Yes I have heard of those. Usually the first person to point a finger already has three pointing back at them. Watch and learn fellow muckraking sister. You haven't seen the three books already written about Mr. Bernstein come out yet. Look for them soon under the pen name Alex S. Gabor, who also wrote "Confessions of a Sex Crazed Money Man!".
SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16163 / May 27, 1999
Securities and Exchange Commission v. Hartley T. Bernstein,
No. 99 Civ. 3885 (S.D.N.Y.)
ATTORNEY SETTLES CHARGES THAT HE PROFITED BY MORE THAN $500,000 FROM
ROLE IN LARGER MICROCAP SECURITIES FRAUD
The Securities and Exchange Commission ("Commission") today filed its
third civil action arising from the massive securities fraud that was
conducted through Sterling Foster & Co., Inc. ("Sterling Foster"), a
registered broker-dealer. In today's Complaint, which was filed in
federal court in Manhattan, the Commission charged an attorney with
fraudulently obtaining over $500,000 by selling securities shortly
after the initial public offerings ("IPOs") of five companies for
which the defendant's law firm acted as counsel.
Named in the Commission's Complaint is
HARTLEY T. BERNSTEIN ("Bernstein"), age 49, of Armonk, New York, who,
at the time of the transactions and events alleged in the Complaint,
was a partner in the law firm of Bernstein & Wasserman, LLP.
According to the Complaint
Bernstein acquired unregistered securities of Advanced Voice
Technologies, Inc. ("Advanced Voice"), Com/Tech Communications
Technologies, Inc.("Com/Tech"), Embryo Development Corp. ("Embryo"),
and Applewoods, Inc. ("Applewoods"), companies whose IPOs were being
underwritten by Sterling Foster, and of Perry's Majestic, Inc., a
company whose IPO was co-underwritten by VTR Capital, Inc. and
Investors Associates, Inc. ("Investors Associates"). The unregistered
securities of those issuers that Bernstein acquired were registered
along with the securities that were to be sold in each of those IPOs.
In all of the IPOs except Applewoods, Bernstein knew or was reckless
in not knowing that he would sell those securities at below-market
prices to one of the underwriters soon after the commencement of the
IPO. In the Applewoods IPO, Bernstein and Sterling Foster agreed that
Bernstein would sell his Applewoods securities to Sterling Foster,
through another broker-dealer, immediately upon the opening of the
first day of after-market trading. Bernstein's sales of securities to
Sterling Foster and Investors Associates provided those firms with a
Consider that post a sneak preview of the works! Part I, Part II and Part III.
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