Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Paul Berliner who wrote (9318)	9/14/1999 7:22:00 AM
From: Liatris Spicata	Read Replies (1) \| Respond to of 9980

Paul- Curiouser and Curiouser Kudos to those on this thread thought Princeton put out disinformation. From today's WSJ: ============================================== September 14, 1999 Widely Quoted Forecaster Is Arrested In Scandal Involving Japanese Investors By JATHON SAPSFORD and FRANCES A. MCMORRIS Staff Reporters of THE WALL STREET JOURNAL NEW YORK -- Martin A. Armstrong, the director of Princeton Economics International Ltd., an investment-advisory firm that has allegedly lost as much as $950 million in Japanese corporate investment money, was arrested and charged with securities fraud in New York. Mr. Armstrong is a 49-year-old market forecaster in New Jersey who has been widely quoted about commodities and other investments and has long been one of the most active silver traders on the New York Mercantile Exchange's Comex division. He was also the subject of a separate civil complaint filed Monday following an investigation by the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission. Authorities are still trying to figure out what happened to a fund that held roughly $1 billion in investments by Japanese corporations. So far, they can account for only $46 million. They fear the rest, or at least a big chunk of it, may have been lost in trading. In the criminal complaint filed in U.S. District Court in Manhattan, prosecutors allege Mr. Armstrong took the proceeds from client accounts and channeled the money to other accounts to cover up losses. ========================================================= The article goes on to note that Mr. Armstrong was released on $5 million dollar bail and that he was unavailable for comment.