Man, I HATE having to come and defend Wilf in ANYTHING. In spite of people thinking I am positive on Wilf's new ways, I am not. I think he is as bad as some portray him to be here. I pray for the day that he is not involved at ALL with DPBE, and we can break free of his yoke. He is an anchor on the company and the stock.
BUT
A lie is still a lie, And I want to say that things are not as they are portrayed in this case.
He did NOT steal $12MM dollars. Not even close.
" it was Wilf Blum who filed the FALSE 504s and stole from shareholders 12 mil"
What he did was legally file a 504 Reg D registration that allowed him to raise $1MM per year for a company known as Copper King. He lied on the form 504 about his own intentions with the stock he was getting, which shows what a scum he is, but he was able to sell stock and that in itself was not stealing from investors. he then sold $12MM of stock for the company. His commission was over $3MM, and the rest went to Copper King.
Bottom line is that the investors that invested in Copper King did not have their money stolen from them. He just sold more than he legally should have. But that's a big difference than stealing it. If they never got the shares they bought, THAT would be stealing. Instead, they got what they paid for, but he sold too many shares. And he, as a paid promoter, only kept his portion of the proceeds. Which is why the SEC disgorged his profits and added a penalty and why he owes less than $4mm in fines and not $12MM.
He did wrong. But he did not "steal $12MM from investors". As it is stated above it is not accurate.
