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Technology Stocks : PALM - The rebirth of Palm Inc. -- Ignore unavailable to you. Want to Upgrade?

To: mr.mark who wrote (1809)	9/20/2000 9:45:21 PM
From: Mang Cheng	Read Replies (2) \| Respond to of 6784

(OT OT)This news sure sounds like a few of us on this thread, this sounds like a pretty bright kid anyway : "SEC settles teen Internet stock fraud case" WASHINGTON, Sept 20 (Reuters) - The Securities and Exchange Commission settled on Wednesday a case against a New Jersey teen who allegedly made more than $272,000 in profit from an Internet stock fraud manipulation scheme. Without admitting or denying the charges, Jonathan Lebed, 15, agreed to repay the money he allegedly made plus interest for a total of $285,000, the SEC said, adding it was the first time it brought charges against a minor. In settling the matter, Lebed's attorney said: ``Mr. Lebed feels this is a fair settlement and he and his family are happy to put this matter behind them.'' Lebed, of Cedar Grove, N.J., was 14 years old when he bought a large block of a small, thinly traded microcap stock, then began touting the shares on Yahoo! message boards, the SEC complaint said. He was also accused of trading in the stocks of several other companies in which he had taken positions. The postings he made included baseless price predictions and other false and/or misleading statements, said the SEC. In one instance, Lebed claimed that a company trading for $2 a share would go for more than $20 a share ``very soon''. Other messages said that a stock would be the ``next stock to gain 1,000 pct,'' and was ``the most undervalued stock ever,'' the SEC alleged. Lebed's postings always caused the price and volume of the touted stocks to rise dramatically, the SEC contended. Within 24 hours, he sold all of the shares, profiting from the increase in price that his messages caused. Lebed's profits on each trade ranged from at least $11,000 to nearly $74,000, the civil complaint said. The stocks involved include Manchester Equipment Co. , Just Toys Inc. , Yes! Entertainment Inc. , Fotoball USA Inc. , Man Sang Holdings Inc. , West Coast Entertainment Corp. , Havana Republic Inc. , Classica Group Inc. and Firetector Inc. . biz.yahoo.com Mang <Mr. Mark, restrain your bullishness here :-)>