Re: 6/27/02 - Dow Jones: Judge Remands Elgindy to Jail; AP: Judge tells Elgindy to produce financial records
-Judge remands Elgindy to jail.
DJ Short-Seller Elgindy -2: Judge Looking For Assurances
By Carol Redmond
Of Dow Jones Newswires
NEW YORK (Dow Jones)--A federal judge remanded short-seller Anthony Elgindy to jail Thursday pending further assurances that Elgindy would not flee. "I think there is a risk of flight," Judge Raymond Dearie of U.S. Court for the Eastern District of New York said. "I am uncomfortable and I need a measure of comfort."
Among assurances requested by the judge before he considers releasing Elgindy are: the filing of financial statements for the suspect and his wife; an account of properties seized by the government; and assurances that about $650,000 held in cash and property by Elgindy in Lebanon could be secured and returned to the U.S.
Elgindy pleaded not guilty to securites fraud and racketerring last week. The government alleges that Elgindy and four other defendants, including two Federal Bureau of Investigation agents, used confidential information to pressure shares they were shorting and, in some cases, extort free or cheap stock from companies.
All other defendants in the case are out on bail. Elgindy, who was previously represented by former prosecutor Sean O'Shea, has hired New York defense attorney Gerald Lefcourt.
(END) Dow Jones Newswires
Thursday, 27 June 2002
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Judge tells Elgindy to produce financial records
Thu Jun 27,10:14 PM ET
NEW YORK - An Egyptian-born financial analyst accused of using confidential FBI ( news - web sites) information in an inside-trading scheme will remain behind bars until he produces records showing the extent — and whereabouts — of his wealth, a judge ruled Thursday.
At a hearing in federal court in Brooklyn, U.S. District Judge Raymond Dearie told attorneys for Amr I. "Tony" Elgindy, 34, of San Diego, he wanted to review the financial records before he would consider their request for bail.
Prosecutors allege that the defendant secretly shifted at least dlrs 625,000 overseas in preparation to flee the country — a charge his attorneys deny.
"There's too many questions here that give me an unsettled sense of this," the judge said.
Prosecutors allege that Elgindy paid two FBI agents to use confidential databases to provide him and other co-conspirators with information on publicly traded companies.
story.news.yahoo.com |
