Replies to post #47849 on DirectView Holdings Inc (fka DIRV)

[JMCK6193]

I know I did DD

[jimr1717]

Incorrect and Noted, “ Caused 16 million in losses”

Try again

Damian Williams, the United States Attorney for the Southern District of New York, announced that ROGER RALSTON, the CEO of DirectView Holdings, Inc. (“DirectView”), a Florida-based video surveillance and security company, was sentenced to five years in prison for defrauding elderly victims in connection with an international telemarketing scheme that caused losses of nearly $16 million.

[jimr1717]

RALSTON and his co-conspirators sold DirectView stock to the victims based on telemarketers’ false representations and promises that the shares were a no-risk, short-term investment in a debt-free company and that the shares were likely to increase over 100% in value in a short period of time. In contrast to what RALSTON represented to victims, DirectView’s annual report filed with the United States Securities and Exchange Commission for the year ending December 31, 2010, contained dire warnings about the poor fiscal health of DirectView and the risk attendant in purchasing stock, including that the company “may be forced to cease operations” due to losses and cash flow problems, and purchasers “may find it extremely difficult or impossible to resell our shares.”

https://www.justice.gov/usao-sdny/pr/ceo-security-company-sentenced-five-years-prison-international-boiler-room-fraud-scheme