YET ANOTHER STRATTON OAKMONT FRAUDULENT BOILER ROOM PROMOTER TIED TO REGIS POSSINO/"CORPORATE FINANCIAL ENTERPRISES"
OSIN, POCO, WSST, AFTI, TEVT, CNES, LXTI, AND THTH
Personal Quote: Every time I held a rose, it seems i only felt the torns
Robert William Koch, II (Registered Representative, Katonah, New York) submitted an Offer of Settlement pursuant to which he was censured, suspended from association with any NASD member in any capacity for two years, and required to requalify by exam prior to becoming associated with any member firm. Without admitting or denying the allegations, Koch consented to the described sanctions and to the entry of findings that he made baseless and improper price predictions pertaining to highly speculative securities and engaged in unauthorized trading in a customer's account. The findings also stated that Koch improperly discouraged or refused to execute sell orders, improperly promised to limit losses, and made false and misleading disclosures as to risk. Furthermore, the NASD determined that Koch made false and misleading statements as to an issuer and falsely claimed access to inside information.
nasdr.com
Registrant:
Dailyfinancial.com (DAILYFINANCIAL-DOM)
324 Jay Street
Katonah, NY 10536
US
Domain Name: dailyfinancial.com Enter amount
Administrative Contact, Billing Contact:
Bob, Koch (BK6550) rwkice@AOL.COM
Dailyfinancial.com
324 Jay Street
Katonah, NY 10536
(877)285-5587
Technical Contact:
Harris, Lee (LH1027) lee@HARRISNET.COM
Harris Media
57 East 11th Street, 9th Floor
New York, NY 10003
212-822-8840 (FAX) 212-208-4607
Record last updated on 07-Mar-2001.
Record expires on 25-Feb-2003.
Record created on 25-Feb-1999.
Database last updated on 1-Sep-2001 03:10:00 EDT.
Domain servers in listed order:
RE:OSIN, rwk stands for Robert W Koch, Former Stratton Oakmont Principal
Registrant:
Dailyfinancial.com (DAILYFINANCIAL-DOM)
324 Jay Street
Katonah, NY 10536
US
Domain Name: dailyfinancial.com Enter amount (
Administrative Contact, Billing Contact:
Bob, Koch (BK6550) rwkice@AOL.COM
Dailyfinancial.com
324 Jay Street
Katonah, NY 10536
(877)285-5587
For Release:
Contact:
Other Contact: Thursday, October 16, 1997
Nancy A. Condon - (202) 728-8379
Barry R. Goldsmith - (202) 974-2850
NASD Regulation Brings Sales Practice Charges Against 33 Former Stratton Oakmont Principals and Brokers
Washington, D.C.¾ NASD Regulation, Inc., today announced that it has filed disciplinary charges against 33 former principals, brokers, and employees of the now defunct Long Island brokerage firm of Stratton Oakmont, Inc. The firm was expelled from the National Association of Securities Dealers, Inc. (NASD) in December 1996 because it posed "an on-going risk to the investing public."
Today’s complaint, which alleges a wide range of serious sales practice violations by 33 individuals, is one of the largest complaints of its type ever brought by NASD Regulation and results from a continuing investigation into Stratton Oakmont’s operations. The complaint alleges that 33 individuals, who were based at Stratton Oakmont’s headquarters in Lake Success, N.Y., engaged in a number of fraudulent sales practices and other misconduct from 1993 through 1996. NASD Regulation also alleges that in many instances, Stratton Oakmont used prepared scripts (six of which are part of the complaint) as part of their aggressive telemarketing efforts to sell speculative securities.
Today’s complaint identifies at least 70 specific customers who were allegedly victimized through fraudulent practices including: unauthorized trading; baseless or improper price predictions; inadequate or inaccurate risk disclosure; churning and excessive trading; sale of unsuitable investments to risk-averse customers; advising customers to disregard information in prospectuses; falsely promising to limit losses to a specific amount; claiming access to inside information; making false statements regarding specific securities and issuers; making improper comparisons to other stocks; tying the purchase of initial public offerings to a commitment to buy stock in the aftermarket; guaranteeing customers against loss; promising to make up losses with new trades; refusing to execute or aggressively discouraging orders to sell stocks; use of false and misleading scripts; supervision failures; falsifying account documentation; failing to appear for testimony before the NASD; and lying during testimony.
