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Turbodyne drops $600 million in two hours of trading
Disappeared man a former director
Tags: Masee Case Investigation
VANCOUVER, BC - Controversial Vancouver-based Turbodyne Technologies Inc., a heavily promoted firm listed on the NASDAQ market, recently in two hours dropped $600 million in value after a New York short-selling stock analyst issued a devastatingly critical report of the company's affairs.
Turbodyne was de-listed from the Vancouver Stock Exchange (VSE) last year. The company was highly successful in promoting its stock but had produced very little revenue when compared to stock market value. It also never produced a single unit of a revolutionary auto turbocharger, it claims to have developed. The company's principals are associates of a stock promoter who was involved in various 'problemsome' stock listings.
Four months after it was listed at the VSE, one of Turbodyne's directors, well-known local Dutch-born former banker Nick Masee and his wife Lisa disappeared without a trace. The police is tight-lipped about the investigation into the disappearance. A website officially requests information about the whereabouts of the couple. Masee was a former president of the Netherlands Businessmen's and Professionals' Association.