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Microcap & Penny Stocks : UPCA - Uniprime Capital Acceptance, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Janice Shell who wrote (593)	9/3/1999 1:43:00 PM
From: Jeffrey S. Mitchell	Read Replies (2) \| Respond to of 640

Uniprime Unit Pres. Pleads Not Guilty To Fraud Charges 09/02/1999 Dow Jones News Service (Copyright (c) 1999, Dow Jones & Company, Inc.) NEW YORK (Dow Jones)--The president of a Uniprime Capital Acceptance Inc. (UPCA) unit, whose claim that he had developed a cure for AIDS caused the company's stock to soar in July, pleaded not guilty to securities-fraud charges. Alfred J. Flores, accused of trying to defraud investors by posting news releases in June and July to the company's Web site claiming a new AIDS treatment, entered his plea at an arraignment before a magistrate in federal court in Manhattan. Flores, who is being held without bail, currently does not have an attorney and was denied a request for a court-appointed defender by U.S. Magistrate Judge Sharon E. Grubin. Federal authorities say Flores, who was arrested Aug. 12, was serving a sentence for murder during the period when he claimed to be doing AIDS research at a laboratory in Portugal. Boosted by the claims made in the news releases, Uniprime 's over-the-counter stock soared to 7 15/16 on July 20 from less than 1 a few days earlier. It recently traded at about 3/16, up 1/8. Flores and Uniprime also face securities-fraud charges in a civil suit filed by the Securities and Exchange Commission. On Aug. 13, a federal judge issued a temporary order freezing the assets of Uniprime , which owns automobile dealerships. - Colleen DeBaise; 212-227-2017; colleen.debaise@dowjones.com (END) DOW JONES NEWS 09-02-99 03:57 PM