Scams, message boards, and other worthless endeavors

[Betababe]

Sputnik

have you been dumping your free shares?

[Sputnik]

Betababe

Late again, late again with the 10Q!

The net loss for the quarter ended March 31, 2005 was $57,842, compared to a net loss of $628,180 for the quarter ended March 31, 2004. The difference is primarily to a $397,296 credit to research & development expenses due to the write-off of an accrued liability to West Virginia University pursuant to a legal settlement.

[Betababe]

Sputnik

you have been snookered, did chief trick you into buying this stock?

[Betababe]

Sputnik again I ask you.

are you sure they are doing biz with the REAL wellington?

http://www.asiatradingonline.com/stockscam.htm

Wellington International Bangkok, 10110 Thailand Tel [phone]Fax [phone] #Please note that this company is not connected in any way and should not be confused with Wellington International Management Company Pte Ltd of Level 61, MLC Centre, 19-29 Martin Place, Sydney, NSW which is a registered securities dealer (ASIC licence number 187915), nor with its parent company Wellington

[Betababe]

Sputnik

You have been SNOOKERED.
Or are you doing the SNOOKERING?

[Sputnik]

Betababe

I can't believe how stupid I can be sometimes. I just posted on RB that the Singapore Gov't fund initially had 3,365,700 shares and yesterday's filing stated that they were down to ~2,100,000. How many does that mean they sold?

[Sputnik]

Betababe

Something bad, wrong is happening. BR visited Singapore earlier this year. Now these guys are selling. I think the bottom might drop out. My wife sure thinks so.

[Sputnik]

Betababe

I am feeling a little low today! My son just found out that I have been raiding his "piggy bank" to buy ITKG shares. My wife is making me pay him back the full amount. They don't want to wait until rocketship ITKG blasts off.

Babe, here is proof of Chiefs "Salmon Fest". Guess who!

http://img.slate.msn.com/media/1/123125/2065969/2111765/2116520/050425_ARC_Skittles_ex.jpg

[Betababe]

Sputnik are you sure they are doing biz with the REAL wellington?

http://www.asiatradingonline.com/stockscam.htm

Wellington International Bangkok, 10110 Thailand Tel [phone]Fax [phone] #Please note that this company is not connected in any way and should not be confused with Wellington International Management Company Pte Ltd of Level 61, MLC Centre, 19-29 Martin Place, Sydney, NSW which is a registered securities dealer (ASIC licence number 187915), nor with its parent company Wellington

[monkeytrots]

MMMary ? - Followup:

I find the following registration at California's Website:
ANIMAL ADVOCATES
CT NUMBER: 121118

Mailing Address:
ANIMAL ADVOCATES
359 N SWEETZER AVE
LOS ANGELES, CA 90048

--------------------------------------------------------------------------------

SAN DIEGO ANIMAL ADVOCATES
CT NUMBER: 83943

Mailing Address:
SAN DIEGO ANIMAL ADVOCATES
P.O. BOX 230946
ENCINITAS, CA 92023
On-Line Financial Records Are Available
http://167.10.5.131/Ct0401_0500/0483/1OQI1K6.PDF
--------------------------------------------------------------------------------

Looks legit to me.

[jmhollen]

Oh my.......................

Is Anthony@Pukereific's "..Playmate-of-the-Annum.." involved with a bogus charity scam....!?!

By: churak2
08 Jul 2003, 02:40 PM EDT Msg. 93282 of 93282
Jump to msg. #
It appears that mistresss_mmmary's charity is not quite legitimate. Not that she won't take checks or Pay Pal. Whatta piece of work!!!

From CA Attorney General's office:

Animal Advocates is not registered with our office. We have received a copy of their articles of incorporation from the Secretary of State, but have not received the additional information from the organization which is needed to process the registration. A temporary number has been assigned - A30061. We will send the organization a notice to register letter.

This office does not evaluate which charities are "legitimate" or "worthy" in response to public inquiries. Individual opinions vary on the effectiveness of many of the charities. However, we encourage prospective contributors to carefully check the organizations they plan to support. This can be done by getting as many facts as you can, including the charity's exact name, address and telephone number. If solicited by telephone, ask to be mailed information about the charity's purpose, goals and finances before making any donation. Ask how your money will be used. Ask how much money will actually reach the charity and whether the solicitor is being paid to make the call. Also ask them if contributions are deductible for tax purposes.

Sincerely,
Candy Hetherington
Registry of Charitable Trusts

http://caag.state.ca.us/charities/

[jmhollen]

This may portend "..DOOM..." for Anthony and his dendrites - like m-m-m-mmmary, etc...:

SEC Wins Jury Verdict Against Penny Stock Trader Jerry Rosen and Accomplices for Role in Systems of Excellence Manipulation; Final Judgments Order Disgorgement, Prejudgment Interest, Civil Penalties and a Personal Trading Ban Against Rosen

