Sulja Bros. Building Supplies, Ltd (SLJB)

[janniebgood]

Well, the Ontario Securities Commission full hearing is scheduled to begin this week and is to continue through the next month or so; that is, if Black Pete doesn't strike a deal with them rather than face the full hearing. He is facing two criminal fraud charges and has another pre-trial hearing scheduled in criminal court early next year.

As for Steve, as have many others involved in this SCAM, he has apparently cooperated with the investigators and turned "Crown's witness" and at least so far, faces no criminal charges in connection with SLJB. The allegations against him in the OSC complaint are seemingly minor.

It is very apparent from the OSC complaint, at least to a reasonable reader, that Black Pete is the main target for orchestrating and admittedly perpetrating at least the manipulative trading portion of the scam. I'm afraid all the money is gone, but am hoping that he will spend time in prison.

Of course, there is still a contingent of Black Pete/SLJB apologists out there, insisting that some insidious scheme such as naked shorts, marriage puts and other conspiracies to drive the company into the ground are responsible for its demise. Some even believe it's a thriving business...LOL

Denial, plain and simple.