Plus they nabbed that guy in California exactly as you described, got his real name, had FINRA pull the blue sheets, traced the trades, fake PR's, and everything right back to him.
But to think they're watching everything that is going on the OTC is between wishful thinking and a fantasy. They don't. If they did, with 99% of the tickers being pure scams or dead after the dump is over, the OTC wouldn't even exist.
Make no mistake about it, this is a scam. The reason the SEC got involved is because the bankruptcy trustee told them about it.
You don't set up a new corporation in Chapter 7 at all, you liquidate the company and shut it down for good. Even if it were not in Chapter 7 and instead in Chapter 11, that action would require a court motion and approval order to do. Likewise for the appointment of new officers, and there isn't a single blip in the docket of this Chapter 7 case stating anything about it. You cannot take custody of a shell of a company in bankruptcy, either, and even if the trustee fails to do what he's supposed to do (dissolve the company completely), it'll be a shell in its home state with the remainder of the $48M debt still attached and would require petitioning in Delaware's state courts for custody after the bankruptcy is completely done. Looking at the number of claims still in litigation, that ain't happening anytime soon, the trustee is still collecting up monies and has to divide it all up with the creditors. If a creditor is unhappy, negotiations, settlements, and then a motion to the judge and an order stipulating the payments will follow.
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