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To: jmhollen who wrote (118984)9/8/2003 11:56:51 PM
From: StockDung  Respond to of 150070
 
"The two were charged in U.S. District Court in Brooklyn and released on bail. If convicted, Wise, 43, of Manalapan, and Vindman, 32, of Marlboro, could be sentenced to 25 years in prison and fined $250,000 or twice the amount of the fraud."



To: jmhollen who wrote (118984)9/8/2003 11:58:02 PM
From: StockDung  Respond to of 150070
 
"The investors bought the grossly and artificially inflated stock based on the recommendations of brokers bribed by the defendants, when, in truth, the company was barely staying afloat," D'Amuro said."



To: jmhollen who wrote (118984)9/8/2003 11:58:58 PM
From: StockDung  Respond to of 150070
 
"Like snake-oil salesmen, these defendants sought to line their pockets at the expense of numerous individual investors," said Pasquale D'Amuro, assistant director in charge of the FBI in New York."



To: jmhollen who wrote (118984)9/9/2003 12:00:42 AM
From: StockDung  Respond to of 150070
 
"The government alleges that to further their scheme, Wise and Vindman recruited two purported brokers to "pump up" the stock price by selling it to their retail customers. In return, the brokers were offered Marx Toys stock as a kickback and were given 100,000 shares up-front for future assistance.

The prosecutors said the brokers were cooperating witnesses."