Replies to post #318226 on Spongetech Delivery Systems Inc (fka SPNGQ)

[ewu]

If convicted, ???? wait to the truth all comes

[Avid_Trader]

Seeing Metter's track record its no surprise. Just goes to show you how the legal system is a joke along with the SEC.

such a shame for them to throw away something that had potential.

[Stock Stallion]

hummm says it all. once a crook always a crook. this time i hope he ends up in jail for this and all the past RIP-OFFS of others.

How anyone would believe a word Metter had to say about anything is beyond me. when he opens his mouth only lies seem to fly out

[Stock Stallion]

sounds like some of the posts i have seen here :)

“I would speak to Metter, and he'd say, 'Just stick with it; it'll get better,' but it never did,” recalls Mr. Townsend, who filed a fraud claim in 1998 and was awarded $457,000 by an arbitrator.

stick with it until you are broke!

[ewu]

Mr. Metter's lawyer, Jeffrey Sklaroff, says his client “vigorously denies” the government's charges and “looks forward to his day in court, where he is confident that he will be fully vindicated.”

[ewu]

Mr. Metter's lawyer, Jeffrey Sklaroff, says his client “vigorously denies” the government's charges and “looks forward to his day in court, where he is confident that he will be fully vindicated.”

[overachiever]

But, But, But, At the Noble conference, Metter said blah blah blah, so he must just be a totally misunderstood norwegian roof rat and surely deserving of shareholder trust. His altruism knows no bounds. Didn't he make a donation to an autistic children's charity? He is a class act once you get beyond the defective genes in his brain.

For people who have been fleeced by Mr. Metter over the years, the comeuppance has been a long time coming. “He's a mini-Madoff,”

[MorningLightMountain]

Alleged 'mini-Madoff' charged with fraud: fake orders, buyers

wow, being compared to Madoff.....sounds like good grounds for a SLAPP libel suit.....

[chipgiii]

And in five years (assuming he gets five), he can come out and do it all again?

[MorningLightMountain]

Last week, the law caught up with Michael Metter, a purveyor of kitchen sponges and stinky stocks with a long history of evading angry creditors and clients.

In a criminal complaint, federal prosecutors charged the CEO of Spongetech Delivery Systems Inc., a tiny Manhattan company that was once a big advertiser at such places as Citi Field, Yankee Stadium and Madison Square Garden, with conspiracy to commit fraud and obstruction of justice. The feds allege no fewer than 99% of Spongetech's purported sales were fake and Mr. Metter pocketed millions in illegal gains by pumping his company's stock price. He then sold billions of near-worthless shares to gullible investors. If convicted, the 58-year-old faces up to five years in prison.

Mr. Metter is intimately familiar with courthouses. He has been sued repeatedly over the years, instigated litigation of his own and declared personal bankruptcy. Last Wednesday, however, marked the first time he entered one as a defendant in a criminal case. Dressed in a blue blazer, open-collared shirt and rumpled khakis, he quietly responded, “Yes, sir” and “Yes, Your Honor” as a federal magistrate asked if he understood his rights. The judge granted his request that he be allowed to travel to Lancaster, Pa., this weekend to attend his son's college graduation.