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


To: Anthony@Pacific who wrote (60933)10/19/2000 4:15:47 PM
From: StockDung  Read Replies (1) | Respond to of 122087
 
Teen defends stock promotion actions. 16-year-old settled with SEC for $285,000

By Steve Gelsi, CBS.MarketWatch.com
Last Update: 4:00 PM ET Oct 19, 2000 NewsWatch
Latest headlines

NEW YORK (CBS.MW) - A 16-year-old who settled SEC charges over alleged pump and dump schemes that netted him about $800,000 said in his first interview that he didn't do anything wrong.

Jonathan Lebed told CBS's "60 Minutes" that, "I wasn't posting any kind of false information" and that the stocks he plugged under assumed names resulted from genuine research on his part.

The segment is scheduled to air on Sunday.

Lebed's father Greg Lebed said, at least Jonathan "didn't sit behind a garage smoking pot, or stealing wheels off a car."

The family has a new $40,000 Mercedes, thanks to Jonathan.

Lebed, the youngest person ever to be charged with illegal stock dealing, promised the Securities and Exchange Commission to stop manipulating stock prices.

He turned over $285,000 to the SEC to settle civil charges that he committed fraud in stock deals that netted him $800,000.

SEC Chairman Arthur Levitt pointed out that Lebed "used fictitious names. He made predictions . . . without any foundation.

"The purpose . . .was not to help investors. . . but rather to line his own pockets as soon as he hyped the price of the stock."

Lebed's lawyer Kevin Marino said "I don't think . . .you could draw a principled distinction between what he did and what is done every single day of the week on Wall Street."

The SEC said Sept. 20 that it settled fraud charges with then-15-year-old Lebed. It was the first time the SEC ever brought charges against a minor.

The Cedar Grove, N.J. teen settled charges without admitting or denying the findings.

The SEC charged Lebed with carrying out a plan on 11 separate occasions to buy a block of a thinly-traded microcap.

Within hours of making the purchase, Lebed sent "numerous false and/or misleading e-mail messages" primarily to various Yahoo Finance message boards, touting the shares he had just bought, the SEC said.

CBS is part of Viacom (VIAB: news, chart), which also owns a large stake in MarketWatch.com, the publisher of this report.



To: Anthony@Pacific who wrote (60933)10/19/2000 4:28:15 PM
From: StockDung  Read Replies (1) | Respond to of 122087
 
Subj:Jonathan Lebed's FATHER "If my son was able to buy FAMH " and he even signed his sons name to the post; "Jonathan Lebed...predictions for tomorrow?"

Message 3116480
SI: StockTalk: Five Dollars and Under : FAMH - FIRAMADA Staffing Services

View Next 10 Messages | Respond | Previous | Next

To: Michael who wrote (848)
From: Jonathan Lebed Wednesday, Jan 7, 1998 5:11 PM ET
Reply # of 27860

That's surely a new one Michael. Anyway, I just got done reading 100 posts..took me a couple hours. If my son was able to buy FAMH in the Student Stock Game, they would of probably won!

Jonathan Lebed...predictions for tomorrow?


To: Jonathan Lebed who wrote (847)
From: Michael Wednesday, Jan 7, 1998 5:04 PM ET
Reply # of 27860

Jonathan,
Glad you answered that question for me. I was wondering what your son thought about FAMH. He's a smart son wouldn't you agree!!
Roll On The Floor Laughing My Ass Off
ROTFLMAO
Michael

To: Due Diligence who wrote (843)
From: Jonathan Lebed Wednesday, Jan 7, 1998 4:54 PM ET
Reply # of 27860

Yes it does! What the hell does ROTFLMAO mean? All he did was hold up a sign that read "FAMH", no one on CNBC even mentioned it. Sometype of CNBC reporter is going to be recording from his school tomorrow at 9AM and it will air at 4:50PM. I will make sure he mentions FAMH often explaining the potential. He does own 5,000 shares!
Jonathan Lebed

To: Jonathan Lebed who wrote (840)
From: Due Diligence Wednesday, Jan 7, 1998 4:46 PM ET
Reply # of 27860

Does that mean FAMH was featured on CNBC Monday? ROTFLMAO.
Jimbo

To: Due Diligence who wrote (839)
From: Jonathan Lebed Wednesday, Jan 7, 1998 4:36 PM ET
Reply # of 27860

EVERYBODY WATCH CNBC TONIGHT AT 4:50PM. They will do a segment on this student team called DDA Investors. Well tomorrow they will be doing that same thing at the same time with my son's student team, The Triple Threat. The interview will be taped tomorrow at his school and I am trying to get him to mention FAMH in some way shape or form. And if you watched CNBC at 4:50PM Monday, you would of saw him in a picture holding a sign the read "FAMH".

Jonathan Lebed