Sorry Jeffery you are confused. He did not assert his right to not be extradited from California into New York. What you are referencing is his attempt to move it back into California. Which after his first step of not fighting it, was not a very good chance.
Elgindy could subpoena anyone he wanted. His lawyers had a duty to bring in everyone that had a chance of proving their clients innocence. They did not bring in anyone because no one could have helped with the matters before the court. Nobody chose to not testify that is a joke. If they needed the testimony they could have compelled it.
The real issue is that nobody besides Elgindy and his close mates had anything to do with the case in the first place. This was not a case about "what is scam stock" or "some stocks are over valued" everyone understands that. No shorters are being rounded up for shorting. Sure some ignorant fools can fear that, but I would not follow the flat-earther crowd so willingly.
This was a case about a corrupt FBI agent, and a corrupt Stock Analyst/Web Guru. They took confidential FBI information and traded on it, then Elgindy used that information and his position of influencing other traders to extort cheap shares from a Publicly Traded company. After he was paid off he stopped shorting the stock, and stopped others too. He was paid off to stop shorting the stock, and after he was paid off the threatening phone calls stopped. That is extortion, plain and simple. The facts are he is guilty of this extortion.
Now it is just plum stupid to think that anyone with any information that contradicts the above facts was somehow excluded from testifying. If anyone had material information to what he was convicted of, the would be forced to testify. And there is no record of Elgindy asking for any testimony that he was unable to get.
It a nice after the fact excuse, but its not born out in any facts.
Elgindy maintains he is not guilty, fine, but he was convicted of 4 of the 19 he uses in his example. The facts are he is guilty of the crime, as a matter of law.
The rest of my posting does not belong to the " I don't believe you" category.
Some may be along the lines of "you just admitted that you did not want the FBI information be posted on the internet because you knew it would jeopardize an ongoing FBI investigation- YET you posted that information to 300 people on your site, whom can all post it anywhere after you give it to them- SO you understand its FBI, and confidential, and you are trading on it, and distributing it..THUS How can anyone believe your defense when other parts of your defense admit your guilt."
That is slight more complex than " I don't believe you"
Elgindy was shown to have confidential FBI information.
Nobody disputes this as fact.
Elgindy was show to have asked for FBI information to be removed from the logs. His webmaster says he did this for him too.
Nobody disputes this as fact.
Elgindy was shown to repeatedly call up CEOs and accuse them of operating scam companies.
Nobody disputes this as fact.
Paul Brown paid Elgindy lower than market price shares.
Nobody disputes this as fact.
After Elgindy was paid, he stopped shorting NSOL and had everyone he could control stop shorting NSOL
Nobody disputes this as fact.
After Elgindy was given every opportunity to present why he was not guilty of the charges, a jury of his peers after reviewing all the evidence decided unanimously he was guilty of the charges. The jury was not dumb or foolish or unschooled in Stockmarket, as evidenced by them finding Elgindy NOT guilty on many of the charges.
Jeffery the undisputed facts prove Elgindy’s guilt. The Judge and Jury acted accordingly.
Elgindy wants to come on SI and tell the world about how if you just by into the notion that Elgindy was so dumb that this all happened to him. Meanwhile he has FBI files in his hands?
The discussion should move on to Why did he do it? Because to everyone except the willfully kool-aid drinking….the question to whether he did it is answered.
He did do it, tried and convicted.
Everyone has the right to come on Silicon Investor and defend criminal and criminal actions like Elgindy.
But lets not get confused.
Elgindy was not convicted for shorting.
Elgindy was not convicted for trading within a group
Elgindy was not convicted for finding public information and using that for trading
Elgindy was not convicted for having truthful information that he was able to generate that was not known to the greater investing community. IE Hedge fund type proprietary Due Diligence.
Elgindy’s case is of no significance to any other Shorting type trader, unless you go about taking stolen FBI information, then extorting shares from CEOs.
Elgindy was unique and his crimes are unique to him, and of no importance to any other shorters.
This is the third conviction for Elgindy.
He plead out of one crime and became State's witnesss
He did time for fraud.
And now this all, plus his presumed attempt to skip bail.
Jeffery I appreciate your posting of the transcripts it does a great service in helping to see that the verdict was true and just, and that Elgindy is convicted on the merits and for actions he willfully undertook. |
