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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: bigbuk who wrote (77437)	6/4/2002 10:41:05 PM
From: mmmary	Read Replies (2) \| Respond to of 122087

Great article, definitely pyramid schemes especially if you look at penny stock companies. Some are more than just stock scams. Just a "legal" pyramid of insiders selling nothing to finance companies and promoters who hope to sell the same nothing to the first wave of investors for profit. Then that wave of investors finally realizes they have nothing so they then sell their nothing shares to the next wave. Throw in some self dealing, huge salaries and options just to make it interesting. After a couple of pump and dump waves, the gig is up, people realize there is no real business, stock goes to zero, SEC may or may not step in, a wrist may be slapped though generally not. Then just rinse the shell and repeat. You can even use the same people and "product." Just ask Paul Metzinger who's been doing this for 30 years. Never had a profitable company yet keeps trying by starting new companies. Is he persistent or "what?" ;-)

To: bigbuk who wrote (77437)	6/5/2002 4:25:48 PM
From: CIMA	Read Replies (1) \| Respond to of 122087

Stock Trader in 9/11 Probe United States (Jun. 05, 2002 - 06:00) SAN DIEGO (AP) -- An Egyptian-born financial analyst who prosecutors said may have had prior knowledge of the Sept. 11 attacks agreed Tuesday to be returned to New York to face charges of using confidential FBI information to manipulate stock prices. Amr I. "Tony" Elgindy will remain held without bond in San Diego until he is moved. A spokesman for the U.S. marshal's office would not say exactly when he would be moved. Elgindy, 34, of Encinitas, waived his right to fight extradition at a brief hearing Tuesday. His attorney, Jeanne Knight, did not return a message seeking comment. In a telephone interview from jail, Elgindy told the Los Angeles Times that the terrorist allegations were raised because "of my birthplace, my name, the color of my skin." He also said that all the material he used to focus on stocks was gathered through public sources. Federal authorities arrested Elgindy last month on an indictment issued by a New York grand jury, charging him with insider trading, securities fraud, extortion and obstruction of justice. He is accused of bribing an FBI agent to give him secrets from federal criminal databases and then using the information to make money in the stock market. A current and a former FBI agent were among four others charged in the conspiracy. At a May 24 detention hearing in San Diego, a federal prosecutor said Elgindy may have known about the Sept. 11 attacks and tried to profit from them. Elgindy telephoned his broker on Sept. 10, asked him to liquidate his children's $300,000 trust account, Assistant U.S. Attorney Ken Breen said. The defendant also made a comment that the Dow Jones industrial average, then trading at about 9,600, would drop to 3,000, Breen said. "Perhaps Mr. Elgindy had pre-knowledge of the Sept. 11 attacks," he said. "Instead of trying to report it, he tried to profit from it." Breen said that Elgindy had $2 million invested in positions that would have benefited from a market collapse.