The Securities and Exchange Commission announced that on April 24, 2002, the Honorable Donald M. Middlebrooks, United States District Judge for the Southern District of Florida, entered final judgments against penny stock trader Jerome E. Rosen, disbarred attorney William A. Calvo III, and Calvo's company, Diversified Corporate Consulting Group. Rosen, the trader exclusively responsible for his firm's market making activity in Systems of Excellence, Inc. ("SOE"), accepted a bribe, in the form of free SOE stock, in exchange for his efforts to manipulate the price of SOE. Diversified, a company controlled by Calvo, among others, supported Rosen's fraudulent and manipulative trading activity and sold unregistered shares of SOE while one of its principals was touting SOE in a popular penny stock newsletter. The final judgments, which follow a March 7, 2002 jury verdict in favor of the SEC, permanently enjoin (i) Rosen and Diversified from future violations of the antifraud provisions of the federal securities laws and (ii) Calvo, Rosen and Diversified from future violations of the registration provisions. In total, Rosen, Calvo and Diversified were ordered to pay more than $3.8 million in ill-gotten gains, prejudgment interest and civil penalties, all arising from their respective roles in the manipulation of SOE stock. Additionally, the Court enjoined Rosen from buying and selling individual stocks. With these final judgments, the Commission has now successfully concluded seven separate enforcement actions arising from its investigation of SOE, assisted in obtaining four criminal convictions, deregistered the securities of SOE, and recovered approximately $15 million for defrauded investors. Two related lawsuits against other defendants are still pending.

Final Judgment Against Rosen
The jury found that Rosen, a well-known penny stock trader working from the Aventura, Florida branch office of J. Alexander Securities, Inc. ("J. Alexander") manipulated the price of SOE stock. Rosen accepted a bribe in the form of SOE stock from Charles Huttoe, then the President of SOE, as an inducement to manipulate the price of SOE stock. Rosen then conspired with Huttoe, Sheldon Kraft (a stock promoter previously charged in this scheme), Diversified and Joseph D. Radcliffe (a co-defendant who settled upon the Commission's filing of its complaint) to obtain an exclusive supply of SOE stock, at favorable prices, in order to support his fraudulent and manipulative trading activity. The jury also found that Rosen had engaged in insider trading during the same period as a result of his access to material, nonpublic information supplied by Huttoe. The manipulative conduct and insider trading both violated Section 17(a) of the Securities Act of 1933 ("Securities Act"), Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. Finally, the jury found that Rosen resold unregistered SOE stock in violation of Section 5 of the Securities Act.

In addition to enjoining Rosen from violating the antifraud and registration provisions, the Court's order requires Rosen to disgorge $992,891.01, representing $615,966.50 in ill-gotten gains plus prejudgment interest of $376,925.01, and pay a separate $100,000 civil penalty. The disgorgement figure represents Rosen's share of trading profits that J. Alexander paid Rosen for his fraudulent SOE market-making activity and profits Rosen earned on the resale of SOE stock that he received from Huttoe. Further, the Court enjoined Rosen from directly or indirectly buying or selling securities registered with the SEC pursuant to Section 12 of the Exchange Act or securities meeting the definition of "penny stock" set forth in Exchange Act Rule 3a51. Finally, the Court required Rosen to maintain records relating to the activities described in the Complaint for three years and to provide the SEC with a sworn accounting of all his assets and liabilities.

[jmhollen]

That dearly departed soul and turbo-diesel powered motormouth, MMMary, mmmary (..etc., etc., etc...) made the NEWS today..........

Local stock speculator is accused of bribing FBI agents for information on companies

By Dean Calbreath UNION-TRIBUNE STAFF WRITER June 10, 2002

When local stock speculator Amr 'Anthony' Elgindy first dealt with the FBI, it was as an informant –– wearing body wires, using tapped phones and collecting boxloads of evidence in an effort to stay out of jail.

Elgindy's reluctant partnership with the FBI soon blossomed into a profitable relationship. He told the feds about wrongdoing at companies and then made money by betting that the resulting investigations would push the stock prices down.

Now Elgindy faces charges that his relationship with the FBI got too close. He is slated to be extradited to New York this week on charges that he bribed two FBI agents to gain negative information about the companies he was betting against.

His case offers a glimpse into the wobbly companies on the lower rungs of the stock market, the speculators who try to profit from those companies' downfall, and the government watchdogs whose informants often have mixed motives for attacking corporate wrongdoers.

Elgindy, 34, portrays himself as a reformed scam artist, a white knight battling corporate fraud. Others call him a brash, arrogant wheeler-dealer with a sharp tongue, a volatile temper and a penchant for cutting corners to get his way.

During the past several years, he became one of the country's most prominent short-sellers, with a Web site dedicated to purveying damaging information about the companies he was shorting.

But he started out on the other side, as a broker who was trying to pump up worthless stock rather than knock it down.

After a stunted education at the University of Southern California and San Diego State University, Elgindy started peddling stock in 1988 at Blinder, Robinson & Co., which was then being investigated by the Securities and Exchange Commission for foisting shoddy stocks onto unsuspecting investors. When client lawsuits forced Blinder into bankruptcy in 1992, Elgindy, just 24 at the time, migrated to other firms, often drawing complaints from clients who said he misused their money.

In legal proceedings, some clients accused him of making unauthorized purchases, lying about their portfolios or making unnecessary trades to boost his sales commissions. Elgindy's mother told the National Association of Securities Dealers that he had made unauthorized trades in her pension account. She won $30,000 in arbitration in 1992.

Elgindy's high-pressure stock-selling techniques were echoed in his private life. In October 1989, Mary Faith Lumpkin went so far as to seek a court order to force Elgindy to stop harassing her.

'He does not give up. He will call me at home, at work. He will follow me. He will have his friends follow and call me,' Lumpkin complained, adding that she feared he might turn violent.

