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Strategies & Market Trends : Anthony@Pacific & TRUTHSEEKER Expose Crims & Scammers!!!
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To: StockDung who wrote (4815)11/6/2007 4:22:49 PM
From: StockDung  Read Replies (1) of 5673
 
*SEC overturns ban on stock trader | Elgindy's firm also ordered reinstated
*
Conor Dougherty / STAFF WRITER 198 words

11 March 2004
The San Diego Union-Tribune / English

(c) 2004 San Diego Union Tribune Publishing Company. Provided by ProQuest Information and Learning. All Rights Reserved.

The Securities and Exchange Commission has overturned a decision by the National Association of Securities Dealers to ban San Diego stock trader Amr "Anthony" *Elgindy* from the securities business.

The SEC also said yesterday that it dismissed a $50,000 fine that had been imposed on *Elgindy* by the NASD and ordered that *Elgindy*'s firm, Key West Securities, be reinstated to NASD membership.

The SEC upheld the NASD's decision to impose a joint $1,000 fine on *Elgindy * and his firm.

"It was a good day," *Elgindy* said yesterday.

The fines and penalties had been levied a year ago after the NASD found that in 1997 *Elgindy* manipulated the price of a penny stock, Saf T Lok, a Pennsylvania company that made trigger locks for firearms.

"We cannot conclude that the evidence demonstrates that (*Elgindy* or Key West) engaged in a manipulative scheme," the SEC's opinion stated.

*Elgindy* is scheduled to stand trial in June on unrelated allegations of securities fraud. He declined to comment on that matter.

Conor Dougherty: (760) 476-8245; conor.dougherty@uniontrib.com
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