Capella Resources (KPS.v)

Well, it looks like the stock price has reacted nicely to this post last week...LOL!

As for that $5m placement the company was trying to scam at $0.73 a pop, as they say round these parts "sigue participando" :-)

But seriously, it's fine that the scam has been discovered and the PPS plummet, but really these people deserve to be in jail. The rats behind this scheme have done this kind of thing umpteen times and will just do it again if allowed to, but the supine OSC just sits backs and does nothing. And really, after all is said and done, the OSC is just a reflection of the nation in which it operates as Canadians don't kick up the fuss they should. For every Vancouver Sun David Baines (who gets them wrong ocasionally too...he was wrong on his recent take of Agapov imho) there are a hundred Brian Graceys, but you guys up there never weed them out. Those who don't learn from history are condemned to repeat it.

All Capella Resources scam posts linked here

More on Capella Resources (KPS.v) and the scum behind the scam

This is an update to this morning's post which can be found below or on this link.

My oh my, what a company! Check out this link at one of my fave mineblogs, I Think Mining. Capella has a real reputation in the trade, as does the puppeteer behind the show, Brian Gracey.

Also unmissable is David Baines report on the ultra-shady Gracey, linked right here. Here's how the Baines report starts:

Brian Gracey's business doesn't look like a cash cow, but it is.

His office is located on the fourth floor of the tired Credit Foncier building at 850 West Hastings. The sign at the entrance says "apella Resources," a wounded vestige of Capella Resources, one of many TSX Venture Exchange-listed companies that he has controlled or managed during his two decades on Howe Street.

His office is, well, shabby. Some old steel filing cabinets, a couple of desks, no receptionist, just somebody who answers the door if you knock loudly enough. But appearances can be deceiving. Gracey has made a good living on Howe Street, good enough to afford to live in a $2.2-million home in the British Properties.

CONTINUES HERE

Also worth a quick look is this post from a blog back in 2006 that shows Capella Resources has been pumped and dumped previously....not a surprise, though.

The more you look, the more incredible it seems that the Canadian OSC regulators have never lifted a finger to protect innocent retail shareholders from these criminals. Now you know why I keep on calling the Canadian market one of the most corrupt in the world.

Related Post

Capella Resoures (KPS.v): A fraudulent scam for the ages