Post # of 77338
This just posted by IHUB. Seems similar activity with Baltia, and with hundreds of others in the OTC. So beware to all who are assisting these predators we call Market Makers... yea, like playing poker where the dealer can see all your cards, and he is holding the jokers. So who keeps banging away all the time about this stock. We are watching. Hope Baltia management is aware of this.
GeckoSystems Praises Recent SCOTUS Decision Re: Alleged PUMA OTC Spoofing
Date : 10/19/2016 @ 2:15PM
Source : InvestorsHub NewsWire
Stock : Geckosystems Intl. Corp. (PN) (GOSY)
Quote : 0.007847 0.000347 (4.63%) @ 2:02PM
GeckoSystems Praises Recent SCOTUS Decision Re: Alleged PUMA OTC Spoofing
Alert
CONYERS, GA -- October 19, 2016 -- InvestorsHub NewsWire -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.GeckoSystems.com/) announced today that the ramifications of a recent Supreme Court of the United States (SCOTUS) ruling --that expands States Rights-- is of particular relevance and potentially dramatic benefit to their shareholders due to probable recent, rampant illegal spoofing of the companys stock by Puma Capital, LLC. (PUMA), an entity owned by an El Salvadoran enterprise, HB Capital, routinely engaging in forfaiting. For over nineteen years GeckoSystems has dedicated itself to development of "AI Mobile Robot Solutions for Safety, Security and Service(tm)."
Forfaiting involves the purchase of future payment obligations on a without recourse basis. Forfaiting can be applied to a wide range of trade related and even purely financial receivables and payment instruments. For example, naked short stock positions may be traded (bought and sold) such that they are a type of put due to the lack of recourse.
Mr. Antonio Arbulu is Head of Forfaiting, HB Capital, a sibling (parent?) corporation of PUMA. He has over 23 years banking experience in the Latin American markets, specializing in forfaiting and corporate finance. http://www.hencorp.com/team.html
Mr. George I. MacLeod is the present director of Dalriada Finance & Investments Limited, located at 18 Yardley, Bracknell RG12 8QS England. https://beta.companieshouse.gov.uk/company/09774917/officers Some of his many past, now dissolved companies, include, but are not limited to: Lion and Dragon Limited, Fireflower Systems Limited, and Ascot Legal Services Limited.
GeckoSystems management filed their RICO suit in July of 2015. http://tinyurl.com/gou7bcf Management is of information and belief that Mr. MacLeod has engaged, and continues to engage, in racketeering activities that he and his co-conspirators have created and maintained a significant naked short position in the companys stock in concert with others such as Mr. Neil T. Wallace, PUMA, etc.
Naked short positions can be farfaited.
The SCOTUS decision is the most significant for companies that are small and technology driven such as GeckoSystems by enabling state courts to have jurisdiction in other states to lower litigation costs for plaintiffs seeking damages for naked shorting, propagating false rumors to depress the company stock price and receive unjust enrichment to garner significant monies. Many of those companies have suffered for years while they have seen their stock manipulated by naked shorting and false rumors, all done to drive the stock price down for excessive and illegal profits to brokerages, such as Merrill-Lynch. On July 10, 2015, GeckoSystems senior management and majority stockholders filed a Georgia Racketeer Influence and Corrupt Organizations (RICO) Act suit in the Rockdale County Superior Court in Conyers, GA. http://tinyurl.com/qhl3uzu
Stock manipulation frequently fits the pattern of illicit racketeering.
For some years, all of our shareholders and the tens of thousands that hold stock in other stock manipulated (such as spoofing or refusing to sell at Ask to preclude being forced to cover naked short positions) companies have suffered losses due to ongoing stock price manipulation by brokerages large and small. These predatory brokerages (see below examples), intent on making more money as they false rumor the price down to cover their naked shorts to achieve unjust enrichment, have hidden behind the now pierced veil of only being sued in Federal courts or by futilely complaining to either/or the severely underfunded SEC and/or FINRA. No doubt, it is readily apparent that this new States Rights affirmation by SCOTUS will be welcomed by the thousands of publicly traded companies preyed upon since they could not afford to initiate and consummate litigation successfully in Federal courts previously.
