GREY:TSTIF - Post by User
Comment by
eunice12on Dec 03, 2016 11:13am
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Post# 25550434
RE:RE:Unusual Trading patterns
RE:RE:Unusual Trading patternsI have only followed a few investigations but nothing was done to the perpetrators of evil, and it was way more cut and dried than your theory.
Look at Poseidon Concepts, a $1B fraud created and perpetuated by the US VP of marketing lying about the number of take or pay situations that existed. Eventually a new controller got suspicious of the massive accounts receivable that were never collected and told management prior to the quarterly financials. They ignored her and sent them out anyway, despite her showing that she had obtained the sales manager''s list and had called all the companies on it who either denied a TOP arrangement or told her they had never heard of Poseidon.
Only penalties were the salesman and the CEO and CFO were not permitted to be officers on public boards again for a while at least, plus I think the salesman and maybe the CEO and CFO got a $100k penalty. SEC and Alberta securities commission both investigated and chose those penalties.