Pimco New York Municipal Income Fund III V.PYN

Primary Symbol: PYN

PIMCO New York Municipal Income Fund III (the Fund) is a non-diversified closed-end management investment company. The Fund's primary investment objective is to seek to provide current income exempt from federal and California income tax. Under normal circumstances, the Fund invests at least 90% of its net assets in municipal bonds which pay interest that is exempt from regular federal, New York State and New York City income. The Fund may invest up to 20% of its total assets in investments the interest from which is subject to the federal alternative minimum tax. The Fund also invests at least 80% of its net assets in municipal bonds that at the time of investment are investment grade quality. Pacific Investment Management Company LLC (PIMCO) serves as the Fund's investment manager.

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Pimco New York Municipal Income Fund III

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Post by zoltar143on Dec 19, 2012 10:04am

168 Views

Post# 20749914

I see your point tdot

But this entire situation smells like a scheme. I totally agree with Acelove on that point.

It makes no sense that two "friends" did this. One posted a 3 month loan secured against Poynt and the other CEO agreed to the terms and conditions (willingly). AO should have had more sense. Come on guys, AO is not that stupid. Maybe he thought that the shareholders would be stupid to believe this "tale". This looks more like a plan to me.

Who know what was really happening in the background but I surely feel that someone is going to get charege for fraud. Maybe more than one person because the fish really smells stink.

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