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SEC defendant Dalmy explains chest of cash

2018-10-05 10:34 ET - Street Wire

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by Mike Caswell

Diane Dalmy, the Vancouver-linked securities lawyer serving three years in a U.S. jail for helping a $10-million pump-and-dump scheme, has provided an explanation for a chest of cash that she left in a storage locker shortly before her incarceration. (All figures are in U.S. dollars.) She says that the money was to pay for knee and hip surgery upon her release. She also claims that she misunderstood her payment obligations under a $2-million restitution order.

The explanation from Ms. Dalmy is an interesting footnote to a case in which she pleaded guilty to a conspiracy charge. She admitted that she wrote fraudulent legal opinion letters that allowed others to receive tradable shares in several companies. The letters helped others make millions, according to the government. On May 15, 2018, the judge sentenced her to three years in jail and ordered her to pay $2-million in restitution.

The issue of the chest of money arose after Ms. Dalmy began serving her sentence. In a motion filed on July 27, 2018, prosecutors said that they had received a tip that Ms. Dalmy had a large amount of cash. The tipster told the government that Ms. Dalmy had asked that person to hold some money for her. Ms. Dalmy told the person that she was planning to use the money "for a rainy day, which will be when I'm out and trying to figure out my life." That person refused to store Ms. Dalmy's money, and later reported to authorities that Ms. Dalmy had put the cash in a storage unit in Colorado.

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Geeze.....these people, greedy and not to smart. They likely bilked millions but spent it on lifestyle and wound up as paupers. hop industry.......watch out for fake hops.

Posted by Matt at 2018-10-08 09:36