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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 (80728)	10/2/2002 9:39:54 PM
From: StockDung	Respond to of 122087

Day of reckoning for corporate "bad guys" By Bill Berkrot NEW YORK, Oct 2 (Reuters) - "We aim to put the bad guys in prison and take away their money." Sounding a bit like John Wayne from an old Hollywood Western, U.S. Deputy Attorney General Larry Thompson voiced the simple goal of authorities as they took aim at bringing down Andrew Fastow, one of the key players at the center of the collapse of Enron Corp <ENRNQ.PK> . While Thompson was speaking about the case of the former Enron chief financial officer, he could easily have been referring to other high-profile figures involved in major corporate scandals who on Wednesday also took the long walk to the halls of justice. Douglas Faneuil, a key figure in the ImClone-Martha Stewart insider trading probe, and three members of the Rigas family, who allegedly looted cable TV company Adelphia Communications Corp., were also forced to face the music Wednesday. Escorted by FBI agents, a grim-looking Fastow, wearing a gray suit, red tie and government-issued bracelets securing his hands behind his back, arrived at Houston's federal courthouse just blocks from the former office where he allegedly cooked up the schemes that helped destroy the energy giant. The highest-ranking Enron official charged in the Justice Department's criminal probe, Fastow, 40, was charged with securities fraud, wire fraud, mail fraud, money laundering and conspiracy over secret, complex deals struck by the energy company. If convicted, Fastow faces maximum penalties of 20 years in prison for money laundering, 10 years for securities fraud, five years each for mail and wire fraud, and from five to 20 years for the conspiracy charges, officials said. The government was seeking forfeiture and freezing of a total of $37 million allegedly derived from illegal activity at Enron by Fastow and his family members. Fastow was expected to be released on a $5 million bond -- a mere fraction of the billions lost in the Enron collapse. His lawyer, John Keker, said that Fastow never believed that he was committing a crime while working for Enron and said Fastow "...welcomes the opportunity to prove the truth about Enron." In contrast to a pale-looking Fastow, a seemingly relaxed Faneuil, 27, arrived at the FBI building in New York with his attorneys. The Merrill Lynch brokerage assistant pleaded guilty to a misdemeanor in Manhattan federal court, where he was charged with accepting gifts in exchange for not telling authorities what he knew about a controversial stock sale now under investigation. The criminal complaint against Faneuil did not mention Martha Stewart by name, but cited details of a stock sale nearly identical to Stewart's sale of nearly 4,000 shares of ImClone Systems Inc. <IMCL.O> stock a day before the biotechnology company announced its experimental cancer drug would not be reviewed by U.S. regulators, sending the share price plummeting. While Faneuil faces a maximum sentence of one year in prison, he was released in his own recognizance and will most likely avoid jail in exchange for testimony that could spell trouble for domestic diva Stewart and his boss at Merrill, Stewart's broker, Peter Bacanovic, who was also broker to former ImClone chief Samuel Waksal. Merrill Lynch on Wednesday announced that both Faneuil and Bacanovic had been fired. The two had been on paid leave since June. Also in New York, Adelphia founder and former Chief Executive John Rigas, 78, and sons Timothy and Michael -- also senior company executives -- who were taken from their homes in handcuffs in July, pleaded not guilty in U.S. District Court to charges of conspiracy and securities, wire and bank fraud for alleged actions that helped drive the cable company to bankruptcy. The Rigas' were accused of improper use of company funds for everything from personal loans to constructing a $13 million golf course on the senior Rigas' property. All three Rigas family members pleaded not guilty to the charges on Wednesday. The government is seeking $2.5 billion in forfeitures, representing illegal proceeds from the alleged scheme. The maximum sentences for conspiracy and wire fraud are five years in prison and a $250,000 fine. Securities fraud carries a maximum of 10 years in prison and a $1 million fine for each count. Bank fraud carries a maximum of 30 years in prison and a $1 million fine. With words that could bring a shudder to other corporate executives, Thompson said Wednesday's legal action against Fastow, "moved the government that much closer to securing just punishment and recompense for the truly massive fraud that has been directed against America's investors." 10/02/02 20:03 ET Copyright 2002 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. All active hyperlinks have been inserted by AOL.

