As Megas stated, his focus is not to right any wrong. This says it all, IMO. I read this stating that he does not care that he may have wronged the 'fake' shareholders, but also does not care about the original Indy shareholders either.
What a stand-up guy.
If he would have teamed with the 'fake' shareholders in the beginning, the estimated $750,000 that he spent could have been smaller. For example, how much of that was spent on suing the 'fake' shareholders.
Yes, the DTCC did not do their due diligence and solved that problem of the 250 million shares that entered the market thru their negligence. The issue is when the DTC discovered how he tried to swing a deal with Pino, that is when they recognized how much the delay of reporting the situation impacted the market condition of BCIT. Megas negligence that cause the delay of reporting to proper authorities resulted in over a billion shares to enter into the market by the end of Sept 2005. I hold the CEO responsible for the delay due to his greed and choosing to make a deal with Pino. As identified by his own admission of not focusing on righting any wrong, it is about the money.
I understand the difference in the US and Europe markets, but when a crime occurs, it pays to report it as soon as possible no matter which market you trade in. The CEO of BCIT, the one with fiduciary responsibility to the shareholders(in this case Indy), chose to ignore doing the right thing by reporting the crime to proper authorities for his own personal gain, thus causing many to suffer and now he has no intention of focusing on righting that wrong by choosing to blame others for his choice of filling his own pockets with whatever means possible whether legal or illegal. Two wrongs do not make a right.
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