Nilam Resources CEO Ron McIntyre resigned the day after the company's announcement to purchase 24,800 bitcoins, calling it a 'classic pump and dump' scheme. This resignation came shortly after the company's stock experienced a significant increase, reportedly tenfold, in response to the announcement. McIntyre highlighted that he was not informed about the details of the bitcoin transaction or the announcement prior to its release.
Nilam Resources CEO resigns day after 24,800-bitcoin announcement. https://t.co/lyBIP4r1vo https://t.co/pgJCx31znf
The CEO of the company that made the dubious “24,800 #Bitcoin LOI” announcement yesterday has resigned bc he was not given details of the transaction Or the announcement beforehand. In his own words: It’s a classic pump and dump. The stock did a 10x today. It was so… https://t.co/pKjlvbIiSz https://t.co/IJRobsRKDI
UPDATE: Via @Protos - Nilam Resources CEO Ron McIntyre resigns, calling the letter of intent to purchase #Bitcoin "a classic pump and dump" orchestrated by the company without his review 😮 https://t.co/Gxvb29xjr8
HUGE SCOOP FROM PROTOS: NILMAN RESOURCES CEO RESIGNS, CALLS NILMAN RESOURCES “CLASSIC PUMP AND DUMP” https://t.co/oQrqeMh4a9
🚨 Scoop: Nilam Resources CEO resigns day after 24,800-bitcoin announcement https://t.co/6to5AosVrk