Replies to post #14322 on Western Sierra Resource Corp (WSRC)

[gitreal]

Maybe someone's shares have come off restrictions, and they can now sell? Sometimes the "disclosure" in OTCMarkets will reveal who has shares they can sell, when they come off restrictions, etc. Sometimes not - disclosure to OTCMarkets is not exactly reliable, they disclose what they want to.

So what would be the motivation to run a scam here?

Money. Lots of money. WSRC (or WSRA as I fondly remember them) have run one shady promotion after another. Nothing ever backed up by facts or credible sources. This new one with the Sage Hen claims seems to involve claims that no longer exist, a mine that is not a mine, a recovery process that is completely inappropriate for placer gravels, and metals recovered from placer gravels that make no sense (PGM's like platinum), with grades and in-ground values that are ludicrous. There is no doubt that it is a scam. Every bit of it stinks. And they're not doing it for fun.....the motive is money. Your money.

[gitreal]

A quick peek at the latest OTC Disclosure for WSRC shows that there are two individuals with more than 10% of the company shares - Atkins and Jenkins.

Jenkins has 50 million shares, and enough time has gone by, they are probably no longer restricted shares. He would need to get an opinion letter to allow him to sell....but that is not usually difficult.

The interesting thing about Jenkins is that he is a convicted securities fraudster:

Arizona Man Pleads Guilty in Jefferson County to Securities Fraud
MONTGOMERY, ALABAMA (February 21, 2014) Brandon K. Falls, District Attorney for the 10th Judicial Circuit, Jefferson County, Alabama; and Joseph Borg, Director of the Alabama Securities Commission (ASC) announced that on February 20, 2014, Donald Leroy Jenkins, 65, of Prescott, Arizona, pled guilty to one count of Fraud in Connection With the Sale of Securities before Jefferson County Circuit Court Judge, Laura Petro. Jenkins was sentenced to five years imprisonment, split to time served with the remainder suspended and two years' probation. Jenkins made full restitution of $5,674 to the Court.
Jenkins omitted to state a material fact, in that he did not reveal to his victim that the security he offered was not registered with the ASC, as required by the Alabama Securities Act. ASC registration records indicated that neither Jenkins nor his company was registered to conduct securities business within, into or from Alabama as required by law. Jenkins was apprehended January 13, 2014 by law enforcement authorities in San Diego, California, based on a December, 2013 Jefferson County Grand Jury indictment. Jenkins, acting as agent for an out-of-state company, attempted to raise capital for a gold mining operation in Yavapai County, Arizona. The indictment also asserted that an Alabama investor was contacted and offered unregistered and non-exempt stock certificates and investment contracts.

The ASC cautions potential investors to thoroughly scrutinize and research any investment opportunity or offer. Contact the ASC with inquiries concerning securities broker-dealers, agents, investment advisers, investment adviser representatives, financial planners, registration status of securities or debt management programs, to report suspected fraud or to obtain consumer information. The ASC provides free investor education and fraud prevention materials in print, on our website and through educational presentations upon request.

https://asc.alabama.gov/News/2014%20News/2-21-14%20Jenkins%20AZ%20Plead.pdf