Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote (64251)	12/7/2000 9:32:27 PM
From: StockDung	of 122087

Mistrial Declared in Stock Fraud .c The Associated Press NEW YORK (AP) - The Brooklyn federal court trial of an accountant charged in a $100 million stock fraud case has ended with a hung jury. U.S. District Judge John Gleeson declared a mistrial Thursday after nearly two weeks of deliberations. The 12-member jury had sent the judge a note saying it was hopelessly deadlocked. Gleeson agreed to let prosecutors retry the defendant, Dennis Gaito, in April. ``We fully intend to prosecute (Gaito) on all counts in the indictment,'' said Assistant U.S. Attorney Daniel Alonso. Gaito's attorney, Ronald Fischetti, said his client was ``not pleased with the result. ... He thought he would be acquitted. But he's ready to go to trial a second time.'' The defendant was an accountant for Stratton Oakmont Inc., a defunct boiler-room brokerage on Long Island which authorities say cheated investors out of at least $100 million during the 1990s. Prosecutors built their case around the testimony of Stratton founder and admitted swindler Jordon Belfort. In a bid to avoid a 30-year prison term, Belfort pleaded guilty last fall and agreed to testify against Gaito. Belfort claimed Gaito cooked the firm's books and sought to channel ill-gotten gains into a bogus holding company and overseas bank accounts. The jury heard tapes, secretly recorded by Belfort, in which Gaito could be heard allegedly plotting their schemes. Fischetti told jurors his client ``never knew the money was stolen.'' He also attacked Belfort and his former partner, Daniel Porush - also a cooperating witness - calling them shameless con men who would go to any extreme to satisfy their greed and avoid prison. AP-NY-12-07-00 2101EST

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