Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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From: Jeffrey S. Mitchell	9/10/2005 5:35:54 AM
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DEFIANT ELGINDY SEEKS TO KEEP HIS LOOT By RODDY BOYD September 10, 2005 -- Amr "Anthony" Elgindy, the most infamous dot-com era stock trader, filed papers this week contesting the Feds' demand that he forfeit $12 million of his ill-gotten gains. Elgindy was convicted in January of parlaying illegal information from former FBI special agent Jeffrey Royer into millions of dollars worth of gains. He took sensitive information from criminal inquiries and shorted the stocks of companies under investigation. Elgindy aggressively posted negative publicity — often false — across numerous message boards and Web sites to help drive the price of the stocks he and a few of his colleagues targeted. He faces a 20-year sentence and is being asked to forfeit $12 million. Elgindy's defense lawyers argue that the sum total of his illegal trading was $71,000, which included $30,000 in fees he charged subscribers to his site. They also claim that Elgindy's actions were justified in part because he believed the companies he targeted were "scam companies" where investors were likely to have sustained losses. In an Internet posting last week, Elgindy said he had "lost my family, friends, business reputation and credibility." Far from humble though, Elgindy argued that the government was "absurd," to think he would risk his fortune for what he said was only "$41,000" in "profits." He has been in jail since last April after being caught using a fake name to board a plane at MacArthur Airport. At the time of his arrest, he had $55,000 in cash and jewels in his luggage. Copyright 2005 NYP Holdings, Inc. All rights reserved. nypost.com

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