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Strategies & Market Trends : Bill Wexler's Profits of DOOM
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To: Bill Wexler who wrote (442)3/16/1998 4:46:00 PM
From: Bill Wexler  Read Replies (2) of 4634
 
What is behind the Zitel fraud - second in a series.

Zitel is a dying company with its glory days (if there really ever were any) far behind it. In 1995 Zitel hired several stock promoters, most notably David Stewart, Emerald Research, and Morgen Walke. All were paid with (at the time) very cheap shares. All three have conducted a misinformation campaign designed specifically to artificially raise the price of this worthless stock. All three have sold massive amounts of stock, particularly in late 1996, when a false rumor was generated (with the full knowledge of Zitel management) that George Soros was taking a stake. A previous poster on SI, Al Rubin (mondoman@ix.netcom.com) who has conducted extensive investigation into the company, has good reason to believe that Kenneth Titow (the former president of Matridigm) left the company out of concern that Matridigm's primary investor, Zitel, was acting unethically.
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