Whodunit? Two Stockbrokers Murdered in Jersey; Reference 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; Reference

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: jhild who wrote (52)	11/10/1999 12:21:00 AM
From: jhild	Read Replies (1) of 79

Re: September 4, 1999, A.S. Goldmen: Prosecutors overturn judge's ruling in Marchiano trial By GINA EDWARDS, Staff Writer In a victory for New York prosecutors, the five members of the federal Securities and Exchange Commission overturned a judge's ruling that criminal prosecutors said could jeopardize their stock fraud case against Naples brokerage A.S. Goldmen & Co. Prosecutors with the Manhattan District Attorneys office said they feared witnesses could be intimidated and coached to lie if a parallel SEC regulatory action was allowed to go forward at the same time as the criminal case. That's because under regulatory actions, defendants are allowed more liberal access to evidence and investigative files than in criminal cases. Prosecutors say some witnesses have expressed fears for their safety, in part because of a statement made by Naples brokerage owner Anthony Marchiano's lawyer. Marchiano's lawyer said Marchiano that was a victim of mob extortion. Naples millionaire Marchiano is accused of running a criminal enterprise that bilked investors around the country out of almost $100 million. Another 32 defendants linked to A.S. Goldmen were charged when the Manhattan DA unsealed indictments in July. If convicted, the 37-year-old Marchiano could face up to 25 years in prison on the most serious charges. The SEC complaint - which overlaps part of the criminal indictments - accuses Marchiano of running a "boiler room" in Naples where brokers made hundreds of calls a day to investors pitching stock in the fraudulent Stadium Naples golf development. Other allegations date back to 1994 and include misconduct involving initial public stock offerings orchestrated by Goldmen. The commission, which is chaired by Arthur Levitt, found on Thursday that the SEC has the power to delay an administrative action for good cause. The SEC gave the opinion in its order that the criminal case could be substantially prejudiced if the regulatory action continued at the same time. Such damage to the criminal case is not in the public interest, the SEC said. Marchiano's attorney, Wilmer "Buddy" Parker, claimed a partial victory saying that the SEC cautioned that prosecutors can't delay the administrative action indefinitely. The SEC said regulators with the SEC's Division of Enforcement must provide the administrative law judge with an update in 90 days about the progress of the criminal case. Parker said Marchiano doesn't plan to appeal the SEC's decision to federal court. naplesnews.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next