I agree. As I said, the scenario I described was unlikely, and even if Tabb is found to have been a fall guy, I assume he would still be responsible for UPCA's train wreck. Not being a lawyer, though, maybe there are loopholes.
One thing is certain, though. Few if any of these scams would take place if there was better screening on PRs meant to scam investors out of their hard-earned money, either by the PR companies themselves or by the SEC. Or at least innocent investors would not be so easily taken in. Having fallen for some scams myself, I know how seductive a false PR can be, and how stupid one feels when the truth comes out (and when one realizes how much money has gone down the rathole --no offense, Ben). In fact, the SEC is by default becoming the PR screener, by blowing the whistle on suspicious-looking ones. I would much rather see them pursuing criminal activity directly, and having the PR industry police their own house.
Heck, AZNT put out a PR saying the had a creme to prevent AIDS, a cure for baldness, and gum that prevented cavities and they are still trading!
I suppose with Flores having been arrested, this leaves AZNT as the only company out there with an AIDS prevention medicine ("look Ma, no cavities and no AIDS") Will Johns Hopkins ever catch up? |
