The problem with newswires "vetting" (confirming that who they are dealing with) should go beyond receiving an email with a PR draft, from an email account associated with the publicly traded company.
Anyone can spoof an email address although that was not the particular case here. Denise & Mark allowed the Majic Wheels domain to expire, creating an opportunistic environment for a fraudster to take it over & use it to submit/upload an email with a PR to ihub Newswire. At least that's my understanding of what occurred.
Why ihub cannot trace where the payment for the press release came from, I do not understand. After tens 2 hundreds of thousands of dollars were lost due to the hoax press release, Denise was essentially pushed by shareholders into contacting ihub, proving her identity and then instead of the press release being completely removed and replaced with an explanatory PR stating the details of what happened, they simply placed "DISREGARD" at the top left of the PR.
Disregard????
Thats all we get?
*poof!... all our money is gone because we trusted this newswire service to be accurate. Wouldn't anybody? After all, it's a press release. The authenticity/identity/confirmation that its author was a corporate officer of Majic Wheels should have been validated outside of receiving a simple email from the majicwheels domain.
Perhaps I have needs to assign a login and password or confirmation type of system on all press release submissions moving forward. Something needs to be done. This matter cannot just close. I've been in touch with the SEC as per Ihubs commentary that only "they" ( the SEC) can push for a subpoena to look into this case.
I strongly suggest that 100% of you here go on to the SEC website and fill out their complaint forum concerning Securities fraud. Be as detailed as possible.
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