SEC Press Release - Nov. 1st, 2020
BotB Academy Bulletins
 
 
129811
SEC Charges Vavco for 140,000 boon Ponzi Scheme

FOR IMMEDIATE RELEASE

2020-293
Washington, D.C., Nov. 1, 2020 — The Securities and Exchange Commission today charged Vav and his investment firm, Vavco, with securities fraud for a 140,000 Ponzi scheme that he perpetrated on advisory clients of his firm. The SEC is seeking emergency relief for investors, including an asset freeze and the appointment of a receiver for the firm.

The SEC was tipped off to Vavco's insolvency on October 27th by an anonymous informant. A sting operation was organized by a joint FBI and SEC task force, which raided both Vavco headquarters and Vav's private residence this morning. In the aftermath, records recovered from the headquarters implicate Vav in a premeditated Ponzi scheme. The purpose of the raid on Vav's residence was two-fold: detain Vav under arrest pending criminal trial and freeze what physical assets could be found in an effort to facilitate emergency relief for Vavco's investors. The raid failed on both accounts. Vav is at large and his whereabouts are currently unknown. A wizardhunt is underway, but no leads have yet emerged. According to regulatory filings, Vavco had more than 140,000 boons under management mere days earlier. It appears that virtually all assets of the advisory business are missing.

The complaint charges the defendants with violations of the anti-fraud provisions of the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940. In addition to emergency and interim relief, the SEC seeks a final judgment permanently enjoining the defendants from future violations of the antifraud provisions of the federal securities laws and ordering them to pay financial penalties and disgorgement of ill-gotten gains with prejudgment interest.

Although the SEC's investigation is ongoing, there was one preliminary finding of interest in the initial advertisement for the firm's services. We have decided to make this finding public to serve as a warning to all: Read the small print!

Initial advertisement

Enhance!
 
 
129812
Level 25 XHBist
mirageofher
 
 
 
post #129812 :: 2020.11.01 6:23pm
  
  Yung Gotenks and kleeder liēkd this
ok but what does all this mean, I cannot read long text
 
 
129813
Level 8 Chipist
proj_antihuman
 
 
post #129813 :: 2020.11.01 6:49pm
  
  sean, kleeder and mirageofher liēkd this
Ah, yes.
It appears as if I...
...don't get it...
 
 
129817
Level 24 Chipist
bluenocturne
 
 
 
post #129817 :: 2020.11.01 8:25pm
  
  sean, hanna and kleeder liēkd this
Kleeder and Strobe are going to go to Vav's house with baseball bats. Boons don't just grow on trees!
 
 
129818
Level 22 Mixist
Jessica Robo
 
 
 
 
post #129818 :: 2020.11.01 8:32pm
  
  mirageofher liēkd this
Oh wow, that is SO small~
 
 
129822
Level 31 Chipist
Strobe
 
 
 
post #129822 :: 2020.11.01 10:10pm
  
  amelia, mirageofher, sean, ASIKWUSpulse, argarak, Jakerson, bluenocturne, kfaraday, doctorn0gloff, hanna, damifortune and kleeder liēkd this
I have full trust in Vav Bank.
 
 
129823
Level 31 Chipist
kleeder
 
 
 
post #129823 :: 2020.11.01 10:22pm
  
  mirageofher, sean, bluenocturne and hanna liēkd this
thats the funniest thing i've seen in a long time.
 
 
129831
Level 23 XHBist
CastleNes
 
 
 
post #129831 :: 2020.11.02 2:40am
  
  Baron Knoxburry, tennisers, mirageofher, sean and kleeder liēkd this
We will have to write a lyceum report about this affair. I don't want that to impact reputation of the red cloak order!
 
 
129835
Level 22 Chipist
ASIKWUSpulse
 
 
 
post #129835 :: 2020.11.02 7:03am :: edit 2020.11.02 7:06am
  
  tennisers, mirageofher, sean and Jakerson liēkd this
Dang, Vav, I hope you have a good defence and claim so this gets sorted out well, otherwise we all involved in this affair sit in the same boat and it's sinking.... 😨
I had full trust in you...
 
 
129860
Level 26 Mixist
Xaser
 
 
 
post #129860 :: 2020.11.02 5:15pm
  
  mirageofher, Baron Knoxburry, argarak, Jakerson, sean, kleeder, Yung Gotenks and kfaraday liēkd this
related: Public Toilet's profile pic is an eerily accurate depiction of Vavbank's inner workings.
 
 

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