"Obviously if they had to withdraw their 'allegati

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Posted On: 04/07/2014 7:32:35 PM

Posted By: techisbest

"Obviously if they had to withdraw their 'allegations' they were either lying or they are full of shit. Which is it? Scumbags all of them."

Just read this line of nonsense.

The allegations were dropped as part of the deal that included JB not being eligible to become an officer (in Canada) for 5 years from the April 4, 2014, date of the agreement and paying $170,000 in fines.

Ridiculous to say that JB agreed to this because there was no basis for the original claims. Anybody who believes that is lying to themselves. Just like the last settlement between JB and the SEC.

But it's over. Again.

IT IS HEREBY ORDERED THAT:

a) The Settlement Agreement is approved;

b) pursuant to paragraph 7 of subsection 127(1) of the Act, Bordynuik shall forthwith resign any positions that he holds as an officer and/or director of any reporting issuer, as defined in the Act;

c) pursuant to paragraph 8 of subsection 127(1) of the Act, Bordynuik is prohibited from becoming or acting as an officer and/or director of any reporting issuer, as defined in the Act, for 5 years, effective from the date of the order of the Commission approving the Settlement Agreement;

d) prior to becoming or acting as an officer and/or director of any reporting issuer, as defined in the Act, Bordynuik will successfully complete the Partners, Directors and Senior Officers Course administered by the Canadian Securities Institute and report his completion thereof to the Commission;

e) pursuant to paragraph 9 of subsection 127(1) of the Act, Bordynuik shall pay an administrative penalty in the amount of $125,000 to be designated for allocation or for use by the Commission pursuant to subsection 3.4 (2)(b) of the Act;

f) Bordynuik shall contribute $45,000 towards Staff’s investigation costs in this matter;

g) pursuant to paragraph 6 of subsection 127(1) of the Act Bordynuik is reprimanded by the Commission; and

h) the allegations against JBI, Inc. are withdrawn.

DATED at Toronto this 4th day of April, 2014.