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Pastimes : Whodunit? Two Stockbrokers Murdered in Jersey; No Clues -- Ignore unavailable to you. Want to Upgrade?

To: jhild who wrote (97)	10/29/1999 5:25:00 PM
From: Janice Shell	Read Replies (2) \| Respond to of 1156

No. An NASD spokesperson said neither was licensed, though Chalem had applied for one. Although both were involved in the stock market, neither were licensed to trade stocks for the public with the National Association of Securities Dealers, which regulates and licenses traders. The Web site said it does not trade stocks for the public. Here's more. I suppose he was asked to furnish his employment history when he took (and apparently failed to pass) his Series-7. Though that's really odd. There're TENS OF THOUSANDS of idiots out there who did the 7. What was the problem with Chalem? Chalem's business history is traced back to 1980. According to NASD records, Chal-em was associated with Spectrum Printing, Inc., address unavailable, from 1980 through 1989. For the next four years, he owned Heartbreak Hotel, a Catskills inn that Kaye said burned down in 1994. In 1990 and 1991, he had business connections with the University of Miami, according to NASD records. He was then involved with Bay St. Contracting, address unavailable, and from January of 1994 through December 1995 he was with A.S. Goldmen & Co., Inc. the Woodbridge penny-stock firm accused in July of bilking investors, many of whom were elderly, out of almost $100 million. Manhattan District Attorney Rob-ert Morgenthau charged in July that the company used unlicensed salesmen, high-pressure tactics and artifi-cial manipulation of stock prices. Chalem applied in February 1994 for a license from the NASD to trade stocks but was denied, according to Karen M. O'Brien, general counsel for the North American Securities Administration Association. "The question is, what position could he hold in the firm and still not hold a license?" she said. injersey.com Message 11731618