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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: jeffbas who wrote (13915)	2/12/2002 8:57:16 PM
From: Bob Rudd	Respond to of 78704

Jeffrey: Based on the definition you provided, "any deliberate misrepresentation of the truth or a fact used to take money, rights, or other privilege or property away from a person or persons", ELN probably qualifies as do a lot of other companies...the word 'any' erects a big tent. I chose the phrase "massive fraud" in an attempt to convey the idea of a company, or a major part of it, that is a complete sham, an artifice...the products aren't real, the results are faked, it's a house of cards. I would expect THAT condition to be unlikely. OTOH, I would agree that ELN, run by 3 accountants and encouraged by US IB's, according to a Financial Times article, did push the envelope on aggressive accounting which would probably qualify for the above definition, but probably will not end up being actionable.