What makes you think that the existence of any transactions done ex-clearing will have any impact on the scam that just occurred here? Even if there were naked short positions created as a consequence of those ex-clearing trades?
Anyone who might have naked shorted CMKM Diamonds made the right trade. They've earned their profits.
"The penny stock investor may be the most dangerous creature in the investment world, at least to himself.[...]His hypocrisy becomes most apparent when he then blames his losses on the greed of others." Robert C. Dugan, Director - JRM Capital