Re: Barry Witz (continued)
[Thanks to Kerry]
To continue on, another name you mentioned was Barry Witz. Barry is also a familiar name in the seamy world of penny stocks.
Barry is apparently known to the SEC as well. Indeed, he claims to have worked for them at one time...
sec.gov
BARRY WITZ, was appointed Chairman of the Board of Directors of the Company on January 28, 1995. Mr. Witz is focused on turn-around situations, in which he can bring his financial and legal expertise to assist in financial restructurings, recapitalizations, mergers and acquisitions. Mr. Witz has acted as an attorney for the United States Securities and Exchange Commission, he has been an officer of the New York Stock Exchange, and was a Senior Partner in the law firm of Arvey, Hodes, Costello, Berman, Wood, Luckinger and Epstein. Since 1994, he has been Chairman of the Board, Director, CEO and President of Brite Lite Industries, Inc., a privately held company.
Christopher Byron on MSNBC apparently wrote one of his nice articles regarding Osicom stock, with which Witz was associated, but alas, the article has expired and may no longer be available. So I'll include the search "teaser" as a reference...
Ups and downs of Osicom 6;s stock
By Christopher Byron MSNBC CONTRIBUTOR JAN. 13 1; Our story begins at the start of 1995 when Osicom, then selling for barely $7 per share, had begun using a fellow named Robert J. Raffa to promote its stock to the ....
msnbc.com
Remember that wonderful Chop Stocks article that appeared in Business Week a couple of years ago? Well Barry had an honorable mention in it, but he didn't want to comment...
businessweek.com
In another taped conversation, Belfort made a startling disclosure. According to Belfort's taped account, a company called Builders Warehouse Association Inc.--which since has become a unit of Osicom Technologies Inc.--once offered him a huge bribe in return for Stratton selling the stock. Said Belfort: 'This guy came to me, this...kid from Utah came to me....He offered me three shares in Switzerland for every share I sold....I had like 500 brokers,' Belfort continued. 'I could have sold a zillion shares.' Belfort declined to discuss the alleged bribe offer. Osicom and Barry Witz, former chief executive of Builders Warehouse, did not respond to requests for comment.
Posters on SI knew about Barry. Many of them bought into the schemes or unwittingly promoted them...
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An early warning from an astute poster...
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Moma Bear most certainly knew the truth...
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Even after an apparently negative article in Barron's, some folks keep the faith...
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Oh how easy it is to deceive those gamblers who so easily set themselves up to be deceived... Sure wish I could find a copy of both of those Barron's articles. Keep looking I guess... |
