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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Montecristo No.2 who wrote (51627)	2/10/2000 9:59:00 PM
From: Brasco One	Respond to of 122087

SEC sues man involved in Internet company NEW YORK, Feb 10 (Reuters) - The Securities and Exchange Commission on Thursday sued E4online.com and a Florida man for allegedly lying to investors to get them to buy shares in a purported development-stage Internet retailer. The suit, filed in Manhattan federal court, alleges Arthur Alonzo, 30, of Coconut Grove, Fla., impersonated a legitimate broker to sell shares of what appears to be a bogus company to unsuspecting investors. Alonzo is also under indictment in Brooklyn federal court on criminal securities fraud charges in a separate case and was arrested earlier this week for violating the terms of his bail. The SEC suit alleges Alonzo and E4oneline have sought to capitalize on the public perception that many Internet-related stocks increase in value after the company has an initial public offering. The SEC civil suit alleged Alonzo told prospective investors they could buy E4online stock at $2 per share in a private placement and that the company planned to issue shares in an IPO within a few months for $12 per share. Materials for the public offering allegedly said the company had offices in New York and contained information about the identities and qualifications of the company's management. The suit alleges there is no basis for statements about an imminent public offering, there is no E4online at its stated address in Manhattan and at least one person listed as a corporate officer is not affiliated with the company and two other ``officers' might not exist at all. The SEC alleged the company's stated office address in Manhattan is nothing more than an apartment occupied by a former Alonzo friend who denies there is any such businessthere. In his solicitations, Alonzo allegedly told investors his name was Bret Steinhart, a registered broker, and claimed to be affiliated with a Florida brokerage firm named J.W. Genesis. Alonzo had been a licensed broker in the early 1990s, but his registration was suspended by the National Association of Securities Dealers in 1998. In addition to the criminal securities case pending in Brooklyn federal court, he is a defendant in a criminal extortion case in Manhattan federal court stemming from a February 1997 incident in which he allegedly conspired with an organized crime figure to threaten and assault the then- president of a brokerage firm at which Alonzo worked.