Sunday, August 18, 2013 3:59:36 PM
I'm sad to say that Ray Vuono, who is a recidivist securities violator, is not even close to the worst I've seen. Some companies are pure fiction including fictional executives. SRGE is one such example. After the SEC suspended the stock and the scam was being futher exposed, the IR representative went to far as to plant a story in the Mexican press that the (fictitious) CEO and CFO were found murdered in a remote river in Mexico.
It's unfortunate that some investors consider communications from OTC company CEOs to be reliable due diligence. In my watching penny stocks for over a decade, people who rely on such information for investment decisions usually end up losing money.
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