Congratulations to FSTW longs...you deserve it. I haven't been around this chat for awhile, since the first run up to about 9.
PS - roger - ctxs has made me rich...remember those days..congrats to you and Hank on FSTW. It only takes one oil well.
The last time I was here, I remembered a name (poster) See Post #1416
And look at this;
A Popular Internet Poster
Pleads Guilty to Mail Fraud
By AARON ELSTEIN
THE WALL STREET JOURNAL INTERACTIVE EDITION
A self-styled investment guru who has gained a wide following on the Silicon Investor stock-chat site posting stock information under the alias Anthony@Pacific has pleaded guilty in an insurance fraud scheme.
Amr Ibrahim Elgindy, 32, was accused of fraudulently collecting $55,366 in disability income benefits on a personal policy from Massachusetts Mutual Life Insurance Co. between May 1994 and February 1995 while continuing to work.
He pleaded guilty to one count of mail fraud last Wednesday as part of a deal in which federal prosecutors in Fort Worth, Texas, dropped an additional eight charges against him.
Mr. Elgindy faces up to five years imprisonment and a fine of up to $250,000. He is free on bond until his sentencing, which is scheduled for May 15, said David L. Jarvis, an assistant U.S. attorney in Fort Worth.
Mr. Elgindy didn't immediately return a telephone message left Wednesday on an answering machine at his Del Mar, Calif., investment company, Pacific Equity Investigations. His lawyer, Jeff Kearney, didn't immediately return a phone call.
The charge to which Mr. Elgindy pleaded guilty involved a $7,550 benefit check he received from Massachusetts Mutual Life in July 1994 while he was a stockbroker at Bear, Stearns & Co.
Mr. Elgindy runs a message board on Silicon Investor (www.siliconinvestor.com) called Anthony@Equity Investigations, where he and other participants discuss stocks they think will fall. He has cast himself as a watchdog of online stock-promotion schemes and has attracted a large following of investors.
Mr. Elgindy, who was the subject of a profile in The Wall Street Journal, was enmeshed in a controversy last August that resulted in his expulsion from Silicon Investor. The stock-chat site restored his membership after holding a referendum among its members.
The government alleged that in August 1993 Mr. Elgindy requested disability benefits from Massachusetts Mutual Life, claiming he was "emotionally unable to continue performing his duties as a stockbroker" at AMR Securities Inc., an Irvine, Calif., brokerage firm, where he was president and director of trading. He started receiving checks of $7,550 per month in October or that year.
Less than one month later, Mr. Elgindy started looking for work in the securities business, and in May 1994 he became a stockbroker in Dallas for Bear Stearns, receiving a salary of $30,000 per month.
He was "terminated" by Bear Stearns two months later, according to the government, and in September 1994 got a job with Barron Chase Securities Inc. He continued to receive disability payments because he maintained that his "mental condition was unchanged, that he had not performed any work ... and remained totally unable to work," the government charged.
Write to Aaron Elstein at aaron.elstein@wsj.com |
