Tuesday February 17, 4:35 pm Eastern Time
Company Press Release
D.H. Marketing and Consulting Announces Private Order of Investigation by SEC
HAWLEY, Pa.--(BUSINESS WIRE)--Feb. 17, 1998--The Securities and Exchange Commission has obtained a private order of investigation to determine whether there have been any violations of the securities laws by D.H. Marketing and Consulting Inc. (''DHMC'') or persons associated with DHMC.
''We fully expect that the Commission's investigation will not uncover any violations of the securities laws,'' said David Hagen, CEO of DHMC, who also stated that the company will cooperate fully with the SEC's investigation.
DHMC, a publicly held marketing company (traded on the OTC Bulletin Board under the symbol DHMG) is based in Hawley, and is being investigated regarding practices relating to its securities filings, including filing inaccurate reports with the SEC.
Hagen further stated that it is his belief that the investigation results largely from ''short sellers'' who have been wrongfully trading the company's securities for over one year.
Contact:
D.H. Marketing and Consulting, Hawley
David D. Hagen, 800/786-9613, 717/226-8515
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My initial comments: Well, I guess this is endgame now. Hagen will probably keep attacking the shorts and try to pretend everything is OK, while he and his buddies dump their shares. My guess is that he may leave the country at some point. Given his previous felony conviction and long arrest record, he could be looking at some serious jail time for this one, if things are as bad as they appear and the SEC turns the information over to federal criminal prosecuters.
All this was absolutely obvious to anyone who read the company's SEC documents. Why do scam artists always think that no one is looking?
Anyone wanting to bash me for this post, please note that I will be away from all computers until early March. I will insult you back at that time. <G> Best wishes all. |
