Friday, December 28, 2012

Bobby G makes out like a Bandit

"When shares of junior miner Liberty Silver Corp. took off over the summer, investors and regulators on both sides of the border were concerned about the activities of penny stock promoter Bobby Genovese. He and other newsletter writers were aggressively pumping the stock, which more than doubled in a matter of weeks before being halted.

On Thursday evening, Mr. Genovese’s Liberty Silver trades were made public in a regulatory filing, which can now be viewed on SEDI. The trades show that Mr. Genovese and his associated companies were aggressively buying the stock throughout late 2011 and 2012, and unloaded a huge quantity in September after it ran up.
The most eye-opening trade occurred on Sept. 20th, when Mr. Genovese’s firm BG Capital Group Ltd. sold 6.6 million shares at a unit price of US$1.31. In the two days prior to that sale, BG took control of 6.6 million shares that appeared to come from Outlook Investments Inc., a separate firm under Mr. Genovese’s control.
This observer REALLY has to wonder how these career turds CONTINUE to be successful career turds in perpetuity. I mean damn.