Whodunit? Two Stockbrokers Murdered in Jersey; No Clues Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Whodunit? Two Stockbrokers Murdered in Jersey; No Clues

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Janice Shell who started this subject	5/15/2004 11:29:25 AM
From: StockDung	Read Replies (2) of 1156

STOCK SCAM BUSTED BY SEC By PAUL THARP May 15, 2004 -- A penny-stock promoter who once handled a soured stock deal with former HBO chief Michael Fuchs was charged by the Securities and Exchange Commission with running bucket-shop scams. The SEC yesterday accused David Lee Stetson and three of his boiler-room brokers of executing pump-and-dump frauds on at least two penny stocks at the now defunct Donald & Co. in Garden City. Accused along with Stetson were: Steven Ingrassia, Slava Volman and Nicholas Antonelli. Stetson and Antonelli settled the charges by agreeing not to associate with brokers or dealers, and were permanently barred from offering any penny stock in the future. Charges are still pending against the other two. The stocks were Classica Group and eLEC Corp. The SEC said the group used "boiler room tactics and inflated price predictions" to bilk investors between 1999 and 2002. The group opened accounts without authorization, refused customer instructions to sell shares and took excessive commissions for themselves, the SEC charged. The SEC also issued cease-and-desist proceedings against Stetson, Ingrassia, Volman, and Antonelli. Stetson made headlines four years ago at Donald & Co. when a stock he promoted - MyTurn.com Inc. - collapsed and wound up leaving Fuchs on the hook, at one point, for as much as $6 million in losses. MyTurn.com filed for bankruptcy three years ago, and there is virtually no market for its 1.26 million shares, which were trading yesterday at .0001 of a cent on volume of 495 shares.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next