Anthony was this a misprint!??
North County's brash Internet stock commentator, Amr Ibrahim (Anthony)
Elgindy, who boasts that he is on the prowl for fraudulently promoted
stocks, has pleaded guilty to mail fraud in Texas.
Jarvis says that Elgindy will remain on bond until his sentencing hearing
May 15.
The Texas case charges that Elgindy fraudulently overstated his income by
around 100 percent to bilk an insurer, MassMutual, out of $55,366 in
disability payments. Elgindy says he was in severe depression at the time.
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Excerpt: Disciplinary Actions Reported For November NASD Regulation, Inc. (NASD RegulationSM) has taken disciplinary actions against the following...
Amr [aka "Tony"] I. Elgindy (Registered Principal, Colleyville, Texas) submitted an Offer of Settlement pursuant to which he was fined $30,000, suspended from association with any NASD member in any principal capacity for one year, suspended 0.87 from association with any NASD member in any capacity for 30 days, and required to produce a copy of his member firm's implemented written supervisory procedures specifically with respect to overseeing his activities to deter and detect a recurrence of the conduct alleged in the complaint. Without admitting or denying the allegations, Elgindy consented to the described sanctions and to the entry of findings that he caused his member firm to execute 108 orders through SOES for the firm's account. The findings also stated that Elgindy caused his member firm to enter non-bona fide orders through the SelectNetSM System for the firm's account that were either timed out or canceled by Elgindy before they could be executed. Furthermore, the NASD found that Elgindy caused trades reported to ACT to be canceled by failing to acknowledge or confirm such trades. The NASD also determined that Elgindy failed to ensure that his member firm establish, maintain, and enforce supervisory procedures that would have enabled the firm to deter and detect the above conduct.
May 15th is nearing!
Kimberly |