The complaint names the following principals:
Daniel M. Porush – President and principal owner.
Michael J. Albino – Director of Supervision.
Andrew T. Greene – Executive Vice President and Director of Corporate Finance.
Howard S. Gelfand
Jordan Shamah
Named brokers include:
Chad J. Beanland
Eric Blumen
Ira A. Boshnack
Stephen G. Buxton
Andrew S. Friedman
Dean S. Friedman
Kenneth J. Fuina
Daniel J. Gallagher
James W. Garofalo Jr.
Paul J. Greco
David S. Heredia
Robert W. Koch II
Thomas A. Niemczyk
George Patsis
Michael J. Raskin
Frank Riccuiti Jr.
Richard L. Ringel
Robert J. Rosato
Peter T. Rubenstein
Lawrence T. Smith
Robert F. Smith
Edward C. Sparacio
Michael A. Taliercio
Joseph Teseo
Peter T. Tsadilas
Bonnie C. Vandenberg
April Wiener
The complaint names the following research analyst:
Clifford B. Olshaker
Prior to its expulsion by NASD Regulation, Stratton Oakmont and its principals were repeatedly fined, censured and, in some cases, barred by federal and state securities regulators. Since June 1989, the firm and its principals have been the subject of numerous NASD Regulation disciplinary actions, including fines, censures, suspensions, and bars. In recent years, the Securities and Exchange Commission (SEC) and a number of state securities regulators around the nation have also sanctioned both Stratton Oakmont and its principals. In early 1994, the SEC settled an enforcement action against Stratton Oakmont and its President, Daniel M. Porush, after alleging that the firm engaged in securities fraud through its "boiler room" sales operation. By late 1994, the SEC had charged Stratton Oakmont with violating the settlement agreement and obtained a permanent injunction against the firm requiring future compliance. At the time of its expulsion in December 1996, the firm had been barred by a number of state regulators.
Stratton Oakmont is currently being liquidated in accordance with the Securities Investors Protection Act (SIPC) of 1970.
The filing of an NASD Regulation complaint represents the initiation of a formal proceeding. At this time, the allegations have not been proven and no decision has been made. Under NASD Regulation rules, the respondents can file a response to these charges and request a hearing before an NASD Regulation disciplinary panel. Possible sanctions include a fine, suspension, or bar from the securities industry.
Investors can obtain the disciplinary record of any NASD-registered broker or brokerage firm by calling 800-289-9999, or by sending an e-mail through NASD Regulation’s web site (www.nasdr.com).
NASD Regulation oversees all U.S. stockbrokers and brokerage firms. NASD Regulation, along with The Nasdaq Stock Market, Inc., are subsidiaries of the National Association of Securities Dealers, Inc. (NASDÒ), the largest securities-industry self-regulatory organization in the United States.
Investors who have questions should contact NASD Regulation at (301) 590-6500.
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google.com.
NASD Regulation Brings Sales Practice Charges Against 33 Former Stratton
Oakmont Principals and Brokers
NASD Regulation announced that it has filed disciplinary charges against 33
former principals, brokers, and employees of the now defunct Long Island
brokerage firm of Stratton Oakmont, Inc. The firm was expelled from the NASD
in December 1996 because it posed “an ongoing risk to the investing public.”
The complaint, which alleges a wide range of serious sales practice violations by
33 individuals, is one of the largest complaints of its type ever brought by NASD
Regulation and results from a continuing investigation into Stratton Oakmont’s
operations. The complaint alleges that 33 individuals, who were based at Stratton
Oakmont’s headquarters in Lake Success, New York, engaged in a number of
fraudulent sales practices and other misconduct from 1993 through 1996. NASD
Regulation also alleges that, in many instances, Stratton Oakmont used prepared
scripts (six of which are part of the complaint) as part of their aggressive
telemarketing efforts to sell speculative securities.
The complaint identifies at least 70 specific customers who were allegedly
victimized through fraudulent practices including: unauthorized trading; baseless
or improper price predictions; inadequate or inaccurate risk disclosure; churning
and excessive trading; sale of unsuitable investments to risk-averse customers;
advising customers to disregard information in prospectuses; falsely promising to
limit losses to a specific amount; claiming access to inside information; making
false statements regarding specific securities and issuers; making improper
comparisons to other stocks; tying the purchase of initial public offerings to a
commitment to buy stock in the aftermarket; guaranteeing customers against loss;
promising to make up losses with new trades; refusing to execute or aggressively
discouraging orders to sell stocks; use of false and misleading scripts; supervision
failures; falsifying account documentation; failing to appear for testimony before
the NASD; and lying during testimony.
