Banned.......Replies to the A@P thread. Message Board

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Strategies & Market Trends : Banned.......Replies to the A@P thread.

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To: Janice Shell who wrote (2113)	1/17/2005 8:48:03 PM
From: Taki	Read Replies (1) of 5425

Elgindy Was A Compliant Probationer - Probation Officers By Carol S. Remond Of DOW JONES NEWSWIRES 455 words 2 December 2004 13:53 Dow Jones News Service English (c) 2004 Dow Jones & Company, Inc. NEW YORK (Dow Jones)--Notorious short seller Anthony Elgindy's probation officers testified Thursday that he was a compliant probationer who submitted required documents. Elgindy is charged with securities fraud, market manipulation and extortion in the U.S. District Court for the Eastern District of New York. The government alleges that former FBI agent Jeffery Royer used FBI databases to gather information about small companies and their insiders, information that he would often share with Elgindy and others who used it to profit from selling short the stock of these companies. At the time of his arrest in May 2002, Elgindy was on probation for a 2000 mail fraud violation. Probation officers Mark Riedling and Laurie Bryant told jurors that Elgindy was submitting, as required by the terms of his probation, monthly statements about his contacts with law enforcement officers as well as financial statements about his bank accounts. Federal prosecutors alleged that Elgindy had furtive and illegal contacts with FBI agent Royer and other law enforcement officers and that he would use the non-public information he obtained from them to manipulate the stock of small companies. Responding to questions by one of Elgindy's lawyers, Riedling told jurors that the San Diego short seller would provide him with details about his contacts with law enforcement officers, including his dealings with agent Royer. Elgindy also provided Riedling with a copy of Royer's business card. Copies of monthly reports submitted by Elgindy to his probation officers show that he provided names and telephone numbers for his contacts as well as copies of the investment reports he published on his website. Elgindy would also provide his probation officers with information about investigations started by the FBI and the Securities and Exchange Commission as the results of information he said he provided to them. Bryant testified that Elgindy traveled to Lebanon in the fall of 2001 without proper authorization. But she said that when she asked Elgindy where he traveled to, he told her that he went to Egypt and Lebanon. The probation office had given permission to Elgindy to travel to Egypt where he was born. Bryant said Elgindy never told her he bought a house in Lebanon or that he transferred funds to Egypt and Lebanon. SEC lawyer Doug Gordimer is scheduled to testify after the lunch recess. Previous witnesses testified that Royer used his job as an FBI agent to gather information from SEC lawyers, including Gordimer, and that he would share that insider information with Elgindy and others. -By Carol S. Remond, Dow Jones Newswires; 201 938 2074; carol.remond@dowjones.com [ 12-02-04 1353ET ]

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