Replies to post #23081 on Deep Blue Marine (DPBE)

[Bill de MT]

Thanks for posting this. I only received a short and vague email from Scottrade that my GTC was canceled. The 15 page SEC Order pertains to DPBE in only one small part on page 11.

"In addition to the suspicious activity that occurred in LBTN, the customer also used one of the two Leeb accounts to trade in a security called Deep Blue Marine, Inc. (“DPBM”) based on advance notice of promotional activity. In February 2006, Labi purchased 10,000 shares of DPBM at $.78 for the customer on the same day that the customer sent Labi an instant message advising him that promotional activity for the stock would begin that evening. The customer sold the stock three days later at $.92. These trades, based on advance notice of promotional activity, were suspicious. Under Leeb’s policies and procedures, Labi, Miller, and Gorgia had responsibility to detect and report suspicious activity in this customer’s accounts."

No mention of who the insider customer is. I checked all the other stocks suspended in the Order and DPBE is the only one that was still trading today. The others have been dead or close to dead long ago. The SEC whacked the officers of GAPJ last year for P&D schemes from 2004. In the grand scheme of the Order, DPBE's 10,000 shares involved seem like chump change. Hopefully, the insider wasn't a DPBE officer or employee.

So, I'm cautiously optimistic this thing will start trading again and not be damaged too much.

Does anyone have any educated ideas on when/how? Is DPBE done?