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Pastimes : Makin' money honey

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To: sandintoes who wrote (2241)	6/19/2006 11:44:09 PM
From: stock leader	Read Replies (1) of 2260

Justice is served... more and more stock scammers will join him soon too... "Ex-Stock Picker Gets Prison Sentence Monday June 19, 10:02 pm ET Ex-Stock Picker Who Teamed Up With Rogue FBI Agent in Manipulation Scheme Gets Prison Sentence NEW YORK (AP) -- A former stock picker who teamed up with a rogue FBI agent in a scheme to manipulate stocks was sentenced Monday to more than 11 years in federal prison. Anthony Elgindy also was ordered by U.S. District Court Judge Raymond Dearie to forfeit $1.5 million ADVERTISEMENT Elgindy, of San Diego, was convicted in January 2005 of racketeering, conspiracy and securities fraud. He and four others were charged in May 2002 in U.S. District Court for the Eastern District of New York with securities fraud, extortion and obstruction of justice. Federal prosecutors accused FBI special agent Jeffrey Royer of New Mexico of leaking details of investigations and executives' criminal histories to Elgindy. Elgindy shorted penny stocks, then drove down their prices by publicizing damaging information he received from Royer. He also extorted companies by offering to withhold the information in exchange for cash. Royer was found guilty of racketeering conspiracy, securities fraud and obstruction of justice.

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