Post by imSINGLEruRICH on Nov 12, 2007 15:41:46 GMT -5
Sorry.....Although posted by someone today............Looks like this was just a part of an older article by Mark Faulk.... September 2006.... Interesting all the same !!
By: ezaltheladiespa
12 Nov 2007, 10:30 AM EST
OIL IPO this is where I found it:
faulkingtruth.com/Articles/Commentary/1065.html
NASD Charges NevWest in CMKX Saga...Justice at Last?
By Mark Faulk
By: ezaltheladiespa
12 Nov 2007, 09:15 AM EST
Msg. 623417 of 623501
(This msg. is a reply to 623412 by gr8hiker.)
Jump to msg. #
NevWest President Sergey Rumyantsev said today that “in our perception, we believe that we have fail-safes inn effect that go far above and beyond the industry standards. We feel completely wronged in this particular case.” Rumyantsev also questioned the NASD’s action against their company, saying that “we were singled out why were we the only one charged when hundreds of billions of shares were sold by other brokers?” [/size]
Another source close to the story echoed Rumyantsev’s sentiments, citing the serious problems with other major brokerage firms, including Ameritrade and Etrade, and the long and drawn out process of trying to issue stock certificates to bonafide shareholders, many of whom have still not received stock certificates over a year after the company initiated a cert pull in an attempt to determine if there were more shares sold than actually existed. This source asked whether the other offending brokers had filed Suspicious Trading Reports in relation to the well-over a trillion shares that many people claim were fraudulently sold to unsuspecting shareholders.
In the meantime, many questions remain in the CMKX saga. Why has it taken so long for regulatory agencies to take action against those who defrauded over 50,000 shareholders, and why hasn’t the SEC taken >any action whatsoever? It was reported last week in a court document involving John Edward’s wife Diana Lee Flaherty’s own stack fraud trial that Edwards himself is still under investigation for stock fraud, and there are unconfirmed reports of a major sting operation targeting dozens of others involved in the CMKX scandal.
In the broader sense, the shear scope of this scam, and the reported massive selling of counterfeit stock into the market that accompanied it, raises serious questions as to the system of checks and balances that protects our stock market. This reporter is certain that this is only the beginning, and that ultimately, many more people will be brought to justice in this case. Let’s just hope that the investigations don’t stop there, and that the major brokers are held responsible for their part in this financial train wreck, and that the SEC itself is made to answer for their ineptitude and failure to “protect investors and maintain the integrity of the securities market.”
ragingbull.quote.com/mboard/boards.cgi?board=CMKI&read=623417
By: ezaltheladiespa
12 Nov 2007, 10:30 AM EST
OIL IPO this is where I found it:
faulkingtruth.com/Articles/Commentary/1065.html
NASD Charges NevWest in CMKX Saga...Justice at Last?
By Mark Faulk
By: ezaltheladiespa
12 Nov 2007, 09:15 AM EST
Msg. 623417 of 623501
(This msg. is a reply to 623412 by gr8hiker.)
Jump to msg. #
NevWest President Sergey Rumyantsev said today that “in our perception, we believe that we have fail-safes inn effect that go far above and beyond the industry standards. We feel completely wronged in this particular case.” Rumyantsev also questioned the NASD’s action against their company, saying that “we were singled out why were we the only one charged when hundreds of billions of shares were sold by other brokers?” [/size]
Another source close to the story echoed Rumyantsev’s sentiments, citing the serious problems with other major brokerage firms, including Ameritrade and Etrade, and the long and drawn out process of trying to issue stock certificates to bonafide shareholders, many of whom have still not received stock certificates over a year after the company initiated a cert pull in an attempt to determine if there were more shares sold than actually existed. This source asked whether the other offending brokers had filed Suspicious Trading Reports in relation to the well-over a trillion shares that many people claim were fraudulently sold to unsuspecting shareholders.
In the meantime, many questions remain in the CMKX saga. Why has it taken so long for regulatory agencies to take action against those who defrauded over 50,000 shareholders, and why hasn’t the SEC taken >any action whatsoever? It was reported last week in a court document involving John Edward’s wife Diana Lee Flaherty’s own stack fraud trial that Edwards himself is still under investigation for stock fraud, and there are unconfirmed reports of a major sting operation targeting dozens of others involved in the CMKX scandal.
In the broader sense, the shear scope of this scam, and the reported massive selling of counterfeit stock into the market that accompanied it, raises serious questions as to the system of checks and balances that protects our stock market. This reporter is certain that this is only the beginning, and that ultimately, many more people will be brought to justice in this case. Let’s just hope that the investigations don’t stop there, and that the major brokers are held responsible for their part in this financial train wreck, and that the SEC itself is made to answer for their ineptitude and failure to “protect investors and maintain the integrity of the securities market.”
ragingbull.quote.com/mboard/boards.cgi?board=CMKI&read=623417
