Global Technologies Group, Inc. (GTGP)

[236T568]

Regarding the GTGP press release commenting on the SEC suspension of GTGP. Here is a similar response by another company that was suspended by the SEC:


"....the Company’s Chief Financial Officer, stated, “We were surprised to see that the staff of the SEC decided to suspend trading in our shares yesterday. We are cooperating fully with the SEC staff in connection with their investigation and are working diligently with our new auditors to finalize our Annual Report. It is our intention to provide the SEC staff with all requested materials so that they can conclude their investigation as soon as possible.”"


This is pretty upfront, professional response, just like that of GTGP's Fallacaro's response, isn't it?

now

Lets see what happened to this CFO/COO that made those comments in the response press release and the company in question:

He never filed the financials with the SEC. Months later he was arrested by the FBI, jailed, indicted for massive fraud (over $100 million), released on $2.0 million bond. He then pleaded guilty to the fraud charges and is awaiting sentencing, which is expected to be in the range of 20 to 40 years.

Oh, and the company?

Traded down to $0.0001/share in the grey market.