What course of action should an investor from the UK take now? Is there anyone I should contact in regards to making a claim for compensation or should I just dump my shares for a pittance on CT and have done with it?
There were a few people from the UK that have asked this question. I highly recommend to contact the MSD and ask what your options are that way you can make an informed decision.
Unfortunately I don't see CT being available much longer as every day that Ken allows trading on there he is going against the MSD order.
I thought that it meant that he could not
issue more shares? Not that they could not be traded?
Can you source the 'can't be traded' part of the official statement made by the MSD, please?
This is my understanding and interpretation of how the MSD would see this.
http://freepdfhosting.com/0d53fc3f43.pdfNOW THEREFORE, it is hereby ordered that Respondents, their agents, employees and
servants, and all other persons participating in or about to participate in the above-described
violations with knowledge of this Order are prohibited from violating or materially aiding in any
violation of Section 409.3-301, RSMo. (Cum. Supp. 2012), by offering or selling unregistered,
non-exempt securities; from violating or materially aiding in any violation of Section 409.4-
402(a), RSMo. (Cum. Supp. 2012), by transacting business as an unregistered agent; from
violating or materially aiding in any violation of Section 409.4-402(d), RSMo. (Cum. Supp.
2012), by employing or associating with an unregistered agent; and from violating or materially
aiding in any violation of Section 409.5-501, RSMo. (Cum. Supp. 2012), by, in connection with
the offer or sale of securities, making an untrue statement of a material fact or omitting to state a
material fact necessary in order to make the statement made, in light of the circumstances under
which it is made, not misleading or engaging in an act, practice, or course of business that
operates or would operate as a fraud or deceit upon another person
Since CT is not a decentralized exchange and Ken has control over if the shares can be sold/traded or not I believe in that regard he is not following his order from the MSD.
This is my interpretation and when I mentioned it to Shawn @ the MSD he found it interesting.
It's usually not good practice to operate in "grey areas" when you've received a cease and desist from the US Gov and are currently residing in the US.
Either way trading is still available so if anyone wants to dump their shares on CT they have that ability.