Not long after the filing, Lumpkin married Elgindy. They now have three children. But some of Elgindy's other relationships have not been resolved so well.

Last month, Elgindy was ordered to pay $155,000 to his former attorney Matthew Tyson for libel and infliction of emotional distress. In a bitter feud, Elgindy slammed Tyson on the Web in racially tinged attacks. He offered Tyson's employer $100,000 to fire him.

'He threatened to hunt me down and to somehow strike me with his shoes, with his foot, and made some threat about hanging me by (an anatomical location),' Tyson said.

San Diego Superior Court Judge William R. Nevitt ruled that Tyson was not blameless in the dispute, because he let his own business interests conflict with Elgindy's, even while serving as his attorney. But Nevitt added that this could not excuse Elgindy for his self-described 'campaign to 'destroy' Tyson and make his life 'a living hell.' '

Elgindy's career path took a hairpin turn in 1995, when he became the target of a federal sweep of local brokers. To avoid trial, Elgindy spent 16 months as an FBI informant. His chief target was his then-employer, Melvin Lloyd Richards, who was making money by peddling worthless stocks through a network of boiler-room brokerages.

Elgindy's testimony was key to the government's successful campaign to put Richards and several associates in jail. Assistant U.S. Attorney Jasmine Saide wrote that 'the government could not have made its cases' without his help.

After the Richards case, Elgindy discovered there was money to be made by ferreting out other Richards-style scam operators –– stock promoters who hype untested technologies or inflate corporate profit figures to push the stock prices of poorly performing companies to sky-high levels.

Elgindy's plan was to find overhyped stocks and short them. To short a stock, an investor borrows shares and immediately sells them, expecting to replace them at a lower price later, betting that the price will go down.

But Elgindy was not content to wait for prices to go down. His idea was to force them down through coordinated attacks with other short-sellers. So he launched a Web site and e-mail list, where he slammed companies in often scatological terms, poking holes in their financial statements and overoptimistic press releases.

Short-sellers paid $600 per month to belong to his e-mail list. An even wider audience followed his attacks in Internet chat rooms.

**********************************************

'His reports taught investors how to spot stock scams and loser investments,' said Mary Cummins, who dabbles in the stock market in Los Angeles. 'I learned how to do proper due diligence by reading his reports. I learned how to check out management and the company's supposed claims.'

**********************************************

Elgindy soon developed a reputation as the king of the short-sellers. His short-selling –– together with the money generated by his subscriptions –– helped pay for his $2.2 million mansion in Encinitas and his Humvee, Ferrari, Bentley and Jaguar.

Elgindy employed a variety of questionable techniques to obtain information on the companies he was targeting.

When preparing for an attack on SulphCo, a petroleum desulfurization lab in Reno, Nev., Elgindy visited the company and allegedly gave his name as Tony Carponus, saying he was a potential investor willing to plunk down $3 million if he could review its financial data and tour the plant.

In a scathing Web diatribe after his visit, Elgindy attacked SulphCo's technology, executives and financial projections. He suggested that its equipment was patched together with aluminum foil. He noted that the chief financial officer once headed a company that collapsed as a Ponzi scheme. He said founder Rudy Gunnerman had a record of drawing investors to companies whose products never succeeded on the marketplace.

SulphCo, which sued Elgindy for fraud, refuses to discuss the charges. In a court filing, Gunnerman rebutted some allegations, but left others undisputed. An SEC staff report recently accused the company of violating securities laws, which is often a preliminary step toward an indictment.

The SEC declined to comment on whether it uses Elgindy as a source in its investigations. But SEC indictments often follow his attacks.

'I have provided information on dozens and dozens of companies that were either scams or had suspect activity surrounding them,' Elgindy wrote in a letter last week to The San Diego Union-Tribune from his cell in the federal prison in downtown San Diego.

The question facing federal prosecutors is whether federal agents were providing Elgindy similar information. The indictment handed down last week states that one of Elgindy's subscribers paid $31,425 for criminal records from an FBI agent, which Elgindy then used to slam the companies where the executives worked.

Elgindy denies that. 'I have never paid any FBI agent or any government agent for any information ever,' he wrote.

But Elgindy's penchant for feeding tips to government agencies has long led critics to wonder if he receives tips in return.

'Have any of you believers ever wondered how he gets his inside information?' an online critic who uses the name Walter wrote in 1999. 'Have you called the SEC to learn if he's really a witness, or is he more likely to have a few very fertile plants in that environment? Does he really know what's going to happen, or does he make it happen?'

That's a question a federal jury is probably going to have to answer.

Dean Calbreath: [phone]; dean.calbreath@uniontrib

[jmhollen]

Throw a couple of nickels in the Juke box, Troops.........

The great A@P tap dance begins.......

NEW YORK (Reuters) - Two FBI agents pleaded not guilty on Tuesday to charges that they provided secret agency information on U.S. companies to a Wall Street speculator who used it to identify stocks that were likely to fall -- allowing him to make money by "short selling".

Jeffrey Royer, 39, and Lynn Wingate, 34, were both arraigned in Brooklyn Federal Court and their not guilty pleas were entered by their attorneys.

Royer and Wingate were arrested six days ago along with online stock commentator Anthony Elgindy and two of Elgindy's colleagues. The five were charged with, among other things, racketeering and securities fraud, and the charges carry a maximum sentence of up to 20 years.

