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Pastimes : Surf, Turf, Stocks & Jocks..........Jane's World -- Ignore unavailable to you. Want to Upgrade?

To: Jane4IceCream who wrote (232)	1/5/2000 5:21:00 PM
From: jwk	Respond to of 248

Speaking of accountability and personal responsibility, there's news out the ol' T Mex/Tokyo Joe was just popped by the SEC. cbs.marketwatch.com SEC sues 'Tokyo Joe' for securities fraud Web-based guru accused of scalping, other violations By William L. Watts, CBS MarketWatch Last Update: 3:09 PM ET Jan 5, 2000 See: NewsWatch WASHINGTON (CBS.MW) -- Federal regulators filed civil fraud charges Wednesday against Yun Soo Oh Park, the self-proclaimed day-trading guru and Web site operator known as "Tokyo Joe," alleging he defrauded members of his Society Anonyme stock-alert service. In a complaint filed in federal court in Chicago, the Securities and Exchange Commission said Park, a New York resident, engaged in scalping, illegal touting and lying about his performance record. The SEC said Park and Societe Anonyme charged members up to $200 a month for Park's stock picks and other investment advice. Meanwhile, Park allegedly misled members or lied to them about his positions in the stocks he was recommending. According to the SEC, Park was contemporaneously selling the same stocks he was recommending that Society Anonyme members to buy. In such cases, Park allegedly bought the stock shortly before his buy recommendation and then profited by selling the stock into the buying flurry that followed his recommendation, a practice commonly known as "front-running." In legal parlance, the practice is called "scalping," though it's not to be confused with the trading strategy of the same name. The commission said Park posted "materially false and misleading" performance results on his Web site and accused him of "illegally touting" shares without disclosing that he had received stock from the issuer in exchange for his recommendation. Park's attorney didn't immediately return a phone call seeking comment. "The Internet has witnessed the rapid growth of Web sites run by self-proclaimed investment gurus. Today's action makes clear that we will not tolerate fraudulent conduct or undisclosed conflicts of interest by those peddling investment advice on the Internet," said SEC Enforcement Division chief Richard H. Walker. The SEC is seeking a permanent injunction against Park and Society Anonyme, which is operated from Park's New York home, as well as disgorgement of any ill-gotten gains and civil penalties

To: Jane4IceCream who wrote (232)	1/5/2000 6:25:00 PM
From: Carl van Rooyen	Respond to of 248

<My friend is very lucky.....> Ain't that the truth! This New Year's Eve marked the second anniversary of my very best friend's 17 year-old son's fatal drunken crash. It was a most profound and life-altering event for everyone in this small town. I hope nobody ever has to deal with that pain. Not to be too corny, but please let's all resolve this new year to never get behind the wheel when tipsy, and moreso never ever let a friend. Even if you have to forcibly stop them. (And I'm in no way blaming you or anyone at all - you probably weren't there anyway, and even if you were I'm not judging anybody...) I was no angel when it came to driving after a few at the pub, but since that endless night I spent with hysterically screaming and hopelessly broken parents I've never even considered it. The driving, that is. I love having a few. I'm very very happy to hear that your friend was not physically hurt, although I think I can imagine her mental anguish. Her family, you, and all other friends must be so relieved she's ok. Sorry if this sounded like a lecture. We've all had enough of those! We just can't hear about this kind of real stuff too often IMO. We shouldn't need catastrophes to change our naughty habits, but I have to say sadly that's what it took for me and many others around here where I live. Happy trails and all that...nice thread Jane