SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Boquacious who wrote (88622)12/7/2004 11:07:15 AM
From: peter michaelson  Read Replies (3) of 122087
 
=DJ Witness Says He Got Confidential Info From Elgindy Site


By Carol S. Remond
Of Dow Jones Newswires

(This article was originally published Monday)

NEW YORK (Dow Jones) -A former member of Anthony Elgindy's investing
Web site testified Monday that he received confidential information
from other members.
Minnesota insurance agent Donald Kent Terrell told jurors that he
received information about companies and insiders that he knew came
from the Federal Bureau of Investigation or the Securities and
Exchange Commission.
Terrell was charged earlier this year and pleaded guilty to
conspiracy to commit securities fraud. Terrell is helping the
government make its case that Elgindy, former FBI agent Jeffrey Royer
and others conspired to use confidential information to sell short the
stock of small companies.
Terrell told jurors that he received inside information from Derrick
Cleveland, another defendant in the case who pleaded guilty to
conspiracy to commit securities fraud, and from Elgindy's private
investment Web site.
Terrell said that he knew it was illegal to trade on that
information but that he did because he thought it was very valuable.
Terrell, who used the alias Quack on Elgindy's Web site, said he wired
$2,000 to Cleveland in November 2001 and said that his understanding
was that the money would be used to keep FBI agent Royer happy.
Cleveland testified in court that he solicited money from Terrell but
that he never shared it with Royer.
The prosecution is expected to conclude its presentation Tuesday.
After that the defense will start calling witnesses.
Elgindy, Royer and others are charged in the U.S. district Court for
the Eastern District of New York with securities fraud, market
manipulation and extortion. The government alleges that they used
confidential information illegally obtained by then FBI agent Royer to
target small companies.
-By Carol S. Remond, Dow Jones Newswires, 201-938- 2074;
carol.remond@dowjones.com

(END) Dow Jones Newswires
12-07-04 0732ET
- - 07 32 AM EST 12-07-04

--------------------
TAL News Server History:
ADD : 04/12/07 07:32
PARTIAL REPLACE : 04/12/07 07:41
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News