[Am-info] Royal Bank of Canada hides investor in SCO

[Erick Andrews]

On Mon, 17 May 2004 15:53:17 -0400, Gene Gaines wrote:

>I had a lengthy telephone conversation with an officer of the
>Royal Bank of Canada in Toronto.
>
>Seemed like a nice fellow.  Rather nervous.  Kept repeating that
>we do transactions like this all the time.
>
>Here is what I heard: Investor has used us to ... derivative ...
>other financial baloney statement that the investor chooses to
>hide behind ... the point is, by executing a derivative the
>comnpany hands their money to the bank who buys shares in SCO
>but does not need to disclose the name of the company dumping in
>the money ... I asked the name of the investor who hired the
>bank to hide behind ... told they choose to remain anonymous ...
>I asked if the transaction was in US Dollars or Canadian Dollars
>and was told that the investor did the transaction using the
>bank's New York office which should give me a clue that the
>company was a U.S. company.
>
>So. A well-heeled company that the bank hints is U.S. wishes to
>remain anonymous has elected to finance SCO in their campaign to
>destroy Linux and in fact destroy open source. Wonder who that
>could be?
>
>Hiding behind the skirts of a foreign bank.  Curious.  Queer.
>
>Let's see.  Maybe IBM is worried and wants to make an
>investment in SCO just in case IBM loses the case, but of course
>that would have the effect of financing the suit, and I think
>IBM is smarter than that.
>
>Gene Gaines
>gene.gaines@gainesgroup.com
>Sterling, Virginia

Canada must have an equivalent like the SEC.  Although I know
nothing of investment law in Canada, I'd wonder if there would
be any disclosure.

Erick Andrews