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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey S. Mitchell who wrote (1380)	4/16/2001 8:43:19 AM
From: zonkie	Respond to of 12465

Three Guilty Pleas in Stock Scams James Labate, a wannabe mobster whose bugged downtown Manhattan brokerage house was the focal point of the feds' 121 defendant Mob on Wall Street case, pleaded guilty to racketeering charges last week. Labate, (left) a mob associate who hoped to use lucrative stock schemes and pension fund rip-offs as a springboard into the Bonanno family, instead bought himself about six years worth of accommodations in federal prison. And while he engaged in some tough talk during the five months his office was bugged, Labate did not plead guilty to any acts of violence in a deal worked out by prosecutors and Labate's lawyer, Mark Wasserman. Colombo associates Sebastian Rametta (right) and James Chickara also copped guilty pleas last week, bringing the number of convictions to 60, according to Gang Land's unofficial count. Six defendants have been acquitted and 55 still await trial, although more guilty pleas are expected. Rametta, the CEO of Ranch#1, a chain of fast food outlets that features grilled chicken sandwiches, and Chickara, (left) the Ranch#1 vice chairman, pleaded guilty to securities fraud and expect to receive sentences of 10 to 16 months. Rametta, 35, and Chickara, 46, were also major stockholders in Manhattan Soup Man, which distributes prepared soups to New York area restaurants. Both companies were part of stock swindles with Colombo associate/stockbroker Frank Persico, according to court records. "This is a gourmet soup made famous by Al Yeganah, the famous Soup Nazi on (the hit TV show) Seinfeld," Chicakara told Persico on Jan. 13, 2000, minutes before he exploded in anger at his crew of corrupt brokers. The conversation, which Gang Land reported last week, sums up the "anything goes" methods Persico (right) and his mob cronies used in their $50 million stock swindles. "Alright. There's something ....called the 'Know Your Client Rule.' Now I don't expect you to know everything about your client, but I do expect you to know when your client is f**king alive or dead. Now this guy Rogers died on Dec. 1. There were 11 trades done after Dec. 1. His executor is calling up the company asking for an explanation...." ganglandnews.com