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.

Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (5535)	12/16/1999 9:42:00 AM
From: phbolton	Read Replies (1) \| Respond to of 10293

Internet Implicated in Stock-Fraud Arrests in California By GRETCHEN MORGENSON Two California men were charged yesterday with conspiracy to commit securities fraud in a case that shows both how easy it is to inflate the price of stocks artificially on the Internet and, prosecutors say, how quickly such culprits can be identified. The United States attorney in Los Angeles and the Securities and Exchange Commission contend that the men -- Arash Aziz-Golshani and Hootan Melamed, both 23 years old and recent college graduates -- sent bogus messages over the Internet to pump up the price of stock in an obscure bankrupt company. The share price rose from 13 cents to more than $15 in less than two trading days last month, prosecutors say, reaping $364,000 in profits for Mr. Aziz-Golshani, Mr. Melamed and a third man. On Friday, Nov. 12, according to prosecutors, Mr. Aziz-Golshani, Mr. Melamed and the third man, Allen Derzakharian, 26, sat down at public nytimes.com