Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Banned.......Replies to the A@P thread. -- Ignore unavailable to you. Want to Upgrade?

To: Bear Down who wrote (731)	12/15/2004 3:05:07 AM
From: ravenseye	Respond to of 5425

"no evidence was found about any individual" to support that assertion about $6 million or $300 thousand? Associated Press Wednesday, June 5, 2002 ....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.... prisonplanet.com Feds: Ex-Agent Had Key Data Stock scam charges have eerie link May 29, 2002 By Anthony M. DeStefano STAFF WRITER May 29, 2002 In a criminal case with a specter of the Sept. 11 terrorist attacks, prosecutors disclosed yesterday that classified information had been found during a search of possessions of a former FBI agent allegedly part of an insider trading conspiracy. The tantalizing revelation was made by Assistant U.S. Attorney Kenneth Breen in U.S. District Court in Brooklyn during the arraignment of Lynn Wingate, who is on administrative leave from the FBI, and former agent Jeffrey Royer on charges they were involved in a stock trading racketeering conspiracy. During arguments over whether Royer should be given bail, Breen said that the former agent posed a risk of flight, partly because of classified information about "another subject matter" that was unearthed during the execution of a search warrant of his possessions. Royer, 39, who left the FBI in December 2001, faces charges that he obtained confidential agency material both while he was an agent and after he left and passed it on to Amr I. Elgindy. A self-styled Wall Street whistle-blower and noted short seller of stocks, Elgindy was charged Friday with being the kingpin of the conspiracy. Breen did not elaborate in court yesterday but said the confidential data found was material Royer had no legitimate reason for having and might lead to "something more serious."....http://prisonplanet.com/Ex_Agent_Had_Key_Data.htm Judge in Stock Adviser's Trial Bars Testimony on Terrorism nytimes.com. November 9, 2004 By ERIC DASH For five days, jurors have seen dozens of e-mail messages, a litany of Internet chat room logs and countless company reports as federal prosecutors presented their conspiracy case against Anthony Elgindy, the San Diego stock adviser accused of obtaining illegal information from an F.B.I agent to manipulate the stock market. But they will not hear evidence supporting an assertion that prosecutors once made suggesting that Mr. Elgindy might have had advance knowledge of the Sept. 11 terrorist attacks, a judge said yesterday. The matter came up in the fourth full day of testimony in United States District Court in Brooklyn. Derrick Cleveland, a former business associate of Mr. Elgindy who is now a government witness, was asked by an assistant United States attorney, Kenneth Breen, about a mid-September 2001 F.B.I. investigation into Mr. Elgindy. When Mr. Cleveland responded that the investigation was related to "terrorism," Judge Raymond J. Dearie brought the hearing to a halt. "This case has nothing to do with terrorism," he said to the jury in a planned set of instructions. "You will hear no evidence that Mr. Elgindy or others were involved in 9/11." Mr. Cleveland was allowed to continue with his testimony, recounting how he learned that Mr. Elgindy was a subject in a criminal investigation. Mr. Cleveland said that Jeffrey A. Royer, an F.B.I. agent who was the source of that information and a defendant in the case, told him that investigators were looking into $6 million that Mr. Elgindy had liquidated from two brokerage companies, Charles Schwab and Salomon Smith Barney, shortly before Sept. 11. Mr. Royer also relayed information that the government was examining the money Mr. Elgindy gave to Mercy International, which Mr. Breen described as a "Middle Eastern charity." Mr. Royer promised to "keep an eye" on the case, Mr. Cleveland testified, "and as new things came out, he would let me know." The judge's comments emerged from a 25-minute discussion early yesterday between the prosecutors and the lawyers for the defendants before the trial resumed, and sought to resolve months of legal wrangling. In public reports and in court, Mr. Elgindy's lawyers have argued that there is no basis for suggesting that their client had ties to terrorism. But in May 2002, Mr. Breen argued in a bail hearing that the decision of Mr. Elgindy to sell $300,000 in stock on the afternoon of Sept. 10 might suggest that he had "preknowledge of Sept. 11 and rather than report it he attempted to profit from it." An F.B.I. spokesman said yesterday that "no evidence was found about any individual" to support that assertion. The judge's comments come a week into a trial on securities fraud. Mr. Elgindy is accused of having published negative information on several Internet chat rooms about small-capitalization companies to drive down their stock price. The information had been obtained by Mr. Royer from confidential government databases. Mr. Elgindy also faces extortion and obstruction of justice charges related to the stock-selling arrangement. suite101.com