Here is something interesting from the NASDR regulatory compliance site, showing disciplinary actions through the end of July, 2001. This is a complaint filed last month. For those who care, Amr Elgindy is otherwise known in these parts as Anthony@Pacific:
"Key West Securities, Inc. (CRD #38305, Cardrift By The Sea, California) and Amr Ibrahim Elgindy (CRD #1824634, Registered Principal, Colleyville, Texas) were name as respondents in an NASD complaint alleging that the firm, acting through Elgindy, engaged in a manipulative, deceptive, and fraudulent scheme involving the trading of a security by obtaining money, selling the security short at higher manipulated prices, and then attempting to cover the short position at a lower price by causing the price of the security to drop through the dissemination of deceptive sell recommendations about the security. The complaint further alleges that, in furtherance of the scheme, and in an attempt to profit from the security's short position, the firm, acting through Elgindy, disseminated, or made generally available to customers or the public, a report concerning the security in which the firm initiated coverage of the security with a sell recommendation. The complaint alleges that the report was deceptive in that the respondents failed to disclose that the firm was registered as a market maker and held a proprietary short position in the security. The NASD alleges that by this conduct, the firm, acting through Elgindy, by the use of means or instrumentalities of interstate commerce, to wit, the Nasdaq System and news wire services, intentionally and recklessly effected transactions in, and induced the purchase and sale of a security by means of manipulative, deceptive, and other fraudulent devices or contrivances. (NASD Case #CMS000015)"
Hmmmmm.
MST |
