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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: mmmary who wrote (78852)7/10/2002 5:25:32 PM
From: Bob White  Read Replies (2) of 122087
 
For all the good it will do, here is but one of many references to the money (it is also in the court record if you care to look it up.)

FROM THE ARCHIVES: June 27, 2002


Federal Judge Says Elgindy 'Flight Risk'

By CAROL REMOND; DOW JONES NEWSWIRES; 201-938-2074; CAROL.REMOND@DOWJONES.COM

By Carol Remond
Of Dow Jones Newswires
NEW YORK -- A federal judge remanded short-seller Anthony Elgindy to jail Thursday pending further assurances that Elgindy would not flee.

"I think there is a risk of flight," Judge Raymond Dearie of U.S. Court for the Eastern District of New York said. "I am uncomfortable and I need a measure of comfort."

Among assurances requested by the judge before he considers releasing Elgindy are: the filing of financial statements for the suspect and his wife; an account of properties seized by the government; and assurances that about $650,000 held in cash and property by Elgindy in Lebanon could be secured and returned to the U.S.

Elgindy pleaded not guilty to securites fraud and racketerring last week. The government alleges that Elgindy and four other defendants, including two Federal Bureau of Investigation agents, used confidential information to pressure shares they were shorting and, in some cases, extort free or cheap stock from companies.

All other defendants in the case are out on bail.

Elgindy , who was previously represented by former prosecutor Sean O'Shea, has hired New York defense attorney Gerald Lefcourt.

Updated June 27, 2002 2:42 p.m. EDT
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