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Monday, December 06, 2010 3:51:49 PM
I will reiterate that fraud may exist and it certainly seems plausable or even likely. Many people forget that pink sheet securities do not have the same reporting or trading rules as the big boards. Therefore people think fraud has occured when in reality one could not prove it to be true. How can the SEC police this???
For example, if I tell you I plan on creating a company to sell widgets, do a few things to start the process, create stock activity as a result, and then decide I don't want to run this business anymore. Have I done anything wrong? My business idea may of truly failed. You are asking the SEC to determine whether the business was created for the sole purpose of fake stock activity. A very difficult thing to prove! This is why Pink Sheets are the most speculative investments in the world. We have no idea of the truth behind 99% of the companies traded OTC.
I'm just trying to bring a little clarity. Sometimes we are all blinded by our anger, particularly when it comes to money anger. If fraud comes down as the final verdict, I am here to help with any evidence I can find. I just honestly do not have any yet.
Good Luck To All!
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