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Re: zomniac post# 1710

Tuesday, 09/21/2010 10:49:47 AM

Tuesday, September 21, 2010 10:49:47 AM

Post# of 1794
zoomniac: Add BCIT to your list. The DTC imposed a global lock on BCIT after the company was hijacked by Mario Pino who issued and sold counterfeit certificates into the market. A huge naked short was created when legitimate management filed complaints with both the SEC and the FBI. In my opinion the global lock was implemented to prevent the brokerage firms who had sold a huge number of non existant shares from suffering huge losses by having to buy back the non existant shares they sold. The SEC did find against Pino and the original management was cleared however the DTC has prevented trading since. You may want to visit this site to gain more insight: http://www.let-bcit-trade.com/

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