Posted on today's Microsoft home page under the news items featuring stock scams. Looks like the cast of characters never change.
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Louis P. Sitaras, of Jupiter, Fla., illegally posted an offer to sell 2,000 shares of Metropolitan Health Networks, a health-care services company. Although MHN stock trades on the OTC Bulletin Board, the shares Sitaras offered to sell were restricted and could not be offered for sale publicly until September 1999. While no one bid on Davis' stock, both Hoff and Sitaras received several bids. No sales were completed, however, before the SEC intervened.
"The securities laws ensure that investors have access to reliable, accurate information about a security prior to making an investment decision," said Helane L. Morrison, district administrator for the commission's San Francisco district office. "These laws apply in cyberspace, just as they do elsewhere."
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