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Strategies & Market Trends : Anthony@Equity Investigations,Trade picks

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To: Kirk © who wrote (251)	5/23/2002 10:01:11 AM
From: Kirk ©	of 255

Here is why: Prosecutors charged agent Lynn Wingate and Jeffrey Royer, a former agent who quit in December, with lifting damaging information on public companies from confidential FBI databases and giving it to trader Amr "Tony" Elgindy. Elgindy, the alleged mastermind of the scheme, profited from the leaks by "shorting" the stocks of the targeted companies through a Canadian brokerage firm. He then launched smear campaigns via Internet sites he ran in an attempt to drive the stock prices down and inflate his profits. (In a short sale, an investor sells borrowed stock with the hope of buying it back later at a lower price.) usatoday.com

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