nuffie, ... "uncovered forged stock powers among company records which were used to facilitate the transfer of securities into brokerage accounts controlled by third parties."
Absolutely true as to the scheme. Edwards did just that. But, again, you are missing the context of the language.
The forgeries occurred at CMKX and were done then by CMKX insiders (including Edwards) usually when they signed Casavant's name on the front of a portion of the certificates issued by the company, but also in the creation of the stock powers stating who could sign for the trusts. That's why the documentation of those forgeries was found in the CMKX company records.
That reference to forged stock powers cited by you occured before the certificates were presented to Wells Fargo. The forgeries you are speaking about had nothing to do with the affixation of the medallion. Wells Fargo guaranteed the signature of the seller on the back of the certificate, not any forged Casavant signature on the front or any forged signature on the powers of attorney presented by Edwards giving him authority to sign for the trusts. ... eom
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