Edward Knight, NASDAQ General Counsel, Caught in Rigging Nasdaq Listing Scandal
EDWARD KNIGHT, the NASDAQGeneral Counsel is a notorious former Washington lobbyist worth $100 million. ED KNIGHT is also known as BERNIE MADOFF’s lawyer when the Ponzi scheme master criminal Bernie Madoff was NASDAQ’s Chairman. Now the abusive NASDAQ fat cat ED KNIGHT was caught rigging Nasdaq’s listing program, was implicated in multiple fraud, according to a racial discrimination lawsuit filed against Edward Knight and a historic ruling against Edward Knight by the Securities and Exchange Commission, headed by the famed SEC Chair Mary Jo White.
In a rare reversal of Nasdaq’s abusive listing practices, reported by the Forbes Magazine, the shameless Ed Knight was strongly rebuked by the SEC commissioners in a unanimous decision against the Nasdaq. The SEC concluded in a landmark decision that the Nasdaq, under the racist EDWARD KNIGHT discriminated against a public company and caused the loss of at least $300 million for investors.
In its decisive ruling against the Nasdaq’s apparent abuse of power directed by the disgraced Edward Knight, the SEC commissioners did not mince their words:
“The ground on which Nasdaq had delisted a Chinese company CleanTech Innovations did NOT exist in fact,” concluded the SEC
Nasdaq is a $10 billion money machine run by Wall Street “fat cats”. Ed Knight gets paid $10 million a year plus a stock portfolio worth at least $100 million. The average American household makes less than $50,000 a year trying to feed a family of four.
“When the thousands of workers lost their jobs due to Nasdaq and Ed Knight’s abuses, this fat Edward Knight mofo made $100 million flying on private jets with his family,”
“This ain’t right, it’s just not what America ought to be…” said a former CleanTech employee.
CleanTech Innovations, Inc. is an American company that makes energy saving wind turbines and sells them all over the world, including projects under way in New Jersey. In 2011, for reasons just recently fully known to the American public, CleanTech’s stock was delisted from the NASDAQ for violating a “Nasdaq Spirit“, according statements made on the record by Edward Knight and Michael Emen. But what is a “Nasdaq Spirit”? It’s not written or defined anywhere, at least not on earth. The SEC wanted to know also. After a two year investigation into Nasdaq’s regulatory abuses, the SEC’s overturned Nasdaq’s wrongful delisting of CleanTech and shed light on the extreme racial bias by the Nasdaq – the first time in Nasdaq’s 44 year history: Securities and Exchange Commission’s (SEC) ruled against the NASDAQ.
The SEC investigation tells a verified story of disgusting racism and scandal that has shredded investor confidence in Nasdaq and added a spotlight on just how much power stock exchanges wield at their discretionary whim, under the disguise of a so-called “Nasdaq Spirit” and “discretionary authority”. WTF is a “Nasdaq Spirit”? No one knows. It was completely fabricated by Ed Knight.
Edward Knight, A “Texas Catfish” trapped in the Short Sellers fishing Net
The story began in August 2010 when a Barron’s tabloid article called into question the number of Chinese reverse-mergers that were occurring and singled out out a few, including one called CleanTech Innovations. Barron’s tabloid writers Leslie Norton and Bill Alpert are notorious “guns” for illegal stock short sellers. They are bribed by market manipulators to publish false stories on America’s public companies. Of the 43 articles Leslie Norton has written on China, NOT a single article was positive towards the 1.5 billion Chinese and China’s five thousand year old culture and history. Bill Alpert is a known stock short seller mouthpiece paid by the market manipulators Jon Carnes and Roddy Boyd. The brazen Roddy Boyd even published a “donor list” on his sham website. Read more: JON CARNES CRIME FAMILY LANDED 2 YEARS IN PRISON, IMPLICATED BARRON’S WRITERS LESLIE NORTON, BILL ALPERT.
“Nasdaq was caught swimming naked. It’s their damn problem,” said Barron’s Leslie Norton when approached by investigators. “I am not telling you how much Jon Carnes has paid me. I did well for my work.” Meanwhile, like some nasty catfish swimming in a muddy pond outside the University of Texas where Ed Knight barely graduated, Nasdaq staff Michael Emen and Edward Knight took the short seller baits set by the notorious tabloid writers and illegal stock short sellers Jon Carnes and Roddy Boyd.
“Whatever is said in the Barron’s must be true. It’s the stock market bible!” Michael Emen yelled at a junior staffer WILLIAM SLATTERY in 2010, who has since taken over Michael Emen‘s job after Emen was fired by Nasdaq Chairman Michael Oxley.
