Bergamo Acquisition Corp. (BGMO)

[Investman432]

Pacifica, thanks for Todd J. Bergerson's affidavit filed Friday in US District Court in Illinois in the case of International Capital Group v. Hillard Herzog and Sher Banno related to all those loans Hillard got (ICG was effective Hillard's ATM) secured by millions of BGMO shares. Obviously the case is continuing, and Herzog's statements that the loan was "settled" join many other utterances by him in the bin of "false and misleading".

My view is the ICG are idiots and deserve to lose money. They made many advances to Hillard and Sher against BGMO shares. ICG (as proxy for HH) sold 7,450,000 BGMO shares into the market from November 20, 2009 through September 9, 2010. We have now officially identified the dump.

Hillard is probably making a mistake by not showing up in court. I don't think ICG has a winnable case, due to poor documentation (like all those mortgage lenders), but thanks to HH's fatheadedness when it comes to paying people, he'll probably get the bank accounts/website seized again. BTW, email chains identify Aegis Capital Corp as the broker between HH and ICG, another party actively involved in the BGMO saga, identified.

Again, let me say, ICG are idiots and deserve to lose money. The evidence corroborating LOC fraud by Esoft and Fox Bank is far from definitive. I don't know Fox Bank, and certainly don't believe they have $100 billion just because a website says that, given the lack of real information. HH seems to be a magnet for conmen - a Nigerian's dream. But its clear he lied on May 20 about the Esoft deposit - and we haven't been given the full story yet.

I understand fully why Pacifica doggedly follows the travails of this fascinating reality show. I too have been drawn in - and while I initially took a hit, now am green thanks to people stupider than me (which are not many).