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Microcap & Penny Stocks : ProNetLink...PNLK...Click here to enter

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To: Malko who started this subject	8/17/2004 12:36:59 PM
From: StockDung	of 40688

.ProNetLink exec pleads guilty to stock fraud August 16, 2004 crainsny.com The CEO of the now-defunct company faces up to five years in prison for hiding his stock ownership and hyping shares. The CEO and founder of ProNetLink Corp., a now-defunct Internet company, pleaded guilty to fraud charges Monday in Newark federal court. Jean Pierre Collardeau faces up to five years in prison. ProNetLink, which filed for bankruptcy in 2001, was based in Manhattan and operated a business-to-business e-commerce Web site. Prosecutors charge that Mr. Collardeau and eight associates reaped more than $20 million in illicit profits by concealing their ownership of ProNetLink stock, and then hyping the shares on the Internet and selling them to investors through Canadian brokerages. Authorities named Marc Rousso and Philippe Hababou as co-conspirators in the case. The two men had previously pled guilty to stock fraud charges involving a series of penny stocks. Mr. Habaou also pleaded guilty in 2000 to charges stemming from an illegal contribution he made to the 1996 U.S. Senate campaign of Robert G. Torricelli. The resulting scandal led Mr. Torricelli to quit the 2002 race.

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