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

To: SEC-ond-chance who wrote (80230)	9/17/2002 7:29:28 PM
From: Sir Auric Goldfinger	Read Replies (2) \| Respond to of 122087

Yup: Kurtz: "FORMER IRS ATTORNEY, FOUR OTHERS CHARGED IN MULTI-MILLION DOLLAR SECURITIES FRAUD SCHEME" Tsai: "FORMER CEO OF SURGILIGHT INC. INDICTED FOR FRAUD AND MONEY LAUNDERING IN $1.7 MILLION STOCK MANIPULATION" Frankie Goelo sure keeps great company. Not wonder he is victrolic & litigious, lookit who he sleeps with...

To: SEC-ond-chance who wrote (80230)	12/19/2002 9:01:19 PM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 122087

Aha said Oddjob! Perhaps this why Goelo is so quiet, he is in JAIL (special FG emphasis): Score One SCRO -SREA HK nabs 19 for alleged bribery in IPO scam December 19, 2002 HONG KONG HONG Kong's anti-graft body on Tuesday arrested 19 people for alleged bribery scams related to the listing of three small manufacturers on the stock exchange. Those arrested included the chairmen of the three companies, a certified public accountant, a financial consultant, a senior manager of an accounting firm and 13 others from the companies, the Independent Commission Against Corruption (ICAC) said in a statement. The chairmen of Gold Wo International Holdings Ltd, Yue Fung International Group Holding Ltd and Fu Cheong International Holdings Ltd were among those detained, the South China Morning Post and Ming Pao Daily reported yesterday, without quoting anyone. A senior manager from Ernst & Young LLP was also among the detainees, Ming Pao Daily said. Ernst & Young's Hong Kong spokeswoman Annesa Leung said the firm has no comment on the case. Shares of the three companies were suspended on Monday. Gold Wo manufactures plastic household products, and Yue Fung is in electronic products such as calculators and digital cameras. Fu Cheong makes circuit boards. A financial consultant accepted 'substantial' bribes from a number of company chairmen and conspired with a certified public accountant and the companies to overstate profits to meet a listing criterion requiring minimum net income of HK$50 million (S$11.2 million) for the three years preceding the listing, the ICAC said. The companies were also alleged to have used bogus business transactions supported by false letters of credit and false sales invoices to inflate sales, ICAC said. - Bloomberg google.com ione.com.hk news.google.com targetnewspapers.com icac.org.hk 216.239.51.100

To: SEC-ond-chance who wrote (80230)	12/20/2002 10:24:04 AM
From: StockDung	Read Replies (1) \| Respond to of 122087

Sights set on former New Tel directors By Colin Kruger December 21 2002 New Tel's administrators yesterday admitted that the company's assets would probably fall short of the $40 million to $50 million needed to cover the creditors' bill, but said that liquidation could arm them in the hunt for a new source of funds: New Tel's former directors. Administrators PricewaterhouseCoopers said yesterday that liquidation could be in the creditors' best interests. It is expected to recommend this at a creditors' meeting next month. "It would have to be a spectacular offer to tempt creditors away from liquidation at this stage," New Tel administrator Phil Carter said. While he would not speculate on likely action, Mr Carter pointed out that liquidation would give the firm a "suite of actions" against directors and other office holders. "I would believe there would be a significant opportunity cost to be forgone if we don't go down the liquidation path," he said. In liquidation, administrators can investigate and legally undo preferential payments to creditors up to six months before administration, uncommercial transactions going back two years, and related party transactions going back four years. The administrators can also take action against directors and other officers if New Tel is proven to have traded while insolvent since mid-October. And the administrators' net may catch some unlikely fish, with Mr Carter pointing out that the Corporations Law covers parties who "effectively acted as directors, or influenced the business". While he would not be drawn on who fits this profile, would-be rescuer Richard Steggall and his company BWL are alleged to have worked closely with New Tel before administration. A number of current and former New Tel directors could also face closer scrutiny through the provisions for related party transactions. New Tel's accounts have revealed that Deloitte Touche Tohmatsu, headed by former New Tel director Dominic Martino, received $4.7 million in consulting fees alone in the 2000 and 2001 financial years. Law firm Freehills & Associates received about $2 million over the same period while the firm's partner Paul Evans was a director. Another $8.2 million was paid to Liao An Zhou's Hong Kong-based Xinhua Holdings, which New Tel described as a commercial arm of the Chinese Xinhua News Agency. Whatever the outcome, BWL's involvement with New Tel may be over as of this week, as formal offers presented to creditors by Mr Steggall this week were turned down. "On the basis of the discussions I had [on Thursday], I'm not expecting him to come back," Mr Carter said. This story was found at: smh.com.au