Correct, but Jeffries and Company were allowed to not only process those trades based upon future delivery of stock, they were also never fined for hiding 111 billion short sales on the tape.
You also will see that Vince LoCastro was never charged for dumping over 2.2 Billion PCBM ex-clearing also thru Jeffries and Company.
why on earth would the SEC and the DTC and FINRA and the NYSE suspend the buy-in this long and not allow the market to "punish" or expose the short-sellers? cuz allowing
Because they were only short until they were able to deliver shares to close out their position. If you see, the global lock prevents anyone from trading this stock here in the U.S. and offshore. Gee glazman, why would the SEC be concerned about offshore BCIT trades?
of course i did, where would that CASH come from?
IDK, the settlement funds from JH Darby/Capital Growth? Maybe from the $800k Megas supposedly has spent on legal fees here?
cash would be hard to come by if the co. isn't trading o r doing biz
But Megas supposedly has huge assets.
you still cannot esplain how a broker can legally allow several hundred million short from insider or non-insiders on an OS of 4 million...
Easy. Everyone thought there was 4 million O/S until Megas mysteriously issues 240 Million plus shares for what amounted to pennies on the dollar. Now, who knows what the real issued number is until Megas actually files updated financials that he signs off on. Prove to the SEC that those massive issuances are still in Tom's and Stewart's hands as of 10/21/2009.
Gee, any agencies demanding proof of updated holdings via updated financials?
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