C-BAND=BS
On September 24 2001, stock in Stewart Kaiser's start-up company R-Tec was selling for 46 cents a share. That day, Kaiser issued a press release about R-Tec's new device called C-BAND (Chemical & Biological Alarm and Neutralization Defense System.) Four days later, R-Tec shares had risen to $2.40 each and Kaiser sold the 50,000 shares he had just given to his mother. The funny thing is that C-BAND was actually nothing more than a filing cabinet painted yellow and outfitted with a flashing red light. Today, Kaiser and his wife were indicted for securities fraud, obstructing justice, and other bad things. LinkShare this post
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