Citron, Electronic Transfer, Polus Shares Linked, MSNBC Reports
New York, Jan. 28 (Bloomberg) -- Citron Inc., Electronic Transfer Associates Inc., and Polus Inc., whose shares have risen dramatically under dubious circumstances, are linked to disbarred former stockbroker Peter C. Tosto and public information about them is hard to come by, MSNBC reported. Smartek Inc. and Malibu Inc. also are linked to Tosto, who was forced out of the securities industry by the Nasdaq Association of Securities Dealers in 1991 for swindling investors and was fined $1.1 million by the Securities and Exchange Commission in 1997 for his involvement with San Diego Bancorp shares. Investors have no way to verify claims made in certain press releases by these companies, nor are they likely to see through ''misleading puffery,'' MSNBC reported.
Citron, Electronic Transfer, Malibu, Polus, and Smartek shares trade on Nasdaq's Over the Counter bulletin board exchange.
14:56:01 01/28/1999 |
