Tom, you are right, of course, as to what actions we can only hope the SEC might take against the perpetrators. But once individuals submit complaints, there really is nothing else anyone can do to light a fire under the SEC. Shareholders are at their mercy because the agency obviously has the last word as to how it will spend its limited money & manpower. As for individual shareholders, it simply isn't practical, much less cost effective, for them to go out of the country and pursue a legal case against FFGO management...but all power to anyone who might attempt it.
Beyond that, all that matters is that shareholders ultimately learn to read the scam warning signs and learn to avoid making another FFGO type mistake. Once that happens, they will immediately see other similar plays for exactly what they are. Whether they be Lumb's or any of a number of others, they all follow a similar game plan that can be easily recognized. The toughest part is enduring the condescension of the "true believers", whether they be gullible newbies or "savvy" traders masquerading as "longs".
Finally, let's just hope that regulatory & law enforcement agencies don't spend more than a minute or two laughing at reports of these conspiracy concocted "criminal counterfeit electronic equity markers" before getting serious with the real problems.
“It's easier to fool people than to convince them that they have been fooled.” - Mark Twain
AI
