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Re: king oil post# 99292

Thursday, 07/21/2011 11:44:08 AM

Thursday, July 21, 2011 11:44:08 AM

Post# of 103308
The SEC doesn't determine guilt of fraud (a crime).

You are correct the SEC is not the court system. However, it is the gov agency with the mandate to protect the investor from fraud.

Do you really believe the SEC called up LLEG management and said: Gee we don't quite understand your operation. We have questions. Therefore we are going to suspend your stock, and punish it further by delisting it to the Grey until you satisfy our curiosity?

In the real world, the SEC told LLEG we have firm evidence of fraud as defined by our regulations. We'll give you the opportunity to explain the following points. Maybe give them a chance to clean up their act on any fraud-lite issues, asking LLEG questions on how they propose to address the pending charges. Does that mean they are guilty? No, it means the SEC has moved on what they believe is a strong case for enforcement. Do you see any evidence LLEG is contesting this in court? Again, if you were a CEO facing fribulous action by the SEC, wouldn't you be trying to protect your company up front? Seeking an injunction early on against the SEC actions? That should tell you which side has the position of strength.

If you wish to continue to believe it's merely a Q&A session, cleaning up blog cartoons, then place your bid orders.

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