InvestorsHub Logo
Followers 0
Posts 941
Boards Moderated 0
Alias Born 04/26/2004

Re: None

Thursday, 11/03/2005 5:38:51 PM

Thursday, November 03, 2005 5:38:51 PM

Post# of 5729
OT Fraudulent Stock Article

To: info@FaulkingTruth.com
Subject: We Definitely Aren't in Kansas Anymore - Fraud Wall Street Style
Date: Thu, 03 Nov 2005 08:06:14 -0800

http://www.faulkingtruth.com/Articles/Investing101/1042.html

(Editor's note: This Saturday, Nov. 5, from 4 to 6 PM CST, I will be
appearing on the radio talk show Left Hook with Bryan Kerr and Wendi
Elliot, on Supertalk 930 AM WKY in Oklahoma City. We will discuss, among
other things, the escalating stock market scandal, the possibility of a
coming war in Iran, and the legalization/medical marijuana issue. If
you're in the area, tune us in (and call us to voice your opinion), or
listen to it live on the internet at http://www.lefthookradio.com/ A
podcast will also be available on that website from Tuesday, Nov. 8 to
Saturday, Nov. 12.)

We Definitely Aren't in Kansas Anymore - Fraud Wall Street Style
By Bob O'Brien
Nov. 3, 2005

Folks, it couldn't get any weirder.

I was talking with our friend Dr. Byrne, and he told me a story that
defies imagination. I honestly thought he was pulling my leg - had one of
those double take moments, where you have to shake your head to confirm
you're awake. Before I tell you the gist of this, let me send out a
little tidbit to any regulators reading this - I urge you to contact Dr.
Byrne for corroboration. I couldn't make this up if I tried - nobody
would believe it.

First, there is the matter of Jack Byrne's 200K share purchase of OSTK,
which is now closing in on 90 days since the order was executed.

Jack got 130K "registered in his name" with his broker (who knows what
that means - I mean, who really knows what any of the arcane
terminology really signifies at day's end?) recently, but he hasn't received the
other 70K shares, and his broker is telling him they've been
unsuccessful in getting the shares from JP Morgan (the seller's broker - and
arguably the most venerated name on Wall Street), and that there is no ETA
for their delivery.

That is seventy THOUSAND shares bought and paid for almost a quarter
year ago, undelivered. And Byrne's broker hasn't bought in the offending
seller. Just hasn't.

Before we continue, stop and reflect upon this set of circumstances -
the Chairman of the Board of the company can't get $2.5 million worth of
stock that he bought and paid for - and yet there is relentless selling
pressure day after day. For months the stock price has been pummeled,
and yet for months the buyer's broker can't get the product that was
sold.

To add insult to injury, apparently Dr. Byrne's brother bought 50K
shares almost a month ago, and he hasn't gotten his shares delivered
either. So it isn't just dad. The performance of the system has been tested
multiple times, and nobody can get any shares delivered to make good on
the buys - but that hasn't stopped the brokers from relentlessly
continuing to sell that which doesn't exist.

To read the rest of this article, go to:
http://www.faulkingtruth.com/Articles/Investing101/1042.html

Also, be sure to read Dave Patch's latest articles on this subject at:
http://www.investigatethesec.com/

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.