Here is my two cents. The SEC has been known recently to issue a two week halt while they investigate the vailidity of news and the must sift through mounds of info and papaerwork to determine whats going on and ion most cases (not all) at the end fo the two weeks news is issued sying most of the claims are false and the stock tanks.
Remember it takes a lot for the SEC to investigate in the first place.
I think in this case the SEC moved in to look at the files and the info and conduct and audit and there was simply ZERO back up for anything. Even the NR states in many cases there was NOTHING behind the buyout and that in effect all claims have been withdrawn and most importantly that Mario is cooperating.
I think once they showed up Mario simply knew he was caught - This was not a marginal case - this was not a possible Fraud. This was a calculated scam from day one and Mario has thrown up his hands and yelled "I DID IT DUDES - I'll give you whomever you want"
The SEC didnt need to halt it before issuing the NR of a complete scam - It was so cut and dry it was dead simple. And isnt that appropriate for Arizona. The SEC may never have had such an easy one.
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