The FINRA document quite clearly stated what they thought of Lumb.
10. Customer SL, a citizen of South Africa, maintained at least eight accounts at Avalon for which Au was the broker. Each of these accounts was for Wyoming corporations utilizing
the same Bradenton, Florida mailing address, and SL was the individual authorized to act on behalf of the accounts.
11. According to information in publicly available news articles, in 2001, two companies for which SL was CEO were suspended by the Johannesburg Stock Exchange for failing to file financial information.
12. Contemporaneous news articles available on the internet also stated that in or around July 2007, SL was banned for three years from serving as a director of a public company in the United Kingdom following the delisting of a company from the London Stock Exchange's Alternative Investment Market ("AIM") for failing to comply with AIM rules.
Unfortunately, FINRA was going after Lumb's crooked broker, not Lumb himself. Ironically, they were prosecuting the broker because they felt the broker should have been aware of Lumb's crooked behaviour. FINRA was obviously aware of Lumb's criminal actions, or they wouldn't have prosecuted Lumb's broker. Why they didn't go after Lumb, I don't know except that maybe it is harder to go after a foreign citizen not in the U.S.?
So, this fine upstanding citizen Mr. Lumb is GNCP's main shareholder and latest creditor?
Market Data 
Markets 
AI
