He says he is innocent because he has been issuing toxic paper for over a decade and the SEC never charged him before now, so that somehow equates to approval and legality.
Oh lord! That IS ridiculous. What did Kramer mean by this?
"We are surprised and disappointed that the SEC would bring this action based on loans that the SEC itself reviewed and approved," said Curt Kramer...
That the he got convertible securities, and that the common stock he got on conversion was registered by an S-1 offering? That would involve an SEC review.
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