The complaint names the following principals:
Daniel M. Porush, President and principal owner
Michael J. Albino, Director of Supervision
Andrew T. Greene, Executive Vice President and Director of Corporate Finance
Howard S. Gelfand
Jordan Shamah
Named brokers include:
Chad J. Beanland
Eric Blumen
Ira A. Boshnack
Stephen G. Buxton
Andrew S. Friedman
Dean S. Friedman
Kenneth J. Fuina
Daniel J. Gallagher
James W. Garofalo Jr.
Paul J. Greco
David S. Heredia
Robert W. Koch II
Thomas A. Niemczyk
George Patsis
Michael J. Raskin
Frank Riccuiti Jr.
Richard L. Ringel
Robert J. Rosato
Peter T. Rubenstein
Lawrence T. Smith
Robert F. Smith
Edward C. Sparacio
Michael A. Taliercio
Joseph Teseo
Peter T. Tsadilas
Bonnie C. Vandenberg
April Wiener
The complaint names the following research analyst:
Clifford B. Olshaker
Prior to its expulsion by NASD Regulation, Stratton Oakmont and its principals
were repeatedly fined, censured and, in some cases, barred by federal and state
securities regulators. Since June 1989, the firm and its principals have been the
subject of numerous NASD Regulation disciplinary actions, including fines,
censures, suspensions, and bars. In recent years, the SEC and a number of state
securities regulators around the nation have also sanctioned both Stratton
Oakmont and its principals. In early 1994, the SEC settled an enforcement action
against Stratton Oakmont and its President, Daniel M. Porush, after alleging that
the firm engaged in securities fraud through its “boiler room” sales operation. By
late 1994, the SEC had charged Stratton Oakmont with violating the settlement
agreement and obtained a permanent injunction against the firm requiring future
compliance. At the time of its expulsion in December 1996, the firm had been
barred by a number of state regulators.
Stratton Oakmont is currently being liquidated in accordance with the Securities
Investors Protection Act (SIPC) of 1970.
The filing of an NASD Regulation complaint represents the initiation of a formal
proceeding. At this time, the allegations have not been proven and no decision
has been made. Under NASD Regulation rules, the respondents can file a
response to these charges and request a hearing before an NASD Regulation
disciplinary panel. Possible sanctions include a fine, suspension, or bar from the
securities industry.
© 1997, National Association of Securities Dealers, Inc. (NASD). All rights
reserved.
Subj:Corporate Financial Enterprises is Regis Possino/Dutchess Advisors have promoted Possino stocks/ConectiSys Corp Regis Possino has a judgement with idaho securities SEC for selling unregistered securities in this stock /OSIN being promoted by Robert W. Koch
Daily Financial
IMPORTANT DISCLAIMER: Dailyfinancial.com is not a registered investment advisor or a broker dealer. All statements and expressions are strictly the opinion of Dailyfinancial.com. Statements and expressions made are not meant to be a solicitation to buy or sell securities. Dailyfinancial.com inc.(who along with its affiliates, directors,officers,representatives and agents is collectively referred to as Dailyfinancial.com or its published Dailyfinancial Report ) maintains this website as a service to its customers,who have paid for the publication of materials regarding their respective company or business. By using this website,you agree to the following terms of use, which Dailyfinancial.com may change at any time.
1. No advise or recommendations made by Dailyfinancial.com. The advertisements and materials relating to Dailyfinancial.com and its "report" respective customers are not intended to directly or indirectly provide advise as to the value of the securities of the companies described or as to the advisability of investing in, purchasing,holding or selling of such securities. Instead Dailyfinancial.com and its"report" customers have prepared and paid for this advertising; and the publications are not endorsements, recommendations, analysis or advisories of any nature by the publisher. Dailyfinancial.com and its "report" does not endorse any opinions or recommendations regardinmg the materials advertised,nor does it give tax advise or advocate the purchase or sale of any security or investment.
