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IndyMac Bank (IMB) to file for Chapter 11 on 7/1/08
- Thread starter The Kin
- Start date
At these prices I have to wonder if it's worth a gamble long... even if it's 90% chance the shares become worth nothing, if the company eventually turns around the $.67 investment could turn out to be great... of course it'll probably go to $.20 and get delisted first.
It is a felony for a person in any manner within the jurisdiction of the United States or an agency of the United States to knowingly and willfully: (1) conceal or cover up by scheme or device a material fact; (2) make a false, fictitious, or fraudulent statement or representation; or (3) make or use a false document knowing it to contain a false, fictitious, or fraudulent entry. 18 U.S.C. § 1001. The false statements statute is designed to protect the authorized functions of governmental agencies from the "perversion" that might result from certain deceptive acts. United States v. Gilliland, 312 U.S. 86, 93 (1941). The statute applies also to false statements and representations to Government agents, and is typically applied to false statements or documents given to Service agents during an examination.
See ya in prison.
See ya in prison.
Quote from Thermactor:
It is a felony for a person in any manner within the jurisdiction of the United States or an agency of the United States to knowingly and willfully: (1) conceal or cover up by scheme or device a material fact; (2) make a false, fictitious, or fraudulent statement or representation; or (3) make or use a false document knowing it to contain a false, fictitious, or fraudulent entry. 18 U.S.C. § 1001. The false statements statute is designed to protect the authorized functions of governmental agencies from the "perversion" that might result from certain deceptive acts. United States v. Gilliland, 312 U.S. 86, 93 (1941). The statute applies also to false statements and representations to Government agents, and is typically applied to false statements or documents given to Service agents during an examination.
See ya in prison.
SEC doesn't give a crap. Shorts have been spreading rumors about SIGM for weeks.
Quote from The Kin:
http://www.latimes.com/business/la-fi-indymac1-2008jul01,0,2858219.story
IndyMac denies that it's close to collapse
Depositors have been pulling money from the Pasadena-based thrift, whose share price is down 90% this year.
By E. Scott Reckard and Andrea Chang, Los Angeles Times Staff Writers
July 1, 2008
Battling rumors that it may collapse, Pasadena-based IndyMac Bancorp acknowledged Monday that its financial position had deteriorated but described the fears as overblown and said it was working with regulators to improve its "safety and soundness."
Fraud