Replies to post #336821 on Spongetech Delivery Systems Inc (fka SPNGQ)

[zomniac]

If you rob a bank,
get caught,
post bail

can you still go on vacation and live large on the proceeds until sentencing ?

Interesting

[scion]

Free-spending fraudster

By KAJA WHITEHOUSE
Last Updated: 9:20 PM, September 29, 2011
Posted: 9:19 PM, September 29, 2011
http://www.nypost.com/p/news/business/free_spending_fraudster_Ioewmtus58FxsnpMykLeqI#ixzz1ZQmJKfaP</a>;

Steve Moskowitz, the disgraced financial chief of pump-and-dump scheme SpongeTech Delivery Systems, is battling with government regulators over his exorbitant monthly spending. In a letter to a Brooklyn federal judge, the Securities and Exchange commission said that it had reached a deadlock in negotiations over an allowance for Moskowitz, who pleaded guilty in the criminal case and is subject to an asset freeze.

Moskowitz, of Flushing, NY, demanded a whopping $27,850 a month, according to the letter. The SEC came back with $5,072 a month, including $2,272 for his mortgage and real-estate taxes. Moskowitz, who used phoney customers to inflate SpongeTech’s revenues, countered with $15,000, “but no less.”

“The commission cannot agree to this amount,” the agency said in the letter, and is seeking assistance from the judge.

[e-mail]

http://www.nypost.com/p/news/business/free_spending_fraudster_Ioewmtus58FxsnpMykLeqI#ixzz1ZQmJKfaP</a>;