Replies to post #148636 on Bancorp International Group Inc (fka BCIT)

[mastaflash]

The stock will stay with Etrade. - You mean the book entry stays with Etrade....there is no stock, and never was.

[CarltonH]

The shareholder gets his refund, he doesn't get his certs.

Agreed, but I should explain that apparently the Judge was highly unimpressed with the fact that a) the investor had already asked for a refund and been refused and that b) he had been asking for his certs not money for 6 years.

Everyone should remember that counsel for Etrade can only act on the instructions they are given, and were probably not privy to the WHOLE story, but it appears that the judge worked out that Etrade were not delivering because they did not have the certificates to deliver.

The investor informed the court he had another trade which would be subject to another case that he was bringing, and I am told it is at this point that the Judge advised counsel for Etrade that maybe their clients should think about delivering the shares rather than wasting the courts time and money.

[poor broke bloke]

he doesn't get his certs. The stock will stay with Etrade.

And what does etrade tell the Judge when the investor wants to transfer those shares "electronic or real" (both being fake) to another broker, say in London, who has no involvement with BCIT, yet?

Investor: "Here are my shares of BCIT. I would like to deposit them into an account with you."

New Broker: "Oh, sorry poor broke bloke, we can't accept that transfer, because there is nothing to transfer"

Investor: "What? Oh Judgy-Wudgy..... Can you help me Judgy-Wudgy?