Have you ever bought anything? Have you ever bought anything expensive? How would you feel if you spent thousands of dollars for an item, and the seller never delivered what you had bought? Now, how would you feel if the quasi governmental agency responsible for the integrity of the transaction was the very reason your seller never delivered your item?

What if you were left, now out thousands of dollars, with no item to show for it, and no authority that will listen to your complaint? How would you feel? Could this happen in America? You bet it could, and it did, to about fifteen hundred people who bought a little known stock called Bancorp International Group BCIT , back in What follows on this website is the incredible account and explanation of what happened, is currently happening, and yet needs to happen for these very people.

As the Securities Exchange Commission SEC claimed in Litigation Release No.

Between May and August , the market was flooded with 41 counterfeit stock certificates representing approximately ,, shares. These counterfeit certificates were produced by fraudsters Mario Pino and Pamela J Thomson. These shares were then introduced and cleared into the public markets by brokers J.

Darbie Darbie and Capital Growth Financial CGF , and ultimately the Depository Trust and Clearing Corporation DTCC , the private corporation and self regulated organization SRO mandated by Congress for the clearing and settlement of security trades. The number of these counterfeit shares exceeded the easily verifiable legal outstanding share count of 4,, by a factor of fifty. The Company Responds — A straightforward solution, or so we thought. In early September , the company and its executives met with SEC officials in New York City to examine the capital structure uncertainty issue and attempt a solution to the problem.

The SEC resolved that the company was basically on its own to clean up the fraudulent shares. Shortly thereafter, Darbie and CGF, the brokers which Pino and defendants used to distribute and clear the fraudulent shares filed as intervenors in the lawsuit, claiming they had no foreknowledge of Pino and defendants fraudulent activities. The company then, though of questionable decision, resolved to avoid a long and expensive litigation by settling the lawsuit with the intervenors and the defendants.

Pursuant to the settlement agreement the company recognized the approximately ,, invalid shares as legal freely tradable stock exempt from registration under Section 3 a 10 of the Security Exchange act of in exchange for cash damages by the various parties, detailed in the settlement agreement linked above.

BCIT Stock | Bancorp International Group | Stock Message Board - Investors Hangout

All the fraudulent shares were recognized under section 3 a 10 as noted above and the settlement agreement was approved and ordered by Noma D. Gurich, Judge of the District Court.

Let BCIT Trade

It was current with financial filings by July and then submitted its form 15c to NASDAQ for relisting on the OTCBB exchange. After going back and forth with NASDAQ for comments and answers, in October , the 15c was accepted and the company was relisted on the OTCBB exchange and Legacy Trading was selected as the sponsoring market maker to furnish quoting on the exchange. BCIT should have started trading normally again at this time.

The DTCC Obstructs Justice — Lucy tricks Charlie Brown again and again. After almost a year of accounting, filings, legal work and expenses, BCIT was approved and ready to trade.

It appeared on the OTCBB dailylist as noted above, and should have started to trade normally. This was DTCC victory number one in the effort to keep BCIT from trading. Then in December the company participated in a conference call with DTCC, NASDAQ, NASD, and SEC representatives to discuss BCIT trading requirements.

All parties except the DTCC agreed that BCIT was up to date with filings and was eligible to trade. The DTCC knew what kind of circus this effort would be and enjoyed victory number two in the effort to keep BCIT from trading. For the next year, the company had various communications with the DTCC regarding the resumption of trading, and what would be required of the company for this to occur. In April the company succumbed to the DTCC blackmail and agreed to recognize an additional approximately ,, shares and to effect a 1 for reverse split and filed a schedule 14A proxy statement in this regard.

They also purchased a new CUSIP number and filed the reverse split with the Nevada Secretary of State effective June 27, We have yet to see this reverse split show up on the OTCBB daily list.

Yet STILL no results or further communication from Isaac Montal at the DTCC. Victory number three by the DTCC in the effort to keep BCIT from trading.

What Can Be Concluded — The Regulatory and Systemic Fraud after the Corporate Fraud. This is currently the central issue.

From May to August , BCIT traded over 2 billion shares. The remaining shares some number between ,, and 2,,, — to account for some combination of buying and selling are made up of shares sold by brokers fulfilling buyer demand in These shares never had legal certificates to back them up. In essence these shares were sold naked short by these brokers and to this date have never delivered a single good certificate.

Pursuant to REG SHO Rule b 3 brokers are compelled to either deliver good shares or go on the open market and purchase them. Just who is the DTCC? This situation is simply nothing more than the DTCC, an SRO Self Regulatory Organization ignoring its own statutes and regulations; REG SHO Rule b 3. What Shareholders Want — Just Follow the Rules That Have Been There All Along.

As a shareholder base, we want it made clear that we bought shares in the open market through our various brokers whom we have signed contracts with Rule 15c , and are entitled to receive good shares. All these years since in limbo land is in violation of statute and unacceptable. At this point we feel that filing complaints with State Attorney Generals, State Securities regulators and the United States Senate Finance Committee are the means to remedy our situation.

We seek this support to compel the Securities and Exchange Commission to enforce the statutes already in force. This website has been put together by the BCIT Shareholders Group to educate the public, to encourage discussion and to advocate public action regarding the fraud that has been perpetrated on shareholders of BCIT.

Bancorp International Group Inc (fka BCIT) Message Board - InvestorsHub

As a visitor to this website, take a few minutes; visit the various pages via the links at left to become more familiar with the specific history, facts and events of the BCIT saga.

Peruse the many official documents and exhibits for a first hand account. Home History Remedial Actions Timeline and Events Trading Charts and Data Corporate News Contact Info Discussions About Bancorp International Group, Inc.

Carlton Huxley Sez Carlton Huxley Communications Last updated: