Replies to post #27455 on PAIVIS Corp (fka PAVC)

[tax_man]

What's this about reach arounds? :)

Good summary, Dallas. It boils down to the SEC. Like you, I've filed numerous SEC complaints against JPHC/PAVC, the last of them at least a year ago, but unlike you I never even got a telephone call in reply.

I think the SEC takes a "buyer beware" approach to pinkies, which I understand, but then there should be a more vigorous effort to constantly and consistently educate the public about the risks. There needs to be better outreach to warn traders what they could be getting themselves into when they "invest" in these things.

The standard disclaimer about the risks associate with investing in pinkies doesn't suffice. It's nearly the same disclaimer used to describe trading on the big boards, yet the risks are far greater. They're greater because the execs of penny companies like Paivis can and do pretty much lie through their teeth with virtually no accountability or regard for the law.

[TheNoviceChicago]

The logic that they don't investigate and shut down pinkie scams, because they can't make a profit from it is just plain wrong. If that's the case, the system needs to be changed. Government regulators are not in businees, nor should they be attempting to profit from doing their job. There SHOULD be stiffer penalties. There's no doubt about that. How many times do you read about an "investigation" where a bank or broker profited $1B, but they receive a fine of $40M, admitting no guilt? It happens too often. Not only that, but the SEC should be providing a public, governmental service to ensure fairness in the markets AND seek to protect INVESTORS. The "profits" should be given to the investors that were scammed. Not only that, but how many times and how deep does a scam need to go, before anything is done? Some of these companies pull the same crap over and over for YEARS. If and when they get "caught", it's usually over something that happened 5-6 years ago. In the meantime, they were allowed to continue their scams and aren't held accountable for anything they did AFTER the timeframe of the original investigation. But I guess this isn't a perfect world.