Grifco Inc (GFCI)

[back2basics]

I'm hounding the board of a scam. 4 months ago they were put on the Greys by the SEC. Pumpers are saying that if there was a criminal investgation going on, the public would know by now.

I made a post about how long it took from the time GFCI was being investigated until thepublic knew about it. SEC investigator, James Valentino called me in May 2009. It wasn't until March 2010 that the invetigation was made publc. The announcement said that the indictment was the result of a 2 year investigation. That merans the investigation was a ytear old before I was called.

I decided to Gogle "James Valentino". I found something interesting! The SEC moves in mysterious ways, it's wonders toperform.!
___________________________________________________________
Once they subpoenaed Davidson’s bank records, McCartney’s team also tracked down the source of several large deposits. That led into a larger investigation by the U.S. Securities and Exchange Commission (SEC) involving $4.6 million in securities fraud perpetrated by the nephew and uncle team of Darrel and Jack Uselton.

Interestingly, the SEC’s investigation also began with the spammer, in this case from an email that landed in the mailbox of James Valentino, an attorney with the SEC.

“The email blasts seemed to be associated with the promoters of a stock dump and also the actual trading of stock to make it appear the stock was being maintained at an artificial level,” Valentino explains. “That led to our investigation.”

_____________________________________________________

It looks like that piece of spam that hit Valentino's InBox is what led to our possible restitution!

When Valentino called me he said that the SEC was holding money from the fine the Useltobs paid. As I recall he said it was $1.2 million. I've provided a link to the story about the Useltons. It says that one of the Useltons paid fines of $3.8 million. I suppose that the $1.2 million was what was attributed to the GFCI scam.

Along the way I've heard that the SEC is holding $1.6 million in the GFCI Restitution kitty. I've also heard that others has paid fines to avoid preocecution. That's probably where the other $.4 million came from.



The Uselton story:

http://www.networkworld.com/news/2009/031809-two-men-settle-stock-spam.html



B2B