it is or should be illegal when a broker (through CVI) tells us that they have placed shares at 0.8 cents, meaining these clients have paid for them, when clearly they have not.
As I said to the ASIC "person", who would buy shares in a placement at 0.8 and then in a week sell them for 0.7 cent
Clearly these shares have not been paid for up front, so if this broker, Pattersons as Smyth has told us, has been a party to this then
Now ASIC should investigate this, and they will tell you they have, and also CVI, and seeing I put in a complaint in September last year about exactly the same thing on Easy office and Aitco, and what have they done, well seeing that Smyth continues to do the very same thing not much, or they are so weak that Smyth just laughs at them
Now claims should be put in against ASIC and ASX, (complaints have been made to ASX as well), but they are members of the ASX
As I say, he can only do this when there is buy depth to sell into, no depth no dump
and a lot of present depth would be Global/Pattersons or friends.
And don;t let todays trading fool anyone, dumped into .7, a couple of buys at .7 and then even a very small buy at .8 to make it look better, but make no mistake, Patterson's would have sold stock today, and bought back a fraction to make a day's high of .8 just to make it look better
my guess is if there is no buy vol, that is when they have to make a decision on if to pump or fold, too greedy for the latter
CVI Price at posting:
0.7¢ Sentiment: None Disclosure: Held
