I agree with you 100%...people like these guys need to be stopped. BUT...rarely does the SEC go after penny stock scammers because they get nothing in return for their efforts. These guys know very well that the SEC has limited resources and can pretty much run their scams with little to no repercussions.
Think about it...you have "investors"...you and dozens of others that lost money in the scam...some lost hundreds of dollars...many others lost thousands of dollars. The scammers know that very few..if any...of the investors will throw more money after bad trying to recover "something" in court...in a case that could potentially take several years. Unfortunately in 99.9% of these kinds of scams, the money is gone...the company has no assets of value, or very little value.
Typically the SEC just shuts them down as they did this one,and hundreds of others doing the same thing. The investor is left holding the bag with very little recourse.
on occasion the SEC gets a wild hair up their back side and makes an example of one of these scams...Conversion solutions (CSHD)is a good example...the CEO gets out of prison in 2031.
Unfortunately the SEC doesn't step in nearly as often as it should...and one can see by the myriad of scams still openly running.
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