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Post by portrush on Mar 5, 2021 13:09:23 GMT -5
Tony Lopez, DOJ is talking 10 defendants in this case. CMKM Pinnacle SGGM USCA BioTech Global Diamond Exchange Equitable Mining OMDA Grand...Music...(didn't get this typed fast enough) Anyone who bought stock in these scompany may be eligible for restitution. CMKX has the biggest number of employees but any restitution collected would be divided month proven victims of all 10 companies. Providing summary of allegations which are listed in the Second Superceding doc on the website. The indictment started rumors of NSS was a rumor started by the company to cover the insider sales of shares taking advantage of shareholders. Only Turnino was convicted. Edwards and Casavant died before conviction. Be cause Turino died, he can no longer be held responsible. The DOJ searched Turino's estate but found no assets.  |
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Post by portrush on Mar 5, 2021 13:11:31 GMT -5
Not every CMKMX shareholder is a victim that can seek restitution. It is only if the DOJ can show the following for the victim: Offense Cause Victims Losses |
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Post by portrush on Mar 5, 2021 13:11:53 GMT -5
If your claim is naked short selling, that is outside the scope of restitution. |
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Post by portrush on Mar 5, 2021 13:12:22 GMT -5
If you bought shares before or after the fraudulent scheme, you would not be eligible because you were not harmed but the defendants. |
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Post by portrush on Mar 5, 2021 13:12:44 GMT -5
At most, you can only seek out of pocket losses--not expected gains. |
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Post by portrush on Mar 5, 2021 13:13:53 GMT -5
The most restitution that you can seek is what you paid for the shares. No $1 per share as restitution. |
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Post by portrush on Mar 5, 2021 13:14:56 GMT -5
It doesn't matter how many you bought, all you get is what you paid--if declared a victim. If they actually get restitution from the court, if the money is there to distribute and IF that amount comes to $25 per person. TODAY there is not enough to even make a $25 distribution. If you got 500 million shares as a gift, you're not entitled to restitution at all because you were not harmed. |
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Post by portrush on Mar 5, 2021 13:15:55 GMT -5
Restitution Recover steps: When did you buy How much did you pay Did you sell off any shares and if so for how much--because they only look at out of pocket losses. |
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Post by portrush on Mar 5, 2021 13:16:31 GMT -5
The key is what you paid minus what you lost---irrespective of share count held. |
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Post by portrush on Mar 5, 2021 13:17:12 GMT -5
By end of March, if you've sent a restitution request; we will hear one of three things: Based on what you provided: You're included Not included Need more info from you |
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Post by portrush on Mar 5, 2021 13:20:11 GMT -5
Once a final list of verified victims is complete then they will file a restitution order with the court. The DOJ has not received ANY recovery of ANY assets in this case. That shifts to payments by defendants after sentencing. Those people are only bit players with no money. What can victims receive and when?.... There are about 1000 victims in this case. At this point there isn't enough money to issue $25 to victims at this point. |
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Post by grouse87 on Mar 5, 2021 13:21:45 GMT -5
Lol. We aren't getting SQUAT! Wether your on a list or not!
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Post by lewis12 on Mar 5, 2021 13:22:49 GMT -5
There is not enough money to even give all victims $25 each. OY VEY!
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Post by portrush on Mar 5, 2021 13:24:53 GMT -5
CMKM shareholders are NOT the only potential victims here. This case does not include NSS This case is still open because of Vissokovsky How much would I receive? The court could issue restitution up to what you paid--but there are no funds collected to draw from. How do I know I'm a registered victim? You would get a VNS email notification. Those who submitted should hear by the end of the month. If you accept restitution, would you lose option to pursue other options? No, but if you pursue other options it might offset the restitution you may receive. Is there a difference between restitution and fines? In a criminal case restitution goes to harmed, fines are against the defendant. What next? DOJ will get back to those that filed VIS by the end of this month. They will file motion with court by end of April. They will do another Town Hall at the end of April. It was stated a few times, they anticipate only about 1000 shareholders that will actually qualify. If you have additional questions you want addressed in the April Town Hall, send them to the email address below. USANV.CMKM@usdoj.gov |
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Post by smeagle on Mar 5, 2021 13:25:02 GMT -5
So many people doing so much work and to end up with nothing. Sad. 
16 years of waiting to be dismissed in a 25 minute meeting.
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