Lee no one wants to read 200 pages and to keep those reading from an add(attention deficit disorder) attack:I'll keep this as to a small page or two!Your story in small text and a simple responce in BOLD!I'm not here to shot the messenger and I do appreciate your work but it inspires a responce which I hope you'll see as a good thing.
IT SEEMS THIS STORY IS FULL OF A LOT OF "THE PROSECUTION CLAIMS" AND "ACCORDING TO THE GOVERNMENT", RATHER THAN "THE PROSECUTION PROVED". SORT OF MAKES YOU WONDER.
The prosecution claims that Mr. Elgindy actively cultivated his relationship with Mr. Royer, who he referred to as "my personal FBI agent."
"Laughed my ass off at GAHI today," Mr. Royer wrote, a reference to Global Asset Holdings Inc. "What a shit company. Take care of Derrick (Mr. Cleveland) on this one. He got some good info in my opinion."
Mr. Royer went on to offer some comments about a Dallas-based brokerage firm with a checkered reputation.
"Solomon Grey could potentially keep us in business for a long time," Mr. Royer remarked in his e-mail to Mr. Elgindy. "Meanwhile, we can drive them crazy by driving their dick in the dirt on all their turd deals."
WHAT DOES THAT PROVE EXACTLY?? TONY WAS VERY PUBLIC ABOUT HIS RELATIONSHIP WITH ALL GOVERNMENTAL AGENCIES, AND ROYER MADE HIM FEEL ESPECIALLY PROUD BECAUSE HE WAS HELPING THE GREATEST LE AGENCY IN THE COUNTRY.
SEC ATTORNEY BRIAN BRESSMAN TESTIFIED THAT IN 2000 ROYER GAVE HIM INFO ABOUT CASH BRIBE SCAM STOCKS PUSHED AND PUMPED THROUGH SOLOMON GREY.TONY WAS ALWAYS VERY LOUD AND PUBLIC ABOUT THOSE CASH BRIBE SCHEMES FROM THEM AND FINALLY THE SEC BROUGHT CHARGES OF MANIPULATION AGAINST SOLOMON GREY, NOT TONY ELGINDY WHO HAS YET TO BE CHARGED WITH ANYTHING BY THE SEC REGARDING THIS CASE FROM WHAT I CAN FIND.
"As part of the Las Vegas festivities, the defendant and several AP site members were photographed with Royer's business card plastered to their foreheads," the prosecution notes, going on to add that Mr. Elgindy "partially reimbursed" Mr. Royer for his trip expenses.
A SIGN OF PEOPLE TRYING TO "HIDE THEIR SOURCE OF INSIDE GOVERNMENT INFORMATION", OR MORE THE SIGNS OF PEOPLE IN A FESTIVE MOOD QUITE PROUD OF THEIR ACCOMPLISHMENTS IN WORKING TO CLEAN UP WALL STREET, LIKE A NEIGHBORHOOD WATCH GROUP WOULD CELEBRATE THE BURNING DOWN OF A CRACK HOUSE. CRACK DESTROYS LIVES; SCAMMERS DESTROY AMERICANS' FINANCIAL FUTURES, AND THEIR BELIEF IN THE ENTIRE MARKET SYSTEM. ASK THE PEOPLE WHO JUST RECENTLY LOST HALF THEIR MONEY OVERNIGHT IN SULPHCO, ONE OF THE INDICTMENT STOCKS THAT ONCE AGAIN WAS PUMPED AND DUMPED.
"As is clear from discussions about this letter, the defendant wanted to use Royer's position as an FBI agent in any way that satisfied the defendant's ends and Royer was willing to do anything to curry the defendant's favor," the government claims. According to the prosecution, on Aug. 14, 2001, Mr. Elgindy told Mr. Royer that he would "need a letter saying how valuable I am to the U.S. government."
SATISFY DEFENDANTS ENDS???? IF ELGINDY BELIEVED HE WAS HELPING THE FEDS, AND THOUGHT MAYBE HE COULD GET OUT OF PROBATION EARLY IF THAT WAS WELL DOCUMENTED,HOW THE HECK IS THAT A CRIME???
Mr. Royer left the FBI in December of 2001 and in January of 2002 both he and Mr. Cleveland "officially started working in the defendant's office in San Diego."
TONY, AS I RECALL, WAS IN A TRIAL WITH MATT TYSON EVERY DAY FROM JANUARY 2002 UNTIL APRIL 2002, SO WHO WAS SITTING IN HIS OFFICE AN WHAT THEY WERE DOING HAD LITTLE TO DO WITH TONY. HE WOULD REPORT IN FROM THAT TRIAL SEVERAL TIMES A DAY, AND THAT'S ALL HE COULD THINK ABOUT OR TALK ABOUT.
