Replies to post #343808 on Spongetech Delivery Systems Inc (fka SPNGQ)

[madeindet]

Scion are you aware of any entities that shorted Spongetech? There are front running short entities out there I heard. What about you? Elgindy like entities.

[starfire]

What is in Steve's plea................

18 U.S. Code § 371 - Conspiracy to commit offense or to defraud United States

Current through Pub. L. 113-100. (See Public Laws for the current Congress.)


If two or more persons conspire either to commit any offense against the United States, or to defraud the United States, or any agency thereof in any manner or for any purpose, and one or more of such persons do any act to effect the object of the conspiracy, each shall be fined under this title or imprisoned not more than five years, or both.

If, however, the offense, the commission of which is the object of the conspiracy, is a misdemeanor only, the punishment for such conspiracy shall not exceed the maximum punishment provided for such misdemeanor.

[madeindet]

"Payment of the Forfeiture Money Judgment shall be made by certified or bank check, payable to the "U.S. Department of Treasury."

Payable to the treasury and not the shareholders or victims?

How was the treasury dept a victim in this case?

[shajandr]

Moskowitz pleaded guilty to the Bomart letters in Count 2.

15 U.S. Code § 78j - Manipulative and deceptive devices

(b) To use or employ, in connection with the purchase or sale of any security registered on a national securities exchange or any security not so registered, or any securities-based swap agreement [1] any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors.

The emails and faxed Bomart letters are the "deceptive device or contrivance" referenced in Count 2, which Moskowitz pleaded guilty to, in addition to Count One.