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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: mmmary who wrote (4325)	12/18/2001 1:00:10 AM
From: Candle stick	Respond to of 4443

Why are you talking to me? You are responding to a post from 6 weeks ago, now? What is that supposed to be? Some kind of scare tactic for posting the good news today?....you have no credibility. I am not in the equity markets. Learn to read. Go away. P.S. Oh yeah, and thanks for drawing more attention to my previous post. It is the truth and exposes you for what you are.

To: mmmary who wrote (4325)	12/18/2001 3:15:45 PM
From: StockDung	Read Replies (1) \| Respond to of 4443

THE BATTLE RAGES ON stockpatrol.com Law enforcement authorities and securities regulators continue their assault on penny stock fraud. On March 8, 2001, the Securities and Exchange Commission announced that it had filed an enforcement action against 18 people who allegedly used boiler-room tactics to defraud investors out of millions of dollars. In related proceedings, the United States Attorney for the Eastern District of New York, the Federal Bureau of Investigation and the New York State Attorney General announced that criminal charges had been filed against 20 individuals involved with the scheme – including two persons said to be associates of the Gambino organized crime family. The SEC complaint focuses on activities at First United Equities Corporation, a now-defunct brokerage firm that underwrote initial public offerings for little-known microcap companies – including companies called Medical Financial Services, Inc. (MFS) and Ashton Technology Group, Inc. (Ashton). According to the SEC, after First United completed the MFS and Ashton IPOS, the brokerage firm and its principals continued to control large blocks of stock in those two companies. Registered representatives employed by First United then employed high pressure sales tactics and made misrepresentations in order to induce unsuspecting investors to purchase the MFS and Ashton stock. The SEC says that these salespersons not only misrepresented the prospects for MFS and Ashton, but also assured investors that no First United customers ever lost money. At times, they apparently went so far as to assure customers that First United would reimburse any losses – a practice that is prohibited since brokers are not permitted to guarantee customers against losses. When clients agreed to buy shares their orders were filled using MFS and Ashton stock that was held by First United or in nominee accounts controlled by principals of the brokerage firm. Those customers then found that they could not freely sell the stock. First United brokers vigorously discouraged sales and, when that didn’t work, they often ignored sell orders. In addition, the First United representatives made unauthorized purchases of the stocks for customer accounts – including the account of one deceased customer. In announcing the charges, SEC Enforcement Director Richard H. Walker stated : “Today's charges involve a classic boiler-room operation, carried out by individuals who were willing to tell any lie - no matter how brazen - in order to get their hands on the public's hard-earned money. These cases demonstrate our continuing commitment to rooting out fraud in the microcap market. Finally, for those who would contemplate engaging in this kind of activity, including members of organized crime, the most daunting news about today's action is that it is the result of outstanding coordination among the SEC, the U.S. Attorney for the Eastern District of New York, the FBI and the New York State Attorney General." Named in the SEC complaint were: Hunter Adams, a former de facto control person of First United Jason A. Cohen, formerly Chairman of First United Steven M. Cohen, formerly a registered principal of First United David Hirsch, a former de facto control person of First United Jonathan D. Winston, formerly Vice Chairman of First United John J. Gremmo, a First United Trader and the following First United Registered Representatives: James L. Bila Christian W. Blake Louis R. Facchini, Jr Roberto A. Mangiarano Joseph P. Mannino David M. Margules James J. Pellizzi David M. Pesso Michael Pugliese Christopher J. Russo Howard I. Weinstein Robert J. Winston (3/9/2001)