i believe something else is going on. Is it a coincidence that PNMS is asking people to medallion certs and send it to their dallas address?. How hard would it be to have regus walk those certs downstairs to UBSS and deposit them in any number of nominee accounts for resale. Remember these certs are MEDALLIONED, they are NOT signed over to any specific entity. Once medallioned they become a fully negotiable financial instrument and may be deposited in ANY named account without further signature , contract or question.. They are like cash at that point and whomever holds them can do whatever they like with them.
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