SHUVRQVWRVDLOZLWKKLPIURP'DYDRWR0DQLODZLWKRXWDXWKRULW\DQGZLWKRXWUHJDUGWRWKH
VDIHW\RIWKHSDVVHQJHUVDQGWKHFDUJR
,Q WKHLU SRVLWLRQ SDSHU SHWLWLRQHUV FODLPHG WKDW LQ YLRODWLRQ RI FRPSDQ\ UXOHV SULYDWH
UHVSRQGHQW IDLOHG WR QRWLI\ WKHP RI WKH YHVVHOV DUULYDO LQ 0DQLOD RQ -DQXDU\ DQG WR
SURYLGHOLIHVDYLQJHTXLSPHQWIRUWKHSDVVHQJHUVKHKDGDOORZHGWRERDUGDVUHTXLUHGE\6HF
RIWKH3KLOLSSLQH0HUFKDQW0DULQH5XOHVDQG5HJXODWLRQ
3HWLWLRQHUVVXEPLWWHGWKH DIILGDYLWRI1RLPL=DEDODSUHVLGHQWRI:HVWHUQ6KLSSLQJVWDWLQJ
DVIXUWKHUJURXQGIRUWKHHPSOR\HUVORVVRIWUXVWDQGFRQILGHQFHLQSULYDWHUHVSRQGHQWWKHIDFW
WKDW WKH ODWWHU DOOHJHGO\ FROOHFWHG 86 LQ IRUHLJQ FXUUHQF\ IURP :HVWHUQ 6KLSSLQJ LQ
YLRODWLRQ RI D &HQWUDO %DQN UHJXODWLRQ SURKLELWLQJ PDQQLQJ DJHQFLHV IURP ZLWKGUDZLQJ IRUHLJQ
UHPLWWDQFHVLQGROODUVDQGIDOVHO\DFFXVHG:HVWHUQ6KLSSLQJRIXQGHUSD\PHQW
3ULYDWHUHVSRQGHQWGLGQRWGHQ\WKDWKHKDGWDNHQSDVVHQJHUVRQERDUGWKHYHVVHORQLWV
WULSIURP'DYDRWR0DQLOD+HFODLPHGKRZHYHUWKDW0U=DEDODKDGEHHQQRWLILHGRIWKLVIDFWLQ
DWHOHSKRQHFRQYHUVDWLRQEXWKHGLGQRWREMHFWDQGWKDWWKHDGGLWLRQDOSDVVHQJHUVZHUHZLYHV
DQGFKLOGUHQRIWKHFRPSOHPHQWRIWKHYHVVHO3ULYDWHUHVSRQGHQWDOOHJHGWKDWWKHVKLSRZQHUV
DJHQW LQ 'DYDR WKH :RUOG 0DULQHU 3KLOLSSLQHV ,QF GLG QRW REMHFW WR WKH WDNLQJ 4I DGGLWLRQDO
SDVVHQJHUVEXWRQWKHFRQWUDU\VHFXUHGSHUPLWIURPWKH&ROOHFWRURI&XVWRPVIRUWKHPWRERDUG
WKH YHVVHO /DVWO\ LW ZDV DOOHJHG WKH &RDVW *XDUG DIWHU LQVSHFWLQJ WKH YHVVHO ZLWK WKH
DGGLWLRQDOSDVVHQJHUVRQERDUGLVVXHGDFOHDUDQFHIRUWKHYHVVHOWRVDLO
3ULYDWHUHVSRQGHQWGHQLHGWKDWKHGLGQRWQRWLI\:HVWHUQ6KLSSLQJRIWKHYHVVHOVDUULYDO+H
FODLPHGKHKDGVHQWDWHOH[PHVVDJHRQ-DQXDU\ LQIRUPLQJ :HVWHUQ6KLSSLQJRIWKH
H[SHFWHG WLPHP RI DUULYDO RI WKH YHVVHO RQ -DQXDU\ DW +UV DQG WKDW :HVWHUQ
6KLSSLQJVHQWDPHVVDJHDOVRE\WHOH[ZHOFRPLQJWKHDUULYDORIWKHYHVVHO+HDOOHJHGWKDWWKH
YHVVHOZDVHTXLSSHGZLWKWZROLIHERDWVDQGUDIWVZKLFKFRXOGDFFRPPRGDWHDOOSHUVRQVDERDUG
LQFDVHRIHPHUJHQF\
$IWHU KHDULQJ WKH 32($ UHQGHUHG D GHFLVLRQ ILQGLQJ SULYDWH UHVSRQGHQW WR KDYH EHHQ
LOOHJDOO\ GLVPLVVHG DQG DFFRUGLQJO\ RUGHULQJ SHWLWLRQHUV WR SD\ SULYDWH UHVSRQGHQWV PRQHWDU\
FODLPVDVIROORZV
:+(5()25(LQYLHZRIDOOWKHIRUHJRLQJSUHPLVHVMXGJPHQWLVKHUHE\UHQGHUHGRUGHULQJUHVSRQGHQW
:(67(516+,33,1*$*(1&<,1&25325$7('DQGLWVSULQFLSDO<HK6KLSSLQJWRSD\FRPSODLQDQW
WKHVXPRI),9(7+286$1'6,;+81'5(')257<7+5((86'2//$56 86