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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Just My Opinion who wrote (49194)7/5/1998 1:44:00 PM
From: TideGlider  Read Replies (1) of 55532
 
Anyone: Something of note as not to be inaccurate. As it stands now I haven't seen any indication that criminal indictments are being sought in this case. So the term criminal is inappropriate in a technical sense, although the actions GNRO are accused of are covered within criminal statutes.

This is apparently (only reference is the newspaper article) a civil matter filed by the enforcement bureau of the SEC. This is not to say that the SEC does not view the acts as criminal, but it does indicate that they are not pursuing criminal complaints at this time. Frequently enforcement sections of regulatory agencies opt for the civil venue in the pursuit of many cases as the rules of evidence are more lenient and a favorable disposition more likely. A civil finding of responsibility for the acts requires only a "preponderence of the evidence" as opposed to a criminal finding of guilt which requires "guilt beyond reasonable doubt".

The civil case requires only a belief of greater than not that there was culpability. That may be as little as 51% vs 49%. The criminal weight for a finding of guilt requires that there is no reasonable doubt that the person is not guilty. In the case of a trial by jury it would require a unanimous jury for a finding of guilt, while a civil jury may only require a % majority, depending on the jurisdiction.

I have only read the article posted, however from that article it can only be said that Ron Reece and the principals of GNRO are being sued by the SEC for noncompliance with regulations.

That is not to say that the activities are more or less morally or ethically objectionable, just that it is not a criminal action.

We can see no jail sentences from this action. However, fines and other administrative sanctions as requested by the filing agency will be determined by a judge.

JMO

TG
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