Some interesting conclusions could be drawn after tying these loose ends together, you think?
Subject 23993
money.cnn.com
Ex-FBI agent, trader guilty of fraud
Jury finds Anthony Elgindy and Jeffrey Royer guilty of racketeering and securities-fraud charges.
January 24, 2005: 6:29 PM EST
NEW YORK (CNN/Money) - Stock trader Anthony Elgindy was convicted on Monday of using secret government information to profit in the market, while former FBI agent Jeffrey Royer was convicted of tipping him off about companies facing criminal investigations.
Each man faces the possibility of 20 years in prison for their convictions, which came in U.S. District Court in Brooklyn after a three-month trial, according to Reuters.
The Wall Street Journal said Elgindy, who ran a subscription-based investing Web site, was found guilty of 11 counts, including five counts of securities fraud, a count of racketeering conspiracy, a count of securities fraud conspiracy, a count of extortion, a count of extortion conspiracy, and two counts of wire fraud.
Elgindy sobbed and rocked back and forth in his seat as the jury pronounced him guilty of racketeering, including securities fraud and extortion charges, Reuters reported.
Royer was found guilty of nine of 14 counts against him, including four counts of securities fraud, a count of securities fraud conspiracy, a count of racketeering conspiracy, a count of obstruction of justice conspiracy, a count of obstruction of justice and a count of witness tampering, according to the article.
The government argued the two men were part of an effort to dig up negative news about corporations and then use that news to drive down share prices and profit by short-selling the stocks.
Prosecutors said Elgindy would use information from Royer to sell companies' stock short and advise subscribers to his Web site to do the same. Access to information about government investigations that could cause a stock price to fall would be an unfair trading advantage.
They said Elgindy portrayed himself as a crusader against companies that were defrauding investors and said he made millions of dollars from subscribers, who paid up to $600 a month to access his Web site, anthonypacific.com.
"Under the guise of protecting investors from fraud, Royer and Elgindy used the FBI's crime fighting tools and resources actually to defraud the public and to insulate themselves from detection and prosecution," said Roslynn Mauskopf, U.S. Attorney for the Eastern District of New York, in a statement.
"Royer violated the trust of the FBI by brazenly partnering with Elgindy to commit a laundry-list of crimes."
A sentencing date was not set.
Other defendants in the case included Lynn Wingate, Troy Peters and Jonathan Daws. They will be tried separately, according to the Journal, and three other defendants, Derrick Cleveland, Robert Hansen and Kent Terrell, have pleaded guilty and are cooperating with the government.
topics.nytimes.com
Your search for ELGINDY, ANTHONY in Federal Bureau of Investigation returned 9 articles
ARTICLES ABOUT THE FEDERAL BUREAU OF INVESTIGATION
Page: 1 Newest First | Oldest First | Closest Match Guilty Plea Entered By Ex-F.B.I. Agent
By The Associated Press.
June 24, 2005 Business News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: FRAUDS AND SWINDLING, SECURITIES AND COMMODITIES VIOLATIONS, ETHICS, INFORMERS, EXTORTION AND BLACKMAIL, STOCKS AND BONDS, BROKERS AND BROKERAGE FIRMS, CRIME AND CRIMINALS, WINGATE, LYNN, ROYER, JEFFREY A Ex-F.B.I. Agent And Trader Are Convicted
By ERIC DASH; COLIN MOYNIHAN CONTRIBUTED REPORTING FOR THIS ARTICLE.
A trader in Internet penny stocks was convicted of using confidential information from an F.B.I. agent to profit illegally in the market.
January 25, 2005 Technology News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: FRAUDS AND SWINDLING, SECURITIES AND COMMODITIES VIOLATIONS, SUITS AND LITIGATION, INFORMERS, STOCKS AND BONDS, DECISIONS AND VERDICTS, COMPUTERS AND THE INTERNET, ROYER, JEFFREY A Prosecutors at Fraud Trial Say Profit Was True Motive
By ERIC DASH
In a final attempt to refute the claims of the two defendants, prosecutors argued yesterday that there was " overwhelming evidence" that the two, Anthony Elgindy and Jeffrey A. Royer, were working together to commit securities fraud and not to expose corporate crime.
January 15, 2005 Business News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: FRAUDS AND SWINDLING, SECURITIES AND COMMODITIES VIOLATIONS, ETHICS, INFORMERS, SHORT SELLING, STOCKS AND BONDS, DECISIONS AND VERDICTS, ROYER, JEFFREY A Defense in Fraud Case Asserts Clients' Intentions Were Good
By ERIC DASH
In separate closing arguments yesterday, lawyers for Anthony Elgindy and Jeffrey A. Royer tried to chip away at prosecutors' accusations that the two men worked together in an elaborate securities fraud.
January 13, 2005 Business News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: FRAUDS AND SWINDLING, SECURITIES AND COMMODITIES VIOLATIONS, INFORMERS, STOCKS AND BONDS, REGULATION AND DEREGULATION OF INDUSTRY, ROYER, JEFFREY A Prosecution Talks of Greed at Fraud Trial
By ERIC DASH
The prosecution' s closing argument yesterday in the securities fraud trial of Anthony Elgindy and Jeffrey A. Royer focused on the questions posed at the start: Were Mr. Elgindy, a controversial Internet stock guru, and Mr. Royer, a former F.B.I. agent, crime-fighting crusaders for integrity in the marketplace? Or were they crusaders for personal gain?.