"It's hard to imagine a stronger case than what we have against Mr. Royer here," U.S. Assistant Attorney Kenneth Breen said on Tuesday.

According to Breen, Royer admitted to most of the accusations against him after his arrest, including allegations that he dug up information about companies in regulatory or criminal trouble in FBI databases and passed it on to Elgindy.

Breen said agents who searched Elgindy's San Diego office found files containing reports about businesses targeted in the short-selling schemes. One of those files, labeled "FBI", had Royer's business card attached.

According to prosecutors, Elgindy sent more than $30,000 to Royer as payment for his accessing the FBI's National Crime Information Center and Automated Case Support databases.

Royer is alleged to have recruited Wingate, who worked in the FBI's Albuquerque, New Mexico, office and continued to monitor FBI information after Royer left the FBI in December to work directly for Elgindy.

Elgindy, 34, owns and operates Pacific Equity Investigations, as well as www.InsideTruth.com, a public investment Web site, and www.AnthonyPacific.com, a subscription e-mail newsletter and subscription-based investment Web site.

He encouraged his paid Web site subscribers to short sell the stocks as well, thus pushing down share prices so he and the others could maximize profits.

Short-selling is a strategy whereby an investor sells a stock before having paid for it, and pays for it only after its price has fallen.


"...........Wheeeeeeeeeewwwwwwwwwww..."!!!

I'll bet these preliminary legal-beagle gyrations send a relly 'cool breeze' up a lot of people's skirts...!!!

"...Dooooooooooom-da-doooooooomp-dooooooooooomp..........!!!



.

[jmhollen]

http://home.attbi.com/~fishnderby/gif/face.gif

[Joemoney]

It's Memorial day weekend. Veteran's Day is in November.

[jmhollen]

Happy Veteran's Day weekend, everybody........!!



John

.

[jmhollen]

.

[Mattu]

RE: ".....My suggestion for Raging Stupidly:

I have one for your case.

Push the friggen button once, Hollen.

Buy a new computer if you really struggle with pushing the button ONE TIME.

One click Hollen. One click.

I can only take so much of your garbage as it is. Much less seeing the same garbage duplicated 5x over.


Few other requests while I'm at it. Push your POS stocks on their respective threads. Don't drag it onto other boards.

Control yourself with the graphics. They are goofy as heck and rather unhumorous.

[jmhollen]

Speaking of absolutely "...worthless endeavors...". Here's what some freaked-out Bozo posted to the SUGG suggestions board at Raging Bull..:

****************************
".....My suggestion for Raging Stupidly:

why not have all Raging Bull staff disclose their stock holdings?!

Furthermore, why not have Raging Bully disclose, entirely, what relationships it may have with stock promoters, brokers (especially penny brokers), market makers, specialists, "newsletter" writers, advisory "message" services and/or any other financial advertisers, counselors, analysts, etc........

Now, wouldn't THAT be interesting?!!!!!...."

*****************************************************

Sure sounds to me like somebody lost their allowance on ZERO "DD" -- blames the whole investing world for his goofy screw-up -- and then "...........JUST CAN'T GET OVER IT........................."!!!

I don't think RB was really very impressed either, considering the failure to capitalize the secnd sentence.

What a doofus. Bwahahahahahahahahahahahahahahahahahahahahahahahahah.........


John

.

[jmhollen]

Speaking of absolutely worthless endeavors. Here's what some freaked-out Bozo posted to the SUGG suggestions board at Raging Bull..:

****************************
".....My suggestion for Raging Stupidly:

why not have all Raging Bull staff disclose their stock holdings?!

Furthermore, why not have Raging Bully disclose, entirely, what relationships it may have with stock promoters, brokers (especially penny brokers), market makers, specialists, "newsletter" writers, advisory "message" services and/or any other financial advertisers, counselors, analysts, etc........

Now, wouldn't THAT be interesting?!!!!!

*****************************************************

Sure sounds to me like somebody lost their allowance on ZERO "DD" -- blames the whole investing world for his goofy screw-up -- and then "...........JUST CAN'T GET OVER IT........................."!!!

I don't think RB was really very impressed either.

Bwahahahahahahahahahahahahahahahahahahahahahahahahah.........


John

.

[jmhollen]

Speaking of absolutely worthless endeavors. Here's what some freaked-out Bozo posted to the SUGG suggestions board at Raging Bull..:

****************************
".....My suggestion for Raging Stupidly:

why not have all Raging Bull staff disclose their stock holdings?!

Furthermore, why not have Raging Bully disclose, entirely, what relationships it may have with stock promoters, brokers (especially penny brokers), market makers, specialists, "newsletter" writers, advisory "message" services and/or any other financial advertisers, counselors, analysts, etc........

Now, wouldn't THAT be interesting?!!!!!

*****************************************************

Sure sounds to me like somebody lost their allowance on ZERO "DD", blames the whole investing world for his goofy screw-up, and then "...........JUST CAN'T GET OVER IT........................."!!!

I don't think RB was really very impressed either.

Bwahahahahahahahahahahahahahahahahahahahahahahahahah.........


John

.

[jmhollen]

Speaking of absolutely worthless endeavors. Here's what some freaked-out Bozo posted to the SUGG suggestions board at Raging Bull..:

****************************
".....My suggestion for Raging Stupidly:

why not have all Raging Bull staff disclose their stock holdings?!

