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

To: Bill Ulrich who wrote (2499)	1/25/2005 3:30:04 AM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 5425

online.wsj.com Stock Trader Elgindy Is Convicted Of Securities Fraud, Extortion By JOHN R. EMSHWILLER Staff Reporter of THE WALL STREET JOURNAL January 25, 2005; Page C3 Stock trader Anthony Elgindy was convicted of racketeering conspiracy, securities fraud and extortion in a federal criminal trial that delved into the world of short selling. Also convicted by the Brooklyn federal-court jury after a 10-week trial was Jeffrey Royer, a former Federal Bureau of Investigation agent whom prosecutors contended illegally provided confidential law-enforcement information to Mr. Elgindy for use in his stock-trading activities. Mr. Royer was found guilty of securities fraud and racketeering charges as well as obstruction of justice and witness tampering. Both men could face more than a decade in prison. A sentencing date hasn't been set. Mr. Elgindy rose to prominence in the late 1990s as a frequent message poster on Internet stock chat sites, such as Silicon Investor. Mr. Elgindy subsequently started a private chat site where members paid a fee to obtain his stock insights, which mostly focused on shorting securities. Short selling is a trading technique that produces profits when a company's stock price falls. Shorting a stock can be perfectly legal -- depending on how it is done. The 37-year-old Mr. Elgindy long boasted of his law-enforcement contacts and about how he helped uncover stock frauds. He frequently sent information to officials at the Securities and Exchange Commission and other law-enforcement agencies. Mr. Elgindy's law-enforcement dealings took a dark turn with Mr. Royer, who resigned from the FBI in December 2001. Prosecutors contended that Mr. Elgindy "corruptly induced" Mr. Royer to provide him with "confidential law enforcement and regulatory information" about publicly traded companies. Among other things, Mr. Elgindy allegedly offered Mr. Royer a "high-paying job." Mr. Elgindy allegedly used the information supplied by Mr. Royer to trade stocks. He also allegedly used his market power to extort stock from target companies. In a prepared statement, the U.S. Attorney's office in Brooklyn said "Elgindy's conviction marks the end of his public charade as a crusader against fraud in the markets." Mr. Elgindy's attorney, Barry Berke, said "there are many complex and controversial issues presented by this case that will be the subject of a vigorous appeal." Ilissa Brownstein, an attorney for Mr. Royer, said her client also plans to appeal the verdict. Write to John R. Emshwiller at john.emshwiller@wsj.com EK!!!

To: Bill Ulrich who wrote (2499)	1/25/2005 10:09:21 AM
From: Pluvia	Respond to of 5425

actually our relationship went south many times before 2000... for example, right after he started on si... when he said he never lost money on 350ish trades, i called him on it... and when he bragged about trades he obviously did not make, and money he obviously did not make based on lack of time and sales for his claimed trades... and when he went from si to a private "pay for membership website..." i stated here and elsewhere he lied about his trading record to build a sheep-like following... and that he lied about giving his trades to the group before he made the trades himself (i'd seen him front fun in person and said so)... and that charging sheeple he'd hearded to his site under false pretense was wrong... etc, etc... his sheeple attacked me and anyone else everytime these rather obvious points were brought up, but that was the nature of the beast. i was not alone in these observations, many others knew these things and also pointed them out... the record is here on si, i just don't care enough to go find the posts that prove it. we generally patched things up after the squabbles because as a team and as a group we all did very good dd and exposed some great scams.... and had a lot of fun doing it, as you know... scam busting is obviously not foreign to you (g) >The relationship between Pluvia and Elgindy started going south around May 2000 and continued to go south throughout October of that year.