Posted On: 03/17/2015 2:16:03 PM
Post# of 43066
My biggest beef is that victims provide an advertisement of how profitable it is to run scam stocks. Other crooks see Mr. Bordynuik defraud investors, get away with only a small fine and drive away in his Hummer to his affluent lifestyle, and they want to live the dream too. I would strongly prefer transparency and education as a method for reducing the massive amount of fraud that goes on every day in penny stocks...but the crinkling of the tin foil hats in the classroom make for a poor learning environment. I reluctantly admit some better enforcement is probably needed.
I think the SEC and OSC are experimenting--they spent very little in prosecuting Mr. Bordynuik for fraud and I suspect 95% of people wouldn't entrust their investment dollars to anyone who was caught cooking the books or who, as part of a settlement, admitted that his intent with the media credits was to defraud investors. The SEC and OSC put up a danger sign so investors can see that they're dealing with a company with a history of fraud. I think that's a good start.
I think the SEC and OSC are experimenting--they spent very little in prosecuting Mr. Bordynuik for fraud and I suspect 95% of people wouldn't entrust their investment dollars to anyone who was caught cooking the books or who, as part of a settlement, admitted that his intent with the media credits was to defraud investors. The SEC and OSC put up a danger sign so investors can see that they're dealing with a company with a history of fraud. I think that's a good start.
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