The government also argues that Mr. Elgindy actively manipulated the share price of certain stocks.
THROUGHOUT THE TRIAL THE GOVT SEEMED TO INTRODUCE A WHOLE BUNCH OF TERMS ABOUT TRADING THAT I HAD NEVER HEARD OF BEFORE, AND SUDDENLY THEY BECOME "ILLEGAL" JUST BECAUSE THE GOV'T SAYS SO? . IS GROUP TRADING NOW ILLEGAL?? THE GOVERNMENT STILL WANTS ELGINDY SENTENCED FOR ACTIONS THAT BOTH THE JUDGE AND THE JURY FOUND WERE NOT ILLEGAL?? BASED ON THE VEDICTS, THE JURY DIDN'T BUY THAT "THEORY OF MANIPULATION.". GOOD THING, OR JAMES CRAMER AND CNBC WOULD BE OUT OF BUSINESS. ANYONE WATCH THE STOCKS CRAMER BASHES OR TOUTS AT 6PM EVERY NIGHT?? COMPARED TO TONY'S FEW SITE MEMBERS, HOW MANY HUNDREDS OF THOUSANDS OF PEOPLE HIT THE SELL OR BUY BUTTON AT CRAMER'S EVERY WORD??
THE GOV'T EARLY ON RELIED FOR THEIR AUTHORITY TO PROSECUTE THIS CASE ON THE NASD CASE AGAINST TONY THAT HAS SINCE BEEN DISMISSED, APPEALED, AND TONY POSTED HIS FINAL VICTORY HERE A FEW MONTHS AGO. WHAT DID THE SEC FINALY SAY ?? "the market cannot be manipulated through truthful, albeit negative, statements, or through the timed release of that information." In re Amr Elgindy, Exchange Act Release No. 49,389, 2004 SEC LEXIS 555 (Mar. 10, 2004).
OH MY, CAN WE JUST FOR A SECOND LOOK AT THE MANIPULATION CHARGES????
The government also argues that Mr. Elgindy actively manipulated the share price of certain stocks, on occasion instructing members to either stop "hitting" a stock or telling them he wanted a stock at a certain price so that he could get a cheap block of stock to cover short positions."Rather than being a genuine research tool, InsideTruth's true purpose was to put out negative reports on stocks that the defendant, his co-conspirators and site members were shorting in order to cause those stocks to fall," the prosecution says.
IT'S PRETTY SIMPLE TO LEARN WAHT MANIPULATION IS WITH SOME TIME ON GOOGLE. THE ENTIRE FOCUS OF CRIMINAL MANIPULATION IS THE INTENTIONAL RELEASE OF INACCURATE INFORMATION INTO THE MARKETPLACE. WHERE DID TONY DO THAT?? TWICE. ONCE CONNECTING OSAMA BIN-LADEN TO ADNAN KASHOGGI. WELL MAYBE IT WAS FALSE, AND MAYBE NOT, BUT PUT THOSE TWO NAMES INTO ANY INTERNET SEARCH ENGINE, AND THERE SURE ARE A LOT IF HITS, SO HOW DO WE KNOW OR NOT KNOW?? IT WAS AN INTERNET STORY THAT HAD BEEN "OUT THERE", AND HAS IT BEEN PROVEN TO NOT BE TRUE??? IT IS ALSO INTERESTING THAT THE COMMENT WAS MADEAFTER TRADING IN GENI HAD ALREADY BEEN HALTED BY THE NASDAQ, SO NO ONE'S TRADES COULD HAVE BEEN AFFECTED ANYWAY. IT WAS IDLE CHATTER, PERIOD, AND I HAVE SEEN MUCH WORSE SPECUATION RIGHT HERE ON SI ABOUT TONY AND HIS FAMILY.
THE OTHER INSTANCE OF INACCURATE INFO WAS RELEASING INFO ABOUT PAUL BROWN'S CONVICTIONS. THAT WAS BASED ON A ROUTINE BACKGROUND CHECK AND PHONE CALL TO THE IDAHO DOC THAT VERIFIED BROWN WAS A CONVICTED FELON. IF TONY DID HAVE FBI INFO, WOULDN'T HE HAVE KNOWN BETTER??