Furthermore, why not have Raging Bully disclose, entirely, what relationships it may have with stock promoters, brokers (especially penny brokers), market makers, specialists, "newsletter" writers, advisory "message" services and/or any other financial advertisers, counselors, analysts, etc........

Now, wouldn't THAT be interesting?!!!!!

*****************************************************

Sure sounds to me like somebody lost their allowance on ZERO "DD", blames the whole for his screw-up, and just "...........CAN'T GET OVER IT........................."!!!

I don't think RB was really very impressed either.

Bwahahahahahahahahahahahahahahahahahahahahahahahahah.........


John

.

[jmhollen]

Speaking of absolutely worthless endeavors. Here's what some freaked-out Bozo posted to the SUGG suggestions board at Raging Bull..:

****************************

".....My suggestion for Raging Stupidly:

why not have all Raging Bull staff disclose their stock holdings?!

Furthermore, why not have Raging Bully disclose, entirely, what relationships it may have with stock promoters, brokers (especially penny brokers), market makers, specialists, "newsletter" writers, advisory "message" services and/or any other financial advertisers, counselors, analysts, etc........

Now, wouldn't THAT be interesting?!!!!!

*****************************************************

Sure sounds to me like somebody lost their allowance on
ZERO "DD", blames the whole for his screw-up, and just...
"...........CAN'T GET OVER IT........................."!!!

I don't think RB was really very impressed either.

Bwahahahahahahahahahahahahahahahahahahahahahahahahah.........


John

.

[jmhollen]

Speaking of absolutely worthless endeavors. Here's what some freaked out Bozo posted to the SUGG suggestions board at Raging Bull..:

****************************

".....My suggestion for Raging Stupidly:

why not have all Raging Bull staff disclose their stock holdings?!

Furthermore, why not have Raging Bully disclose, entirely, what relationships it may have with stock promoters, brokers (especially penny brokers), market makers, specialists, "newsletter" writers, advisory "message" services and/or any other financial advertisers, counselors, analysts, etc........

Now, wouldn't THAT be interesting?!!!!!

*****************************************************

Sure sounds to me like somebody lost their allowance on
ZERO "DD", blames the whole for his screw-up, and just...
"...........CAN'T GET OVER IT........................."!!!

I don't think RB was really very impressed either.

Bwahahahahahahahahahahahahahahahahahahahahahahahahah.........


John

.

[jmhollen]

Speaking of absolutely worthless endeavors.......
Here's what some freaked out Bozo posted to
the SUGG suggestions board at Raging Bull..:

****************************

".....My suggestion for Raging Stupidly:

why not have all Raging Bull staff disclose their stock holdings?!

Furthermore, why not have Raging Bully disclose, entirely, what relationships it may have with stock promoters, brokers (especially penny brokers), market makers, specialists, "newsletter" writers, advisory "message" services and/or any other financial advertisers, counselors, analysts, etc........

Now, wouldn't THAT be interesting?!!!!!

*****************************************************

Sure sounds to me like somebody lost their allowance on
ZERO "DD", blames the whole for his screw-up, and just...
"...........CAN'T GET OVER IT........................."!!!

I don't think RB was really very impressed either.

Bwahahahahahahahahahahahahahahahahahahahahahahahahah.........


John

.

[jmhollen]

Gee, isn't this mmmary & CoolBreeze's premiere source of red hot stock information....????

TSX member Global wired Elgindy money to Lebanon
TSX Venture Exchange *TSX
Shares issued 0 May 26 2002 close $.000
Friday May 24 2002 Street Wire
by Brent Mudry

In the first detailed revelation of advance Sept. 11 knowledge, the U.S. government suggests controversial California short Amr Ibrahim (Anthony) Elgindy, an important client of Vancouver brokerage Global Securities, might have been tipped off about Osama bin Laden's Sept. 11 terrorist attacks on the World Trade Center in New York and the Pentagon in Washington, and tried to dump his shares the day before.

The stunning, and unproven, allegation was made Friday morning at a detention hearing in San Diego by Brooklyn Assistant United States Attorney Ken Breen of the Eastern District of New York. The Sept. 11 comments formed part of the government's successful argument that Mr. Elgindy poses a serious flight risk, and he was denied bail.

Mr. Breen also presented verbal evidence to Magistrate Judge John Houston of Mr. Elgindy moving funds offshore, including $700,000 transferred to Lebanon, and the fact that the short gave directions for his Web site operation to start sending profits to Lebanon. (All figures are in U.S. dollars.) While Stockwatch reported Thursday that Mr. Elgindy bought a hotel in Lebanon two months ago, citing an unconfirmed source, Mr. Breen did not mention the hotel in court.

Court testimony showed that Global Securities was a major origin of these offshore transfers.

Mr. Elgindy's San Diego attorney, Jeanne Knight, told the court that her client was buying a vacation home in Lebanon. The government presented no written documentation in court detailing Mr. Elgindy's financial dealings, including his offshore transactions, or any other details of the case. Mr. Breen was in transit back to New York after the California hearing and could not be reached for comment. Ms. Knight was not able to return calls from Stockwatch.

Mr. Elgindy, born in Cairo, has lived in the U.S. since age two or three, according to U.S. authorities, but he retains dual American-Egyptian citizenship. To bolster its flight-risk argument, the government suggests he might have been tipped off about the arrests Tuesday of several associates in Albuquerque, N.M. When police searched his house, the fax machine held documents giving power of attorney to Mr. Elgindy's wife to dispose of his assets.

