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.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (93510)	10/12/2001 10:29:38 AM
From: dkgross	Respond to of 150070

wonder if KKRS is still in bed with ECNC? I've been ignoring both of them :>)

To: Jim Bishop who wrote (93510)	10/12/2001 11:14:00 AM
From: Taki	Read Replies (1) \| Respond to of 150070

WOW JIM.UNBEL.(COMTEX)B: SEC Alleges Manipulation of Several Small Cap Stocks B: SEC Alleges Manipulation of Several Small Cap Stocks Ridgeland, MS, OCT 12, 2001 (EventX/Knobias.com via COMTEX) -- Wamex Holdings Incorporated (OTC WAMX), Ramoil Management, Ltd. (OTC RAMO), and Absolutefuture.com (OTC AFTI) have each been included in an SEC Press Release, regarding alleged sptock manipulation schemes in theses company's publicly traded securities. The following is excerpted from the note put out by the SEC. SEC PRESS RELEASE: The Securities and Exchange Commission announced today that it filed four complaints in the United States District Court for the Southern District of New York alleging that in 1999 and 2000, Edward A. Durante and other defendants manipulated the trading and generated artificial price rises in the stocks of four companies: U.N. Dollars Corp., WAMEX Holdings, Inc., Ramoil Management, Ltd., and Absolutefuture.com. Defendants reaped more than $30 million in illegal profits by secretly controlling the trading in these stocks... The filing of these complaints comes as part of coordinated investigations by the staff in the Commission's Washington headquarters, New York and Boston offices, and the United States Attorney's Office for the Southern District of New York. The complaints allege that Edward Durante, using the name "Ed Simmons," established an offshore finance company, Carib Securities Ltd., in 1999 to hide his personal involvement in the manipulation schemes. In particular, the complaints allege the following: * Durante manipulated the market for U.N. Dollars Corp. ("UNDR"), driving the stock price from one penny to over $1.25 before the Commission suspended trading in UNDR securities in March 2000. He contracted with UNDR's former executives to "stimulate" the company's stock price and trading volume, and in return, received 10 million newly-issued shares, which gave him control of UNDR's public float... * Durante and Roger DeTrano, a New York-based stock promoter, gained control of over 19 million shares of WAMEX Holdings, Inc. ("WAMX") with the assistance of the company's executives. Durante drove the price for WAMX stock from $1.375 per share to an all-time high of $19.50, and dumped 6.9 million WAMX shares into the market for a $24 million profit, before the Commission suspended trading in WAMX securities in June 2000... * Durante entered into an illegal funding scheme with Ramoil Management, Ltd. ("RAMO"), in which RAMO provided a million shares of its stock to Durante's offshore entities pursuant to sham consulting agreements. Durante had his broker for the offshore accounts execute a series of manipulative public trades in RAMO stock that moved RAMO's price from $7.0625 per share to an all-time high of $20.00. Durante dumped 1.8 million shares of RAMO into the market, making approximately $3.3 million... * Durante and DeTrano entered into an illegal funding scheme with Absolutefuture.com ("AFTI") pursuant to which AFTI provided 4.1 million shares of its stock to entities controlled by Durante and DeTrano...Durante used those shares, along with an additional 3.3 million shares which he purchased on the market, to engage in manipulative trading activities, including matched orders and illegal block trades, which increased AFTI's stock price from $0.21 per share in December 1999 to $6.00 per share in March 2000, an increase of more than 2,700 percent... As a result of the conduct alleged in the complaints, Durante and his offshore entities...are alleged to have violated the antifraud and registration provisions of the securities laws. The Commission seeks permanent injunctions, disgorgement of proceeds, prejudgment interest thereon, civil money penalties, and officer and director bars against Durante et.al... The Commission acknowledges the assistance of the United States Attorney's Office for the Southern District of New York, the Federal Bureau of Investigation, and the British Columbia Securities Commission in these matters