Five and Under

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ECNC, more stock fraud. LOL The biggest scam in OTCBB history IMO.





Tuesday August 7, 3:27 pm Eastern Time
Press Release
SOURCE: David Greenstein
Individual Investors File Personal Federal Lawsuit Against eConnect & Thomas Hughes Regarding Alleged Stock Fraud
LOS ANGELES, Aug. 7 /PRNewswire/ -- David Greenstein, a former California attorney and a Civil Litigation Paralegal for over 30 years, announced today he filed an individual action in the U.S. District Court in Los Angeles against eConnect (OTC Bulletin Board: ECNC - news), Thomas Hughes, and several eConnect officers and associates based upon violations of Federal Securities Law. The suit is similar to the Class Action suits filed against eConnect and its principals by the SEC respecting activities of eConnect, Thomas Hughes and others alleged to have been involved in the publication of false and misleading Press Releases causing loss to investors in the millions of dollars. The SEC, after investigation, filed a complaint against eConnect and others for SEC law violations based on fraud.

Mr. Greenstein said, ``We opted out of the Class Action Settlement because it gives defrauded stockholders essentially nothing. After talking with one SEC attorney involved in the case and two of the Class Action attorneys, I found the matter was settled because eConnect says it has no money to pay or insurance to cover a potential multi-million dollar judgment. It appears, though, the individuals involved do have property to satisfy judgments which based on fraud, cannot be discharged in bankruptcy. We're looking to get back what we lost due to the fraud and to possibly help other investors, some of whom lost their life savings. I understand stocks, especially in small cap companies, are a gamble. If I lose in a stock gamble, so be it, but if the house rigs the game against me, then it's not a loss I will assume quietly. Anyone can sue as I did without an attorney if they opt out of the Class Action settlement before August 27, 2001.''

Mr. Hughes is also a Director of Kanakaris Wireless, having been appointed after the SEC halted trading in eConnect stock.``

An informational website has been set up at http://home. earthlink. net/~enterprise/ econ to let other investors find how they may be able to recover their losses.

A special e-mail address ([e-mail]) has been set up for anyone wishing more information.

Mr. Greenstein encourages eConnect investor to check the website out for his/her own benefit.

SOURCE: David Greenstein