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To: Zardoz who wrote (78144)	10/9/2001 4:41:29 AM
From: Square_Dealings	Read Replies (2) \| Respond to of 116874

Interesting when I mention the word crook - Hutch appears...... M.

To: Zardoz who wrote (78144)	10/9/2001 7:24:03 AM
From: long-gone	Read Replies (1) \| Respond to of 116874

See Hutch, they are only humans not all of them good, nor all of them crooks, but there is(MASSIVE) proof some of them are rather nasty slimy scummy bastards: Talking Points: A Twofold Tragedy Monday, October 08, 2001 By Bill O'Reilly Email this Article Thousands of you wrote to us after our interview with Lynda Fiori, the young woman who said that the firm of Cantor Fitzgerald, where her late husband had been working when he was murdered by the terrorists, had not provided her and her two babies any assistance. That's the subject of this evening's Talking Points memo. William Hudson from Portland, Oregon, sent us this note: "Bill, I have been in law enforcement my entire adult life and thought I'd seen it all, but the callousness of Howard Lutnick, the CEO of Cantor Fitzgerald, made by blood boil. Please tell me where I can send a check to help Ms. Fiori." Thousands of Factor viewers wrote the same kind of generous sentiments, demonstrating a lot more class and concern than Howard Lutnick, who exploited the media after the terror attack and is now running for cover. But, to answer your question, Mr. Hudson, The Factor is going to make sure Lynda's family gets the support it needs from the proper authorities. We'll watch the situation very closely. The tragedy here is twofold. First, Mr. Lutnick's conduct has been troubling, to say the least. He couldn't wait to cry in front of Larry King and Connie Chung after the attack that killed 700 of his employees. Lutnick promised that all the families would be taken care of financially and even has a foundation set up that has accepted millions in donations. But, so far, little money has been given to the families in need, although Lutnick does have enough cash to pay a high-powered PR agency. Now, if the The Factor has Lutnick all wrong, he can easily come in here and explain himself. We've been barraged by his underlings saying the money is now going out. Well, fine. But Lutnick owes the country an explanation, and until he shows up and gives it, he is questionable, in my opinion. The second part of this story is the media that allowed Lutnick to cry and appear sympathetic but then didn't follow up on the story. Talking Points was suspicious from the very beginning because this Lutnick guy could not get in front of the cameras fast enough. Well, where is he now? The media has a responsibility to make sure what they present is honest and not to be hoodwinked. We broke the Cantor Fitzgerald story after talking with many of the families who are broken hearted. The company has not helped them in their time of need. Now things might change because Lutnick is under intense pressure, but that doesn't excuse his behavior and the behavior of the media, which allowed itself to be used. And that's the memo. foxnews.com

To: Zardoz who wrote (78144)	10/9/2001 7:51:07 AM
From: long-gone	Respond to of 116874

While not "on Wall Street" please review(yes there are crooks out there): Saturday October 6 7:46 AM ET Ariz. Woman Held for Bilking Investors TUCSON, Ariz. (AP) - A woman allegedly bilked about 1,000 investors out of $24 million over five years, a scheme she used to buy an expensive house, extravagant shopping sprees and exotic trips, investigators said. Maryanne Chisholm, 36, of Tucson was arrested Friday and charged with two counts of conducting an illegal enterprise, three counts of fraud, and 141 counts of sale of unregistered securities. Authorities said between March 1995 and June 2000, Chisholm allegedly offered stock nationally in Safari Media, a company dealing in computer-based technology and the music industry. Investigators said that despite a state order barring her from selling stocks, Chisholm solicited investments for two new companies. Court documents said proceeds from stock sales were transferred to Chisholm's private account. She also allegedly threatened to publish personal information of investors on a Web site if the investors agreed to testify before a grand jury. dailynews.yahoo.com

To: Zardoz who wrote (78144)	10/16/2001 4:35:21 PM
From: long-gone	Respond to of 116874

Tuesday October 16, 3:45 pm Eastern Time SEC orders Calif firm to pay $50,000 in fraud case WASHINGTON, Oct 16 (Reuters) - Federal regulators ordered the president of a California broker-dealer firm to pay back $50,000 and barred him from practicing for a year because one of his employees defrauded investors out of at least $450,000. Quest Capital Strategies Inc. President and owner David Chen Yu failed to properly supervise part-time salesman John Nakoski, who in 1992 and 1993 promised investors 15 percent interest on ``fixed income loan agreements,'' the Securities and Exchange Commission alleged on Tuesday. The Laguna Hills, California-based Quest has about 700 registered representatives throughout the country, the U.S. investor protection agency said in its civil complaint. ``The vast majority of the firm's representatives work out of their homes and sell securities part-time without on-site supervision,'' the SEC alleged. Quest was also ordered to pay back $50,000 in civil penalties. Lawyers for the defendants could not immediately be reached. SEC Chairman Harvey Pitt abstained from the commission's vote on the enforcement action. The SEC declined to comment on why Pitt abstained. biz.yahoo.com

To: Zardoz who wrote (78144)	10/18/2001 2:34:46 PM
From: long-gone	Respond to of 116874

