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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: afrayem onigwecher who wrote (6310)	10/6/2000 1:03:17 AM
From: StockDung	Read Replies (1) \| Respond to of 19428

Hey IAASIC, hows that law suit of your coming along? Staten Island broker pleads guilty to racketeering NEW YORK, Oct 5 (Reuters) - A Staten Island, New York, stockbroker accused of bilking investors of more than $100 million pleaded guilty to federal racketeering and conspiracy charges, U.S. Justice Department officials said on Thursday. Robert Catoggio, 42, was the lead defendant of 60 people charged in June 1999 in a stock fraud scheme that allegedly extended over an eight-year period. The Justice Department said the scheme included four separate brokerage houses and involved the manipulation of more than 17 different securities. Catoggio was charged with using various means to manipulate the market prices of several OTC Bulletin Board and small cap stocks. He and his accomplices would acquire large stakes in these stocks and use their firms to inflate the price "by creating artificial demand," the Justice Department said in a statement. The defendants would then sell the stock at a substantial profit, the department said. With Catoggio's plea, 54 defendants have pleaded guilty, with the remaining six defendants scheduled for trial in the U.S. District Court in the Eastern District in Brooklyn. Catoggio faces a maximum sentence of 20 years in prison and as much as $200 million in fines based on the amount of the victims' losses. Catoggio was not immediately available for comment. 23:56 10-05-00