Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Anthony@Pacific who wrote ()	12/14/1998 4:54:00 PM
From: StockDung	Read Replies (1) of 122087

Tel-Com Wireless Shares Plunge as Ivana Trump Leaves Venture Miami, Dec. 14 (Bloomberg) -- Tel-Com Wireless Cable TV Corp. shares plunged 40 percent as Ivana Trump cut her ties with the company and its planned Internet shopping site, following a report that Tel-Com consultants had been involved in stock scams. The North Miami Beach, Florida-based company was trying to sell luxury goods online and is involved in satellite-television and wireless cable businesses. Tel-Com fell 4 11/16 to 6 11/16 in trading of 1.6 million shares, more than seven times the three- month daily average. ''In light of charges and counter-charges dealing with my association with Tel-Com, I have decided to step aside,'' Trump said in a statement. ''I want to be totally disassociated until the horrific charges against Tel-Com and its shareholders are cleared.'' Trump had been promoting Tel-Com's 5th Avenue Channel subsidiary, which was to have pitched luxury goods on the Internet, Trump was to slated to be a hostess on a planned 24-hour-a-day cable network. Last week, Tel-Com was the subject of a negative report in Barron's charging that some Tel-Com consultants had been involved in shady stock dealings. Tel-Com officials didn't immediately return phone calls. The Barron's story noted that Tel-Com hired consultants with histories of stock manipulation and problems with securities regulators. Tel-Com issued a press release Monday saying that none of the consultants were involved in management and that they were terminated when their histories came to light. Tel-Com has an agreement to air Bloomberg Television programming as part of its new 5th Avenue channel's financial news segments. 16:40:59 12/14/1998

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