A member of SI that posts on the thread made "Bloomberg's".
Unfortunately, the article is not a positive one.
If you read the complaint, then a question could be asked, does that mean that they want to bar him from the internet as well?
I believe the complaint seeks a permanent injunction against him.
I believe that many people were interested in that case, and now the first part of the story is out in it's entirety.
The rest of that story will unfold, and who knows...there may
be a link.
No one will know for sure one way or another. until it's all over.
EDIT: Now I understand...bloomberg's changesthe link so you didn't read the right article..here it is:
Headlines
Securities Firms News
Wed, 2 Sep 1998, 9:07pm EDT
BN 9/2 Green Oasis Executive Schemed to Manipulate Stock, SEC Charges
Green Oasis Executive Schemed to Manipulate Stock, SEC Charges
Washington, Sept. 2 (Bloomberg) -- Green Oasis Environmental
Inc., its president, its public relations firm, and a newsletter
publisher all were charged with manipulating the South Carolina
company's share prices by touting its technology on the Internet.
The U.S. Securities and Exchange Commission alleged the
company and William D. Carraway, Green Oasis' president and
chairman, published false and misleading releases about the
commercial viability of the company's technology, which the
company said turns waste oil products into usable fuel.
Raymond C. O'Brien, who owned a public relations firm that
Carraway paid to hype Green Oasis in Internet news groups, was
charged with failing to disclose he was being paid to publicize
the company, the SEC alleged in its complaint filed in federal
court in Charleston, South Carolina.
The SEC is seeking fines and restitution for illegal profits
the men gained through the alleged scheme to increase the price
and trading volume of Green Oasis shares beginning in March 1996.
Green Oasis shares reached as high as 5 1/2 during that month,
and traded for as much as 10 1/4 in February 1997. It last traded
yesterday at 1/8.
Carraway, the company president, is contesting the SEC
charges against him and has filed a malpractice suit against a
law firm that was providing Green Oasis with securities advice,
said his attorney. Barton Sacher, of the Hornsby, Sacher, Zelman,
Stanton, Paul, Beiley & Van Sant law firm in Miami.
''He relied on the advise of professionals and denies intent
to defraud anyone and any involvement in any sort of scheme,''
Sacher said.
O'Brien could not be reached for comment.
Charleston-based Green Oasis settled the SEC's charges
against the company by agreeing to be subject to stiffer
sanctions if it commits similar violations in the future, said
SEC senior trial counsel Edward Sullivan in Atlanta. The company
neither admitted nor denied the allegations.
Ronald V. Reece, an electronic newsletter writer who
published positive information about the company, also was
charged by the SEC in a complaint that said he failed to tell
readers he received a discount on Green Oasis shares and had his
travel expenses paid by the company. The SEC is seeking an
undisclosed fine from Reece, who could not be reached for
comment.
Carraway and O'Brien also were charged with allegedly
selling $3 million of the company's stock over Green Oasis'
Internet web site without registering the offering with the
commission.
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