Good Vibrations Shoes Inc (GVSI)

[Yolo]

What interests me here is if any of the defendants held legimet shares in GVSI why did they not sell them when Mr. Sharp gained custodianship of GVSI and the stock started to have value?

Restricted shares can't be sold until the restrictive legend is removed. There are various exceptions, but the most common that I am aware of is Rule 144, which requires that the company be current with disclosures.

Meaning that literally, the restricted shares couldn't have been sold until yesterday at the earliest. They could all be legitimate shares, you can't make any conclusions based purely on them being restricted.