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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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In 2006 I bought shares in Allied Energy Corporation (AGYP)

Resolved Question:

In 2006 I bought shares in Allied Energy Corporation (AGYP) but recently i have had cause to doubt the validity and that this may be a scam. Does this come into your jurisdiction?
Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
Hi

Thank you for your question and welcome.

My name is XXXXX XXXXX I will assist you.

Do you have any share certificates?

Were the shares purchased through a broker or the electronic crest system?

Kind regards

AJ
Customer: replied 3 years ago.

I do have certificates marked restricted which i was told meant that i could not sell them until a year after purchase. they were bought thro an advisor who used Evergreen Equity Ltd. Brit ish Virgin Islands Two certs one for10,035 shares cusip no 019151 10 9 and 15937 cusip no same sare cert nos are5089 and 5578 Your further assistance would be so gratefully recieved Bill

Expert:  Alex J. replied 3 years ago.
Hi

Thank you.

Have you tried to sell the shares through a broker? And if so have they refused?

Kind regards

AJ
Customer: replied 3 years ago.

apologies for delay I did try a broker but they requested that I obtained written confirmation from the company that restrictions were lifted. This I requested by phone but with no effect which then gave rise to this exchange

Expert:  Alex J. replied 3 years ago.
Hi,

Thank you.

Sorry for the further questions but have they explained why this restriction is in place?

Kind regards

AJ
Customer: replied 3 years ago.

I received no reply from Allied Energy and the broker was not taking action on my part until this info was given by the firm in writing. I feel at an impasse

Expert:  UKSolicitorJA replied 3 years ago.
Hello,

AGYP is a US company and restricted stock is usually not transferable until the restrictions are lifted or some other conditions fulfilled.

The company appears to be legitimate.

As this would come under US jurisdiction, I would suggest that you file a query with the SEC about the restricted stock which you hold and that you have not received any response to your queries from the company. You should ask whether you were lawfully sold the stock which you hold and what needs to be done for you to sell or transfer the stock:

https://tts.sec.gov/oiea/QuestionsAndComments.html

At this point I do not want to believe that you were scammed.


Hope this helps
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience: English solicitor with over 12 years experience
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