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AndyG

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Posts: 34
Reply with quote  #1 
Turn slowly.

While all fraud cases are different and have various idiosyncrasies particular to only that case, the purpose of me providing this link is to remind everyone just how slowly the wheels of justice turn. 

I have been following a fraud case involving a company called Mantria in the Phila. area.  Essentially, Mantria was a Ponzi scheme.  (I know it's complicated, but in essence wasn't BD also a Ponzi scheme?)

The following quote is from the link below:

"The Securities and Exchange Commission initiated civil securities fraud proceedings against Mantria in Colorado in 2009, shutting down the company. The SEC obtained an injunction preventing Mantria from raising any new funds and a court-appointed receiver liquidated the company's remaining assets."

Mantria was shut down in 2009.  In Sep. 2015 the people involved were finally charged with a crime. 

Here is the link:

http://www.phillyvoice.com/mantria-corp-officials-charged/

Charles has plenty of time open and close accounts, bury and dig up metal and cash, travel to far away lands, pay college tuition, and rent vacation homes.  Remember, he is innocent until proven guilty. 

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JG

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Reply with quote  #2 
Quote:
Originally Posted by AndyG
Charles has plenty of time open and close accounts, bury and dig up metal and cash, travel to far away lands, pay college tuition, and rent vacation homes.  Remember, he is innocent until proven guilty. 



It is interesting that with Tulving, there was a class action lawsuit, and they froze Mr. Tulving's personal accounts and prevented him from buying/selling precious metals.

With Tulving, it took about 17 months from the time he shut down until the time he plead guilty (with another 6-12 months before sentencing).

As you point out, each case is different. Tulving's case could have easily dragged on for years if he had contested it and not instead signed a plea agreement.

The point about being innocent until proven guilty is important to remember, too. Although nearly everyone here believes he is guilty of fraud, there is still a very good chance others were involved, and a chance (albeit a slim one in my opinion) that he is not guilty of anything in the eyes of the law. Of course it would be very hard to plead ignorance to the financial issues given that he (reluctantly) saw Mr. Martinec nearly 3 years before finally shutting down. Very few CEOs (actually COO at the time, I think) would meet with a bankruptcy attorney without knowing the assets and liabilities of their company.

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bull123

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Posts: 217
Reply with quote  #3 
He's already been proven guilty by folks not getting their stuff

there is nothing that is going to happen that is going to change that

guilt is not the issue

it's the desire for the public officials to make him pay for folks not getting their stuff that is in question

just my two cents =)

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