Replies to post #167981 on CMKM Diamonds Inc (fka CMKX)

[gump90]

You better check that one out, Janice.

"""but can you refuse to produce documents?""". I'm surprised at you. OF COURSE HE HAS TO PRODUCE DOCUMENTS !!!!!!!!!!!! Sheeeeesh !!

[Investorman]

As the President of the corporation, if they subpeona him ducas tecum, he has to produce the documents. His 5th amendment privileges do not include corporate records.

[arete]

janice shell- you can refuse to produce your personal records, but I don't think that applies to corporate records or records in the hands of 3rd persons. BUT, here is the point. It doesn't matter who turns over the records, they will still indict UC. That was why he took the 5th on the stand. My strong guess is UC will make sure there are no records to turn over. I still think there will be civil penalties and then CMKX will shut down. It doesn't matter to UC. He has other shells (no pun) waiting in the wings or other companies he attach himself to and start all over.