Much noise and chatter has been created by this superduper story over at Stockwatch today, as it reports on the OSC filing against a certain Eda Marie Agueci, former executive assistant to the chairman of GMP Securities. Most of the talk is due to the connection Ms. Agueci has with Ian Telfer, head honcho at Goldcorp, but your author (as is his normal wont) takes the road less traveled by and notes one of the other people caught up in this saga, a certain Santo Iacono. Here’s an extract from the Stockwatch piece:
“As Ms. Agueci worked at GMP, any shares she personally held would be subject to review by the firm’s compliance department. To get around this, Ms. Agueci bought the stock in an account that was in the name of her brother-in-law, Santo Iacono, the OSC says.”
- Now, it might be a mere coincidence that Mister Santo here has the same last name as our much-adored provider of lawyers’ fees, Serafino Iacono. The Googlything doesn’t show a family connection between Serafino and Santo, por ahora.
- And hey, it might just be a wild coincidence that GMP is the go-to financial advisor to a whole boatload of Serafino Iacono companies in Colombia such as Pacific Rubiales (PRE.to) and Gran Colombia Gold (GCM.to) (and there are more where they came from, all with direct connection to GMP).
- And hey, guess which financial house came to Serafino Iacono’s rescue when his Alange Energy was caught bullshitting the market, saw its overhyped share price plummet, got a class action suit slapped on its ass and as part of the restructuring changed its name to Petromagdalena (PMD.v)? Yep, you’ve been guessing already haven’t you, it’s GMP.
So the woman fingered as a serial insider trader by the OSC who worked in a high level post in GMP and used her brother in law, named Iacono, to run an illegal trade, worked at the same place as the object of Serafino Iacono’s affections as witnessed here (page 9):
“We’ve done extremely well by GMP. They have played a key role in our evolution to a world class, diversified oil and gas producer. Their remarkable expertise, execution skill and valuable relationships make GMP our advisor of choice.”
Serafino Iacono
Co-Chairman, Pacific Rubiales Energy Corp.
As the old saying goes, you can choose your friends but you can’t choose your family. dyodd dude.