PanAmerican BanCorp (PABN) Message Board

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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)

PABN 0.00001000

0.0%

Nov 7 9:30 AM EST

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To: PCModem who wrote (42367)	12/22/1999 7:44:00 PM
From: ColleenB	Read Replies (1) of 43774

I don't know what John did or did not do that got him into trouble with the NASD...they claim to know TO KNOW what he did in fact do. When that is clearly impossible. Unless they were there and witnessed it. ragingbull.com here, let me help you out, again....... THE SANCTIONS WERE BASED ON FINDINGS THAT JOHN A. SCHMITZ RECOMMENDED AN INVESTMENT TO A PUBLIC CUSTOMER WITHOUT HAVING A REASONABLE BASIS TO BELIEVE THAT THE INVESTMENT WAS NEITHER CONSISTENT WITH THE CUSTOMER'S INVESTMENT OBJECTIVES NOR SUITABLE FOR HER BASED ON HER FINANCIAL NEED. IN ADDITION, SCHMITZ MISAPPROPRIATED $20,739.72 RECEIVED FROM A PUBLIC CUSTOMER INTENDED FOR INVESTMENT PURPOSES BY DEPOSITING THE FUNDS IN AN ACCOUNT BELONGING TO HIS WIFE. SCHMITZ ALSO PARTICIPATED IN A PRIVATE SECURITIES TRANSACTION WITHOUT PROVIDING PREVIOUS WRITTEN NOTICE TO HIS MEMBER FIRM AND WITHOUT RECEIVING PREVIOUS WRITTEN APPROVAL OF HIS PARTICIPATION IN THE TRANSACTIONS. Message 11846407

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