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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: SiouxPal who wrote (86797)5/24/2004 8:11:36 AM
From: Dale Baker  Read Replies (1) of 122087
 
Elgindy Securities Fraud, Racketeering Trial Moved To Sept

By CAROL S. REMOND
May 3, 2004 12:17 p.m.

Of DOW JONES NEWSWIRES
NEW YORK -- The trial of shortseller Anthony Elgindy has been postponed until September, according to an order signed by federal judge Raymond Dearie.

Elgindy was charged with securities fraud and racketeering in May 2002 in the U.S. District Court for the Eastern District of New York. He stands accused of using confidential government information to manipulate the shares of small companies and to have used that information to extort stock from the companies he targeted. His trial was scheduled to start on June 1.

Also charged in the case are two former Federal Bureau of Investigation agents, Jeffrey Royer and Lynn Wingate; two traders, Troy Peters and Derrick Cleveland; a fund manager, Jonathan Daws; and Elgindy 's Web master, Robert Hansen.

Cleveland has pleaded guilty to racketeering and Hansen has pleaded guilty to one count of conspiracy to commit securities fraud. Both are cooperating with the government.

Elgindy had been out on a $2.5 million bail while awaiting trial. But he is now back in jail, his bail having been revoked last month after he was arrested trying to board a plane using false identification.

-By Carol S. Remond, Dow Jones Newswires; 201-938-2074; carol.remond@dowjones.com
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