Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Brasco One who wrote (68000)	3/8/2001 1:12:58 PM
From: StockDung	Respond to of 122087

Web's `Tokyo Joe' Agrees to Pay $754,630 to Settle SEC Charges Washington, March 8 (Bloomberg) -- Internet stock pundit ``Tokyo Joe'' Park agreed to pay $754,630 to settle Securities and Exchange Commission fraud charges, SEC officials said. The SEC alleged that from July 1998 to June 1999, Park, one of the best-known stock pickers on the Web, urged investors to buy stocks without disclosing that he owned the securities and planned to sell them. Park, whose real name is Yun Soo Oh Park, agreed to pay $429,696 in fines and to surrender $324,934 in allegedly illegal profits and interest, said Mary Keefe, head of the SEC's Chicago regional office. ``This sends a very strong message to advisers who operate on the Internet that any violations of anti-fraud provisions will result in this kind of action,'' Keefe said. Park agreed to settle the SEC charges without admitting or denying misconduct. In an interview last month, Tokyo Joe said, ``It's time to move on. Lawyers have made enough money off of me. I and other Internet traders learned a valuable lesson, which is to make full disclosure.'' The SEC lawsuit, filed in January 2000, also alleged he failed to disclose that he was paid shares by DCGR International Holdings, a cigar maker, to promote its stock. Tokyo Joe also exaggerated his advertised investing performance by as much as 2,000 percent, the suit contended. Mar/08/2001 12:48 ET For more stories from Bloomberg News, click here. (C) Copyright 2001 Bloomberg L.P.

To: Brasco One who wrote (68000)	3/8/2001 1:15:51 PM
From: StockDung	Read Replies (2) \| Respond to of 122087

Former Teletek Executive Sentenced to Seven Years, Paper Says Las Vegas, March 8 (Bloomberg) -- Teletek Inc.'s former president, Keith Shwayder, was sentenced to seven years in jail for racketeering, conspiracy, money laundering and stock fraud, the Rocky Mountain News reported. Shwayder, 62, was found guilty in December 1999. Prosecutors alleged he and other executives of the pay-phone company conspired to drive up the price of the company's stock by bribing brokers and promoters with cash and stock, the paper said. He was also convicted of reaping more than $622,000 in profits from insider trading of Teletek stock. Shwayder, who is the grandson of Samsonite Corp's founder, was also ordered to pay more than $1.5 million in restitution for the stock promotion plan that cost investors almost $5 million, the paper said. Neither Shwayder or his attorney could be reached for comment, the paper said. U.S. District Judge Philip Pro said the sentence, a year short of the maximum, was imposed because Shwayder lied on the witness stand during his trial. (Rocky Mountain News Interactive 3-8) Mar/08/2001 12:09 ET For more stories from Bloomberg News, click here. (C) Copyright 2001 Bloomberg L.P.