Oh wow.
It seems to me that the real problem here lies in ascertaining with certainty whether the "Cruz family" actually does have those B.N.I. Bank Indonesia guarantees that they say they're gonna pledge to U.S. Guarantee. Why would they have them, I wonder? Can I get some too?
This is good: "That all bank guarantees are free and clear of leans, hypothecation, and encumbrances". "Leans", snicker? PR written by a financial pro...
This is also interesting: "The guarantees are enforceable under the laws of the United States of America, are freely assignable without notification and without conditions, and that the instruments are backed by clean US funds clear of any criminal origin".
And what does this mean?: "These shares will have demand registration rights but will bear a legend stating in substance that the securities represented hereby have not been registered under the securities act of 1933, as amended, or any securities law and may not be offered, sold or otherwise transferred, pledged or hypothecated unless and until registered under said act and such laws, or such offer, sale or transfer, pledge or hypothecation is otherwise exempt from registration under said act and said laws".
I'm a bit confused. Does this mean that Fred can demand to register the shares anytime he likes?
And I thought it had been established that Fred isn't really a doctor. Though we know, of course, that Alvin Tang of U.S. Guarantee is a convicted felon, found guilty of fraud and forgery. Would you trust him with instruments worth $400 million? Should someone warn Fred, lol? |
