Penny Scams

[peorge]

I am glad to see a seasoned investor like jim keeping thing in check.

Posted by: Jim Bishop
In reply to: Airys418 who wrote msg# 233030 Date:1/2/2007 8:44:06 PM
Post #of 233171

I'm afraid dropping things on the 8th just won't happen Airys.

While the Statement of Allegations only lists 3 news releases I suspect the OSC is looking at them all.

Interesting to note that ones they do mention concern things which Gary and the Windsor Star proved to be false and misleading.

SLJB didn't put out their retraction news on Dec 5th because they are nice guys....they were given a choice. They chose right.


Conduct Contrary to Ontario Securities Law and Contrary to the Public Interest

17. The Respondents have issued false press releases contrary to section 126.2 of the Act that misrepresent the business of Sulja Bros. and its prospects.

18. At the same time, the Respondents have traded or have caused to be traded, large numbers of shares of Sulja Nevada to third parties in a manner which constituted distributions for which no preliminary prospectus or prospectus were filed nor a receipt issued by the Director, contrary to section 53 of the Act.

19. The trading directed by Vucicevich and De Vries and facilitated by Sulja Bros. and Kore have created a misleading appearance of trading activity and an artificial price for the shares of Sulja Nevada contrary to section 126.1 of the Act.

20. The Respondents’ conduct was contrary to the public interest and harmful to the integrity of the Ontario capital markets.






peorge