, one Drew Walker who represented himself as an attorney but was only an accountant, thought that BIEL had not properly compensated him for his legal work when he was not a Licensed Attorney. The SEC ignored the fraud of Mr. Walker and believed the story he told about BIEL.

How did that decision work out for the SEC?

The investigation took 3 years, the initial $2.6 million monetary Judgement was reduced by 92% to $192k in a Settlement, the lifetime Penny Stock Ban for KW was reduced to 1 year in a Settlement, and the SEC lost money on the prosecution.

* BIEL is not a 'Fully Reporting' company, therefor its requirements for Material Events are to advise shareholders/public in their Quarterly Reports