Millionaires proboards CMKX SHAREHOLDERS COALITION VS. THE SEC
CMKX
CMKX SHAREHOLDER COALITION
FOR FURTHER INFORMATION:
cmkxshareholderscoalition@hotmail.com Press Release
FOR IMMEDIATE RELEASE October 22, 2009
THE CMKX SHAREHOLDERS COALITION FOR JUSTICE ANNOUNCES THE COMMENCEMENT OF LEGAL
ACTION AGAINST THE US SECURITIES AND EXCHANGE COMMISSION (SEC) IN BOTH CANADA
AND THE UNITED STATES.
The CMKX Shareholders Coalition for Justice announces the commencement of legal
action against the US Securities and Exchange Commission (SEC) in both Canada
and the United States. The action follows complaints filed with the Federal
Bureau of Investigation in Nevada and the Royal Canadian Mounted Police in
British Columbia, Canada. These complaints and the accompanying evidence allege
that the SEC facilitated the counterfeiting of multi-millions of publicly traded
stock shares by brokerage firms, many of which were implicated in Racketeer
Influenced and Corrupt Organizations Act (RICO) felony crimes including
counterfeiting and money laundering with organized crime.
More specifically, the evidence submitted to the authorities in the case of CMKM
Diamonds (ticker CMKX), believed to be the largest counterfeited stock in United
States history, indicates that the SEC colluded with insiders of CMKX to sell
hundreds of billions (and possibly trillions) of counterfeit shares, and aided
and abetted in the cover-up of brokerage firms who allegedly sold over three
hundred billion counterfeit shares of CMKX. With the addition of RICO penalties
to investor losses the Coalition is seeking restitution of seven hundred and
fifty million dollars ($750,000,000) from the SEC and those they colluded with,
along with a freeze on all CMKX assets including land rights past and present
currently under regulatory control.
The Coalition is encouraging other victims of this crime to join our cause and
form a coalition of companies to pursue a multi-trillion dollar class action in
the near future.
We have introduced evidence from the SEC themselves that prove they manipulated
the market overall, and CMKX in particular, by not allowing short squeezes in
these stocks, thus preventing the victim companies from recovering. The
complaint alleges that the SEC attempted to conceal the crime by creating an
illegal regulation referred to as the “Grandfather Clause” allowing the
perpetrators the right to not deliver these phantom shares as required under the
Securities and Exchange Acts of 1933 and subsequent amendments.
The complaint alleges that the Grandfather Clause was developed in concert with
the perpetrators in a closed door meeting in June 2004, and is also in violation
of the shareholders‟ 5th Amendment Constitutional property rights. This view is
shared by Mr. Rod Young, CEO of EagleTech Communications, who has stated “Every
shareholder of any Company in America who purchased shares and cannot get them
delivered has a cause of action against the SEC as an agency of the U.S. Federal
Government for violation of their 5th Amendment Constitutional property rights.”
EagleTech is just one of thousands of victim companies systematically
manipulated and cellar-boxed by the brokerages under the supervision of the SEC
and were then delisted / put out of business by the SEC when financially unable
to meet their reporting and other business obligations, eliminating any
obligation of the brokerage firms to deliver real shares or value to those they
sold counterfeit stock to. Mr. Young goes on to claim ”The government‟s
successful defense using the discretionary exemption from Tort Claims in most
cases since the 1947 case „Elizabeth Dalehite, et al. v. United States‟ does not
apply here. The SEC does not have discretion to suspend the settlement process
(Grandfathering), even temporarily as they claim.”
The SEC themselves have admitted in a Securities Industry and Financial Markets
Association (SIFMA) meeting the true size and scope of the fraud committed, a
fraud they facilitated and covered-up, and continue to cover up to this day.
Significantly, the above comments relate directly to the Over the Counter (OTC)
market alone.
In a speech delivered by SEC Commissioner Paul S. Atkins, before the 34th Annual
SIFMA Operations Conference, he states:
http://www.sec.gov/news/speech/2007/spch043007psa.htm
“I can't leave the topic of "fails" without touching on one more highly
important issue currently facing the Commission. This goes back to the meaning
of "fail" as a noun. The SEC has recently been involved in a very proactive
(some might even say prudential) exercise with respect to the issue of fails in
the OTC derivatives markets. In response to reports of widespread documentation
problems in those markets, the SEC has joined forces with other regulators, most
notably the Federal Reserve Board and Britain's FSA, to encourage OTC market
participants to clean up years of incomplete and inaccurate trade documentation.
The need to act was clear.
From all reports, the backlog of unconfirmed trades, which essentially are
fails, and the widespread and unchecked use of novations in the credit
derivatives markets had crippled risk management efforts and set the stage for a
massive meltdown in certain default scenarios. Given the multi-trillion dollar
aggregate notional amounts of the contracts involved, it was easy to see that
the OTC derivatives dealers and their counterparties had created an operational
problem similar in scope to the late 1960's back-office crisis on Wall Street.”
To conclude, we have the evidence that shows massive collusion to defraud the
public by the systematic counterfeiting of financial instruments including
stocks. We believe this collusion will be found to be the largest RICO
(racketeering) crime in history, and that CMKM Diamonds, in particular, is the
largest example of this fraud. It is, however, only one company among thousands
that were victims.
We demand that an independent special prosecutor be named to investigate this
crime and the Securities and Exchange Commission in particular, as they were
regulators with the duty to protect the public. They not only did not perform
that duty, we allege they were complicit in the crime which has cost the public
trillions of dollars. We also demand a Pecora style commission to oversee the
clean-up of the market and to restore its integrity. Further updates on legal
action will be forth coming.
