Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : SLJB - Sulja Brothers Building Supply, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: rrufff who wrote (940)	12/1/2006 12:12:23 PM
From: Jeffrey S. Mitchell	Read Replies (1) \| Respond to of 1681

First off, calm down. These are message boards and we are, by definition, not journalists, let alone lawyers acting in a professional capacity. So when you say potentially inflammatory things like "You seem to be 'altering' the facts" you just sound silly. The check was payable to her (as trustee). She made the choice to have Petar deposit it in HER account (as trustee). No. All we know is the funds were deposited directly by Petar. We don't know if he did that on his own, asked permission, or was told to do so. Hence, my question. Read her posts about certification. She seems to say that the certification was real but that somehow the Canadian rules overruled it somehow and that the check became one that is normally cleared. No. She says that normal procedure is for only certified cheques to be put into trust accounts. This assures funds clear immediately so they can be disbursed immediately (which is necessary for doing various types of closings). The bank, because they also had the G&G account, and because the G&G account obviously had at least $143,800 in it, did not have to worry about NSF, so accepted the regular check and cleared it immediately. Either the equipment left Petar's ownership or it didn't. The cheque was fraudulent. PV apparently paid off his bills and got $62,000 for himself, so it strikes me as odd he would be the one to allege fraud. He wasn't financially harmed. Rather, he should be alleging that it was a legitimate business deal for machinery that was paid in full via a company cheque, and delivered. Not his problem if someone at G&G exceeded their authority or did something illegal. Unless he was in on the whole thing and the machinery never existed. Saying this episode does not pass the smell test does not mean one is convicting him. - Jeff