Plastic2Oil Inc (PTOI)

[loanranger]

"Here's the first random example I found via Google of a "private placement" fraud allegation from the SEC."

Talk about coincidences. It was a random example the last time you found the exact same example, too!:

"Here's a random example I found of blatant private placement fraud (the real kind, not the media kind).
Total "ill-gotten" gain given back including interest? Comes out to 8.3% of the private placement:

http://sec.gov/litigation/litreleases/2011/lr21808.htm "
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=70579218


I responded to it at that point and never heard back. May as well just copy and paste.....your attempt to make your point by providing only a piece of the story hasn't changed:

"Here's where your 8.3% came from:
"the companies raised approximately $2.9 million through offerings"
"Nyce consented to a permanent injunction, and will pay $242,339 in disgorgement and prejudgment interest,"
($242K/$2.9M = 8.3%)

What happened to the rest of that sentence?
" and a $65,000 civil money penalty. Petitti consented to a permanent injunction and will pay a $25,000 civil money penalty."
And the entire previous sentence regarding the rest of the defendants?
"Petroleum Unlimited, Petroleum Unlimited II, and Kimmel, have consented to permanent injunctions and will pay disgorgement plus prejudgment interest, and civil money penalties in amounts to be determined by the court at a later date.""


That said, defining "illgotten gains" and quantifying disgorgement amounts can be complicated and I don't think that there is any point at all in guessing where this is going in that regard.