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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (7574)	4/28/2000 1:40:00 PM
From: StockDung	Respond to of 10354

I keep looking for Ziasuns disclosure where they paid Bergman. Where oh where can it be? Did Bergman sell his shares? Was he front running like Tokyo Joe? Is this fraud? Stock manipulation? Can he be indicted like the tree trimmer of econnect was? Tree Trimmer Faces Fraud Charges for Touting Econnect Los Angeles, April 24 (Bloomberg) -- Criminal charges of securities fraud have been filed against Stephen Sayre, alleging the Los Angeles tree trimmer made $1.4 million selling shares of eConnect Inc. even while issuing `buy' recommendations for the stock. A warrant was issued Friday for Sayre's arrest, an assistant U.S. attorney said. Sayre, 43, failed to appear for a hearing in federal court on separate civil charges brought by the Securities and Exchange Commission in connection with the case. Although Sayre's recommendations, made under the name Independent Financial Reports, claimed he held no stock in the company, he ``secretly purchased and sold eConnect stock,'' according to a sworn statement by Christopher Phillips, an agent with the Federal Bureau of Investigation. In the civil suit, U.S. District Court Judge Margaret Morrow ordered that Sayre's assets remain frozen after finding he wired $1.3 million of his profits to a Bank of Montreal account in Vancouver, Canada. The money came from his sale of 177,300 shares of eConnect, a company he urged investors to buy in four research reports he published on the Internet. Shares of San Pedro, California-based eConnect soared from $1.39 on Feb. 28, before Sayre's first report, to a high of $21.88 on March 9. Econnect, which says it is developing Internet banking technology, has since tumbled to 88 cents. The sharp rise in eConnect shares attracted the SEC's attention. The SEC brought separate fraud lawsuits against Sayre and eConnect. Last week, Sayre complained of harassment in a letter to the SEC, saying that four armed FBI agents visited him ``despite my continued cooperation and communication.'' An SEC official confirmed the letter, which was obtained by Bloomberg News, was received. An FBI official declined comment. Judge Morrow issued findings of fact in support of a preliminary injunction that froze Sayre's assets. She found eConnect's chief information officer posted one of Sayre's ''buy'' recommendations on RagingBull.com, an Internet site after the company issued a bogus press release that a Florida brokerage firm agreed to use eConnect's product. In his letter faxed to the SEC, Sayre denied wrongdoing. ``I am not aware that expressing an opinion or having publicly available knowledge of a company's worth was in any way currently a crime in the United States,'' he wrote. Among the accounts frozen was one used by Sayre's tree- trimming business, Diversified American Industries, at Washington Mutual Bank. Apr/24/2000 18:09 For more stories from Bloomberg News, click here. (C) Copyright 2000 Bloomberg L.P.