AS SOON AS HE LEARNED IT WAS "TECHNICALLY" NOT TRUE BECAUSE BROWN HAD THE CONVCITION EXPUNGED , HE WENT PUBLIC AND ADMITTED THE MISTAKE. THAT'S THE EXTENT OF THE FALSE INFORMATION THAT I CAN FIND IN THE ENTIRE TRIAL. RATHER THAN PROVING MANIPULATIVE INTENT, IT SEEMS THAT IT SHOWS THE OPPOSITE. ONLY TWO INACCURATE STATEMENTS AMONG 1100 DAYS OF CHAT LOGS, MILLIONS O LINES OF CHAT, PROBABLY ALMOST 100,000 THOUSAND POSTS HERE ON SI ALONE, AND THE GOV'T COULD ONLY FIND THOSE TWO???? HARDLY MANIPULATION. HERE'S WHAT THE "LAW" SAYS:
“The truth is that short selling-even massive short selling-does not create a false impression of supply and demand in the marketplace because there necessarily are other parties betting against these positions. That short selling may depress share prices, which in turn enables traders to buy more shares for less money, is not evidence of unlawful market manipulation, or fraudulent intent, but rather is a natural consequence of a lawful and carefully regulated trading practice, namely short selling.”
“Indeed, legitimate short sales often convey negative information about a company insofar as short sales suggest that a stock's price is overvalued, but that does not mean that such sales distort the market. To the contrary, short selling can help move an overvalued stock's market price toward its true value, thus creating a more efficient marketplace in which stock prices reflect all available relevant information about the stock's economic value.”
AS I SEE IT, WHAT TONY DID FOR YEARS PROMOTED EFFICIENCY IN THE MARKET. HE RESEARCHED FRAUDULENT COMPANIES, AND YES, MADE MONEY IN THE PROCESS. BUT DID IT BASED ON THE SAME HARD WORK AND RESEARCH THAT ANYONE ELSE COULD HAVE DONE. HE SAVED THOUSANDS OF PEOPLE MILLIONS OF DOLLARS, LONG BEFORE HE EVER HEARD OF ROYER WHO ACCORDING TO THE TESTIMONY WAS THE BEST MAN AT CLEVELAND'S WEDDING. HOW COZY WAS THAT??
Moreover, the jury found Mr. Elgindy guilty of frontrunning and trading against advice with respect to some of his calls.
YEA, GREAT ONE. TONY SHORTS 3K OF INIV AT $4.45, THEN CALLS IT SHORT 5 MINUTES LATER, AND TELLS THE SITE HE HAD JUST SHORTED 3K SHARES. SO WHERE WAS I OR ANYONE ELSE DEFRAUDED OR LIED TO?? I JUST DON'T GET IT.
IN MY OPINION, HIS DEFENSE TEAM, NO MATTER HOW EXPENSIVE, JUST DIDN'T GET THE CORRECT INTO TO THE JURY. IT'S SAD TO SPEND SO MUCH AND GET THIS KIND OF A RESULT. I'M NOT GONNA WASTE ANYMORE TIME GOING THROUG THIS LINE BY LINE, CAUSE IT MAKES ME WANNA PUKE BILE. DAWS SAID IN HIS PRIVATE CHAT THAT HE WANTED TO USE TONY AS A LIGHTENING ROD, CLEVELAND AND ROYER WERE BUDDIES LONG BEFORE THEY MET TONY, AND CLEVELAND ADMITTED TAT HE LIED AND MADE STUFF UP DURING THE TRIAL:
You know, that was me, you know, being creative and making stuff up, yes.
AND NOW TONY IS FACING LIFE, AND THE OTHERS FACE VIRTUALLY NOTHING?? WHAT WAS THIS ALL FOR?? COMPROMISING GOVERNMENT DATABASES? OBVIOUSLY NOT, OR ROYER AND WINGATE WOULD BE FACING LIFE.
SHOULD TONY HAVE TESTIFIED? PROBABLY SO, BUT HAVING BEEN BADLY BEATEN BECAUSE HE WAS A TERRORIST DURING HIS DEFENSE CASE, MAYBE HE JUST COULDN'T MENTALLY HANDLE THAT, ESPECIALLY BEING KEPT IN ISOLATION. DOES ANYONE HERE KNOW WHAT AN ISOLATION CELL IS LIKE FOR AN ARAB-AMERICAN IN BROOKLYN'S MDC???
THE MORE THAT COMES PUBLIC, THE WEIRDER THIS SOUNDS. MAYBE TONY WAS RIGHT, AND IT WAS A LYNCHING. I HATE TO THINK THAT IN 2006 MY GOVERNMENT WOULD DO THAT, I HATE TO THINK THAT A JUDGE WOULD NOT EXAMINE IT ALL CAREFULLY BEFORE PASSING SENTENCE BASED ON THE TESTIMONY OF SOMEONE WHO WAS PROVEN TO HAVE PERJURED HIMSELF UNDER OATH, AND I HATE TO THINK THAT WHAT WAS PROVEN AT TRIAL IS WORTH A LIFE SENTENCE. BWDIK, I AM JUST A SELLER OF TOOLS, AN AVERAGE INVESTOR WHO LEARNED SOME VALUABLE LESSONS FROM TONY, AND NONE OF THEM HAD TO DO WITH INSIDER TRADING. |
