TGSI U S TRANS GLOBAL SERVICES INC
1393 Veterans Memorial Highway
T:631-724-0006 F:631-724-0039
Hauppauge,NY 11788 tgsi-usa.com
EDWARD D BRIGHT CHAIRMAN
JOSEPH G SICINSKI PRESIDENT/CEO
GLEN R CHARLES CFO/TREASURER/SECRETARY
FRANK J VINCENTI VP
GRAZYNA B WNUK SECRETARY
______________________
FXGP U S THE FINX GROUP
249 Saw Mill River Road T:914-592-5930
Elmsford,NY 10523 F:914-592-6014
fingermatrixinc.com
LEWIS S SCHILLER CHAIRMAN/CEO
FRED ZIVITOFSKY PRESIDENT
MICHAEL SCHILLER VP:TECHNOLOGY DEV
GRACE WNUK VP/SECRETARY
_____________________________________
1) WSA 7/01 WNUK GRAZYNA B,OFF. DIR. & BEN. OWNER,BUYS 7,500 FROM 05/02/00-0
2) WSA 7/01 TRINITY GROUP-I I,10% BEN. OWNER,BUYS 9,000 ON 04/14/00 OF FINGE
3) WSA 6/07 WNUK GRAZYNA B,DIR. & BEN. OWNER,BUYS 6,300 FROM 04/03/00-04/28/
4) WSA 6/07 TRINITY GROUP-I I,UNKNOWN REL.,BUYS 5,700 ON 04/14/00 OF FINGERM
5) WSA 5/01 WNUK GRAZYNA B,DIR. & BEN. OWNER,BUYS 7,400 FROM 03/01/00-03/30/
6) WSA 5/01 TRINITY GROUP-I I,10% BEN. OWNER,BUYS 12,500 FROM 03/06/00-03/22
7) WSA 2/29 WNUK GRAZYNA B,OFF. DIR. & BEN. OWNER,BUYS 5,500 FROM 01/03/00-0
8) WSA 2/29 TRINITY GROUP-I I,10% BEN. OWNER,BUYS 20,500 FROM 01/04/00-01/28
9) WSA 2/11 WNUK GRAZYNA B,DIR. & BEN. OWNER,BUYS 5,900 FROM 12/01/99-12/31/
10) WSA 2/09 TRINITY GROUP INC,10% BEN. OWNER,BUYS 11,500 FROM 12/09/99-12/30
11) WSA 1/06 WNUK GRAZYNA B,DIR. & BEN. OWNER,BUYS 7,000 FROM 11/02/99-11/30/
12) WSA 1/06 TRINITY GROUP INC,10% BEN. OWNER,SELLS 10,000 ON 11/16/99 OF FIN
13) WSA 1/06 TRINITY GROUP INC,10% BEN. OWNER,BUYS 27,500 FROM 11/03/99-11/05
14) WSA 10/20 WNUK GRAZYNA B,DIR. & BEN. OWNER,BUYS 6,350 FROM 09/08/99-09/30/
15) WSA 10/20 TRINITY GROUP INC,10% BEN. OWNER,BUYS 18,500 FROM 09/09/99-09/30
16) WSA 9/09 WNUK GRAZYNA B,DIR. & BEN. OWNER,BUYS 1,585,650 ON 04/29/99 OF F
17) WSA 9/09 TRINITY GROUP INC,10% BEN. OWNER,SELLS 3,699,850 ON 04/29/99 OF
18) WSA 9/09 TRINITY GROUP INC,10% BEN. OWNER,BUYS 16,000 FROM 07/07/99-07/13
19) WSA 9/09 TRINITY GROUP INC,10% BEN. OWNER,BUYS 16,000 FROM 06/01/99-06/29
20) WSA 9/09 SCHILLER LEWIS S,CHAIRMAN,BUYS 16,000 FROM 07/07/99-07/13/99 OF
CEO OF FTGX USED TO BE CEO OF THIS COMPANY
--------------------
TRANS GLOBAL SERVICES, INC. ANNOUNCES RECORD EARNINGS
4/16/98 17:10 (New York)
for the Year Ended December 31, 1997
HAUPPAUGE, N.Y., April 16 /PRNewswire/ -- Trans Global Services, Inc.
