Deano..for someone like myself who works with bonds, MTN's and other banking securities, it's easy for me to find Rufus "guilty before tried". He lied, he committed a major felony, and he will be found quilty.
The real question is what his sentence will be. Tom Hughes received 5 years with nowhere near as much fraud as Rufus tried to pull.
If Rufus was telling the truth, there would be copies of SWIFT wire transfers and page 3 of each EUROCLEAR print out would save Rufus's butt from ending up with criminal charges. All Rufus had to do was show his wire history and have his compliance officer for his institutional account testify on Rufus behalf.
Some of you do not understand investment banking which is why Rufus was able to sucker so many people. Anything listed on EUROCLEAR still has to be delivered either by EUROCLEAR free delivery, DTCC free delivery for banks in the U.S., or by SWIFT.
-->Either way, there would have been a bank to bank electronic trail of banking securities being blocked in for Conversion Solutions benefit and the matching wire print out.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.