SEC BLTA Investigation Cleared 3/15/16; No Enforce
Post# of 41413
Posted On: 04/14/2016 5:16:29 PM
SEC BLTA Investigation Cleared 3/15/16; No Enforcement Recommended
Part 1
Item 3. Legal Proceedings
During 2015, SEC Enforcement Division conducted a confidential investigation of Baltia. As of December 31, 2015 Baltia was subject to potential enforcement action. On March 15, 2016, the SEC officially closed the investigation as having no intent to recommend enforcement.
BLTA 2015 10-K:
http://www.otcmarkets.com/edgar/GetFilingPdf?...D=11318466
Interesting. The very same day SEC closes 2015 BLTA Investigation (3/15/16), SEC Files The Barry Clare Matter. Once again, to refresh your memory, the crux of the Barry Clare Matter is Clare acted as an unregistered broker for sales of Baltia’s common stock to investors. ( Not a SEC Required Registered Broker-Dealer).
This is very telling. Undoubtedly, the SEC conducted a very thorough investigation into BLTA. The ONLY supposed violation was that Barry Clare was not a properly registered broker when he solicited stock sales. (Mr. Clare will have his day in court)
https://www.sec.gov/litigation/apdocuments/ap-3-17172.xml
Baltia Air Lines and Barry Clare Dispute SEC Charges
JAMAICA, N.Y., March 17, 2016 /PRNewswire/ -- Baltia Air Lines, Inc. (BLTA) announced today that it is greatly disappointed with the SEC's decision to file an order against our Executive Vice President and Director Barry Clare after fully cooperating with the SEC investigation. Mr. Clare has worked tirelessly for our company and on behalf of our loyal shareholders to bring our business plan to fruition. We continue to make progress and will fight on regardless of these charges. We do not believe that Barry Clare has violated any laws, rules or regulations. We intend to defend and support Mr. Clare against the SEC charges vigorously in a public hearing. We are grateful for Mr. Clare's service without which Baltia would not have been able to continue its operations.
https://finance.yahoo.com/news/baltia-air-lin...00045.html
BLTA
Part 1
Item 3. Legal Proceedings
During 2015, SEC Enforcement Division conducted a confidential investigation of Baltia. As of December 31, 2015 Baltia was subject to potential enforcement action. On March 15, 2016, the SEC officially closed the investigation as having no intent to recommend enforcement.
BLTA 2015 10-K:
http://www.otcmarkets.com/edgar/GetFilingPdf?...D=11318466
Interesting. The very same day SEC closes 2015 BLTA Investigation (3/15/16), SEC Files The Barry Clare Matter. Once again, to refresh your memory, the crux of the Barry Clare Matter is Clare acted as an unregistered broker for sales of Baltia’s common stock to investors. ( Not a SEC Required Registered Broker-Dealer).
This is very telling. Undoubtedly, the SEC conducted a very thorough investigation into BLTA. The ONLY supposed violation was that Barry Clare was not a properly registered broker when he solicited stock sales. (Mr. Clare will have his day in court)
https://www.sec.gov/litigation/apdocuments/ap-3-17172.xml
Baltia Air Lines and Barry Clare Dispute SEC Charges
JAMAICA, N.Y., March 17, 2016 /PRNewswire/ -- Baltia Air Lines, Inc. (BLTA) announced today that it is greatly disappointed with the SEC's decision to file an order against our Executive Vice President and Director Barry Clare after fully cooperating with the SEC investigation. Mr. Clare has worked tirelessly for our company and on behalf of our loyal shareholders to bring our business plan to fruition. We continue to make progress and will fight on regardless of these charges. We do not believe that Barry Clare has violated any laws, rules or regulations. We intend to defend and support Mr. Clare against the SEC charges vigorously in a public hearing. We are grateful for Mr. Clare's service without which Baltia would not have been able to continue its operations.
https://finance.yahoo.com/news/baltia-air-lin...00045.html
BLTA
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