Replies to post #18893 on Bancorp International Group Inc (fka BCIT)

[Yukondan]

Serf, Great comment. IMO everything I bought was "real". If someone says it wasn't then my next question is, why do charge the same commission to sell fake shares as you do real ones? If my shares are fake, then my commission is fake and so are any losses that I might sustain. They cannot be fake when I want to sell but real when I want to buy. Logic like that only works in the government.

[earthenperson]

The shares you buy electronically are held in your account in "Street Name". When the trade settles, you are the Beneficial Owner and The Depository Trust Clearing Corporation (DTCC) is the Legal Owner and holds the Paper Certificates for any and all real and fake shares.

If you want to be the Legal Owner and take physical possession of the Stock Certificate, you call or otherwise contact your Broker and Order Out a Certificate.

Your Broker coordinates with the Transfer Agent and the DTCC. About the time your Certificate is mailed to you, the electronic entry in your Brokerage account will decrease by the share quantity you have ordered out!

For Naked Shorted Shares, there is/are no certificates anywhere! But there may be lots of electronic entries in your or other peoples accounts!