How does a pennyless hick own $2 Billion in Treasury checks? Oh, he does not own any treasury checks. At best, he might be able to lease some treasuries, which can only be used as collateral enhancement.
The Securities and Exchange Commission does not approve or deny operations. They only fine and in many cases, prosecute for securities fraud.
Where are the SWIFT copies showing the securities were blocked in favor of Conversion Solutions? What bank is the company's institutional account located at? Who was the bank's compliance officer? Did you ever send MT999's to the sending bank asking to verify these bonds/MTN's in advance?
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