The four stocks have been halted after they dipped by roughly 70% amidst rumoured margin calls and alleged connection to the mob.
The companies deny vigorously any connection to the 2 ex-Basic Investment, which is ARBs adviser, people: Gene Phillips and Cal Rossi which "stepped aside", according to one news release.
Only then after that news had been out, the margin calls came in, and ARB (the top company), admits to be not in a position to repay outstanding loans....much more as the $35MM loan in question is secured by ARBs stakes in 3 affiliates: IOT (30.9%), TCI (38.8%), and NLP (55.4).
....to be continued, for sure... |