January 12, 2005 Business News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: FRAUDS AND SWINDLING, SECURITIES AND COMMODITIES VIOLATIONS, SUITS AND LITIGATION, ETHICS, INFORMERS, STOCKS AND BONDS, ROYER, JEFFREY A, LEVINE, SETH Ex-F.B.I. Agent Defends Role in Fraud Case
By ERIC DASH
For nearly two months, Jeffrey A. Royer, a former F.B.I. agent, has sat silent as prosecutors accused him of providing confidential government information to a controversial stock adviser as part of an elaborate scheme. But yesterday, taking the witness stand for the first time, Mr. Royer testified that the adviser, Anthony Elgindy, was simply " a very valuable source." .
January 4, 2005 Business News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: FRAUDS AND SWINDLING, SECURITIES AND COMMODITIES VIOLATIONS, ETHICS, INFORMERS, EXTORTION AND BLACKMAIL, SHORT SELLING, STOCKS AND BONDS, DECISIONS AND VERDICTS, ROYER, JEFFREY A Judge in Stock Adviser's Trial Bars Testimony on Terrorism
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.
November 9, 2004 Business News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: FRAUDS AND SWINDLING, SECURITIES AND COMMODITIES VIOLATIONS, INFORMERS, EXTORTION AND BLACKMAIL, STOCKS AND BONDS, DEARIE, RAYMOND J, ROYER, JEFFREY A Stock Adviser, on Trial for Fraud, Is Portrayed as a Crusader
By ERIC DASH
Anthony Elgindy, the San Diego stock adviser accused of using confidential government information from an F.B.I. agent in a stock manipulation scheme, looked attentively at the jury in federal court in Brooklyn yesterday as his lawyers and prosecutors presented conflicting accounts of his business behavior.
November 2, 2004 Business News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: FRAUDS AND SWINDLING, WORLD TRADE CENTER (NYC), AIRLINES AND AIRPLANES, SECURITIES AND COMMODITIES VIOLATIONS, HIJACKING, SHORT SELLING, STOCKS AND BONDS, REGULATION AND DEREGULATION OF INDUSTRY, ELGINDY, AMR IBRAHIM, DEARIE, RAYMOND J, ROYER, JEFFREY A, NEW YORK CITY, WASHINGTON (DC) Broker Who Aided U.S. Going on Trial For Fraud
By ERIC DASH
The fraud trial of Amr Ibrahim Elgindy, who had a colorful career as a short seller, begins on Monday in Brooklyn.
November 1, 2004 Business News
MORE ON FEDERAL BUREAU OF INVESTIGATION AND: EXTRADITION, FRAUDS AND SWINDLING, WORLD TRADE CENTER (NYC), AIRLINES AND AIRPLANES, SECURITIES AND COMMODITIES VIOLATIONS, HIJACKING, INFORMERS, EXTORTION AND BLACKMAIL, STOCKS AND BONDS, BROKERS AND BROKERAGE FIRMS, TERRORISM, PETERS, TROY M, ELGINDY, AMR IBRAHIM, WINGATE, LYNN, ROYER, JEFFREY A, DAWS, JONATHAN, NEW YORK CITY, WASHINGTON (DC)
thestreet.com
This Silicon Investor Is Now Anthony@FederalDetention.gov
By Robert Kowalski
Staff Reporter
5/16/00 2:55 PM ET
Short-seller and flamboyant Internet message board poster Anthony Elgindy was sentenced Monday by a Texas judge to a $20,000 fine and four months in a federal prison for felony mail fraud.
Elgindy, a former Nasdaq market maker and broker who's well known for his Internet postings critical of various publicly traded companies, also must spend four months in a work-release-type house confinement and three years on probation after finishing his prison term.
U.S. District Court Judge Terry Means, of the Northern District of Texas, ordered Elgindy to report to a federal detention facility on June 11. He rejected Elgindy's request for a lesser sentence of probation.
"I think it's fair because the judge said it's fair," Elgindy, 32, said in a phone conversation Tuesday.
Elgindy pleaded guilty to the mail fraud charge in February, after he was charged in a nine-count insurance fraud indictment. (TSC wrote about his plea in February.)
The indictment had alleged that Elgindy received compensation from securities firms while he was also fraudulently receiving disability benefits from an insurance company. The mail fraud charge stemmed from the method of delivery for the disability checks.
"I have no hard feelings whatsoever toward the prosecutor. I have no hard feelings whatsoever toward the judge," said Elgindy, who lives in San Diego.
David Jarvis, an assistant U.S. attorney who prosecuted Elgindy's case, said he was satisfied with the judge's ruling Monday.
"That sentence is the minimum that the judge had to give him," Jarvis said. "He wasn't the transformed man that they made him out to be."
Elgindy, who posts messages about companies under the alias Anthony@Pacific on the Silicon Investor message boards and maintains a Web site, said he doesn't know if he'll be able to continue posting messages from prison. "I don't know if there's Internet access or not," he said.
In a posting on Silicon Investor early Tuesday, he bid his readers a temporary goodbye.
Elgindy also said he didn't know if he'd return to posting messages about companies on message boards after he is released. But he said there's some value to his opinions about fraudulent activities in business because he's able to "use my own knowledge of how these scumbags work, because I used to be a scumbag."
"I'm stuck in this role of bad guy who exposes bad guys," he added. But, "I'm just a young guy trying to earn an honest living."
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