Global Diamond Exchange, Inc. (GBDX)

[texas tom]

Tuesday, April 27, 2010

http://www.finra.org/Newsroom/NewsReleases/2010/P121331

FINRA (Financial Industry Regulatory Authority) fines five brokerage firms $385,000 for the sale of Unregistered Securities, other Violations relating to Penny Stocks. They were also found to have an INADEQUATE ANTI-MONEY LAUNDERING PROGRAM. FINRA found that 4 of the 5 firms FAILED TO DEVELOP AND IMPLEMENT A REASONABLE ANTI-MONEY LAUNDERING PROGRAM AND FAILED TO DETECT AND REPORT THE SUSPICIOUS ACTIVITIES OF ITS CUSTOMERS WHO INGAGED IN THESE TRANSACTIONS.

Didn't the Dodge group deposit the $12 million they received from the illegal naked short sales in offshore bank accounts in the Cayman Islands? Did any of the brokerage firms have an anti-money laundering program in place when the hundreds of millions (billions?) of unregistered GBDX shares from Jeffrey Turino et,al were issued to the public who bought them.