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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: Bill Ulrich who wrote (3856)	10/16/2002 11:27:22 PM
From: Mighty_Mezz	Read Replies (1) \| Respond to of 12465

He was charged with fraud, yet they believed his financial statements??? Hello?? Earth to Harvey. the Commission did not seek a civil penalty based on Uselton's sworn financial statements."

To: Bill Ulrich who wrote (3856)	10/17/2002 2:45:21 AM
From: EL KABONG!!!	Read Replies (2) \| Respond to of 12465

Hi Bill, Let's give the SEC a small break here. As we all know very well, the SEC is not a police agency, and therefore cannot bring criminal charges against these guys, no matter how egregious the allegations might be. At absolute best, they can only assess civil penalties, disgorgement and possibly ban the accused from the public markets. In those very, very few cases where the allegations merit criminal action (aka: high publicity cases or particularly vexatious individuals), the SEC can go to the DoJ and request that the DoJ bring criminal actions. Again, as we all know, not all deserving cases end up being prosecuted. KJC