To: SEC-ond-chance who wrote (80728)	10/2/2002 9:48:42 PM
From: StockDung	Respond to of 122087

SKY CAPITAL HOLDINGS ANALYST THAT RECOMMENDED POLYMEDICA CORP USED TO WORK FOR H. J. MEYERS ACCORDING TO HER CRD. MORE EVIL FROM H.J. MEYERS. ITS NO WONDER WHY RAY DIRKS WAS HYPING PLMD ON BLOOMBERG EVEN THOUGH HE SAID DIRKS AND COMPANY DID NOT HAVE A POSITION IN THE STOCK. Sky Capital LLC Investment research issues "STRONG BUY" on PolyMedica 12-Month Price Target of $40 July 9, 2002 (NEW YORK, NY) - Sky Capital LLC, an investment research and banking firm with offices in New York and London, today initiated research coverage of PolyMedica Corporation (NASDAQ:PLMD) with a "Strong Buy" recommendation. The report, prepared by the firm's director of research Sharon di Stefano, cited PolyMedica's outstanding revenues and earnings gain over the past three years and established a 12-month price target of $40 per share. PLMD closed July 8 at $24.99 per share. Ms. di Stefano's report noted the company's annual revenues and earnings growth rates over the past three years of 33 percent, respectively, were due largely to its subsidiary, Liberty Medical, a national distributor of diabetic supplies to medicare beneficiaries. She cited that the company's stock currently trades at a greater than 40 percent discount to the mean P/E of a peer group. PolyMedica Corporation, headquatered in Woburn, Mass., is a medical products and services company with the leading franchise in the distribution of diabetic supplies to type 1 and type 2 senior adults. Sky Capital LLC is the investment arm of Sky Capital Holdings, Ltd., which recently became a publicly traded company on the AIM market in London ### Sky Capital Holdings Ltd Names Ray Dirks as Managing Director of Institutional Sales and Adam Harrington Managing Director of Retail Sales at Sky Capital LLC New York, August 19, 2002 - Sky Capital Holdings Ltd today announced the appointment of Ray Dirks as Managing Director of Institutional Sales and Adam Harrington as Managing Director of Retail Sales of Sky Capital LLC, the firm's U.S.-based brokerage entity. Mr. Dirks, a legendary Wall Street securities analyst, will be responsible for building Sky Capital's institutional sales efforts in the United States. Formerly of Dirks & Co., a well-known research and brokerage firm, Mr. Dirks grew to prominence when he uncovered the Equity Funding fraud in 1973, which led to a landmark legal victory before the U.S. Supreme Court. "Ray Dirks provides an enormous amount of experience and acumen in the financial services arena. As Sky Capital builds its operations he will be an integral part of our growth," said Michael Recca, president of Sky Capital LLC. Mr. Dirks is bringing with him a core group of skilled professionals to accelerate the firm's institutional reach and will be adding capable, experienced and senior level executives to his staff. Adam Harrington has been named to the position of Managing Director- Retail Sales. He will be responsible for spearheading the growth of Sky Capital's retail sales operation in New York. Following approval by the Financial Services Authority (FSA) in Great Britain, Mr. Harrington will also take on responsibility for the Company's brokerage initiative in the United Kingdom, where Sky Capital Holdings Ltd recently floated a successful initial public offering on the Alternative Investment Market of the London Stock Exchange (SKY.L). He will also be developing sales strategies for the firm in other European markets. Mr. Harrington has also brought with him additional experienced investment sales professionals to facilitate the launch of the company's retail sales activities in the United States. Mr. Harrington has considerable experience in the securities industry having held senior positions with a variety of companies. From January 2000 to August 2002 he was Senior Vice-President of the Thornwater Company, an investment bank. During 1999 Adam was President and CEO of Internet retailers, Catalogue.com, Inc. and DVDflix.com, Inc. From 1995-1999 he was a registered representative and an equity owner of New York-based broker/dealer, Roan Capital Partners. He also has experience in working in the Emerging Markets Division of the Securities and Exchange Commission (SEC) and has a degree in International Business from Hofstra University of New York. Ross Mandell, CEO Sky Capital Holdings Ltd, commented: "I am delighted to announce the appointment of Adam Harrington to Sky Capital's senior management team. He is an immensely capable executive with experience at the highest management levels. I am confident that he is the right person to execute our strategy of expanding Sky's sales operations within both the U.S. and European markets. Following our recent successful listing on the Alternative Investment Market (AIM) of the London Stock Exchange I believe that a new chapter is opening in the corporate history of Sky Capital. People of Adam's caliber and experience are ideally suited to help us expand on our existing successes." About Sky Capital Holdings Sky Capital Holdings Ltd. is a recently incorporated company established to provide financial and investment advisory services to corporate clients and private individuals both in the United States and the United Kingdom, and eventually the rest of Europe. The Company has two wholly owned subsidiaries: Sky Capital LLC in the United States, and Sky Capital Ltd. in the UK. Based in two of the most important financial centres in the world – New York and London – Sky Capital Holdings addresses the need for financial advice and working capital customized for small and medium sized companies with market capitalisations of $10 million to $100 million.