1) What makes Wes Christian the best choice to take on this monumental task of investigating market manipulation ?
1A) Wes Christian (and his team) has been a) litigating and investigating in the stock manipulation space since 2000 b) done due diligence on over 60 public companies c) has filed 20 suits in state and federal courts across the country, most of which have resulted in settlements for the benefit of the companies that were manipulated and its shareholders d) has also assembled other top law firms and top experts to prove liability of wall street and other participants in the manipulation events; and prove the damages such manipulation caused e) assisted the justice department, FBI and SEC in prosecuting several individuals and companies that were manipulating the stock of certain public companies, including Operation Bermuda Short, Thomas and Andreas Badian, Refco and many enforcement actions.
The list of the cases Mr. Christian and his team have handled and resumes of the existing team are posted under the Stock Fraud team background information.
https://nakedtruth.info/partners/cvs-on-team/
2) What makes Wes Christian and his team think there currently is market manipulation taking place? How long has it been going on? And why choose now to take a bigger stand?
2A) We know manipulation is still occurring at a systemic level as we a) monitor the aggregate fail data b) have had a material increase in companies needing our help c) there have been more enforcement actions by FINRA and the SEC in recent years that impose large fines, vs. the past. We know this has been going on for at least 21 years. The fail to deliver data proves this.
We believe NOW is one of the best times to cause more meaningful changes due to a) more awareness of the ways manipulation occurs b) Congress getting involved c) the existence of the Ape, Wall Street Bets, Redditt communities and the awareness these groups bring globally d) other countries experiencing the same issues, thereby showing it is systemic d) a new SEC chairman that says he wants to do something (I hope) e) the general public is finally tired of this and there is a new movement that has increased momentum.
3) Why isn’t the SEC investigating this market manipulation more? Where have they failed, and how can you help them hold hedge funds accountable for market manipulation?
3A) I believe the SEC is not investigating more manipulation due to a) they have a limited staff, which means they cannot compete against the big wall street lawyers. In addition the relationship between wall street and the SEC from my perspective is to cozy c) Congress gives the SEC a limited budget and d) they only can do civil enforcement, not criminal prosecution.
They can do more by more actions and most importantly by increasing the fines considerably and referring the worse cases to the DOJ for criminal prosecution.
Finally we can help them by filing more cases (I now have 4 large firms that are helping me in these cases so we can do more);and providing them more evidence that proves this is huge and must be taken very seriously.
4) What tools and resources at your disposal, that you can disclose, will you use to investigate this manipulation?
4A) The tools we have at our disposal (that have been used successfully in the cases we have prosecuted) is a) the experts we have b) our ability to discover (with some help from the issuer) the number of counterfeit shares that have been issued and stock that does not exists that have been lent c) our knowledge of the illegal acts they use to manipulate (including events outside the US) d) the investigators who can track this down and finally e) the damage experts who can calculate what the damages are.
5) How do Hedge Funds manipulate the market?
5A) There are so many ways the market is manipulated that it is endless. I will be sending you a large amount of enforcement actions that detail the various ways it is done.
The simple version is that counterfeit stock is issued in various ways electronically to sell or loan and false information is put in the public domain that makes it appear that the company is bad and going broke. At the end of the day, this is about injecting counterfeit stock into the market so supply exceeds demand. When that happens the price always falls. Then throw on top of that marking tickets long when it is a short sale, bad press and smack from the media (usually paid for by the bad guys) combined with spoofing and not delivering etc. all of which contributes to cause the stock to further decline.
6) What is naked shorting and dark pool shorting? Is this legal and fair? Do everyday retail investors have this available to them?
6A) Naked shorting is illegal whether in a dark pools or not.
Simply put naked shorting is selling stock short you do not have and you deliver nothing; or much later than legally required. This allows you to sell at a high price and deliver (if at all) at a lower price and make a profit.
Normal retail investors cannot do this. Large hedge funds can as they have a big investment book and the firms themselves can do it off of their proprietary trading desk. In effect they are trading for themselves and clear the transaction and let it fail by not delivering.
7) How do Hedge Funds use algorithms to trade and drive price down?
7A) Hedge Funds use algorithms by designing software to take information the public does not know and trade ahead of the general public.
8) If Hedge Funds short a stock and drive the price to zero, what do they gain to benefit from that? Is that legal? Ethical? Moral? if can speak to this.
8A) Hedge Funds can drive a stock to 0.The benefit is they sell a million shares at 10 dollars and never deliver as the company files for bankruptcy or goes out of business.
9) How long is this investigation going to take? Ball Park, best / worst case scenario? And how can everyday Retail Investors get involved and help support the cause?
9A) The investigation can take approximately 6 months. Retail investors can get involved by sending info they have on a specific company or a manipulative event, financially supporting the cause by contributing to a new non profit corporation setwww.nakedtruth.info. This entity will be the place articles, information, reports, enforcement actions and all other related information can be stored including the results of our investigation.
