Replies to post #27715 on Bancorp International Group Inc (fka BCIT)

[janice shell]

I don't know who the TA was, if there was one at all. If they weren't above forging signatures, who's to say they needed a TA.

Of course, technically they needed a TA. But as you say, rules don't impress 'em much.

Don't companies sometimes act as their own TA's?

Yes, but the SEC frowns bigtime when penny stocks do that. Also, they can't cut more than 500 certs without registering with the SEC. Of course we don't know how many certs were cut...

Why couldn't Pino have just given the invalid stock to the selling brokers that he used, and just said "here, dump it"? I doubt very much "doing things buy the book" was a priority for them..

I don't think that would have worked. Even the slimiest broker would have wanted someone to blame if things went wrong; i.e., a TA.