01 August 2014 (23:08 UTC-07 Tango 31 July 2014)/04 Shawwal 1435/10 Mordad 1393/06 Ren-Shen 4712

Ever here of a corporation called Cynk?  That hasn’t stopped investors from putting $6-billion USD into the company.   But wait, the company is fake!

On 11 July 2014 the Financial Industry Regulatory Authority declared an “extraordinary event”, after Cynk stock surged 23-thousand percent over two months!  The Securities and Exchange Commission halted trading of Cynk penny stocks.

Turns out investigations into the company showed it doesn’t exist!  No employees, no revenues, no assets!  Yet, the company reported a $1.5-million loss for 2013.

A man from Belize listed as the CEO of the company denied he was the CEO!

A reporter for Bloomberg went to Belize to find the HQ of Cynk: “I went to the place where it listed its headquarters…..it’s the nicest building in town…the 4th floor where the address is…is an offshore brokerage….the brokerage held Cynk shares for clients.  I don’t know who those clients are…….Don’t buy penny stocks!”-Zeke Faux (can we trust a guy with a last name that means Fake?)

Since Cynk is OTC (Over The Counter, aka Penny Stock), and not traded in the Dow or NASDAQ, it does not have to prove itself to investors.  It’s been reported that even the company’s phone number is fake.

The only reason federal officials looked into the company was the outrageous surge in the stock prices.  If the stock maintained a ‘natural’ price it’s possible they could’ve gone on for a long time taking investor’s money: “The challenge really is that those who engage in stock manipulation are so far ahead of the regulators….it really is a race…it’s only once the manipulation starts…that the agency is able to respond.”-Jacob Frenkel, former SEC

How many other fake corporations are being trading in the stock markets?

Despite the evidence showing Cynk is fake, on 25 July 2014 Cynk was allowed to continue trading!   However the stock price dropped from $21 per share to about one dollar.