April 2, 2008
The SECs "Naked" Short Selling Anti-Fraud Rule is simply NOT enough.
What does the SEC plan to do to repair the damages that have already occurred due to Naked Short Selling?
Implementing rules to stop this from happening is important but the anti-fraud rule does not cover, what the SEC intends to do to make sure investors get PAID for the damages that have occurred as a result of the SEC allowing Naked Short Selling that damaged investors and destroyed companies.
How will the common investor that has been an unsuspecting victim of Naked Sort Selling be compensated for the damages they have sustained as a result of this thievery?
We have fought for justice for years to get the SEC to take action and acknowledge that the problem even exists. Denial by the SEC for many years of this problem has caused even more damage as a great deal of money, time, energy and determination has gone into getting the SEC to recognize the problem and do its job to protect companies and investors.
We have heard few words and seen NO action to bring justice to us It's good that the SEC is making a small effort (better than nothing, but not good enough) to prevent this from continuing, however what I want to know is what is the SEC going to do to settle the problems caused by Naked Short Selling to investors that were in their care when this happened?
Naked Short Selling is a grave injustice and it is a shame that American investors have not been protected by the SEC. The playing field was and is far from level and fair.
Naked Short Selling is NO mystery to the harmed investors that have paid good money in good faith for stock that was sold to them, stock that was never intended to be delivered by the brokers as it never existed when it was sold to the investor. The purpose was to, and still is to steal money from the investor and run the company out of business.
It really is elementary to understand that this is down right theft.
CMKM Diamonds has been waiting for this mess to be cleaned up for years.............YEARS Our lives are on hold until this is taken care of.
Sweeping us under the carpet is not cleaning it up, that is only an attempt in hiding it. Hiding it from other unsuspecting investors so the damage and the thievery has continued and snowballed out of control.
The SEC is responsible for this occurring, because they did not make it public and treat it as a real issue years ago.
A lot of harm has been done to CMKM Diamonds Shareholders and we deserve compensation for damages incurred and we will not back down until that occurs.
We hold CERIFICATES for our shares, we were charged more money to obtain them and most of us had to fight with brokerages to get what we lawfully own, bought and paid for
We have been kicked to the curb, brow beaten, mislead, brushed off and unfairly judged for years only for investing in a company that was targeted to be Naked Short Sold to line the pockets of Market Makers and Brokers who have no doubt lived lavishly on our stolen loot.
When will this stop?
When will JUSTICE be served?
A simple fine or suspension is not sufficient in stopping thieves from stealing, they are CRIMINALS and should be jailed and held responsible to pay restitution + damages to the injured shareholders.
Furthermore the SEC needs to STOP Naked Short Selling altogether with a NO TOLERANCE policy. If they get caught Naked Short Selling they are OUT for good They must NEVER be allowed to be involved with trades ever again in anyway with respect to other peoples money and fair trade in the stock market. They should pay restitution and there should be a madatory amount of time served when caught Naked Short Selling.
All CMKM Shareholders that I have spoken to are told the same thing when they call and talk to representatives at the SEC........."It's being investigated" and that CMKM Diamonds are NOT on any list to be compensated for any damages" That is also the email response we get when we have any questions about what is taking place with respect to CMKM Diamonds.
Are we to take that as the THIEVES have gotten away with it and the SEC has not only allowed this to happen but has facilitated it as well?
Surely the investigation is complete, NOW what is the stall?
Stop investigating and get to work on paying us the FRAUD damages owed to us from Naked Short Selling.
As this whole Naked Short Selling scheme has progressed thus far and the very limited remedies offered by the SEC as a way to move around it, rather than truly deal with it and resolve it, the shareholders of many companies that have been victimized have to wonder if the issue will ever be dealt with appropriately and if the stock market will ever be fit for trade free from corruption. Most of us will not trade again until this mess is cleaned up and justice is served.
The SEC has asked for comments to see how investors feel about the "Naked" Short Selling Anti-Fraud Rule.
I feel more needs to be done, that the SEC MUST get the CMKM Diamonds shareholders compensated for damages as well as all of the other companies that have been victimized, the guilty parties of Naked Short Selling MUST be brought to justice and this criminal behavior MUST be stopped once and for all.
DO YOUR JOB...........PLEASE.