Mr. Elgindy's brother, Khaled Elgindy, is a Washington-based Arab American activist involved in Islamic affairs and Amr Elgindy himself has shown a charitable interest in Muslim issues, but there is no evidence that either are connected to, or in any way condone, the cause of Mr. bin Laden, his Al Qaeda network or any other terrorist organizations.

"What we have going for us is the moral high ground," Khaled Elgindy told a Washington panel discussion on "How to Discuss Jerusalem with the American Public." Mr. Elgindy said that while the Jewish lobby has the art of manipulation, the skills and the experience, the Arab Muslim community has the "weapons" of truth and justice in its arsenal.

The San Diego court revelations are particularly striking as one of Anthony Elgindy's most important and trusted brokers is Art Smolensky, the founder and chairman of brokerage Global Securities, and Mr. Smolensky is a prominent member of Vancouver's Jewish community.

According to the government, Mr. Elgindy phoned one of his brokers on Sept. 10 and requested the liquidation of a $300,000 trust account in the name of his children.
Mr. Elgindy is charged only with securities fraud related offences, none of which relate in any way to terrorism or treason.

"The allegations under investigation, Your Honour, consistent with how I described them, which is as part of risk of flight and certainly not something that's charged at this time, but the investigation is continuing, is that on September 10th, in the afternoon, Mr. Elgindy contacted his broker at Salomon Smith Barney, the broker who was in charge of Uniform Gift to Minor trust accounts in the names of Mr. Elgindy's children, and he asked the broker to liquidate those accounts, and he made a comment predicting the market was going to drop to 3,000 at a point in time when the market was at approximately 9,600," Mr. Breen told the court.

"He was unsuccessful in doing that because it was late in the day, he didn't have authority to do that because the accounts were trust accounts. But certainly something that could be taken from his attempt in that regard is that perhaps Mr. Elgindy had pre-knowledge of the September 11th attacks and, rather than report it, he was attempting to profit from that information."

The Dow Jones Industrial Average closed at 9,600 on Sept. 10, plunged to 8,700 when trading resumed after the Sept. 11-related market halt, and bottomed out just above 8,100 a week later.

The judge told the court he would "disregard" the implication that Mr. Elgindy might have known in advance about the terrorist attacks, either in specific or in general.

Prosecutor Mr. Breen told the court that, with Mr. Elgindy's illicit access to FBI and grand jury databases, he would have been privvy to a report, an "FBI-302," describing an FBI interview with the Salomon broker who was in contact with him that day. "That was accessed by Mr. Royer (a former FBI Special Agent in league with Mr. Elgindy) and the information provided to Mr. Elgindy."

Judge Houston asked if this interview related to Sept. 11.
"Regarding Mr. Elgindy's attempt to make those trades on September 10th. And again, this is not something that at this point in time we have sufficient evidence to charge, and it may never be charged, but, to the extent that it's relevant here, it's relevant to the risk of flight and that Mr. Elgindy is potentially facing more serious charges," stated prosecutor Mr. Breen.

The court was told Mr. Elgindy made the Sept. 10 calls to his Salomon broker at about 12:00 or 12:15 pm Pacific time. Mr. Elgindy and his assistant had a series of conversations with the broker, asking him to liquidate the accounts, which had an approximate value of $300,000.

"In the course of the communications between the broker and Mr. Elgindy, Mr. Elgindy indicated or predicted that the market was going to drop to 3,000. There was no time frame for that context. But the evidence shows, and this 302 indicates, that Mr. Elgindy did have a meeting scheduled with the broker the next day but that he was calling on the 10th in order to try to effect this transaction," Mr. Breen told the court. The prosecutor confirmed the broker contacted the FBI with the information.

The federal prosecutor then traced out financial details regarding the flight risk assessment.

"Mr. Elgindy, as the Pretrial Services report indicates, does have significant foreign ties, including dual citizenship in Egypt. In addition that that, we've determined that he's transferred approximately $700,000 to Lebanon in a series of wire transfers, some of which came from Canada where Mr. Elgindy kept one of his securities accounts at Global Securities."

Two wires were identified: a $125,000 transfer on Nov. 24 and a $300,000 transfer on Feb. 13. "I've been advised by our forfeiture people that they've found additional transfers that total approximately $700,000, but I don't have that specific information."

"In addition to that, in February 2002, the defendant gave instructions to somebody who he was business partners with as to his website, that Mr. Elgindy's portion of the profits in the website should be sent by wire directly to Lebanon instead of to Mr. Elgindy here in the United States," Mr. Breen told the court.

"In addition to that, in April 2002, the defendant transferred the assets that he had in accounts in Canada from his brokerage accounts into a company that was set up in Beirut, Lebanon."

"In connection with the defendant's arrest, there was a search that was done at his business and at his residence and, during those searches, the agents found what I would describe as a getaway stash -- $43,000 in cash, gold jewelry, coins, and a loose diamond, along with a passport. They also found on the fax machine that the defendant had been tipped of the arrest shortly before it, presumably by somebody who is in New Mexico, where two defendants were arrested earlier in the day," states Mr. Breen.

The prosecutor also pointed out that Mr. Elgindy was on probation for his insurance disability compensation fraud, and that his stock fraud offences were during this probation period, while he also "has a history of drug abuse, including cocaine and marijuana."

