Sandstorm Metals & Energy Ltd STTYF

Coffintrader Busted

[carwash]

David Gouveia aka coffintrader busted by ASC!

https://www.albertasecurities.com/Enforcement/Enforcement%20Orders/DE%20GOUVEIA%20David%20DEC%202013%2003%2013%204456647v1.pdf

Read more at https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32339533&l=0&r=0&s=sli&t=list#VvAiTtLXCbqsJCJ7.99

[zentrarianNZ]

Pathetically small time bottom feeding compared with the market manipulation that happens on a routine basis among the banks and HFTers. And who is going after them?...No sympathy for "coffintrader" (who may have just put the last nail in his own coffin) but he's just another patsy in the grand scheme of things. At any rate, all Sandstorm investors need to know about this is that

[DayOfReckoning]

I don't think anyone who has been using Stockhouse for any length of time needed the ASC to tell us that "coffintrader" was a scummy, sleazy, manipulative POS.... ;)

[thegazelle]

Thanks for sharing this - quite interesting and I read most of the 34 pages.  What strikes me as odd is the motivation for him to manipulate the market, particularly when it did not result in a personal gain for him (profits or additional shares of Magellan) - I seemed to gather from the document that many times, he took a loss on the trade.  Unless he had someone else buying on the

[jsbarnby]

gazelle, It appears you missed the point. Yes, he lost money on his 500 share trades...which would be anywhere between $50 and $1000 based on the a share price of .10 and $2.00 but he was promised a large amount of options offered at a fixed price. By creating false liquidity and driving up the price he had enormous potential for profit.

[zentrarianNZ]

Correction to my post: It was, of course, Magellan and not Mutiny that was involved in this affair. And yes, that's the same Mutiny that Sandstorm Gold currently has a royalty agreement with. (Signed three years after the period in question, however, and again, no indication from the document that management was involved in anything other than, perhaps, overzealous promotion.) If there is any