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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: changedmyname who wrote (80107)	6/21/1999 6:56:00 PM
From: Mr. Big	Read Replies (1) \| Respond to of 119973

MCOM looks very BIG - WCOM and Paul Allen join in plus this news after market --->>> cbs.marketwatch.com

To: changedmyname who wrote (80107)	6/22/1999 4:57:00 AM
From: ArtsCool	Read Replies (1) \| Respond to of 119973

*Fake PAIR story guy may be headed for federal prison: Not that long ago some quick thinking traders smelled a rat in a story that was originally posted at Yahoo then spread to SI. I really thought the guy was: A. Absolutely innocent of any charges, if he had not purchased or received his companies stock. It turned out he was a Pair Gain employee. Even though he posted a false story it certainly was not libelous, I did not understand how he could be charged for pulling a prank on the net. Are we are taking this medium way too seriously? I was wrong. People lost money as they bought when the price was high and almost everything that skyrockets has a crash landing. James J. Cramer of the Street. Com was one who claimed to have lost big on the fraud. OR B. Guilty as charged. He was holding stock and was waiting to sell so he could make his move to Switzerland or Bermuda or Outer Mongolia... The answer is sorta B. He admits, paraphrasing here, he really wanted to get in on his own deal but got scared. Thanks Rock NJ and others for warning us. This will happen again and may get harder to detect. Some BIZ WIRE stories are almost unbelievable as "press releases ", some being close to fraud with questionable data or references. If BIZ WIRE admits can not check its references or sources on every story they do why should you? If you do not have time to investigate move on to the next stock because it really may be fraud or at least exaggeration. Here is the story as printed in the electronic version of the Wall Street Journal: PairGain Ex-Worker Pleads Guilty To Fraud in Stock Manipulation By a WALL STREET JOURNAL Staff Reporter LOS ANGELES -- Gary David Hoke pleaded guilty to fraud charges in connection with his highly publicized effort to manipulate the stock price of his former employer, PairGain Technologies Inc., by planting a fake news story on an Internet Web site. According to government filings in the case, Mr. Hoke in April posted a bogus report, made to look like a Bloomberg news story, that PairGain was being bought by an Israeli company for $1.35 billion. PairGain stock rose sharply but fell back when the company said there wasn't any such purchase. At the time, Mr. Hoke worked for PairGain but was subsequently discharged. Ironically, Mr. Hoke didn't actually trade any shares of PairGain stock as part of his scheme, "although [the] defendant intended to," according to the plea agreement filed in federal court here. Mr. Hoke "essentially got cold feet when he saw how much activity had been generated so quickly by his fake news story," said Christopher Painter, the assistant U.S. attorney on the case. Mr. Hoke, who will be sentenced later, faces up to 20 years in prison. However, under federal sentencing guidelines, his sentence would likely be in the range of 10 to 16 months, followed by three years of supervised release, said Mr. Painter.