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3. No offer of securities. None of the materials or advertisments herein constitutes offers or solicitations to purchase or sell securities of the companies profiled herein and any decision to invest in any such company or other financial decisions should not be made based upon the information provided herein. Instead Dailyfinancial.com and its "report" urge you to conduct a complete and independent investigation of the respective companies and consider of all pertinent risks. Dailyfinancial.com and its "report" do not offer such advice or analysis, and further urges you to consult your own independent tax, business, financial and investment advisors.
4. Consideration for services. In consideration for the publication of the advertisements in this website and its "report" and the promotional services provided by both the Dailyfinancial.com website and "report", the advertised companies have paid cash or issued stock and/or options to Dailyfinancial.com as follows:
Carriage House Capital and its shareholders have paid Dailyfinancial.com $15,000 in cash to profile Politics.com (POCO) to profile and disseminate information.
Dailyfinancial.com who has been paid a cash fee of $5,000 and 3750 free trading shares of Wall Street Strategies (WSST) from R.H. Barsom and Co to diseminate information
Dailyfinancial.com was paid a cash fee of $30,000 from Corporate Financial Enterprises on behalf of Intergrated Communications Networks, Inc
Absolutefuture.com (AFTI) and its shareholders who have paid Dailyfinancial.com $15,000 in cash to profile and disseminate information.
Dutchess Advisors who have paid Dailyfinancial.com 50,000 free trading shares ahead of an anticipated 300,000 total shares of Technical Ventures (TEVT) to disseminate information and handle investor relations.
ConectiSys Corp: Symbol (CNES) who has paid Dailyfinancial.com 400,000 free trading shares and 250,000 restricted Rule 144 shares to profile and disseminate information.
Lexon Technologies: Symbol (LXTI) who has paid Dailyfinancial.com 500,000 free trading shares.
Dutchess Advisors who have paid Dailyfinancial.com 10,000 free trading shares of Optimum Source International Inc (OSIN) to disseminate information and handle investor relations.
Thinkpath Corp: Symbol (THTH) who has paid Daiyfinancial.com 90,000 free trading shares and 90,000 restricted Rule 144 shares to profile and disseminate information via investor relations.
5. We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission ("SEC") at www.sec.gov and/or the National Association of Securities Dealers ("NASD") at www.nasd.com . We also strongly recommend that you read the SEC advisory to investors concerning Internet Stock Fraud, which can be found at www.sec.gov/consumer/cyberfr.htm. Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its web site.
6. DAILYFINANCIAL.COM may act as a consultant to these companies reviewed in this publication. Investors should be made aware again that companies featured may pay consideration to DAILYFINANCIAL.COM and its published "REPORT" and/or its shareholders. Dailyfinancial.com ,editor or affiliate,agents and/or family may have equity interests or positions in the equity securities profiled in this publication, some of which may have been acquired prior to the dissemination of this report and may increase or decrease these positions at any time.
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Registrant:
Dailyfinancial.com (DAILYFINANCIAL-DOM)
324 Jay Street
Katonah, NY 10536
US
Domain Name: dailyfinancial.com Enter amount (min $200.00)
Administrative Contact, Billing Contact:
Bob, Koch (BK6550) rwkice@AOL.COM
Dailyfinancial.com
324 Jay Street
Katonah, NY 10536
(877)285-5587
Technical Contact:
Harris, Lee (LH1027) lee@HARRISNET.COM
Harris Media
57 East 11th Street, 9th Floor
New York, NY 10003
212-822-8840 (FAX) 212-208-4607
Record last updated on 07-Mar-2001.
Record expires on 25-Feb-2003.
Record created on 25-Feb-1999.
Database last updated on 31-Aug-2001 21:50:00 EDT.
dailyfinancial.com
CORPORATE RELATIONS PROGRAM:
Is your stock undervalued, under-traded or does it lack coverage? Does the media and investing public seem to ignore your press releases? Is your corporate image not conveying the right messages? Does your company lack the internal marketing and PR capabilities to launch a comprehensive program?
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COMING SOON:
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--------------------------------------------------------------
from rwkice@AOL.COM profile
Member Name: Bobby
Location: Westchester N.Y.
Sex: Male
Marital Status: single,but not for long
Hobbies: playing cards and around.
Occupation: investment banker,internet consulting
Personal Quote: Every time I held a rose, it seems i only felt the torns |
