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

To: StockDung who wrote (96230)	10/23/2006 5:01:26 PM
From: Buckey	Respond to of 122087

BCSC drops case against Mary Elgindy BC Securities Commission (C:*BCSC) Monday October 23 2006 - Street Wire by Mike Caswell The B.C. Securities Commission has dropped its case against Mary Elgindy, the wife of jailed short-seller Anthony Elgindy. In a brief notice issued this week, the commission said it is "not prejudicial to the public interest" to end the action. The BCSC is still planning a hearing for Mr. Elgindy, who allegedly used Vancouver brokerage Global Securities Corp. as he shorted several stocks with non-public information. The commission should have an easy time making its case, which follows a high-profile criminal trial in New York, where Mr. Elgindy received 11 years in jail and was ordered to forfeit $1.5-million (U.S.) for his shorting. In a notice of hearing issued May, 2002, the BCSC alleged Mr. Elgindy, partly using an account controlled by his wife, manipulated stocks down with false information and secret material an FBI agent gave him. The commission said he extorted shares from companies that feared becoming targets of the scheme. The BCSC has often delayed its case as Mr. Elgindy's criminal trial went ahead in New York. With that action now finished, the commission appears to be gearing up for its own Elgindy trial. The regulator will hold a status hearing Oct. 27, presumably to work out a timetable for the hearing. It is unlikely to be complicated by Mr. Elgindy's "calendar," as lawyers like to say, the accused being already behind bars. © 2006 Canjex Publishing Ltd. -------------------------------------------------------------------------------- No virus found in this incoming message. Checked by AVG Free Edition. Version: 7.1.408 / Virus Database: 268.13.11/492 - Release Date: 10/23/06