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.

Gold/Mining/Energy : YBM Magnex Intl Sees Revenue Growth 30-35%/Yr In MagnetOp -- Ignore unavailable to you. Want to Upgrade?

To: Adrian du Plessis who wrote (166)	6/9/1998 4:55:00 PM
From: Mr Metals	Respond to of 314

YBM Magnex International Inc - Inquirer says magnet co. says it's clean YBM Magnex International Inc YBMShares issued 442229011998-05-13 close $14.35Tuesday Jun 9 1998The Philadelphia Inquirer reports in its Tuesday June 9 edition that a Bucks County-based magnet manufacturer raided recently by dozens of federal agents probing money laundering and other allegations says that an internal investigation found no evidence of illegal activity or involvement with Russian organized crime. Reporter Lacy McCrary writes that the confidential review of YBM Magnex International by Pinkerton's did find other problems but company spokesman Guy Scala declined to be specific about any of the findings, and said he could not say what breaches of policy occurred or how unidentified officers were reprimanded. The probe found no evidence of any involvement by Sergey Mikhailov, a reputed Russian organized-crime figure, and no evidence was found that another reputed crime figure, Semeon Mogilevich, has any involvement in YBM beyond a passive shareholding. Mr Scala told the Inquirer that Mr Mogilevich lives in Hungary and owns stock in YBM but he doesn't exercise any control or direction of the company nor is he trying to do so. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com MM