Message 15040863
To:TideGlider who wrote (43838)
From: ztect
Monday, Dec 18, 2000 10:51 AM
View Replies (1) | Respond to of 44786
TG, regarding Bruss. Swift?
Wrong again, over two years isn't swift.
Terms of settling haven't been listed or
even cited by the SEC yet, there was only
reference to it in the tigi's filing.
Settlement in Civil matters also often occur
because after several years of paying legal fees,
people get tired (worn down) defending themselves against
the government which is persistent and has
your tax dollars to drag out litigation, therefore
rather than continue people reach terms
without any admission of guilt.
Settlement can occur QUICKLY when the case is strong.
Strong cases lead to quick assessment of
severe penalties and "disgorgement"
of funds received. QUICKLY is a matter of
months not years.
Settlement typically doesn't occur when
cases are strong and not
protracted or the defendants think they'll
get better terms per the judgements.
The SEC doesn't list the cases they've lost
or instigated but didn't follow through.
Read through SEC Administrative proceedings
sec.gov
Bruss case still hasn't settled after
over two years.
Below is the email response I received in response
to my queries to the company about Jeff Bruss, which
are more logical, in lieu of the LONG time it has
taken, than your persistent and repeated effort
to use allegations as demonstration not
only of guilt pertaining to the alleged items
but to the person's entire character.
If you were accused of a crime like pedaphilia,
and later to be found innocent despite a child's
testimony and sensational reports
on the news, should you never be allowed around children
again based on allegations?
Anyway, here's that response I received from Paul Henry
pertaining to Bruss's past:
============================
From: Paul Henry
To: ztect
Subject: RE: Jeff bruss
Date: Tue, 21 Nov 2000 20:12:26
ztect,
Yes, it is the same Jeff Bruss. We have disclosed in the 9/30/00 Form 10Q
what we feel is appropriate, in view of the our understanding that the case
is not yet closed and that we are not supposed to release the details of the
proposed settlement. It would appear that in the settlement Jeff will not
admit nor deny the allegations in the complaint.
Jeff has told me that he attempted to make the proper disclosures in his
newsletter and hired a first-rate SEC lawyer to do so. The SEC thought Jeff
should have disclosed more and done things somewhat differently, and came
after him. They have spent two years trying to settle this thing, because
Jeff felt he hadn't really done anything wrong but the SEC disagreed and
wanted to get something from him after all the time and expense involved.
Paul
============================================================
Regardless over two years of legal fees and aggravation
from protracted litigation, are quite a big incentive
not to repeat mistakes that can potentially get one
in trouble.
But then again, living in a Kafka novel makes
one believe that one is guilty for life even if
proven innocent without even ever listening to
the defense.
So why don't you give Jeff and his attorney a call
and get both sides of the story?
Or would you rather live under the Khmer Rouge?
As always- sincerely,
z |
