"Elgindy Jury Looks Into Evidence Of Payment
online.wsj.com
January 20, 2005 11:43 a.m. EST
By CAROL S. REMOND
Of DOW JONES NEWSWIRES
NEW YORK -- After reviewing evidence relating to insider trading and extortion charges, jurors in the case against Anthony Elgindy and Jeffrey Royer seem to be trying to decide whether Royer was corrupt.
Short-seller Elgindy and former Federal Bureau of Investigation special agent Royer are charged in U.S. District Court for the Eastern District of New York with securities fraud, extortion and obstruction of justice.
In their third day of deliberation Thursday, jurors asked to review testimony and evidence relating to checks and wire transfers between Royer and Derrick Cleveland.
Cleveland was also charged in the case. He pleaded guilty to conspiracy to commit securities fraud and is cooperating with the government. Cleveland testified in court that he had a financial arrangement with Royer under which they agreed to share 50/50 any trading profits generated by information provided by the FBI agent. Royer has denied the existence of such a deal.
Jurors also asked to review the testimony of Kristy Sarkey, an ex-girlfriend of Royer and a former FBI analyst who testified about the 50/50 arrangement between Royer and Cleveland.
In addition, jurors requested the transcript of the testimony of FBI special agent Raymond Gonzales. Gonzales interviewed Royer before he left the bureau in December 2001. During that interview, Royer told Gonzales that he planned to go work for Elgindy in San Diego. But Royer told Gonzales that he never shared confidential information with Elgindy.
Royer testified in court last month that he did in fact share confidential information with Elgindy and Cleveland but that it was only for the purpose of getting more information from them.
-By Carol s. Remond, Dow Jones Newswires; 201-938-2074"
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Was Royer corrupt?
Was Royer following the lead he found while investigating Hamas during his investigation into that organization while he was working on an Indian Reservation in New Mexico? (sounds like an interesting movie)
The Hamas investigation led Royer to the professor named Elgindy who lived in Chicago, who was linked to providing zakat funds to Hamas from the U.S.; this in turn led Royer to the son named Elgindy who works in the White House, which in turn again led him to another son, the stockbroker in San Diego who also shared the name; Elgindy.
Could Royer then have thought that with so many connections to 'big money' the stockbroker, Elgindy, could help him get out of the financial hole he found himself in?
Stay tuned folks!
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