SEC Investigates Commodities Online…
I am going to keep this short and just post the facts as I know them today…Tuesday March 29/2011.
I happened to find out out about the Securities & Exchange Commission investigation into COL from readers of this blog over the weekend. Questions emailed to me caused concern, as I had not been notified by COL management of these developments and as you would well understand…I felt rather foolish as to not being able to address questions or concerns.
Yesterday, I was in contact with management and they were not able to enlighten me any further on the investigation or how long it would take to complete.
Below is an excerpt of an email that was sent out to investors by COL on Friday March 25th, which I did not personally receive…
“IMPORTANT MESSAGE FROM COMMODITIES ONLINE The Company and various individuals have recently received subpoenas from the Securities and Exchange Commission (“SEC”) that were issued pursuant to a formal order of investigation that is being conducted from the Miami Regional office of the SEC. The company is currently cooperating in this investigation by producing documents in response to the subpoena and will continue to cooperate in producing additional documents as requested. The subpoena indicates that the investigation is a non-public fact finding inquiry and that the SEC is trying to determine whether there have been violations of federal securities laws. The investigation and the subpoena does not mean that Commodities On Line has broken any law. While this investigation is ongoing no additional subscriptions will be accepted and no further funds will be accepted. Moreover, until further notice, no more cash out requests will be processed.”
Please direct all your questions or concerns to the customer service number at 877-844-6190 or e-mail to firstname.lastname@example.org
Is this going to be a bad ending to COL or will the SEC investigaton report finally clear all the negativity surrounding Commodities Online?
I do believe that the SEC stepping in at this time will result in a clean and sobering report that should shut up the detractors and naysayers once and for all…time will tell.
I will be posting updates as info becomes available. Hang in there fellow subscribers, I think we will get a glowing green light to move forward in due course…I pray.