Spongetech Delivery Systems, Inc. (fka SPNGQ)

[zase71]

Accepting and keeping a wire payment without knowing the source of the payment is criminal negligence. I work in a bank, and we are required to do background checks on all our clients that transfer money through the bank. This is done to protect against charges of money-laundering and facilitation of other criminal activity. If the bank did what GFGU did with SPNGE's money, the FBI would be crawling all over the bank with subpoenas. In addition, GFGU's 8K sounds more like the whining of a peeved third-grader than a business establishment. Their 8K is vulnerable to libel charges and should have been scrutinized better before releasing it to the public. All around it looks like amateur hour. But GFGU clearly is the biggest loser here. They opened up their own can of worms and this thing will explode in their faces worse than they ever could have imagined.