Something to do with PIPE transactions, whatever they are.
'The SEC alleges that Corey Ribotsky and his firm The NIR Group LLC repeatedly lied to investors to hide the truth that his PIPE investment and trading strategy was failing during the financial crisis. For example, Ribotsky falsely told investors that despite the adverse market conditions he could liquidate all of the PIPE investments in 36 to 48 months - a practical impossibility given the size of the investments. Meanwhile, Ribotsky misused investor money by writing checks to pay for personal services and such luxury items as a Lexus, Mercedes, and Rolex watch.' More, than is healthy.
Rolex watch? Well, that's where I lose all sympathy for the man. If you're going to spend your hard-earned money on something as vulgar as a Rolex watch, you deserve to be disgorged.
I don't even know what disgorgement is. It sounds nasty though. It sounds positively medieval. I can't even recall Jack Pickles in his prime disgorging anyone. Those SEC characters are serious people!
'The SEC alleges that Corey Ribotsky and his firm The NIR Group LLC repeatedly lied to investors to hide the truth that his PIPE investment and trading strategy was failing during the financial crisis. For example, Ribotsky falsely told investors that despite the adverse market conditions he could liquidate all of the PIPE investments in 36 to 48 months - a practical impossibility given the size of the investments. Meanwhile, Ribotsky misused investor money by writing checks to pay for personal services and such luxury items as a Lexus, Mercedes, and Rolex watch.' More, than is healthy.
Rolex watch? Well, that's where I lose all sympathy for the man. If you're going to spend your hard-earned money on something as vulgar as a Rolex watch, you deserve to be disgorged.
I don't even know what disgorgement is. It sounds nasty though. It sounds positively medieval. I can't even recall Jack Pickles in his prime disgorging anyone. Those SEC characters are serious people!
