ERHC Energy Inc (ERHE)

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The SEC is watching what? The SEC is pretty slow to move (if at all) in my experience. One of the worst federal agencies ever. And I know, having worked for several three-letter agencies in my career. They are a civil, not criminal agency. Meaning rarely do they get truly punitive actions like jail and then only if DOJ gets involved and fraud/illegal activity can be proven. More often than not the SEC will strike agreements so companies and certainly not company officers don't have to admit guilt in favor of a fine. These fines are a fraction of the damages in almost every case, most of that going to the Department of the Treasury. Although they have the ability to recompense victims, they rarely do. The only federal agency more corrupt than the SEC is perhaps the FDA.
Lastly, These cases are not glamorous but they are time-consuming and tedious, as well as expensive. Interest is low and they tend not to take them on unless it's a really big fish, exorbitant amounts of money involved, lots of press, or a famous victim. If you get super lucky, you can find an investigator with a particular or personal interest with a company like ERHE and then maybe. He/she still needs to convince their Agent in Charge that it's worth the money they will spend on the investigation. Then you need to convince a US Attorney to prosecute. It isn't as easy as "they are scumbags and should go to jail". Ask me how I know.