(Nasdaq: TGSI) reported net income of $1,023,000, or $.27 per share, for the
year ended December 31, 1997 on revenue of $75.7 million compared to a net
loss of $681,000, or $.27 per share, on revenue of $62.6 million during the
year ended December 31, 1996.
The dramatic turnaround experienced in 1997 is a direct result of the
Company's strategy of focusing its sales and placement efforts towards cross
selling existing clients within the various segments of temporary staffing
already provided by the Company. Additionally, the Company is continuing its
efforts to control overhead costs.
Trans Global also announced the election of Mr. Joseph G. Sicinski, its
president, chief operating officer and a director, as chief executive officer,
and Edward D. Bright as chairman of the board. The election of Messrs.
Sicinski and Bright followed the resignations of Mr. Lewis S. Schiller as
chairman of the board, chief executive officer and a director and of Messrs.
Norman J. Hoskin and E. Gerald Kay as directors, and the election of Messrs.
Edward Bright, Donald Chaifetz and Seymour Richter to fill the vacancies
created by such resignations.
The election of Mr. Sicinski as chief executive officer reflects the
board's recognition of Mr. Sicinski's efforts in bringing Trans Global to
profitable operations in 1997 and its confidence in his ability to direct
Trans Global in the future.
Trans Global Services, Inc. is engaged in providing technical temporary
staffing services. In performing such services, the Company addresses the
current trend of major corporations in "downsizing" and "outsourcing" by
providing engineers, designers and technical personnel on a temporary contract
assignment basis pursuant to contracts with major corporations.
Trans Global Services, Inc.
Selected Financial Results
For the Years Ended December 31, 1997 and 1996
(000)
1997 1996
Total Revenue 75,725 62,594
Gross Profit 6,647 5,158
Net Income (Loss) 1,023 (681)
Net Earnings (Loss) Per Share 0.27 (0.27)
Weighted Average Number of Shares 3,819,574 2,530,495
SOURCE Trans Global Services, Inc.
-0- 04/16/98
/CONTACT: Glen R. Charles, CFO of Trans Global Services, 516-724-0006/
/Web site: villagenet.com
(TGSI)
CO: Trans Global Services, Inc.
ST: New York
IN:
SU: ERN PER
-0- (PRN) Apr/16/98 16:55
EOS (PRN) Apr/16/98 16:55 86
-0- (PRN) Apr/16/ 98 17:10
TRANS GLOBAL Service PRIOR NAME Concept Technologies Group, Inc (CTGI)
--------------------
EIGHT L.C. WEGARD BROKER-MANAGERS INDICTED ON FRAUD CHARGES
7/9/98 11:47 (New York)
(The following is a press release issued by the office of
U.S. Attorney Faith Hochberg.)
Eight manager-brokers indicted on conspiracy
and securities fraud charges; "boiler room" operation
alleged in 68-count Indictment returned today
NEWARK -- Eight manager-stockbrokers at Pennsylvania and Rhode
Island offices of a New York City brokerage firm were indicted on
conspiracy and securities fraud charges today for alleged roles
in a four-year "boiler room" operation in which unsuspecting
investors were induced to purchase speculative, high risk over-
the-counter ("OTC") stocks through fraudulent and deceptive sales
practices, U.S. Attorney Faith S. Hochberg announced.
The 68-count Indictment, returned today by a Newark Federal Grand
Jury, is part of a continuing investigation that, in November
1997, resulted in the indictment of eight other stockbrokers from
the same firm, L.C. Wegard & Co. Inc. ("Wegard"), which before
its retail operations ceased in November 1995 was headquartered
at and had a sales office at 17 Battery Place, New York City.
None of the eight men indicted today have been arrested. They are
expected to surrender at their arraignment before the U.S.
District Judge to whom their case is assigned. All allegedly
played roles in a four-year scheme that occurred between November
1991, and November 1995, at Wegard.
"The charges alleged in this Indictment caused unsuspecting
investors to lose large sums of money on high-risk, fraudulently
manipulated stocks. These 'boiler room' high-pressure telephone
tactics are a public menace and an affront to the thousands of
honest men and women in our nation's securities industry,"
Hochberg said.
"We will continue to investigate and prosecute anyone who
exploits the public with fraudulent schemes that enrich
themselves and impoverish the public."
