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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: TokyoMex who wrote (66271)	4/6/1999 11:02:00 PM
From: ztect	Read Replies (1) of 119973

Interesting read............. cbs.marketwatch.com Former SEC lawyer gets prison time Last Update: 8:36 PM ET Apr 5, 1999 NewsWatch NEW YORK (AP) -- A former lawyer with the Securities and Exchange Commission was sentenced today to a year in prison for bribing a broker to promote the stock of a company he represented. Robert D. Schulman, 56, of New York City was sentenced by U.S. District Judge John F. Keenan in Manhattan. Schulman was convicted July 30 of conspiracy to commit wire fraud and interstate commercial bribery for participating in a scheme to make secret payments to stock brokers to entice them to sell shares of Grayhound Electronics Inc. He formerly served as a staff lawyer in the Enforcement Division of the SEC's Northeast Regional Office from 1968 to 1971. Schulman was snared in an undercover FBI investigation in which agents posed as corrupt brokers willing to accept bribes to promote stocks to their customers. Prosecutors said Schulman told an FBI agent posing as a dishonest stockbroker that he was a lawyer for Grayhound Electronics and several of its European shareholders. He allegedly promised to make secret payments of Grayhound stock to the broker in exchange for the broker's agreement to sell more than a million shares of Grayhound to his customers so that the stock price would rise from 38 cents a share to $1 a share. After the phony broker bought 50,000 shares of Grayhound supposedly on behalf of a customer, Schulman had 15,000 shares of Grayhound deposited into a secret brokerage account for the broker's benefit, prosecutors said

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