Replies to post #185552 on Fortress Financial Group fka FFGO

[AlanC]

OldBen: The regulators have known for over 10 years about naked shorting. Initially they denied there was any such thing but as more and more information became public they had no choice but to admit it. It was wrong then and is wrong now but still they are allowing it to happen. Naked shorting could be stopped tomorrow if the regulators chose to stop it. The regulators chose it ignore over 5000 complaints filed by comapanies that were subjected to naked shorting as well as investors. You can read about it in greater depth by reading the Inspector General's report.
The Overstock jury trial begins in December against the investment banks complete with RICO charges. This will expose this practice like never exposed before.
Do you honestly believe the FINRA numbers and the FINRA omission of numbers are simple mistakes? I think not. FFGO imho went to the regulators with proof of the short and the regulators bought some time suggesting in the meantime FFGO annouce the dividends which represent damages done to Great West Gold and Fortress Financial and then go dark buying the regulators some time to try and clean up the mess our markets were in. It has taken longer than anticipated to accomplish this but were it me I would have insisted on an outside date to have this completed and I sure hope FFGO management did the same, hence my thinking that yearend is the outside date. Time will tell all but I believe the payment and record dates will be announced soon. Too much has been stolen from too many by too few. Go FFGO!!!
A dividend of 3400%+ is awesome!
I do not believe the fact that the deal was a collaberative one will ever be public knowledge.
BTW the regulators recently completed the HGLC investigation. No FFGO connected party was charged in any way.
The SEC could have attempted to revoke FFGO's registration since they have not filed. They have not done so because to do so would expose this situation for public viewing. That was done once and it caused lots and lots of work and expense to the parties involved including the DTCC.