"Mr. Royer, after being Mirandized, provided information about Mr. Elgindy and, in fact, indicated that it was likely that Mr. Elgindy would have drugs in his house. He didn't, although our position on that is because he had time to prepare for the arrest and the search, that he easily could have disposed of those," Mr. Breen told the judge. While no drugs were found, ammunition was located in the Elgindy residence, which is a probation offence.
Defence counsel Ms. Knight presented a better picture of her client.

"A flight risk is someone who is a fugitive or a head of a big drug organization or someone who has a lot to lose by staying here. Mr. client is a U.S. citizen. His wife is present in court, as she usually is, Mary Faith Elgindy, who was born in Louisiana. They have three beautiful sons ... His mother is a pediatrician in Chicago. His father's a professor. He has brothers -- a brother that works in the White House. All of his family are professionals."

Ms. Knight also pointed out that the liquidation of Mr. Elgindy's children's college fund accounts was executed on Sept. 18, and while he had $2-million in the market himself at that time, his accounts were not liquidated then. The defence lawyer stated Mr. Elgindy moved his brokerage account "to Yukon Territory, Canada, not Beirut, so my concern is part of this is just smacking of racial profiling."

Mr. Breen countered these points. "The address given for the Yukon corporation is a Beirut, Lebanon address, so I'm not sure what counsel means by that. The two million in stock, Your Honour, what he had invested were short positions that would only benefit from that kind of event. What he did is liquidated the long positions that were vulnerable to that kind of news."

Judge Houston notes the pretrial services report indicates that Mr. Elgindy travels to Canada four or five times a year, to Kosovo and Macedonia once or twice a year, and he was last in Egypt, a country which he needs no visa for, in November. "The court also notes that, and finds that you have a home in Lebanon." Mr. Elgindy was deemed a serious flight risk and denied bail.

(c) Copyright 2002 Canjex Publishing Ltd. http://www.canada-stockwatch.com

.

[jmhollen]

Yeah.................

And, "..you-know-who.." is all over the boards trying to SPIN it as a massive Government plot - driven by disgruntled corporate CEOs - bound on getting even for A@P's most excellent disclosure of scurrilous wrong-doing in high places.......

"...and a par-tri-idge in a pear tree.....", can you dig it..?!?

Tee hee.


John

.

[Capt_Nemo]

including the two FBI agents ,,,HAAAAAAAAAAAAA Dogs!!!!!!!!!

Rick...

By working faithfully eight hours a day, you may get to be a boss and work twelve hours a day."
-Robert Frost

[jmhollen]

And now, Reuters has it.......................

UPDATE 1-Shortseller, FBI agents nabbed for stock fraud
22 May 2002, 6:11pm ET

By Per Jebsen

NEW YORK, May 22 (Reuters) - It's a dream for a dishonest stock trader and nightmare for law enforcement: tap into confidential FBI databases and get information about companies in regulatory or criminal peril.

That is what transpired in the last two years, federal prosecutors said in an indictment unsealed on Wednesday. Even worse, two of the alleged conspirators were agents of the Federal Bureau of Investigation. When prosecutors began a grand jury probe into the scheme, the agents used the FBI databases to keep track of their progress, court documents said.

On Tuesday, the alleged scheme came to a halt with five arrests, including the two FBI agents and the alleged mastermind: controversial short-seller and online stock commentator Anthony Elgindy.

Elgindy, 34, is a corporate gadfly who owns and operates Pacific Equity Investigations, as well as www.InsideTruth.com, a public investment Web site, and www.AnthonyPacific.com, a subscription e-mail newsletter and subscription-based investment Web site.

He was charged with selling short the stocks of publicly-traded companies that he had identified through the confidential FBI data. He also extorted cheap or free shares from his corporate victims, according to court documents.

He encouraged his paid Web site subscribers to short sell the stocks as well, thus pushing down share prices so he and the others could maximize profits. Short-selling is a strategy whereby an investor, having borrowed shares, profits when a company's stock price falls.

"The allegations in the indictment reveal a shocking partnership between an experienced stock manipulator and law enforcement agents, undertaken for their illicit personal financial gain," Alan Vinegrad, the U.S. Attorney for the Eastern District of New York, said in a statement.

Elgindy was not immediately available for comment,

CHALLENGE COMPANY MANAGEMENT

Elgindy has been frequently quoted in the financial press because of his willingness to challenge company management. Recent targets include biotech firm Aksys Ltd. (NASDAQ:AKSY) and electronic device maker Applied Digital Solutions Inc. (NASDAQ:ADSX).

Elgindy's InsideTruth Web site issues stock research that stands the traditional, bullish Wall Street formula on its head: investors are urged to sell, with not-so-subtle warnings such as "We Smell Fraud!!"

"InsideTruth.com is committed to providing the Internet's most straight-forward hard-hitting, fact-based Securities research," the Web site states. "We will work hard to uncover the truth behind the stocks."

According to prosecutors, that hard work in uncovering the truth included a wire transfer of mora than $30,000 to FBI agent Jeffrey Royer, 39, as payment for his accessing the FBI's National Crime Information Center and Automated Case Support databases.

Royer is alleged to have recruited FBI agent Lynn Wingate, 34. Wingate, working from the FBI's field office in Albuquerque, New Mexico, continued the monitoring through April, after Royer left the FBI in December to work directly for Elgindy.

