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08-05-2020, 08:17 PM #1Senior Member
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See that’s already strong wording.. the SEC is completely full of ****?
Originally Posted by ryan $
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08-05-2020, 09:45 PM #2Senior Member
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They want this industry gone....when they get you on multiple things its a huge sign.
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08-05-2020, 11:38 PM #3Senior Member
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https://www.google.com/amp/s/www.inq...outputType=amp
So there was only $6.9 million left? I thought $18 million was left? Who took the remaining $12 million?
Can someone make sense of all these reports.
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08-05-2020, 11:54 PM #4Senior Member
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They froze 35 accounts.
Wait 35 accounts?
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08-06-2020, 07:09 AM #5Veteran
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They don't want this industry gone...they want it regulated. They will get it too, because certain players out there walked right into their hands. Everyone wants to play "big Shot Belfort" out there...well, guess what? Belfort went to prison! Originally Posted by golf2014
To touch on Ryan's comments, yes, the SEC sees their angle into this industry as categorizing syndication as securities. They kind of are, they kind of aren't. It's really gray, and will a battle for the lawyers. However, once you bring in over 25-50 unsophisticated investors as syndicators, they got you. You are now and investment fund and voila, under the regulation of the SEC (which would also include the licensing of all reps , BTW..a two-fer for them). They can also go after folks for the advertising used to sell these syndicating entities as well. No more pumping up your numbers, BSing about your position in the company, and (thankfully) no more BS "take this $5000 now and we will get you $30,000 in 30 days" nonsense
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