Plastic2Oil Inc (PTOI)

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Baldwin Made Willful Misrepresentations about JBI’s Financial Position at JBI’s Annual General Meeting on April 24, 2010

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36. Bordynuik was present at JBI’s Annual General Meeting and was aware, both before and after, of the representations Baldwin made about the value of the media credits. At the time Bordynuik also was aware that the media credits were significantly overvalued in JBI’s financials and that the company likely would have to restate as a result. At the time of JBI’s Annual General Meeting, Baldwin and Bordynuik both were aware that JBI was still soliciting investors for one of the PIPES that ultimately raised approximately $8.4 million during the period of overstatement.

Doc 1 PDF file
http://www.sec.gov/litigation/complaints/2012/comp22220.pdf