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


To: Taki who wrote (57992)7/12/2000 9:13:50 AM
From: StockDung  Read Replies (2) | Respond to of 122087
 
Fund chief stole $11 million for limos, prostitutes, stock


NEW YORK, July 11 (Reuters) - The chairman of offshore investment fund Berkshire Korea Telecom Fund pleaded guilty on Tuesday to charges he defrauded investors out of $11 million that he used to pay for prostitutes, lease limousines and buy stock for his own account.

David A.X. Baker, who is also president and portfolio manager of the fund's investment advisor Baker Capital Parners, pleaded guilty to six counts of securities and wire fraud in Manhattan federal court.

Baker, 36, of Westport Conn., faces a possible maximum prison term of 10 years in prison.

According to the indictment, Baker made numerous false representations to about 15 individual and institutional investors, including that their monies would be placed in companies involved in the information and telecommunications industries in South Korea.

He also mislead investors to believe that the fund had generated historical returns far in excess of the performance of the Korean stock market and that KPMG, an internationally recognized accounting firm, served as the fund's auditors.

Baker admitted during his plea hearing that much of the money was never invested for clients but he had diverted it for his personal use to pay for prostitutes, to buy and lease cars and limousines, and to buy stock for his own corporate account.

19:16 07-11-00



To: Taki who wrote (57992)7/13/2000 3:33:05 PM
From: Taki  Respond to of 122087
 
Bought 10,500 at 25/32 QTEK.Full report to go out,
and when it gets picked up, and with the small float of 3,4 million, then let see what happens.
By: TwoTrades $$$
Reply To: None
Thursday, 13 Jul 2000 at 1:04 PM
EDT
Post # of 1373

From La Guardia GFS, twotrades.com ,

La Guardia will be e-mailing a full research report on Quintek
Technologies (OTC BB: QTEK) later this week.

If you are interested in joining our e-mail list simply send a
blank e-mail to: join-twotrades@sonic.sparklist.com or go to
our web site: twotrades.com and input your e-mail
address under the "Join our List" tab on the left hand side of
the home page.

If anyone has any questions or comments concerning QTEK
please contact us by e-mail:
investor_relations@twotrades.com or call us at 888-577-6898.

Sincerely,

Investor Relations
La Guardia GFS
twotrades.com
888-577-6898