In These Times SHELL GAME Citibank attacks money-laundering regulations by Lucy Komisar Citibank is leading a fight by American banks to gut the anti-moneylaundering laws currently being considered in Congress—laws that could significantly change the way banks do business for their wealthiest clients. Citibank is seeking an exception to a proposed ban on doing business with shell banks, which have no physical presence and are situated “virtually” in offshore zones to avoid taxes and regulations. The banks are used to hide and launder perhaps billions of dollars a year. “Citibank is the only major bank in the United States that admits to having shell banks as clients, and it doesn't want to give them up," says a congressional staffer, who spoke on condition of anonymity. "Citibank is the most active bank trying to gut the ban on shell banks, and the American Bankers Association is trotting behind them.” In an example of what having friends at the top can do for the financial services lobby, which is one of the largest and most powerful in Congress, Richard Small, director of Citibank’s anti-money-laundering department, lobbied the House and Senate committees to insert an exception that would allow U.S. banks to work with shell financial services companies, the staffer says. The clause was deleted in the House version, but at press time the Senate committee had yet to vote on the bill. “The House bill [makes it] look like they’re banning shell banks, but the exception makes the ban meaningless,” explains the staffer. Small, who until recently headed the anti-money-laundering office of the Federal Reserve, declined to comment. But a Citibank spokesman says that the banking conglomerate supports the legislation and that it is “working with U.S. government and industry associates to determine the most effective means to prevent the banking system worldwide from being used for criminal purposes.” Yet as recently as May, Citibank was forced to close two accounts held in its own offshore banks in the Bahamas and the Cayman Islands after a Senate investigation revealed that several million dollars in drug money had been laundered through the accounts. Both the accounts were from shell banks affiliated with financial services companies, for which Small was seeking the exception, and one with a securities firm linked to drug money. Citibank “closed the accounts of the two [banks] we reported on,” the staffer said, “but they have others.” The American Banking Association has been fighting along with Citibank to delete the “due diligence” clause in the legislation, which would require that banks make a concerted effort to verify the source of foreign funds they transfer or receive. Peter Blocklin, senior federal legislative representative for the ABA, told the New York Times that banks were “already doing due diligence.” But a congressional report released in March of this year said the opposite, charging four of the largest U.S. banks—Citibank, J.P. Morgan, Bank of America and First Union—with having inadequate money-laundering controls and weak due diligence practices. Sen. Carl Levin (D-Michigan), co-sponsor of the Senate bill, says the banks are in fact “asleep at the switch.” About $500 billion—or half of the global total—is laundered through U.S. banks each year, according to the Bureau of National Affairs. Jack Blum, a Washington lawyer who co-authored a U.N. report on offshore banking, estimates that $70 billion in taxes is lost every year when the richest U.S. taxpayers hide money in offshore banking accounts. Regardless, Republicans historically have been vehemently opposed to regulating money in U.S. banks, and the bills being considered are a radical about-face, brought about by the September 11 attacks as part of Bush’s anti-terrorism plan. In an area where the United States has been lax for decades, the proposed legislation is reasonably strong. But although the money-laundering controls are a significant step forward, they still ignore many of the problems in the U.S. banking and money-transfer system. The legislation permits, but does not require, the Treasury Department to stop U.S. banks from working with banks in countries where secrecy laws prevent cooperation with investigators (countries like the Cayman Islands and the Bahamas). It asks only a quick study of imposing regulations on investment companies and hedge funds, which are not currently regulated at all. And the Bush administration is not requiring suspicious activity reports (which banks are currently required to file for suspicious transactions over $10,000) from casinos, money transmitters like Western Union and stock brokerages—all of which, because they consistently handle large amounts of cash, are prime targets for money launderers. Until the United States closes these gaping loopholes in the system, the flow of illegal funds from the world’s wealthiest, and the world’s wealthiest criminals, will continue. inthesetimes.com

To: Zardoz who wrote (78144)	10/23/2001 7:23:17 AM
From: long-gone	Respond to of 116874

Then these weren't on Wall Street were they. Monday October 22, 3:09 pm Eastern Time NASD charges three traders with stock fraud NEW YORK, Oct 22 (Reuters) - The regulatory arm of the National Association of Securities Dealers Inc. on Monday charged three traders in a stock price manipulation scheme that it said put one securities firm out of business. NASD Regulation Inc. charged traders Jerome Rosen, Timothy Chamberlain and Robert Prager with joining a scheme with a U.S. fugitive and an individual barred from the securities industry. The group manipulated three million shares of H&R Enterprises stock obtained by Michael Mitton, a Canadian resident and U.S. fugitive, the NASD charged in a statement. Mitton got the stock at prices ranging between a penny and 50 cents a share. Mitton and his associates traded the shares among the three brokers at increasingly higher prices, pushing the stock from about $2 to $6.75 a share, the NASD said. They then sold out their positions, leaving unsuspecting brokerages holding shares worth only a fraction of what they paid for them, the agency alleged. Mitton and his associate David Heredia paid Rosen, Prager and Chamberlain 3 cents to 6 cents a share for participating in their scheme, the NASD charged. The NASD barred Heredia from the securities industry in 1998 after he worked at Stratton Oakmont, a defunct brokerage that has been charged with stock manipulation by regulators in the past. Saperston Financial, where Prager used to work, wound up buying 1.7 million H&R shares at about $6, only to watch the price fall below $2 in two days, the NASD said. Saperston, unable to cover the loss, was forced to close and its clearing firm had to cover the trades at a cost of $9 million, according to the agency. A second firm, J. Alexander Securities, owned about 600,000 shares that it bought at about $5.50 a share. One of the three traders, Rosen, worked at J. Alexander and the NASD earlier this year charged the company with failing to supervise two principals in its Florida branch office. Chamberlain used to work at Equitrade Securities Corp., which along with H&R was not charged with any wrongdoing. biz.yahoo.com