How and why is easy. They shorted the stock naked and that’s why they can’t settle, because they don’t own it.
As to transparency, we’re not going to get any. The broker sold the stock naked, which is illegal and the last thing they’re going to do is assist anyone by being transparent. I was offered to reverse the trade and said no. Why would anyone reverse the trade when the ADR’s ceased trading at the equivalent of 6.5c?
How and why is easy. They shorted the stock naked and that’s why...
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