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Silvercorp Metals Inc. Message Board

  • trader_v03 trader_v03 Mar 20, 2014 12:56 AM Flag

    Securities regulator alleges fraud against Silvercorp short-seller

    As a reminder, British Columbia's Securities Commission is going after Jon fraud Carnes.

    Go to their website and search for the title of this message.

    Enough said.

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    • =Enough said.

      No, it isn't enough said. You exemplify the stupidity found on these boards. Your logic is... IF Carnes is bad, THEN Silvercorp must be good. Really? Isn't there a possibility that Carnes is a fraud, axe-murderer and kicks puppy-dogs AND Silvercorp is a fraud?

      I am always amazed at the people that will ignore documented proof of transgressions by companies and say they should be given the benefit of the doubt and question the MOTIVES of who reported the facts. These same people will automatically convict any short seller upon the first allegation without knowing any of the facts. Hypocrite much?

      Hate Carnes all you want, but if you think you are going to make money in SVM just because you don't like him then you are cutting off your nose to spite your face. If he went overboard in his investigative methods, he will rightfully be taken down a notch, but he has the right to present his side of things before he is prejudged just as the companies he reports on have the right to present their side.

      You simply don't have what it takes to be an individual investor. Your world is full of "motives" instead of facts. If you can't dispassionately trade based on documented facts then you need to turn your money over to a professional while you still have some left.

      • 2 Replies to lbcb321
      • ahem not simply but I have already PROVEN JON CARNES IS A FRAUD 2 years ago.
        using simple logic and calculations

        what happens in the silver space can stay in the silver space but that guy needs to be put down by the authorities.

        recently people have alleged already the FBI and the SEC are getting proof of fraud by their group.
        certain banksters just need to be put down.

        he is not too big to fail yet so too bad for him

      • Well said, lbcb.

        Anyhow, the BCSC isn't a court, and questionable what their authority is in this situation. Fines? Maybe. Certainly they can't convict or incarcerate anyone. Perhaps they could refer the matter to a government prosecutor for a legal action if there are grounds, but they have not done so so far.

        So, yeah, they may reprimand someone for making false statements about their identity and background while presenting damning opinions about a public company... and maybe would fine them and warn them about making future representations, but it's not necessarily a judgement on the accuracy of the opinions.

        Anyhow the "hearing" isn't scheduled until November... apparently it's not a pressing issue for BCSC... so Silvercorp might be viewed very differently nine months from now, and the result might be no more than a slap on the wrist for using a false name.

        Ironically, BCSC is the same regulatory body that appears so lax on enforcement that it has done nothing when all but one of Silvercorp's Officers and Directors have blatantly failed to file public reports for the hundreds of thousands of options they were granted in January this year.

        If anyone doubts that Silvercorp doled out lavish option grants to insiders in 2014, or that the people entrusted to run the company failed to file with SEDI as required -- simply contact SVM's investor relations and ask about it... see what they say.