Yeah, it really doesn't matter that Frank isn't a common shareholder. He can still dilute the stock, and use the proceeds for "business" purposes. I know of another pinkie CEO who was using the funds from stock sales to fund trips to Boca Raton, Orlando, and New York for "business." He was also using the money to pay for his car and all his other personal expenses.
So all in all, just b/c Frank doesn't have shares in his name, doesn't mean he can't get the benefit of running the company and using the money from selling shares. I kind of think the only way these guys can get caught is Al Capone style: by the IRS.....
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