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Sunday, July 14, 2013 8:08:34 PM
before from high yield investment programs. These returns have been reported to the shareholders through press releases and filings with OTC Markets.
L L Bradford and Company effectively repudiated all of these prior period revenues, after tax profits, cash and cash equivalent assets and share capital / retained earnings when the compilation statements were prepared.
For the uninformed investor, all of the previous financial statements released by the company and its management prior to the accountant prepared compilation was in fact a grievous error.
The Bergamo accountants said precisely that!
It would be up to the SEC and the Courts to determine to what level of error was involved.
Was it an innocent error to report a billion in assets a few years ago? Was is an intentional misrepresentation to report tens of millions in after tax profits to the OTC markets? Was it perhaps as something more criminal?
I will not cast stones here but some serious questions need to be raised by the regulators, tax authorities and the legal profession to Bergamo and its directors.
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