In this report we focus on Clear System Recycling Inc. (CLSR.OB) a company that has yet again managed to redefine our already murky view of the OTCBB microcap world. After investigating for several weeks and conducting extensive background checks on the principals we discovered that the CEO and founder of the company merging into CLSR has a serious criminal background having beenconvicted in the 1980s and early 1990sfor "Counterfeiting US Currency" and "Building and Detonating Explosives". The CEO, Mark Ghighlieri (who now appears to be an art dealer and also goes by the name of Marco Selvaggia) has spent hard-time in jail for crimes that are so serious they are unheard of even for the OTCBB world.
While we are still scratching our heads as to how security regulators and gatekeepers have let this slip, Mr. Ghiglieri has been busy promoting the shares of CLSR to a valuation which is now approaching $400 million. As with all pump and dumps there are nearly 12 million undisclosed shares that were secretly purchased for $.004 a share (less than half of one penny) and are being sold into the unsuspecting retail investor at $5.50 a share through a little known broker in Toronto, Canada.