$RILY's Bryant Riley Under Fire for Fraud, Mismanagement, and Financial Irregularities

Bryant Riley, linked to $RILY, is embroiled in allegations of fraud and mismanagement, including misleading financial reporting and failure to file the necessary 10k document. The controversy has led to calls for Riley's resignation, amid reports that the "audit partner at Marcum left" and claims that $RILY's "Equity and the PFDs are worthless." The situation is exacerbated by a new lawsuit, the involvement of significant financial entities like Citadel and Millenium, and concerns over $RILY's financials' validity. There's also mention of a 26% yield on $BW bonds and Holbrook Holdings' potential implosion, further complicating the crisis. With Spicer Jeffries no longer auditing and allegations of a "Highly Leveraged Fraud," comparisons to Bear Stearns, and implications of the new SEC Clawback policy, the future of $RILY hangs in the balance, especially as regulatory action by FINRA looms.