Bergamo Acquisition Corp. (BGMO)

[satelliteguy]

"his actions have risen to the level of criminal securities fraud because many statements were outright false when made (e.g., the June 2010 statement that funds were deposited, announcement of a contract guaranteed by Lebanese government, describing the GSB guarantee and US Capital Trust SBLC as cash backed) and there is no protection for the issuance of wildly inflated and false financial statements such as the June 30, 2011 one that showed $439 million of cash."

This is 100% true. IMO, it is just a question of whether the SEC will be motivated to do anything about this long-running fraud before the figurehead* dies, goes into a nursing home, or similar.


*I don't believe that Herzog has been acting alone all these years. Kinda like "Weekend at Bernie's."