10) What is Naked Truth, inc? Has it’s Executive Board been vetted? How does the public know this is legit and not a scam?
This resulted in the formation of Naked Truth, Inc. a nonprofit corporation which was set up by a top notch law firm. The Board consists of a diverse group of fully vetted retail investors across the country to better represent the community.
11) What expectation do you have by representing Naked Truth Inc. as it investigates market manipulation?
11A) My expectation is for Naked Truth Inc to be the catalyst that causes a new uprising by the investing public to cause wall street and hedge funds to think twice before they do these illegal activities, fully inform everyone around the world and act as a foundation to enforce change.
12) Is this an investigation or a lawsuit? What is the difference between the two?
12A) The investigation has multiple purposes a) to gain information that can be stored at a central location (like website of Naked Truth) b) to fully inform the retail investors and the public at large and act as a foundation to enforce change.
An investigation is NOT a lawsuit. It is simply an information gathering vehicle.
A lawsuit requires much more due diligence and detail sufficient to file a legal claim.
13) Would an investigation into a stock halt trading ever for said stock?
13A) Neither an investigation or a law suit should halt stock trading.
In the 20 cases we have done I do not recall that happening.
https://nakedtruth.info/supporting-documents/cases-prosecuted-by/james-w-christian/
14) Would a lawsuit into a stock cause said stock to be halted trading?
14A) Neither an investigation or a law suit should halt stock trading.
In the 20 cases we have done I do not recall that happening.
https://nakedtruth.info/supporting-documents/cases-prosecuted-by/james-w-christian/
15) Have you worked with any members of congress to push for more regulation in the so called fair market or do you plan to, to help implement new bills to help end the manipulation?
15A) We have worked with congress for a long time. That includes our experts also. We also hired lobbyists to help get Reg SHO passed.
Other than reg SHO we have not been successful.
The Senate Banking committee was/is the key.
16) When hedge funds get fined for wrong doing or manipulation does it really make difference? For instance if Hedge Funds manipulate and make 2 billion dollars off retail investors, and wrong doing is found and they are fined 300 million, is that really a deterrent? They still made 1.7 bill profit.
How can this be fixed to make them truly afraid of breaking the law and stop participating in manipulation?
16A) The fines that the bad guys pay is a traffic fine. This is not a deterrent. Please note that the main people who are fined are the big banks NOT hedge funds.
17) Will you be investigating Robin Hoods role with Citadel in relation to them denying 13 million users the right to purchase certain stocks months ago, which created an unfair market and advantage to hedge funds that wanted to drive the price of said stocks down.
17A) There are several entities we will be investigating in due time.
18) If all retail investors were to say donate $5 the equivalent of a cup of coffee, to the non profit Naked Truth, inc via their website www.nakedtruth.info how big of an impact would that have on this investigation into market manipulation and helping bring about sweeping change and reform to current financial system?
18A) If all retail investors would donate $5 it could have a huge impact on our ability to take the investigation to the next level.
19) Wes, why is now the time for action to change market manipulation, and how many retail investors do you believe this effects?
19A) We know manipulation is still occurring at a systemic level as we a) monitor the aggregate fail data b) have had a material increase in companies needing our help c) there have been more enforcement actions by FINRA and the SEC in recent years that impose large fines, vs. the past. We know this has been going on for at least 21 years. The fail to deliver data proves this.
We believe NOW is one of the best times to cause more meaningful changes due to a) more awareness of the ways manipulation occurs b) Congress getting involved c) the existence of the Ape, Wall Street Bets, Redditt communities and the awareness these groups bring globally d) other countries experiencing the same issues, thereby showing it is systemic d) a new SEC chairman that says he wants to do something (I hope) e) the general public is finally tired of this and there is a new movement that has increased momentum.
20) How will the hedge funds respond to this investigation into manipulation you are launching on behalf of Naked Truth, inc? Should they be scarred or worried?
20A) I believe the prime brokers and the hedge funds will not do anything in response until we get their trading records etc. This is a cost of doing business. Remember it is the prime Brokers doing most of this.
21) Can you tell us what share intell is? What it does? How could this help end manipulation?
21A) Share Intel is a corporation that has proprietary software that we have used for 15 years that helps us find the counterfeit shares.
22) Can you speak to orders being placed over seas in Europe and Brazil which have less SEC jurisdiction, in order to manipulate the US Stock Market/ US financial system? How is this allowed and who most benefits from this?
22A) The offshore piece is large. We believe there is a whole level of fails in London, Canada etc.
The SEC has started a unit to investigate this but they move like turtles.
Bad news is for wall street ,we know how to get this info.
23) Will you be investigating over seas manipulation?
23A) Yes, we will be investigating world wide.