AP SITE MEMBERS:
THE ENTERPRISE
Between approx Nov 2000 and May 2002, both dates being approximate and inclusive, the defendants Elgindy, Royer, Cleveland, Peters and Wingate, together with Pacific Equity Investigations and certain subscribers to AnthonyPacific.com and others, were members and associates of an enterprise as defined in Title 18, USC Section 1961(4), that is, a group of individuals associated in fact (hereinafter, the "Enterprise").
That is very interesting. So, it appears that the government intends to include not only site employees but also members in the case, possibly bringing charges of aiding and abetting. Quite a can of worms is being opened in the courts - and here at SI as well.
I wonder if many here at SI are now considering that their illegitimate activities here and elsewhere may lead to somewhat more serious consequences than they imagined? The charges are for racketeering. This strikes me as a very serious criminal charge. I wonder if the dozens, if not hundreds, of individuals representing brokerage firms and/or chat sites here at SI have considered the wisdom of remaining silent about ongoing, organized illegal activities of which they are most certainly aware, if not directly involved?
Some important questions for all concerned Silicon Investor members:
1. How many chat sites have operated through Silicon Investor, soliciting members, issuing specific securities recommendations, and recording their claimed "track records" here?
2. How many brokerage firms, and their employees, both licensed and unlicensed, have operated through Silicon Investor, soliciting clients, making specific claims relating to execution of stock trades and the success of their clients and recommending, either through direct endorsement, or through implied endorsement, that these clients trade through brokerage-affiliated chat sites operating threads here on this website?
3. As Silicon Investor is a "monitored" site, where statements and member privileges are strictly controlled by site administrators, what is the legal responsibility of Silicon Investor and its parent, InfoSpace, Inc., for potential violations of the law at this website?
4. Has Silicon Investor aided and abetted illegal acts here?
These are important questions. Here are a few answers:
1. The brokerage firm Terra Nova Trading was a longtime "sponsor" of the Silicon Investor "Hot Subjects," until last summer, when serious questions were raised by many longtime members about the integrity of those lists.
2. Terra Nova Trading-affiliated chat sites were routinely listed at the very top of that list.
3. Brokerage firm and site employees were rarely if ever disciplined by SI Admin for flagrant violation of SI's own stated anti-advertising rules.
4. SI members, on the other hand, who questioned the activities of brokerage firms and chat sites here were singled out for disciplinary action, routinely and repeatedly being silenced, having their membership privileges suspended and/or revoked.
5. CyberCorp. and Terra Nova Trading solicited hundreds, if not thousands, of clients at Silicon Investor, both directly through threads they themselves established, threads their affiliated-chat sites established under brokerage firm supervision and through countless surrogates.
SI members, especially day traders, who have information concerning these and other activities, please contact me at:
ollie@stock-operators.com
Legal action is forthcoming. You may read further about that here:
Subject 51389
and here:
nytimes.com |
