Nova Law

Crystallex Affair Requires SEC Investigation

Speaking of SEC investigations - BillCara.com was involved today in circulatiing a bogus story attributed to Dow Jones wherein the five-years' delayed KRY mining permit was supposedly "approved." Immediately the stock rose from 2.80 to 3.10 before falling back.

Details were here as of 4:30pm EST, not sure if they will disappear through editing of his website, so I have taken a screenshot to preserve the possible evidence.

www.billcara.com/archi...

Circulating false and bogus stories is illegal in every jurisdiction in North America. The perpetrator(s) ought to receive scrutiny from the SEC, RCMP, FBI, or other law enforcement agency. This looks very, very bad for Mr. Cara's already-tattered credibility.

Crystallex Affair Requires SEC Investigation

As I have observed here on Seeking Alpha, Bill Cara specializes in conspiracy theories, blaming everybody else except himself for his poor investing choices.

George Bush is a regular cause of his woes. Also Goldman Sachs. And recently, the reporters at Dow Jones and Bloomberg have been accused of being crooked by Cara.

The best place for him to look for the cause of his investing woes is in the mirror. KRY is a company with no earnings, revenues which have fallen by 50% over the last couple years, very little cash left, and the only asset is the dwindling hope that the self-proclaimed socialist dictator Hugo Chavez allows them to do some mining in Venezuela. In short, it is a disaster masquerading as a publicly-traded company.

Cara should be ashamed of himself for causing innocent people to lose money by pumping up KRY. Perhaps someone will be angry enough to file a civil action against him. Given his consistent lack of disclosure and dubious reliability, such a case would be an interesting landmark.