The fact that they know it is illegal in those country's and still accept them, makes it conspiracy and aiding and abetting securities fraud.
Conspiracy charges are charges that a person has entered into an agreement with another person to commit a crime or an illegal act. A successful conviction for a conspiracy charge requires that an act was taken to begin carrying out the agreemetn. Before a defendant makes any final decisions about how to proceed with a conspiracy allegation, they should understand the nature of the charges, any possible defenses, and the penalties associated with the charge.
Aiding and Abetting Under the Federal Securities Laws
To establish a claim for aiding and abetting, the SEC must plead and prove: (1) the existence of a securities law violation by the primary party; (2) the aider and abettor’s knowledge of the primary violation; and (3) “substantial assistance” by the aider and abettor in the achievement of the primary violation.
Panama is very extradition friendly with the USA as well. This also puts all U.S. security operators on Havelock at risk. I would like to know how they can explain this one.
http://books.google.com/books?id=hzM3AAAAIAAJ&pg=PA2851#v=onepage&q&f=falseThey pretty much sealed their illegal actions with those statements and then allowing U.S. company's to list or allowing U.S. residents to list.
FYI, if your a U.S. citizen just because you have a offshore company does not give you impunity from U.S laws. Ex Buying a Shelf corp to skirt U.S. security laws.
