Replies to post #64984 on Southridge Enterprises Inc (SRGE)

[samsamsamiam]

I strongly believe SRGE is an orchestrated pump and dump.
And I strongly believe the litigation by the SEC will look something like this:


The SEC’s complaint alleges that these fraudulent schemes generally followed the same pattern: xxxx and his accomplices agreed to sell large blocks of shares for penny stock companies in exchange for a portion of the proceeds. The companies put these shares in nominee accounts that xxxx and his accomplices controlled. The defendants pumped the market price of the stocks using wash sales, matched orders and other manipulative trading, often timed to coincide with false or touting press releases by the companies, to give the market the false impression that there was real demand for these stocks. After artificially inflating the market price of the stocks, xxxx and his accomplices then dumped the shares obtained from the issuers and divided the illicit proceeds.

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60. xxx arranged with xx CEO to have the company issue
numerous touting or misleading press releases between November 8 and December 20,
2006, which coincided with xxxx manipulative trading and helped further boost
the price ofthe company's stock. Indeed, on November 10, 2006, xx used the same
misleading NOBO press release tactic that xxxx had used days earlier for x and one month later for x. xx NOBO press release misleadingly
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suggested that ''naked short selling" was responsible for an unexplained "large short
position" in its stock. In reality, the alleged naked short selling was actually xxxx
dumping the shares he had received from xx.