Regulators Come After Jon R. Carnes (Aka Alfred Little) For Fraud Against Silvercorp Metals Inc. 2 comments
Dec 22, 2013 5:01 AM | about stocks: SVM
Update to Instablog by author. This article was submitted as an "article" but seeking alpha rejected it so i posted as an instablog with their reasoning. Investors in SVM would probably argue that this is extremely relevant to their investment thesis given the authorities have said that Jon Carnes fabricated data to support this short articles, these same articles that seeking alpha approved to be posted on their site. This information from the docket is not easily found and needs broader dissemination for market integrity. They believed otherwise and stated the following:
"Thanks for your submission but we're going to pass, as most of the piece is an excerpt from the case, rather than an investment thesis containing original opinion and unique insight. Keep in mind that we look to publish articles which provide actionable advice for investors based on in-depth fundamental analysis. This type of article might be interesting to readers, but does not work for publication. As such, we welcome you to post it as an Instablog and try again with future submissions meeting our publication criteria.
Ask yourself -- Is Seeking Alpha attempting to cover up their allegiance to short sellers? As this article is providing hard to find information about very relevant information to SVM.
=Is Seeking Alpha attempting to cover up their allegiance to short sellers?
They made it clear why it didn't fit their publication criteria.
= this article is providing hard to find information
It is public knowledge anybody can look up and not original material.
I think it is hilarious the delusional have focused all their energy on individuals that obviously had an agenda somehow thinking that changes facts that were uncovered concerning their investments. It sounds like Carnes may have overstepped limits while collecting information. Maybe not. He will have a chance to defend his actions just as the companies he helped expose have every right to defend themselves against allegations.
I'm looking for a fine and some disgorgement of trading profits and he will move on in a more ethical manner. I think this means he will increase campaigns against frauds and not decrease them. I would like to see the major transgressions highlighted and not all the picky and petty ones piled on. I think that would make the reports more compelling. The delusional always seem to point to the insignificant allegations while ignoring the major ones. Take joebigbuck.... He can only talk about some chick with a business card while ignoring the fact that bonds were issued without proper disclosure. Make the reports one or two major issues that are air-tight and forget the ticky-tac stuff and they will have more impact. JMO.