Replies to post #102689 on World Surveillance Group Inc (fka WSGI)

[siriuslyricher]

Did you miss this post? It appears that the investigation is over. The guilty parties have been identified.

Posted by: justfrank
In reply to: followingte who wrote msg# 102550 Date:5/1/2008 6:52:09 PM
Post #of 102689

Think so.


Read the last line in both these SEC filings is there something different in the two?

http://www.sec.gov/litigation/litreleases/2007/lr20371.htm

http://www.sec.gov/litigation/litreleases/2008/lr20550.htm

Also compare the wording from the complaint and from the wells notice, notice something missing?

[mide]

I think Jon was the whistle blower here.

And the return of kind from the SEC is a pass for him and a mild slap for GTEM.

We shall see.

As for the BOD getting a pass...they are normally viewed as arms length, and never get an SEC sanction...unless they are CEO/COB simultaneously..to my recollection...IOW, also hold an office in the corporation.

Let's hope my first premise is correct as to me, that means the worst penalty the company gets is a fine not to exceed the $30K that Huff has to pony up.

In the end this all appears to be the SEC wanting to really nail Joe and Luis, and I now understand the DOJ will bring formal charges against them.

Good and done.

m