Wegard maintained branch offices at:
4365 U.S. Highway One, Princeton, N.J..; 3220 Tillman Dr.,
Bensalem, Pa., a Philadelphia suburb; 300 Oxford Dr.,
Monroeville, Pa., a Pittsburgh suburb; 2350 N. Forest Rd.,
Getzville, N.Y., a Buffalo suburb; 220 White Plains Rd.,
Tarrytown, N.Y.; 1661 Feehanville Rd., Mt. Prospect, Il., a
suburb of Chicago; and 155 Westminster St., Providence, R.I.,
according to Hochberg.
In Count One all eight defendants are charged with conspiracy to
commit securities fraud. Conviction on this count carries a
maximum of five years in federal prison.
Conviction on each of the Indictment's remaining 67 securities
fraud counts would carry a maximum of five years in federal
prison.
In addition to prison terms, each defendant, if convicted, would
also face potential maximum fines of more than $1 million,
according to Assistant U.S. Attorney David M. Rosenfield.
Under U.S. Sentencing Guidelines, the U.S. District Judge to whom
this case is assigned would, upon conviction, determine the
actual sentence based upon a formula that takes into account the
severity and characteristics of the offense and each defendant's
criminal history, if any, Hochberg said.
Parole, however, has been abolished in the federal system. Under
sentencing guidelines, defendants who are given custodial terms
must serve nearly all that time, Hochberg explained.
Charged in today's Indictment were:
Lawrence Weil, 39, 10 Schoolhouse Rd., Clarksburg, N.J., the co-
branch manager of Wegard's Bensalem, Pa. office. Weil was charged
in 27 counts of the Indictment, Counts 1-27;
Sean Hart, 41, 598 Riverwood Ave., Point Pleasant, N.J., the co-
branch manager of Wegard's Bensalem office. Hart was charged in
17 counts of the Indictment, Counts 1-13 and 28-31;
John Adams Jr., 53, 801 Old Mill Rd., Pittsburgh, Pa., the branch
manager of Wegard' s Monroeville office. Adams was charged in
Count One of the Indictment;
Neil White, 37, 4 Bowne Ave., Atlantic Highlands, N.J., the
assistant branch manager of Wegard's Monroeville office. White
was charged in 12 counts of the Indictment, Counts 1 and 32-42;
Daniel Petronelli, 43, 275 Crescent St., West Bridgewater, Mass.,
the branch manager of Wegard's Providence office. Petronelli was
charged in nine counts of the Indictment, Counts 1 and 43-50;
Victor Samaha, 30, 11 Coriander Lane, North Kingston, R.I., the
assistant branch manager of Wegard's Providence office. Samaha
was charged in nine counts of the Indictment, Counts 1, 43-49,
and 51;
Malik Tawil, 26, 511 Ocean Dunes, Jupiter, Fla., and formerly of
Lincroft, New Jersey, a manager at Wegard's Bensalem and
Princeton, offices. Tawil was charged in 10 counts of the
Indictment, Counts 1 and 52-60; and
Joseph Orlando, 30, 172 Shadow Ridge Dr., Pittsburgh, Pa., a
manager at Wegard's Monroeville office. Orlando was charged in
nine counts of the Indictment, Counts 1 and 61-68.
Awaiting trial on charges lodged in the Indictment returned last
November are Michael McDermott, of Clarksburg, New Jersey; David
Nelson, of Olathe, Kansas ; Samuel Del Presto, of Jupiter,
Florida; Mark McDermott, of Glendale Heights, Illinois; Gary
Smololoff, of Perrineville, New Jersey; Curtis Marchand III, of
Denver, Colorado; Palmer Myers, of Hillsborough, New Jersey; and
Richard Blumette, of Parlin, New Jersey. The trial for these
eight defendants is scheduled for January 1999, before U.S.
District Judge John W. Bissell in Newark Federal Court.
In a pending August 1995 civil lawsuit filed by the State of New
Jersey, Michael McDermott and Wegard were alleged to have
committed securities fraud. That suit, which is pending before
N.J. Superior Court Judge Alvin Weiss, alleges that Wegard
customers may have lost approximately $106 million between
October 1991 and September 1994 as a result of fraudulent sales
practices.
Most of the defendants in today's Indictment and many of their
alleged co-conspirators formerly worked at the Hibbard Brown &
Co., Inc. ("Hibbard Brown") brokerage firm headquartered at 50
Broadway in New York City, which also operated as a "boiler
room," according to the Indictment.
