Replies to post #375338 on NanoTech Entertainment Inc (NTEK)

[todd72113]

I cannot wait till they snare the foleys and Blankenship up. My wish is they are all forever financially ruined and can no longer operate anymore schemes such as these.

[Zorax]

The disgorgement isn’t now off the table, nor is pre-judgement interest - that is clear from the filing. Jeff Foley will be forced to pay back some portion of those ill-gotten gains. His financial life is ruined forever, regardless of the amount. The SEC might take a more narrow view as to what amount is to be disgorged based on his level of past and future cooperation, but he’ll suffer regardless. And his involvement with NTEK, NTGL or any other penny play is over.

Bev, you've been great in your tenacity and keeping us posted and I sense you're literally overjoyed more than most in finally maybe seeing the ending of this scam enterprise. If you were personally involved and got out or were ripped off by the principal, I for one am very happy for you.
That said, I just can't share your exuberance and certainty in some of your conclusions.

I have witness far too many ceo's and insiders walking away from clear scams and doing well. Like moski of spongetech fame. He was right back on the internet, and partying like it never happened. I doubt he paid anything back. He of course, like the principal blamed every one else and they were out to destroy him. I've seen many others whose financial situations didn't suffer and still going after a SEC lawsuit. Of course, a minimum of bad actors have seen jail time after the fact.

I know you're guessing and hoping that bennie and jeffy spilled their guts, but I will sit on the fence on that. Sadly, I don't think the public will ever know how their court sessions went down or their interviews. But you may be right that a trial may have an entry of their 'discussions' with the prosecutors. And you are probably right, it's looking like it's down to the last few players, the principal and his wife and river north. There are a couple of people left with n-t-gl that may still impact things.

I submit that both of them will also get the same initial sentence exactly like bennie and jeffy. It's what happens after or during the SEC proceedings if it goes criminal. Then nothing the SEC does to them will come close to the doj.

And btw, the principal also agreed not to contest anything. But that didn't stop him from doing so, and creating another year or two of delays. So there's that.

Thanks for everything so far.