Global Diamond Exchange, Inc. (GBDX)

[texas tom]

The civil action against Turino et al was initiated by the U.S. government. The collection agent for the U.S. government is usually the U.S. Department of Justice. The DOJ will set up a crime victims fund. An agent for the DOJ will set up a monthly payment schedule on the judgement. The DOJ will compel payment. The DOJ will take Turino et al to court should they miss any payments. The DOJ has the authority to compel a monthly payment as much as 25% of a person's gross income if he is an employee. This happens when the person is late making his monthly payments. Bankruptcy does not wipe out this type of judgement. Even Chapter 7.

I note that Turino et al has not contested the judgement. This may be on the advice of counsel. This may mean that a criminal indictment is in the works against these people.

The only question I have is how the proceeds from the judgement will be disbursed to GBDX shareholders. The money due GBDX shareholders may be much more than what I posted.