There’s a new face in Congress that’s looking to get to the bottom of the MMTLP debacle and he’s going straight to the top.
Eli Crane, a Republican US Representative from Arizona’s 2nd district sent a letter to Gary Gensler himself asking for clarification and action on the MMTLP situation.
The official letter is being sent to Chairman Gensler of the SEC and Chairman Patrick McHenry of the House Financial Services Committee.
In his letter, Crane explains to Gensler that many of his constituents believe there were illegalities in the Preferred Series A Shares trading and halt. He is asking his office for a briefing on the matter as well as what their offices are doing to prevent securities fraud at the SEC.
This is exactly the kind of pressure we need put on Gensler, the SEC, FINRA and the broker/dealers. Not only did he write and send the letter, he tweeted an image of it out to all of his 18.5k followers.
Kudos to this Freshman Congressman from Arizona for diving right in for the tough fights! Crane previously was a Navy SEAL and you can find out more information on him at his website.
We would encourage you to tweet and reach out to Eli Crane to thank him for his support, especially if you are part of his district in Arizona.
The complete letter is shown below.
Only July 18th, the Twitter account for InvestorTurf tweeted this letter to their additional 22.7K followers.
Coverage on this is also available from Frank Nez’s blog here.