Hibbard Brown was sanctioned at various times by state securities
regulators and then expelled in July 1994, from the National
Association of Securities Dealers ("NASD") for alleged fraudulent
sales activities, according to court documents.
The defendants, along with alleged co-conspirators, played roles
in an alleged scheme in which fraudulent, deceptive and high
pressure sales tactics were used to induce unsuspecting investors
to purchase speculative, high-risk Wegard-recommended OTC and
NASDAQ stocks ("Wegard Stocks") hastily and without the
opportunity to make informed and reasoned investment decisions,
according to today's Indictment.
As a result, Wegard customers lost substantial sums of money, and
the defendants and their co-conspirators made substantial sums of
money, the Indictment states.
The defendants and their co-conspirators "attempted to staff
Wegard offices with a sales force that could be induced to sell
Wegard Stocks through fraudulent and deceptive sales practices,"
and accomplished this objective "by hiring primarily young
individuals who had no experience in the securities business, and
then giving them little or no training in the proper workings of
the securities business," the Indictment states.
The defendants and their co-conspirators also "staffed Wegard
offices in disregard of the licensing, registration, and filing
requirements mandated by securities regulators and by Wegard's
compliance department," according to the Indictment.
To sell Wegard Stocks, the defendants and their co-conspirators
instructed Wegard's brokers to use sales scripts prepared by the
defendants and their co-conspirators. The scripts "contained
factual misrepresentations about the Wegard stocks, and omitted
material facts about the Wegard stocks that were necessary for
investors to know in order to make informed and reasoned
investment decisions," the Indictment states.
The defendants and their co-conspirators allegedly attempted to
prevent Wegard's customers from selling any Wegard Stocks. They
feared that significant sales would cause those stock prices to
fall, precluding Wegard's brokers from touting Wegard's past
successes when they solicited customers to buy additional Wegard
Stocks. As a result, the defendants and their co-conspirators at
times refused to accept or execute customer sell orders for
Wegard Stocks, according to the Indictment.
The defendants and their co-conspirators also allegedly attempted
to conceal their sales activities from securities regulators and
from Wegard's own compliance department. The defendants and their
co-conspirators "destroyed and concealed sales scripts; they lied
to regulators and to Wegard's compliance department; and they
falsified documents such as customer new account forms," the
Indictment states.
Some 27 Wegard stocks were traded in the NASDAQ and OTC Bulletin
Board markets, according to the Indictment:
AFGL International, Inc.; AGP & Co., Inc.; Chefs International,
Inc.; Concept Technologies Group, Inc.; Consolidated Technology
Group Ltd. (Formerly known as Sequential Information Systems,
Inc.); Diamond Entertainment Corp.; First Chesapeake Financial
Corp.; Futurebiotics, Inc.; Great American Recreation, Inc.;
Immunotheraputics, Inc.; International Franchise Systems, Inc.;
Intile Designs, Inc.; Lafayette Industries, Inc.; Lasergate
Systems, Inc.; Las Vegas Entertainment Network, Inc.; Linkon
Corp.; Luxcel Group, Inc.; Nacoma Consolidated Industries, Inc.;
Non-Invasive Monitoring Systems, Inc.; Officeland, Inc.; PDK
Labs, Inc.; Primedex Health Systems, Inc.; Process Equipment,
Inc.; Red Hot Concepts, Inc.; Sanyo Industries, Inc. (which is
not related to Sanyo Electronics); Site-Based Media, Inc.; and
U.S. Transportation Systems, Inc.
The remaining stock, International Thoroughbred Breeders, Inc.,
was a "speculative, high-risk security listed on the American
Stock Exchange," according to the Indictment.
More than 30 principals, executives and brokers involved in OTC
stocks have been convicted as a result of pleas or jury trials in
the District of New Jersey, Hochberg said.
An Indictment is a formal charge made by a grand jury, a body of
16 to 23 citizens, Hochberg noted. Grand jury proceedings are
secret, and neither persons under investigation nor their
attorneys have the right to be present. A grand jury may vote an
Indictment if 12 or more jurors find probable cause to believe
that the defendant has committed the crime or crimes charged.
Despite Indictment, every defendant is presumed innocent, unless
and until found guilty beyond a reasonable doubt following a
trial at which the defendant has all of the trial rights
guaranteed by the U.S. Constitution and federal law.
