Replies to post #111549 on ProTek Capital Inc (PRPM)

[B1gbtv001]

LOL. I met 6 people in FEDS who were there in FDC Miami for running penny stock fraud in pump and dump scams on pink sheets. US government takes this very seriously. I'm sorry you lost your money. Not my fault.

[Kool Aid Man]

"you are telling me US takes 0.0006 company seriously?"

--apparently so. The U.S. Securities and Exchange Commission took a very dim view of Eddie Vakser lying to investors about having audited books.. and then lying to them that he had hired someone to provide them. As a result they permanently revoked his first and most beloved ticker. Here are some excerpts they provided from his trip to the woodshed--

"The reporting requirements of the Securities Exchange Act of 1934 is the primary tool which Congress has fashioned for the protection of investors from negligent, careless, and deliberate misrepresentations in the sale of stock and securities. Congress has extended the reporting requirements even to companies which are ‘relatively unknown and insubstantial.’...

Artfest has been in consistent violation of the periodic filing requirements for over two years and three months, involving numerous quarterly filings and two annual filings with audited financials; that from its prior filings it knew what was required; and that it gave false representations that an accountant would soon submit audited materials because it has not paid $2,000, an amount necessary for the work to begin.

The Commission’s case law... is persuasive that it is necessary and appropriate for the protection of investors to revoke the registration of Artfest’s registered securities

https://www.sec.gov/alj/aljdec/2013/id485bpm.pdf

There's more but you get the drift.

So yes.. government agencies will get involved even with POS companies like Eddies. They don't like being lied to. They often compare notes and work together with other agencies to make examples of a few bad actors now and then. And they really don't like something bad happening especially after they've received credible info of wrongdoing going on under their noses. Whether there will be any such intervention here is anyone's guess.