Francois Goelo got me suspended from raging bull for posting information about Allen Wolfson on the ragingbull CYAA CYBERAMERICA CORP message thread. It was announced on June 14, 2000 that Wolfson was mentioned in the SEC sting operation
b. Wolfson Proceeding
The Division charges that from January 1999 through at least March 2000,
Allen Z. Wolfson fraudulently inflated the stock prices of
BeautyMerchant.com (formerly known as ATR Industries, Inc.), Learner's
World, Inc., Rollerball International, Inc., Healthwatch, Inc. and HYTK
Industries, Inc. The Division alleges that in connection with these
manipulations, Wolfson obtained control of large blocks of shares, caused
sham trades to be made to give the appearance of an increasing demand for
the shares in the market, paid bribes to six brokers to create demand, and
sold into that demand. The six brokers are also being charged today for their
roles in the manipulation. The Division contends that the respondents received
at least $7 million in illicit profits from these manipulations. |
