There have been cases where someone falsified shares by pretending to be from the company, but the company against which that fraud was perpetrated got the SEC and FINRA involved and put an end to it. It was easy for the company (despite being a non-operating shell) to figure out because the outstanding shares exceeded those authorized by the company, which is why it seems very unlikely to me that Cascadia would ignore the same situation here. After all, naked short shares effectively represent theft from the company.
And while you may not be sure it's market makers, they seems to be the premise of most naked short sellers from what I've seen posted on the board.
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