Hochberg credited Special Agents of the FBI, under the direction
of William C. Megary, special agent in charge of the FBI's Newark
office; U.S. Postal Inspectors, under the direction of J.J.
Skidmore, postal inspector in charge of the Newark Division; NASD
Regulation Inc. ("NASDR"), under the direction of Mary L.
Schapiro, NASDR president, and Mary Alice Brophy, NASDR executive
vice-president, both in Washington; the New York District 10
office of NASDR, under the direction of Gary Liebowitz, vice
president and deputy district director; and the New Jersey Bureau
of Securities, under the direction of Franklin L. Widmann, bureau
chief, with developing this case.
Hochberg also thanked Richard Walker, director of the Securities
and Exchange Commission's ("SEC") Enforcement Division in
Washington for committing SEC personnel to assist in the
investigation and prosecution of the case.
The Government is represented by Assistant U.S. Attorney
Rosenfield, of the U.S. Attorney's Fraud and Public Protection
Division in Newark.
Today's Indictment is part of continuing efforts in the District
of New Jersey by the U.S. Department of Justice and various
federal and state securities regulators to target criminal
activity in the OTC and NASDAQ markets, Hochberg.
The defendants charged in today's Indictment are expected to be
arraigned within the next two weeks before the U.S. District
Judge in Trenton, Camden or Newark to whom their case is
assigned.
-30-
AUSA David Rosenfield 973-645-2779
1998-07-09 -- Wegard, L.C. -- Indictment -- News Release
1998-07-09 -- Wegard, L.C.
Indictment -- News Release
U.S. Attorney for the District of New Jersey
Faith S. Hochberg, United States Attorney
970 Broad Street, Seventh Floor, Newark, New Jersey 07102
Main Office Number: 973-645-2700
Public Affairs Office: 973-645-2888
NEWS: njusao.org EMAIL: publicaffairs@njusao.org
Dick Lavinthal: Public Affairs Specialist lavinthal@njusao.org
Alan Ables: Public Affairs Specialist ables@njusao.org
Archived News Releases/Documents:
usdoj.gov
-0- (CRL) Jul/09/ 98 11:47
SCHILLER STUFF
--------------------
FINGERMATRIX REORGANIZES FOLLOWING ACQUISITIONS
5/6/99 7:17 (New York)
Business Editors/High Tech Writers
ELMSFORD, N.Y.--(BUSINESS WIRE)--May 6, 1999--Fingermatrix Inc.
(OTC BB:FINX), which last week acquired three subsidiaries of
privately-owned The Trinity Group in exchange for 85 percent equity
interest and management control, today reported a reorganization of
the company.
A new Board of Directors was named to succeed former Fingermatrix
directors who had resigned. Its members are Lewis S. Schiller, a
merchant banker who is chairman of The Trinity Group; E. Gerald Kay,
chairman and president of Chem International Inc., and Joel M. Brown,
a former corporate financial executive who is currently a private
investor. Schiller was designated Chairman of the Board.
Schiller said the company is in discussions with several sources
of financing looking to secure funds for pursuit of new opportunities
created by the recent acquisitions. One such project, just announced,
is to pursue development of a fingerprint-based system providing
secure transactions on the Internet.
Schiller, beside his chairmanship of The Trinity Group, also sits
on the boards of various private companies. He previously served as
chairman and chief executive officer of Consolidated Technology Group,
Ltd.; chairman and CEO of Transglobal Services Inc. (Nasdaq:TGSI), and
chairman and CEO of Netsmart Technology Inc. (Nasdaq:NTST). His
brother, Michael Schiller, founded Fingermatrix 20 years ago, was its
technological innovator and also served as its president until 1994.
Joel M. Brown, a private investor, was formerly treasurer of U.S.
Lines Inc., New York; treasurer of Hartz Mountain Corp., Harrison,
N.Y., and vice president and treasurer of The Remco Maintenance Corp.,
New York.
The third Fingermatrix director is E. Gerald Kay, chairman and
president of Chem International Inc., a NASDAQ-sited company.
The Trinity interests acquired last week are SES Acquisitions
Corp. and its two wholly-owned subsidiaries -- Sequential Electronic
Systems Inc. and S-Tech Inc. -- which Schiller said will operate as
units of Fingermatrix. Also acquired was Trinity's 51-percent equity
holding in FMX Inc., a development concern specializing in electronic
fingerprinting and imaging technologies. In the reorganization, its
activities will be combined with those of Fingermatrix.
