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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Ditchdigger who wrote (38496)1/27/1998 9:35:00 AM
From: Just My Opinion  Read Replies (2) of 55532
 
DD: How does a person sell someone else's shares through his account?
The first person does not have legal ownership of those shares, so IMO he is selling them short.
How would a broker be able to sell Zapara's shares without Zapara's permission? (I interprate your post to say that the broker would sell the shares in Zapara's acount to cover Mork's, problem)
It seems to me, that their is something called a margin call, and when Mork got into problems, the brokers would make that margin call.
This whole deal stinks to me, and maybe if the Zapara Mork thing does go to trial, the whole story will come out. Then all speculation will be over with. al
EDIT: I also think that under normal circumtances, if Mork was unable to cove, the firm would have covered, for him. Then they would have goneafter HIM, in court.
I think that the firm is responsible, ultimately, for the covering of the securities, and then they go after the wayward client.
al

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