News Out!!!
It looks like we are in for more than a week or so. I would say weeks, if lucky and probably months or another life!
Armand
-- =DJ Uniprime CEO Says He Has Been Subpoenaed By SEC --
By Rick Jurgens
PHOENIX (Dow Jones)--The top executive of Uniprime Capital Acceptance Inc.
(UPCA), which saw its stock soar last week after it made an AIDS treatment
claim, said he has been subpoenaed by the Securities and Exchange Commission.
Gary Tabb, Uniprime's chief executive, told Dow Jones Newswires he has been
ordered to provide documents to the SEC by Wednesday and appear at the SEC
office in New York City on Friday.
Tabb declined to provide a copy of the subpoena until he consulted with his
lawyer.
An SEC spokeswoman said that as a matter of policy she could neither confirm
nor deny that an investigation of Uniprime was under way.
But the SEC suspended trading in Uniprime stock after the market closed
Wednesday, and such investigations typically follow trading suspensions. The SEC
acted after shares in Uniprime, which was listed on the over-the-counter
bulletin board, had shot up to 7 15/16 Tuesday on volume of 5.2 million shares,
compared with average volume of 84,000 shares. The previous high of 1 15/32 came
in June after an earlier company release on the AIDS treatment.
Tabb said the company believes the treatment had "reversed" but not "cured"
the HIV virus in AIDS patients. He said he had wired $2,500 to Spain to pay for
the reproduction of records of tests of the new treatment. He said when an
expected 16-pound shipment of documents arrives at his company's office, he
would allow them to be reviewed by "anybody."
Tabb said his main focus now is on documenting the identity of Alfred Flores,
the researcher who supposedly developed the treatment. "All I'm trying to prove
is that the guy is real, he's not phony," Tabb said. "He's not a big medical
doctor or nothing like that, but he's real."
Flores was not immediately available for comment.
- By Rick Jurgens; 602-258-2003;
richard.jurgens@cor.dowjones.com
(END) DOW JONES NEWS 07-26-99
01:46 PM- - 01 46 PM EDT 07-26-99
Symbols:
US;UPCA
Source DJ - Dow Jones
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