--30--azs/sf* ml/sf
CONTACT: Molesworth Associates Inc.
Gordon Molesworth, 520/625-0550
KEYWORD: NEW YORK
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
INTERACTIVE/MULTIMEDIA/INTERNET MERGERS/ACQ MANAGEMENT CHANGES
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
-0- May/06/1999 7:02
EOS (BUS) May/06/99 07:02 86
-0- (BUS) May/06/1999 7:17
CHECK OUT THE LIST OF COMPANIES MENTIONED HERE, COMPARE TO LIST OF COMPANIES THA
T SCHILLER AND HIS "TRINITY GROUP" ARE INVOLVED WITH
--------------------
NY Attorney General Expands Monroe Parker Charges (Update1)
10/2/98 17:55 (New York)
NY Attorney General Expands Monroe Parker Charges (Update1)
(Adds names of six defendants in 5th paragraph and details
on today's arraignment in 2nd, 10th and 11th paragraphs.)
New York, Oct. 2 (Bloomberg) -- New York's attorney general
has charged eight more ex-employees of the defunct Monroe Parker
Securities Inc. brokerage with defrauding 8,000 customers of more
than $100 million.
Attorney General Dennis Vacco also expanded fraud charges
his office filed in May against Monroe Parker's owners, Alan
Scott Lipsky and Bryan Herman, and top executives Richard Levitov
and Ralph Angeline. The 12 defendants were charged today in
Westchester County Court in White Plains, New York, and pleaded
not guilty.
Monroe Parker, which was based in Purchase, New York, went
out of business in January. Herman and Lipsky had worked as
brokers at Stratton Oakmont before starting Monroe Parker in
1994. Stratton Oakmont was expelled from the securities industry
in December 1996 after a history of abuses.
The new defendants charged today with fraud and grand
larceny include John Patrick Clancy, the firm's former top-
producing broker and chief trainer of rookie brokers, Vacco said.
Clancy was charged with 13 counts. Clancy and another defendant,
Louis DiFruscio, charged with five counts, remain at large, said
Marc Wurzel, a spokesman for Vacco.
The other defendants include Daniel DiMaria, charged with 11
counts; Stephen Kiront, charged with seven counts; Barry Kiront,
charged with seven counts; Stephen Anello, charged with seven
counts; John Tinnelly charged with nine counts; and Michael
O'Donohue, charged with five counts.
Today's indictment also increases the number of so-called
``micro-cap'' stocks -- shares of shares of small and little-
known companies -- that Monroe Parker allegedly manipulated. They
include Dual Star Technologies, CHEM International Inc., All
Communications Corp., Care Group Inc., Paramount Financial Corp.,
Sonics and Materials Inc., IDM Environmental Corp., Big City
Bagels Inc., Netsmart Technologies Inc., Thermacell Technologies
Inc., Hemispherx Biopharma Inc., Aquanatural, and Select Media
Communications.
From 1994 to 1997, Monroe Parker and its employees ``misled
customers with false inside information and withheld from
investors key facts about stocks it was promoting,'' Vacco said
in a written statement.
Monroe Parker primarily sold stock in which the firm or its
principals had an interest, Vacco said.
The defendants wouldn't let customers cash out of stocks
that increased in value, ``instead encouraging them to funnel
their profits into other house stocks,'' he said. Most of the
firm's customers lost money, he said.
Lipsky, Herman, Levitov and Angeline had been released after
being charged in May and posting bond of between $200,000 and
$400,000. The bonds were continued today, Vacco spokesman Wurzel
said.
The six new defendants who were arrested and appeared in
court had bond set between $50,000 and $300,000, depending on the
amount they profited from the alleged securities fraud, Wurzel
said.
--Betsy Jelisavcic in New York (212) 233-2257, through the New
York newsroom (212) 318-2300.ltk /ag
Story illustration: To graph the recent performance of Steven
Madden stock, enter SHOO US <Equity> GP D.
Company news:
SHOO US <Equity> CN Steven Madden
6813Z US <Equity> CN Stratton Oakmont
UTDL US <Equity> CN United Leisure
DSTR US <Equity> CN Dual Star
CXIL US <Equity> CN CHEM International
ACUC US <Equity> CN All Communications
CARE US <Equity> CN Care Group
PARA US <Equity> CN Paramount Financial
SIMA US <Equity> CN Sonics and Materials
IDMC US <Equity> CN IDM Environmental Corp.
