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


To: StockDung who wrote (88722)12/11/2004 4:55:28 PM
From: Bear Down  Respond to of 122087
 
nodoubt he is here as he was also on tony's site for a while. Wonder why he stopped using steve as his first name.....MMMm could it be too easy to research steve. I never heard anyone call him calamari except for himself.

I'll take mine fried please



To: StockDung who wrote (88722)12/11/2004 6:20:53 PM
From: scion  Respond to of 122087
 
The complaint alleges that Sayre, a 43 year old Los Angeles tree trimmer masquerading as a financial analyst, realized profits of over $1.4 million from illegal trading in the stock of a publicly traded company, eConnect.

Litigation Release No. 16525 / April 21, 2000

SECURITIES AND EXCHANGE COMMISSION v. STEPHEN C. SAYRE, INDEPENDENT FINANCIAL REPORTS, INC. AND SILVER SCREEN INDUSTRIES, INC., Civil Action No. CV-00-03800 MMM (Ex) (C.D. Cal.)

The Securities and Exchange Commission ("Commission") announced that on April 21, 2000, a federal district judge in Los Angeles continued the asset freeze against Stephen C. Sayre ("Sayre"), Independent Financial Reports, Inc. ("IFR"), and Silver Screen Industries, Inc. ("Silver Screen") in response to a complaint and application filed by the Commission on April 7, charging him with fraud.

The complaint alleges that Sayre, a 43 year old Los Angeles tree trimmer masquerading as a financial analyst, realized profits of over $1.4 million from illegal trading in the stock of a publicly traded company, eConnect. Through his company, IFR, Sayre twice issued recommendations to buy shares in eConnect. The recommendations were initially disseminated by Sayre through a wire service and were then more widely circulated by various Internet postings. In those recommendations, Sayre touted eConnect as an undervalued company and projected a short term "target" price of $12 to $25 a share and a one year "target" price of $100 - $135 a share. According to the complaint, prior to issuing the recommendations, Sayre bought several thousand shares of eConnect stock in accounts held by Silver Screen. After the IFR recommendations were published, Sayre took advantage of the market interest he had created by selling his eConnect stock into the inflated market. The complaint alleges that Sayre failed to disclose that he owned large amounts of eConnect stock through Silver Screen, which stock he intended to sell in contravention of his buy recommendations - a fraudulent practice known as "scalping." According to the complaint, Sayre realized profits of $1.4 million from sales of eConnect stock.

In addition to the asset freeze granted by the Honorable Margaret M. Morrow, United States District Judge for the Central District of California, the Commission seeks permanently to enjoin Sayre and IFR from further violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission also seeks an accounting, civil penalties, and disgorgement from the defendants. Silver Screen was not charged with fraud but was named as a relief defendant because it allegedly received the proceeds of Sayre's illegal trading.

sec.gov

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To: StockDung who wrote (88722)12/11/2004 6:23:12 PM
From: scion  Respond to of 122087
 
SECURITIES AND EXCHANGE COMMISSION v. STEPHEN C. SAYRE,...

Litigation Release No. 17038 / June 19, 2001

SECURITIES AND EXCHANGE COMMISSION v. STEPHEN C. SAYRE, INDEPENDENT FINANCIAL REPORTS, INC. AND SILVER SCREEN INDUSTRIES, INC., Civil Action No. CV-00-03800 MMM (Ex) (C.D. Cal.)

The Securities and Exchange Commission ("Commission") announced that on May 31, 2001, the Honorable Margaret M. Morrow, United States District Judge for the Central District of California, entered judgment against Stephen C. Sayre (Sayre), Independent Financial Reports, Inc. (IFR) and Silver Screen Industries, Inc. ("Silver Screen"). The judgment permanently enjoins Sayre and IFR from violating the antifraud provisions of the federal securities laws, and orders Sayre, IFR and Silver Screen to pay disgorgement of $1,027,881.69, and prejudgment interest of $75,582.59. The judgment also orders Sayre to pay a $110,000 civil money penalty.

The Commission's complaint alleged that Sayre, a tree trimmer masquerading as a financial analyst under the name IFR, twice publicly issued recommendations to buy shares in a publicly traded company, eConnect. In the recommendations, Sayre touted eConnect as an undervalued company and projected a short term "target" price of $12 to $25 a share and a one year "target" price of $100 - $135 a share. The complaint further alleged that, prior to issuing the recommendations, Sayre bought several thousand shares of eConnect stock in accounts held by Silver Screen. After the IFR reports were widely disseminated on the Internet, Sayre allegedly took advantage of the market interest he had created by selling his eConnect stock into the inflated market. The complaint alleged that, while each recommendation stated IFR held no stock in eConnect, Sayre failed to disclose that he owned large amounts of eConnect stock through Silver Screen, which stock he intended to sell in contravention of his buy recommendations - a fraudulent practice known as "scalping."

sec.gov



To: StockDung who wrote (88722)12/13/2004 12:32:04 AM
From: SEC-ond-chance  Read Replies (2) | Respond to of 122087
 
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secinfo.com