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The SEC Learned Nothing from Madoff -- Check Out CMKM Diamonds, Inc., for Proof

By       Message Robert Lightworker     Permalink
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As the recent article "SEC Builds New Tips Machine to Catch the Next Madoff" suggests, the Securities and Exchange Commission (SEC), a longtime poster child for the rampant political cronyism and crony capitalism in the US, appears to have corrected the mistakes it made in the Madoff debacle and is currently implementing an efficient new system to handle the tips and complaints it receives concerning potential frauds. 

But unfortunately for the rest of the investors the SEC is mandated to protect, the SEC only appears interested in correcting its past mistakes and implementing changes after it has been exposed as being indisputably grossly negligent and seemingly criminally complicit, and therefore is subsequently forced to change, as was the case in the Madoff debacle.

Otherwise, the SEC only seems interested in engaging in political cronyism and crony capitalism and in covering up for its indisputable gross negligence and seeming criminal complicity (hereinafter collectively referred to as "business as usual").

And unfortunately for the shareholders of CMKM Diamonds Inc. (CMKM), it was business as usual for the SEC and SEC Enforcement Division Attorneys, John M. McCoy, Molly M. White, and Leslie Hakala (hereinafter collectively referred to as "SEC Attorneys") as evidenced by the failure of the SEC and SEC Attorneys to investigate questionable allegations and to disregard the findings of their own investigations and a red flag, all of which caused the alleged pump and dump fraud of the previous CMKM management to continue and perpetuate.  

Furthermore, unfortunately for the shareholders of CMKM, it has been business as usual for the SEC and the SEC Attorneys as evidenced by the failure of the SEC and SEC Attorneys to provide complete and accurate evidence to the governmental enforcement agencies that are prosecuting the members of the previous CMKM management for the fraud.

Business as usual for the SEC and the SEC Attorneys causes them to breach their mandated duties, which are to oversee the securities markets, enforce the federal securities laws, and protect investors. Furthermore, business as usual for the SEC and the SEC Attorneys causes the Superseding Indictments against the alleged fraudsters -- Superseding Indictment and Second Superseding Indictment 2-09-CR-00132-RLH-RJJ United States of America vs. John M. Edwards et al, 3-24-10, United States District Court, District of Nevada -- to be rife with contradictions, inconsistencies, and discrepancies, all of which ultimately render them incomplete, inaccurate, and inadequate.

On 8-18-11, CMKM Information, the author of this article, creates a Petition Letter on change.org in which he exposes the business as usual   of the SEC and the SEC Attorneys.    

Moreover, CMKM Information demands in the Petition Letter that the SEC and the SEC Attorneys provide the Federal Bureau of Investigation, Las Vegas Office, the United States Department of Justice, District of Nevada, and the Grand Jury in the said Superseding Indictments with the following names and entities to subpoena and source documents to examine to give those governmental enforcement entities the opportunity to rectify the contradictions and discrepancies that exist in the Superseding Indictments:

1. The 1-24-06 SEC Deposition of former CMKM Attorney Donald Stoecklein in which he testifies under oath that CMKM was illegally naked shorted, pages 119-124;

2. The 1-06-06 SEC Deposition of current CMKM Attorney Bill Frizzell in which he testifies under oath that CMKM was illegally naked shorted, pages 123, 149-151, 155, 164, and 167;

3. Jim DeCosta, the naked short expert from Oregon with 25 years experience, for his expert evaluation of the naked short position that exists in CMKM's stock, pages 122-123, 138-139;

4. Broadridge, a spin-off of Automatic Data Processing in 2007, for CMKM's NOBO list, pages 120 and 202.

5. The source documents that show the approximately 362 billion purportedly registered/unrestricted CMKM shares that the SEC and the SEC Attorneys fail to account for in Civil Action No. 08-CV-0437 Securities and Exchange Commission vs. CMKM Diamonds, Inc. et al, Complaint, 4-7-08, United States District Court, District of Nevada;

6. The source documents that show the twenty-fold increase in the average trading volume in CMKM stock from 8-03 to 4-05;

7. The findings of the investigation of the SEC and the SEC Attorneys regarding the involvement of Silver State Bank in the pump and dump fraud of the previous CMKM management:

8. The Regional Triaxial Aeromagnetic Survey Assessment Work Report (Drilling Report) on the Fort a la Corne Diamond Project in Saskatchewan, Canada, that substantiates CMKM's valuable mineral claims in Saskatchewan, Canada;

9. N. Ralph Newson, M.Sc., P. Eng., P.Geo., for his expert evaluation in the Drilling Report of CMKM's valuable mineral claims in Saskatchewan, Canada.

10. William Jarvis, for his work in preparing the Drilling Report.

11. The 07-19-06 SEC Deposition , pages 10, 154-155, and 187-191, and the 10-23-07 SEC Deposition, pages 6, 17-19, 40, 82-85, 86, 88, 100, 174-176,   of former CMKM Attorney D. Roger Glenn in both of which the SEC Attorneys catch him lying repeatedly under oath.

On 8-30-11, SEC Attorney Rinell Randolph (Randolph ) emailed the following generic letter to just one signer of the Petition Letter:

To Whom It May Concern:

Thank you for contacting the U.S. Securities and Exchange Commission. We appreciate your informing us of your concerns regarding CMKM Diamonds. Please note that on January 8, 2010, an action was filed by certain shareholders in CMKM Diamonds against current and former members of the U.S. Securities and Exchange Commission in United States Court Central District of California (8:CV-10-31). As a result of this litigation, the SEC staff cannot comment on statements made by individual investors about the SEC's actions with respect to CMKM Diamonds other than to direct them to our web page click here. This web page provides information concerning the administrative proceeding and the civil injunctive action brought by the Commission. Investors interested in monitoring the case filed in the Central District of California, including any response filed by the SEC, may visit PACER, an electronic document retrieval system for federal court filings, at http://www.pacer.gov/.

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Sincerely,

Rinell Randolph

Attorney

Office of Investor Education and Advocacy

U.S. Securities and Exchange Commission

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(800) 732-0330

http://www.sec.gov

The Petition Letter pertains to the business as usual of the SEC and the SEC Attorneys in reference to Civil Action No. 08-CV-0437, Securities and Exchange Commission vs. CMKM Diamonds, Inc. et al, Complaint, 4-7-08, United States District Court, District of Nevada, and Superseding Indictment and Second Superseding Indictment 2-09-CR-00132-RLH-RJJ United States of America vs. John M. Edwards et al, 3-24-10, United States District Court, District of Nevada, all of which pertain to the pump and dump fraud of the previous CMKM management.

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