Replies to post #233878 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[flptrnkng]

it would have been
acted on by the DOJ by now. That is certain.

That is not my experience. Charges and arrests can come years after the fact, and did in at least one case I'm aware of.

Regards

[puppydotcom]

It much more likely that (b) is where we are heading or we would have seen charges by now. If serious
criminal activity was in fact going on

DOJ follows the letter of the law in time requirement - so they can max out the statue of limitations if they feel its necessary

it can take a long time for criminal charges to take place
as example ...
cmkx was revoked in 2005 .. DOJ just recently files Criminal charges .. including IRS charges

[Jim Bishop]

Criminal charges typically take many months to a few years before being filed. SEC civil action normally comes first.

[tchalla]

lmao. man, you are naive. do you think that criminal charges in a case like this come down automatically or quickly? lmao you are showing everybody that you know very little about this world of trading or how the sec works in these types of cases. those kind of charges can often take 2 years to come, but when they come, they are pretty full-proof. the doj does not get involved "formally" until the sec has completed their investigation, but they do get involved behind the scenes much earlier. if the doj is gonna act here, they won't do so until they have all the evidence they need to indict. so, just hang onto your hat friend. give it time. imho