We may never know what triggered the investigation that led to Federal securities action against BGMO, because the SEC does not disclose this info.
I believe various people filed complaints with SEC over time, and with encouragement from the Vancouver guy, several more did this year.
There is a chance, the case was offshoot of criminal fraud investigation of Robert Fowler of U.S. Capital Funding scam, in which BGMO played a highly visible role, as one of the few companies to public associate itself with the Ladies Man. While many of us within minutes figured out the SBLCs were worthless (and US Capital had highjacked someone else's S&P rating), the great business leader HH kept promoting the SBLCs as good as cash for over a year, and maybe even presenting them to banks (an international crime).
The SEC has taken action to close down the BGMO scam. There is chance this is the end of the story, but given the continuing unrepentant actions by the insider gang, who doesn't know when to shut up, they may goad the SEC staff to keep going.
Can anyone tell how many shares have exchanged in grey market?
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