AI
Tuesday, February 11, 2003 12:34:31 AM
I thought that some one the other day was talking about vfinance on this board...Read this last paragraph....
GENEVA, Jan 13, 2003 (BUSINESS WIRE) -- Margaux Investment Management Group S.A., the privately held, Geneva-based financial services firm recently appointed as advisor to FreeStar Technologies, Inc. (FSTI), today announced the identity of the individuals involved in orchestrating a major short position in FreeStar's stock during December 2002.
Carl M. Hessel, President of the Margaux Group, stated, "As mentioned in our press release last week, we have evidence that the short sellers have breached Rule 144 safe harbor provisions in their sale of approximately 8.8 million shares in December 2002, and failed to file Form 144 with the Securities and Exchange Commission. Notwithstanding our notice last week, the naked short position, which was initiated or compounded on December 10, 2002 does not appear to have been covered to date, which would indicate that the short sellers remain in clear contravention of NASD rules prohibiting the short sale of stock traded on the OTCBB."
Continuing, Hessel added, "It may interest the investing public to know that the individuals behind these short selling activities are affiliates of NASD broker dealer, vFinance, Inc. We have documented evidence showing the involvement of: David Stefansky, Richard Rosenblum, Marc Siegel, Boat Basin Investors LLC and Papell Holdings Limited (Boat Basin and Papell being offshore entities which may be under the control of Rosenblum or Stefansky).
JNelson
GENEVA, Jan 13, 2003 (BUSINESS WIRE) -- Margaux Investment Management Group S.A., the privately held, Geneva-based financial services firm recently appointed as advisor to FreeStar Technologies, Inc. (FSTI), today announced the identity of the individuals involved in orchestrating a major short position in FreeStar's stock during December 2002.
Carl M. Hessel, President of the Margaux Group, stated, "As mentioned in our press release last week, we have evidence that the short sellers have breached Rule 144 safe harbor provisions in their sale of approximately 8.8 million shares in December 2002, and failed to file Form 144 with the Securities and Exchange Commission. Notwithstanding our notice last week, the naked short position, which was initiated or compounded on December 10, 2002 does not appear to have been covered to date, which would indicate that the short sellers remain in clear contravention of NASD rules prohibiting the short sale of stock traded on the OTCBB."
Continuing, Hessel added, "It may interest the investing public to know that the individuals behind these short selling activities are affiliates of NASD broker dealer, vFinance, Inc. We have documented evidence showing the involvement of: David Stefansky, Richard Rosenblum, Marc Siegel, Boat Basin Investors LLC and Papell Holdings Limited (Boat Basin and Papell being offshore entities which may be under the control of Rosenblum or Stefansky).
JNelson
GOD grant me SERENITY to accept the thing I can not change COURAGE to change things I can and WISDOM to know the difference.
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