Replies to post #6514 on NIR Group

[BSWB]

Just a guess, but I would be willing to bet that there are very few, if any, NIR funded companies that paid down/off the notes with cash.

If they had money, they wouldn't have needed the predatory, toxic loans that were their specialty.

[jurisper]

I don't know anything about ITRO, sorry.

In general, I think there are probably many Ribotsky deals where nothing was ever paid and not all share issuance obligations were honored. As I say, at least by the end of the scam, CR's intent IMO in many cases was just to keep the tickers trading & continue to provide market marks he could use to inflate the value of the funds and keep extracting fees from his investors.

I guess PWC may go after some of the portfolio companies to get them to pay up, but from what I've seen, most of them are worthless crud without any value to extract. Given their deposition demands in the bankruptcy action, I guess they'll also look at going after some of the companies' mgt on a personal basis, if they can find evidence of collusion etc.