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Pastimes : Georgia Bard's Corner
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To: Ga Bard who wrote (3845)7/19/1998 10:42:00 PM
From: Dusty  Read Replies (1) of 9440
 
Gary, excellent point.

If an individual has not taken free shares of stock or money in any form from a company they have nothing to worry about.

But, if they do not have RECEIPTS to prove the stock was in fact paid for then there could be some BIG problems; and there should be.

It is possible to buy shares of stock directly from some companies. However, if this takes place the individual WILL also have a bank record of a wire transfer of funds or a receipt for the money paid to the company. It is my understanding that the company requires full payment UP-FRONT for any shares purchased. After the exchange of funds clear the bank then and ONLY then is the purchaser sent a certificate to the shares purchased.

If the individual is in possession of stock certificates or shares deposited to an account, and don't have a bona fide receipt; it is clear they got those share for free; in which case I would be extremely suspect of the individual.

Dusty
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