Cal-Bay International Inc (CBYI)

[mordicai]

Are you kidding when you say Pawson didn't mean to rob us with his misrepresentation of the Stonewall note. Jeeezzz you just don't get it. This man is going to jail for what he did with the stonewall note. Let me give you a glimpse of the closing argument of the Prosecutor at Pawson's trial for violation of federal and state security laws: "Ladies and gentlemen of the jury. What the defendant did with the stonewall note is equivalent to this. Suppose man and wife owned a house free and clear. The woman files for divorce. The court awards the house entirely to the woman. The defendant goes to the man and has him convey (quitclaim) his interest in the house (the man has no interest now) to the defendants company and then the defendant tells prospective shareholders that the company owns 50% of the house but doesn't tell the investors that a court has already awarded the house to the wife. " That my friend is fraud. It is an omission of material fact which is a clear violation of Rule 10b5. Bet your bottom dollar that there is a scam behind every transaction cbay undertook. What is happening now, is an attempt to keep the facts from ever surfacing. Kinda like burning the car after you stole it. My speculation is that Pawson criteria for picking properties to buy was to help his friends/business associates unload their failed/distressed/or non-bankable projects. The real estate owned by cbay, if still owned, are nothing but liabilities. Money pits. You will see foreclosures on all of them, and cbay will not even fight the foreclosures. The investors were fleeced. All jmho.