There is an enormous amount of very troubling allegations there. It seems there was a complete breakdown of ethics and regulatory compliance on all levels, including Interinvest and the recipient companies themselves.
Black seems to have known this was coming. He resigned from most of his positions with the penny stock issuers earlier this year, which is probably why the Canadian regulators have taken no public action against the Companies.......yet. I believe only one of the 4 companies involved has even made a statement on the issue, and that was Tyhee after the close this afternoon. Tyhee is already in serious trouble, as they failed to file their audited financial statements and were suspended by the TSX Venture Exchange and cease-traded by the BCSC. About a year ago, Tyhee agreed to acquire a majority position of Sutter Gold through the refinancing of Sutter's debt. Sutter has been struggling to try to reopen the Lincoln Mine in the Mother Lode district of California. Needless to say, that acquisition was never completed, which leaves Tyhee and Sutter in limbo.
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