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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From: Dale Baker	10/2/2006 5:37:32 PM
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Royer should have been sentenced to ten years minimum for selling out his clearance, IMHO. =DJ Disgraced FBI Agent Royer Sentenced To 6 Yrs In Stk Case By Carol S. Remond Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Former Federal Bureau of Investigation special agent Jeffrey Royer was sentenced to a six-year incarceration period Monday for his role in a stock-manipulation case involving a handful of penny-stock companies. Royer was also sentenced to three years of supervised release. Royer was found guilty of racketeering conspiracy and securities fraud charges in 2005 along with short seller Anthony Elgindy. The government accused the two men of using confidential FBI information to depress the shares of companies that Elgindy and members of his online investment group sold short. "Elgindy was the master manipulator," federal Judge Raymond Dearie said. But "without this chap and the information he sold, we would have no conspiracy," Dearie added. Royer was ordered to surrender on Nov. 6. Elgindy was sentenced to more than 11 years in jail and ordered to forfeit $1.5 million in June. Short sellers sell borrowed shares in the anticipation that they will profit when the price of these shares goes down. Elgindy and four others were charged in May 2002 in the U.S. District Court for the Eastern District of New York with securities fraud and extortion. Elgindy and Royer were also accused of having conspired to obstruct a post-Sept. 11 investigation into suspicious trading that took place shortly before the terrorist attacks on the U.S. That probe soon turned into a federal investigation of the peculiar relationship between the G-man and Elgindy. Royer's former girlfriend Lynn Wingate, who was also an FBI special agent at the time, received probation for her role in the case. Meanwhile, Jonathan Daws, a hedge-fund manager who admitted trading on nonpublic information he obtained from Royer, also received probation for his role. - By Carol S. Remond, Dow Jones Newswires, 201-938-2074, carol.remond@dowjones.com (END) Dow Jones Newswires 10-02-06 1620ET

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