what 700 million dollar ruling? this one
the 700 MM judgement was in fact a default judgement including punitive damages. It was not against the SEC, that is Altomare trying to confuse people. Basically, he and Gunderson got in bed with a "finance" company. the company was supposed to provide them with $$$ and USXP paid for it with Stock. The company did not comply, but instead dumped the shares into the market. Then USXP sued the company. the company disappeared offshore, and did not put up a defense, in fact did not even show up at court, so USXP received a default judgement. Altomare has since tried to confuse people into thinking that it was the SEC at fault. They had nothing to do with the case, in fact had Altomare issued the fraudulent company Rule 144 shares, instead of free trading shares, they couldn't have put them into the market, could they? Since his defense is that he has the right to issue shares by a bankruptcy court. Let's talk about that. they were capped at 500,000 shares and were to use the issuance only to pay debt that was on the books for the bankrupt company. altomare has issued in excess of 21 billion shares, and refers to this privately as his printing press for money. And if any company he works with doesn't accept his stock, then he simply defaults. Witness the fact that the Mets recently took down his sign in left field. Also, his e-mail is RAA@USXP.com, but he doesn't get it himself, it is received by his assistant Amy who then prints them and takes them into him, and he long hands a response which she has to type and send out. His laptop on his desk just sits on the yahoo finance page with USXP's stock symbol. Also, Altomare sued the SEC has a delay tactic because he heard they were snooping around him. His case had all 10 charges dismissed by a judge. Two of them, including the one where he said they owe him money, were dismissed with prejudice, which means that they can no longer be brought up in a court.
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