Pervasip Corp (PVSP)

[Bjones2]

I had similar experience

A broker that I was using, offered me a contract in which I was to agree not to sell a large amount of shares of a company that they had a large naked short position in and were not able to borrow shares to cover. They were very up front that they were short and were unable to secure shares to cover the short.

They offered me 8% interest on the shares value plus 3% bonus to agree to allow them to borrow the shares for 6 months, during which time I would not be able to sell them. At the end of the period they would return my shares etc, and I told them to go pound sand.

I saved the contracts and agreement just for laughs.

Big time squeeze followed