You think Juan's embarrassed himself with this post ? Probably not...but he was wrong as you can see.
To: +s martin (479 )
From: +Juan Dominguez Jun 14 1997 2:42PM EST
Reply #480 of 651
Wrong, wrong, wrong again and alllll WRONGGGG, smartin.
SGA Goldstar has not or ever has taken money from companies in order to promote them. My colleagues have recieved SGA's reports for 12 years now and have enjoyed their unbiased reports.
For those are you out there who want to be able to pick "hotline" services that are not "company" supported there are always several things to look at:
1)Securities and Exchange Commission regulations require that all research or "hotline" investing or trading services such as SGA GOLDSTAR, to clearly specify at the end of each report on a company the extent of their "monetary" arrangement. (For example, if XYZ company paid ABC Market Promotion HOTLINE $5,000 for puting out a research report on XYZ along with a BUY recommendation, Then ABC Market Promotion HOTLINE has to clearly state, at the end of the report, that they are being paid $5,000 by XYZ to recommend their company. ITS THATS SIMPLE AND ITS SEC LAW! SGA GOLDSTAR HAS NO SUCH DISCLOSURES BECAUSE THEY DO NOT ACCEPT PROMOTION MONEY FROM COMPANIES. THEIR MEMBERSHIP BASE CAN BE ASSURED OF UNBIASED ANALYSIS.
2)Most "hotline" type companies that accept payments from companies providE the "Hotline services" free to all investors, either with a free FAX service and/or a free internet cite. SGA DOES NOT HAVE A FREE WEBSITE AND MEMBERS HAVE TO PAY A PRETTY HEFTY PRICE TO BECOME MEMBERS.
Again, nice try Smartin, in trying to TWIST the facts.
OH, and by-the-way, SGA Goldstar was cleared of all wrong-doing by the SEC.
From the SEXI thread:
To: +peter gucker (12029 )
From: +Urlman Sep 12 1997 8:39PM EST
Reply #12030 of 12043
Hi Pete, Mike & All ***SEC v. CHARLES HUTTOE, ET AL.,; U.S. v. THEODORE MELCHER, JR.
The Commission announced that Theodore R. Melcher, Jr. (Melcher),
publisher of SGA Goldstar Whisper Stocks, a daily stock newsletter
disseminated over the internet, was sentenced to a prison term of 12
months followed by two years supervised release and a $20,000 fine.
Melcher had pled guilty to an information charging him with
securities fraud for his conduct in publishing favorable commentary
upon and recommending the purchase of Systems of Excellence, Inc.
securities. The information alleged that Melcher received 250,000
shares of SOE stock in exchange for his recommendations, a fact he
did not disclose, and that he sold his stock while recommending that
his subscribers purchase. On November 7, 1996, the Commission filed
a complaint against Melcher and others based on a complaint alleging
a massive securities fraud at SOE. On January 21, 1997 the
Commission amended its complaint to allege that Melcher
systematically published favorable coverage of other issuers in
exchange for compensation, without disclosing that fact. The
criminal case against Melcher was the result of a coordinated
investigative effort by the Commission, the U.S. Attorney's Office
for the Eastern District of Virginia and the Internal Revenue
Service - Criminal Investigation Division from Northern Virginia and
Las Vegas, Nevada. [SEC v. Charles O. Huttoe, et al., Civil Action
No. 96-02543, GK, D.D.C.] [U.S. v. Theodore R. Melcher, Jr., Cr. 97-
244-A, AVB, ED VA] (LR-15490)
SOURCE: sec.gov |
