It has been well known inside the securities industry for about two months that the SEC has requested all account documents and trading information from clearing firms on any customers that have deposited SPNGE certs to their accounts over the last few years.
The promoters Moskowitz hired to work this deal were mostly paid in RME held SPNGE stock so promoters are definitely in the line of fire. The ones that were wash trading the stock could see criminal charges filed against them.
Less easy to verify is that there is a grand jury investigation on the SPNGEcapades. I wouldn't be surprised to learn this is the truth. Forged opinion letters are a recent favorite target of the DOJ and the SEC.
now is it a FACT that the third parties
who *hired* stock promoters are all
connected to management and is
there any issue with counterfeit certs
in regards to any promoters .. are there
any subpoenas that have been issued to
promoters and what about certain MM's
any trading records requested of them?
We are apt to shut our eyes against a painful truth... For my part, I am willing to know the whole truth; to know the worst; and to provide for it. --Patrick Henry, Patriot and Hero of the American Revolution
