DD Support Board and Research Team

[janice shell]

There's nothing preventing management of the companies that accept toxic loans from using the money to pay their own salaries, naturally. And that's often what they do. Sometimes the salaries are quite large.

So the companies' relationships with the toxic funder is symbiotic.

Fife is trying to make a big deal of the FINRA disciplinary action because he claims the SEC cited it in its own complaint. But it didn't. It cited an unrelated lawsuit it filed against Fife in connection with events that took place in 2002-2003, and had to do with variable annuity contracts:

https://www.sec.gov/litigation/litreleases/2007/lr20250.htm

The FINRA action is, in a way, more damning, because it involved the roles Fife and his associate Justin Keener played in a broker-dealer called, I think, M. Gordon. Both Fife and Keener got themselves CRD numbers, which I think puts paid to Fife's current claim that FINRA lacked jurisdiction when it originally brought the action.

Keener, who's also a toxic lender, was also sued by the SEC for acting as an unregistered dealer; the judgment was posted at the SEC site:

https://www.sec.gov/litigation/litreleases/2022/lr25598.htm