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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Just My Opinion who wrote (21913)11/26/1997 10:19:00 AM
From: Dan Merfeld  Read Replies (3) of 55532
 
The following was included in my 'Money Daily Update'

Wiseguys do Nasdaq

Yesderday's 19-person indictment may be the tip of the
iceberg: CNBC reports today that the Nasdaq is
investigating as many as 18 more small stocks for
possible mob manipulation.

Federal officials on Tuesday charged 19 people,
including 5 with alleged connections to the Genovese
and Bonanno crime families, with a classic
"pump and dump" scheme involving a tiny stock called
Healthtech International (NASDAQ: GYMM). Although U.S.
Attorney Mary Jo White cautioned that the feds don't
think mob influence in the stock markets is
widespread, she said it would be "naive" to assume
there was only one stock being manipulated.

"We are investigating vigorously across the board,"
White told CNBC. She did not identify which additional
stocks were under investigation. Healthtech wasn't the
first scheme with mob connections, either. Earlier
this month, 13 people were indicted in a stock fraud
case, including one man whom court documents said was
an associate of the Gambino crime family. In May,
prosecutors charged three men with similar crimes,
including one with alleged ties to the Colombo crime
family.
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