Replies to post #94938 on World Surveillance Group Inc (fka WSGI)

[Windrider]

Unfortunately Im sure there is some kind of time "limit" Mide, When does the SEC say we have had enough and revoke the reg? Thats the worry....

[BareBaxBo]

mide, we can only hope we end up with the same GTEM shareholder satisfaction as was in this case on this day back in 1995. It's hard telling who all our two criminals were involved with here in the US and abroad.

1995: Justice Dept. Indicts 11 Brokers
Looking to get tough on stock fraud, the Justice Department indicted eleven brokers in a case decided on this day in 1995. According to federal prosecutors, the brokers had developed an elaborate scheme to swipe large sums from their clients' holdings. Along with the usual round of fines, the government marshaled criminal sanctions in the case, meaning that the guilty brokers would likely wind up serving prison terms. The ruling marked the first time in years that such stern penalties had been levied in a fraud case. Following the announcement, Securities Exchange Commission chairman Arthur Levitt defended the strong-arm tactics, arguing that "the penalty for swindling investors is severe."
Source: www.history.com

[jfburk]

Good point, Mide, and I believe this company is working closely with the SEC to make sure they understand the process and why it is taking so long. I do not believe the SEC will take action against the company as long as communication remains open, honest, and timely.