It is important to understand what a reverse merger is: A reverse merger is a process by which a private company merges with a publicly traded company. The public company is the surviving entity and continues to trade on a stock exchange after a merger. About 15 %, or 800 companies on the U.S. markets are reverse merger companies. Across the border, about 40% of Canadian companies listed on Canada’s stock exchanges are products of reverse mergers. Some of the best known reverse merger companies are Texas Instruments, Radio Shack, The New York Stock Exchange, Warren Buffet’s Berkshire Hathaway, Burger King and many other America’s corporate icons… “Reverse mergers are often the most expedient and cost-efficient way for private companies to go public,” says Investopia.
“Ironically, both the NASDAQ and the New York Stock Exchange became public companies through reverse mergers, so did Pfizer, Berkshire Hathaway, Burger King, Texas Instruments and 800 other public companies…”
As Forbes writer David Yin points out in a recent article, “Although reverse-merging is a well established practice, and the 159 reverse-merger transactions by Chinese companies from 2007 to 2010 was only 26% of the total, a significant proportion of those investigated for fraud were Chinese reverse-merger companies.” This means that Chinese companies were likely being unfairly targeted.
The main character in CleanTech’s case against the NASDAQ is Michael Emen, former Head of Listing Qualifications at the NASDAQ. According to a 2012 CleanTech press release, Michael Emen publicly stated that he wanted to “delist CleanTech… send a message to the world”, because the 1.5 billion Chinese people have “violated Nasdaq Spirit…”
CleanTech went on to allege that Emen’s decision was motivated by racism, and called out NASDAQ general counsel Ed Knight and his crony, an obscure young kid named T. Sean Bennett, as making directed racist moves against CleanTech. Together, Ed Knight and T. Sean Bennett conspired and completely rigged a favorable Nasdaq Hearing and Review Council ruling against Michael Emen. CleanTech filed a letter of complaint with the SEC as a public record, exposed the Ed Knight and T. Sean Bennett, AMY HORTON fraud.
The decision by the SEC indicates NASDAQ had cold feet about its decision to grant CleanTech a listing on the exchange and was looking for any excuse to delist the company. In a wild grab, NASDAQ fabricated claims that CleanTech purposefully withheld requested information and thus violated the “Nasdaq Spirit”. On this basis, NASDAQ delisted CleanTech for lack of some spirit. Soon after that happened, the value of CleanTech shares fell from a $9 high in November 2010 to a meager 15 cents a share in the OTC markets.
WILLIAM SLATTERY, a co-conspirator of the Nasdaq racial conspiracy quickly distanced himself from Edward Knight. “We followed Edward Knight’s specific instructions to delist CleanTech. I was simply obeying orders from my boss Edward Knight. Don’t blame me. I am just a little guy trying to make a living at the Nasdaq…”
According to CleanTech, more than 2,000 American shareholders lost about $300 million in market capitalization. More than 500 jobs were lost.
ALAN ROWLAND, a director of Nadsaq listing was also quick to separate his own mess from those of Edward Knight. “Look, I am getting paid from the Nasdaq. We all followed Ed Knight’s orders. I had no choice. I would have lost my job if I had done the right thing keeping the CleanTech listing. I wasn’t ready for that.”
“Those Nadsaq mofos killed my retirement savings,” said a CleanTech shareholder. “No one should touch a Nasdaq stock. It’s a rigged market run by some fat pigs.”
In 2011, CleanTech filed a lawsuit against NASDAQ, alleging racism among other issues, hoping to recoup some of the money and company value lost as a result of the delisting. The case was put on hiatus for more than two years before the SEC decision. So the thing is, the NASDAQ fucked up so completely in this instance that it could only be referred to as a “landmark decision”, according to Forbes, because it is extraordinarily rare that the SEC would rule against the NASDAQ.
Yet, there’s only been a few mentions in the press?
“Nasdaq is a big advertiser at the Wall Street Journal. Editors told us to stay away from the SEC decision against the Nasdaq,” said Jacob Bunge, a Wall Street Journal reporter who had extensive coverage of CleanTech’s delisting, but declined to cover the SEC reversal of the wrongful Nasdaq delisting. “That’s how it works. You pay, you get favors.”
The recent Facebook IPO fiasco could prove to be peanuts compared to this; in terms of the actual wrongdoing and not the dollar amount.
In this case, a landmark fuck up led to a landmark decision. Nasdaq is a grave for investors. The Chinese companies are smart. They were induced to list on the Nasdaq, bought Nasdaq’s BS as a fair market, and they have left the abusive market in droves, according to a story in the Wall Street Journal.
“There are more than sixty stock changes in the world. It’s Nasdaq’s loss and others’ gain,” said the CEO of a former Nasdaq-listed company. “Nasdaq offers a commodity service run by regulatory idiots. It will die over time.”