SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks Message Board

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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks

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To: michael d kugler who wrote (12439)	11/29/1997 2:02:00 PM
From: Urlman	Read Replies (2) of 13351

The B-Berg story provides more details...but here's NYT story... 11/27/97 The New York Times Late Edition - Final Page 2, Column 3 c. 1997 New York Times Company ÿ WASHINGTON, Nov. 26 -- Charles O. Huttoe, the former chairman and chief executive of Systems of Excellence Inc., has agreed to surrender $8 million to settle regulators' charges that he manipulated his company's stock in one of the biggest cases ever of Internet stock-touting fraud. Mr. Huttoe, 49, who was sent to prison after pleading guilty to similar criminal charges, also agreed to be barred permanently from the securities industry and from working as an executive at a public company. Mr. Huttoe neither admitted nor denied the civil allegations that the Securities and Exchange Commission filed in court in Washington. Systems of Excellence , a video teleconferencing company, and the Internet publisher SGA Goldstar Research are at the center of a sprawling Internet stock-promotion fraud case. Federal prosecutors said in November 1996 that Mr. Huttoe had paid the publisher $515,802 to promote Systems of Excellence stock, netting $12 million in illegal profit from the inflated shares. Mr. Huttoe sold the overpriced stock through brokerage accounts in family members' names and tried to cover up the scheme by creating bogus stock-registration statements, the S.E.C. said. 04:16 EST November 27, 1997

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