Prosecutors have brought racketeering, securities fraud and other charges against Elgindy, Royer, and Wingate, as well as Derrick Cleveland, 36, and Troy Peters, 40, both colleagues of Elgindy. The charges carry a maximum sentences of up to 20 years and fines.

Contact information for the accused or their lawyers could not be obtained immediately.

Federal authorities are also seeking to seize various Elgindy accounts, as well as cars including a Rolls Royce Bentley, a Jaguar, and a Hummer, and Elgindy's primary residence -- said to have been bought last year for $2.2 million, according to court documents.

"That both a current and a former FBI Special Agent are among the defendants in this investigation is particularly distressing to the thousands of men and women of the FBI," said Kevin Donovan, assistant director in charge of the FBI in New York, in a statement.

Copyright 2002, Reuters News Service

---------------------------------------------------


Reminds one of an old nursery rhyme (..modestly paraphrased..): "...Mary, Mary, quite contrary, how doth your [...portfolio...] grow.....

Betcha the aforementioned story will send a cool breeze up more than just a few skirts....!!! ( tee hee )


John

.

[jmhollen]

"...Oh deary me.......................

http://www.investorshub.com/boards/read_msg.asp?message_id=363379



:-0

.

[jmhollen]

Oh my..........................

[vam]

Thats an interesting story. I was thinking the following story may prove to be of interest in a general background of previous things that have happened:

http://www.washingtonpost.com/wp-dyn/articles/A44476-2002Feb8.html

but your's is much more relevant. the link above describes the schemes of people dating back to the late 1700's (William Duer )

[CoolBreeze]

To get things started, I've posted a shining example from one of the most despised scamsters on the internet. His outrageous cliams to holding a Directorship in this company suddenly became "not true" when this company was sued by several sources for securities fraud!

This poster won't even address this issue as the potential for liability and criminal enforcement has muted his arrogance. No small wonder!




By: REVESTER $$$$$23 Jan 2002, 10:36 AM EST Msg. 128969 of 128971
Know the enemy here... Here's a post by jmhollen on 6/27/99 where he explains his relationship with ECNC: By: jmhollen $$$$$ 27 Jun 1999, 12:44 PM EDT Msg. 554 of 506037 FYI: So that everyone knows what my current situation is, I am still a consulting(electrical/contract) engineer; and am currently supporting 12-hour shifts at a manufacturing plant in Illinois which needs to keep running efficiently until they transfer the production equipment to Canada. In addition, I serve as a Director for eConnect, initiating new relationships with companies who will be our worldwide partners in the same-as-cash PERFECT financial transfers business. Additionally, I support numerous stock threads to help get the ECNC-word out. I also assume tasks that would otherwise burden Tom, to keep him focused on building the business. In the immediate future, I will leave engineering and pursue my eConnect responsibilities full-time. http://ragingbull.lycos.com/mboard/boards.cgi?board=ECNC&read=554 Here are other posts where he represents himself as an ECNC Director: http://ragingbull.lycos.com/mboard/boards.cgi?board=ECNC&read=579 http://ragingbull.lycos.com/mboard/boards.cgi?board=ECNC&read=1248 http://ragingbull.lycos.com/mboard/boards.cgi?board=ECNC&read=1699 John M. Hollen was not listed as a Director, Executive Officer, Promoter or Control Person for ECNC in their filings. From the ECNC SB-2 6/1/1999 and unchanged in the amended document filed 7/2/99: DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS, AND CONTROL PERSONS The names, ages, and respective positions of the directors, officers, and significant employees of the Company are set forth below. There are no other persons which can be classified as a promoter or controlling person of the Company. Thomas S. Hughes, President/Director... [bios omitted] Jack M. Hall, Secretary/Director... Diane Hewitt, Treasurer/Director... Anthony L. Hall, Vice President, Director of Technology... Kevin J. Lewis, Vice President, Sports Book Operations... Over the next few months, James Wexler, will phase into the position as CEO of the Company. Presently, Thomas S. Hughes is fulfilling that role. Hughes will remain as the chairman of the Company once James Wexler has taken the CEO position. On March 23, 2000 the SEC issued Litigation Release # 16481 announced the filing of a complaint against Thomas Hughes and ECNC. http://www.sec.gov/litigation/litreleases/lr16481.htm The complaint alleges that since February 28, 2000, eConnect has issued false and misleading press releases claiming: (1) eConnect and its joint venture partner had a unique licensing arrangement with PalmPilot; and (2) a subsidiary of eConnect had a strategic alliance with a brokerage firm concerning a system that would permit cash transactions over the Internet. In fact, eConnect has no licensing arrangement whatsoever with Palm, Inc., and the "strategic alliance" is no more than a letter of intent between a brokerage and a joint venture partner of eConnect. The complaint further alleges that the fraudulent press releases, which were disseminated through a wire service as well as by postings on internet bulletin boards, caused a dramatic rise in the price of eConnect stock from $1.39 on February 28 to a high of $21.88 on March 9, 2000, on heavy trading volume. The Commission suspended trading in eConnect's stock on March 13. The very next day, on March 14, 2000, jmhollen was still signing RB posts as "Director of Corporate Alliances eConnect". http://ragingbull.lycos.com/mboard/boards.cgi?board=ECNC&read=55440 This was his last posting on the Raging Bull ECNC board. Here's a link to jmhollen's profile: http://ragingbull.lycos.com/mboard/memalias.cgi?member=jmhollen



From the magical fingers of............. CoolBreeze!