SEC investigators proceed at snails pace

SEC investigators now attempting to comb through the records of Suphire to establish whether or not the firm has violated any securities laws are proceeding at a snail’s pace according to information secured by the Financial Mirror.

The SEC investigators apparently are not receiving the cooperation that they expected from very polite staff employed at Suphire who for every question, respond, “I don’t know,” or refer the question to another colleague who also does not respond or as often as is the case, they say they need legal council and advice before they can respond to the question.

“Even the receptionist (at Suphire) wants legal advise before responding to the SEC investigators.”

Faced with lack of cooperation, reports suggest that the SEC has brought in an IT expert with good knowledge of cracking open encrypted files and documents to help speed up the investigations.