Presently we are of information and belief that one of the Defendants in our RICO suit, Neil T. Wallaces family, in concert with George I. MacLeod, have exploited several market makers possible, but not probable, ignorance of the far reaching impact of this recent SCOTUS decision. We have notified Puma Capital, LLC (PUMA), G1 Execution Services (ETRF) and KCG Holdings (NITE) of our present beliefs. Since Mr. MacLeod left the US unexpectedly, we are of information and belief that Mr. Wallace has been, and is one of his domestic fellow racketeers.
Note that PUMA has been sanctioned by FINRA in the past for certain manipulative short selling, naked short selling or other illegal short selling activities relating to the trading of a company's common stock.
Please see PUMA's most recent broker check report from FINRA. Its states interalia, that "PUMA Capital, LLC failed to properly mark a sell as short on its ledger in 324 instances." A copy of their broker check record can be found here (click on "Firm" and type in "Puma"
: http://brokercheck.finra.org/ Read the Entire Filing: http://brokercheck.finra.org/Report/Download/50987249
As of September 7, 2016, FINRA confirmed:
... THE FINDINGS STATED THAT THE FIRM'S SUPERVISORY SYSTEM DID NOT PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH RESPECT TO THE APPLICABLE SECURITIES LAWS AND REGULATIONS, AND FINRA RULES...
Continuing, KCG Americas and Susquehanna International Group LLP (dba E*trade) have been sued and fined for their illegal activities. Below are a few examples in the links below:
KCG Holdings, Inc. (NITE)
Class Action Lawsuit against the SEC, FINRA and KCG Holdings
http://tinyurl.com/jnlpf3y
G1 Execution Services, LLC (ETRF)
FINRA investigating E*Trade for potentially rigged markets
http://tinyurl.com/z3etpzw
E*Trade units to pay $2.5 million to settle SEC charges over illegal sales
http://tinyurl.com/h4aff3b
At this time, we are not 100% sure as to whether these brokerages are knowingly working with the Defendants in our active GA RICO lawsuit or not. However, in applying the principle of Occams Razor, the simplest theory that explains market makers such as PUMA, denying stock price appreciation by illegal spoofing despite their self-proclaimed statements that they hold GOSY stock, but nonetheless withhold any specific facts to support that claim, is that they really are illegally holding the stock price down. Because of that pattern, they have been contacted (Eg., Mr. Joshua Greenstein, Chief Compliance Officer of PUMA) several times regarding the seriousness of our concerns and informed that we believe, with some substantive predicate acts, as is actionable under RICO, they are assisting MacLeod and Wallace to GeckoSystems shareholders' financial detriment of several millions of dollars, stated Martin Spencer, Founder/CEO, GeckoSystems Intl. Corp.
Naked short sellers squeezed by Supreme Court
Published by AMI Newswire May 16, 2016
In a sweeping blow to Wall Street investment giants, the U.S. Supreme Court today unanimously allowed lawsuits against "naked" short sellers in state courts to proceed.
The high court ruled unanimously that shareholders are not confined to federal court when seeking recourse for securities violations. Granting due deference to the important role of state courts, the Court reinforced federalist principles while clarifying congressional intentions to limit the federal governments role.
The ruling, which could give a new boost to startups and small companies targeted by short sellers, showed a rare moment of ideological agreement in the court. Justice Elena Kagan authored the Courts opinion, and Justice Clarence Thomas, joined by Justice Sonia Sotomayor, issued a concurrence.
In 2012, businessman Greg Manning sued Merrill Lynch and other financial institutions in New Jersey state court for purposefully devaluing his company through systematic naked short-selling a term used to describe selling a stock a seller does not own and has not borrowed. In standard short sales, traders either borrow a stock or make sure that it can be borrowed prior to selling it short in the hope that its value will fall before the transaction must be covered.
The practice has come under increasing scrutiny and has been banned in Germany and other major economies.
Read more: http://tinyurl.com/jgz257w
The complete SCOTUS opinions are here: http://www.supremecourt.gov/opinions/15pdf/14-1132_4g15.pdf
Continuing from the article Naked short sellers squeezed by Supreme Court: (Underlines added below for emphasis.)
While legitimate short-selling remains an accepted financial practice, manipulation by false rumors and naked short-selling has taken a serious toll on emerging industries. Biotechnology industry insiders have for years pleaded with the SEC to block the illegal short selling and false whisper campaigns that plague the industry. Smaller technology-driven companies frequently lack the resources to deal with attacks that drive down stock prices, crippling research and development budgets.
Read more: http://tinyurl.com/jgz257w
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