BIGC US <Equity> CN Big City Bagels
NTST US <Equity> CN Netsmart Technologies
VCLL US <Equity> CN Thermacell Technologies
HEB US <Equity> CN Hemispherx
AQQA US <Equity> CN Aquanatural
SMTV US <Equity> CN Select Media
News by industry:
NI SCR Securities
News by category:
NI NASD NASD
NI SEC SEC
NI LAW Legal
NI CRIME Crime
NI GOV Government
Regional news:
NI NY NY
NI US U.S.
For news on people mentioned in this story, type WHO, the
person's name, then <Go>.
For law-related securities news: TNI SCR LAW
-0- (BN ) Oct/02/1998 17:55
T G S I U S TRANS GLOBAL SERVICES INC 12) CN All
News/Research
Human Resources 13) CWP Company
Web Page
CUSIP 892916503
Trans Global Services, Inc. supplies technical temporary staffing
services, specializing in highly skilled engineering and design
staffing. The Company serves industries such as aircraft/aerospace,
electronics, communications, information technology, chemical, power
generation, and marine.
SYMBOL CHANGED FROM CTGI US EFF 9/21/95.N/C FROM CONCEPT TECHNOLOGIES
GROUP INC
EFF 3/28/96.
CHEM AND NETSMART
--------------------
Stephen Drescher, Former Brokerage Executive, Charged in Fraud
6/22/0 14:25 (New York)
Stephen Drescher, Former Brokerage Executive, Charged in Fraud
New York, June 22 (Bloomberg) -- Stephen Drescher, former
corporate finance director at defunct Monroe Parker Securities
Inc., was charged today with scheming to manipulate initial
public stock offerings.
Federal prosecutors in New York accused Drescher of
manipulating some of the same IPOs at issue in the government's
case against Steven Madden, former chairman of Steven Madden
Ltd., a designer and retailer of women's shoes. Madden was
charged on Tuesday with stock fraud in connection with numerous
IPOs, including one by his own company. Charles Koppelman, an
outside director, was named acting chairman Wednesday, replacing
Madden, who remains as chief executive.
The 13-count indictment against Drescher alleges that he
conspired with Monroe Parker's principals, Bryan Herman and Alan
Lipsky, to artificially inflate IPO share prices in after-market
trading. Herman and Lipsky pleaded guilty to fraud last year.
``As a result, Monroe Parker earned substantial, undisclosed
underwriters' compensation,'' U.S. Attorney Mary Jo White said in
a statement.
Drescher's attorney could not be reached for comment.
According to the indictment, Drescher negotiated secret
pacts between Monroe Parker and officers and other insiders with
the companies issuing stock. The insiders agreed to sell their
stock holdings to Monroe Parker, which in turn sold the shares to
retail customers at inflated prices, prosecutors said.
The scheme was concealed from investors by sham lock-up
agreements that purported to prevent the insiders from selling
their stock for months, prosecutors said.
Among the IPOs were Netsmart Technologies Inc., Chem
International Inc., and Big City Bagels Inc., which has changed
its name to VillageWorld.com. Drescher is alleged to have
received ``substantial bonuses'' for his role.
Spokesmen with Islip, New York-based Netsmart and Hillsdale,
New Jersey-based Chem International did not return calls seeking
comment. A spokesman for VillageWorld said the company has new
management and board members and has divested itself of the bagel
operation.
Drescher surrendered to authorities this morning and faces
up to 10 years in prison on each of four securities fraud counts.
Madden is also accused of conspiring with Monroe Parker and
another brokerage, Stratton Oakmont Inc., now also defunct, to
inflate the price of IPOs.
--David Glovin in U.S. District Court in New York (212) 732-9245,
or at dglovin@bloomberg.net, through the New York newsroom (212)
893-3665/ep
Story illustration: for a graph of Chem International recent
stock performance: {CXIL US <Equity> COMP <GO>}.
Company news:
NTST US <Equity> CN
CXIL US <Equity> CN
VILW US <Equity> CN
NI Codes:
NI BNK
NI SCR
NI COS
NI LAW
NI FIN
NI NY
NI NYC
NI US
-0- (BN ) Jun/22/2000 18:25 GMT |
