Prospera Energy Inc. V.PEI

Guru

[traderguy5000]

I looked at the Guru site about a month ago, when I first became aware PEI was a client. There was a glowing article on PEI. It appears to have been removed and replaced with the less flattering edition. From star to fraud in a month? How did that happen? Check out the site. Positive coverage on clients, and quite negative coverage on former client, PEI.

[geric]

What a great read that was!  I guess just sit back and see what happens.  I don't understand how the CFO still has his job.  He would've been complicit in all the shenanigans.

[McBolly]

Absolutely. And if this is how he is handling debts for contracts that he let the company sign knowing that they couldn't pay, then he wasn't just complicit, he facilitated it all. Makes me wonder if he was signing off on expenses including his own while not paying vendors and borrowing money from shareholders.  After this debacle he will never be a CFO again at least. 

[geric]

Once the auditor's investigation is complete he might be out.

[McBolly]

Possibly. I sort of doubt he did anything wrong accounting wise. He didn't hide any of this in the financials, it was all there. But certainly as a CFO he will not act in the best interest of the shareholders above his own personal interests. And when he knows something is wrong with the company he won't whistleblow as he should. The stain from this outcome is not one he will be able to