nuffie, ... Investorman is right. The next step will be the ruling on the motion to dismiss. Won't happen for a while, though.
I just read/skimmed Frizzell's deposition. I guess it's better to be stupid or naive than recompensed. It probably saved Frizzell's ass. Hakala skewered him.
Frizzell revealed that he knew enough about the players in CMKX by the time he served on the Task Force that he should have fled for the hills.
All involvement is based upon his belief (unsupported in the deposition) that there was a massive naked short. Participation in the cert pull is justified as being ordered by the company - not the Task Force. However, he is well-ware that Helen Bagley was financially benefitted to the tune of $15 per new certificate asked for and generated. Great way to pay her off and the last grab at the wallets of the CMKX shareholders. But, Frizzell seems blissfully unaware that the final scam was actually happening.
Frizzell constantly refers to the insiders at CMKX as crooks. He's constantly asking UC where the money went, but getting mere deflections for answers. He knows Edwards was walking around with certs dropping out of his pockets. He knows that Casavant was getting kickbacks on sales of certs. He knows checks are bouncing all over the place.
And, yet, when the deposition was taken, he was up to his eyeballs in the CMKX coverup and running the Task Force operations while Maheu and Stocklein sat on their hands and Casavant and Edwards stole away with the ill-gotten gains. Ugh!
All in the name of protecting the shareholders. Sure didn't help things! ... eom
