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Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (5442)	4/16/1999 12:24:00 AM
From: H Peterson	Respond to of 7039

Thanks GaBard, I'll call E*Trade and see what they say.

To: Ga Bard who wrote (5442)	4/16/1999 1:55:00 AM
From: grw5	Read Replies (2) \| Respond to of 7039

<OT>Hey, Gary. Did you see this one today! *{:o)* ___________________________________________ Man Arrested for Fake News Report LOS ANGELES (AP) _ An employee of California-based PairGain Technology Inc. was arrested today in North Carolina on federal charges of fabricating a Bloomberg news service report and posting it on the Internet, driving up the company's stock. The FBI arrested Gary Dale Hoke, 25, at his Raleigh, N.C., home on charges of securities fraud for allegedly disseminating false information about the company, whose stock is publicly traded, the U.S. attorney's office in Los Angeles said. Hoke was arraigned in North Carolina, ordered to report to California at an unspecified date and released on $50,000 bond, said Assistant U.S. Attorney Christopher Painter. The prosecutor described Hoke as a middle- level employee. Securities fraud is punishable by up to 10 years in federal prison and a $1 million fine. The hoax was perpetrated by copying Bloomberg's Web page design and creating a false news story that on April 7 caused a dramatic increase in the trading value of PairGain, a Tustin, Calif., maker of telecommunications equipment. The bogus report said PairGain would be acquired by an Israeli company, ECI Telecom, for $1.35 billion, or about twice its market value at the time. During the day, the value of PairGain stock rose as high as $11.12{ from a closing price the day earlier of $8.50. When it was determined that the story was fake, the stock price dropped. Hoke was accused of creating the false report in a federal complaint filed late Wednesday in federal court and unsealed today. The complaint charges that investors who paid the inflated price for PairGain were defrauded. The government complaint does not specifically allege that Hoke traded in PairGain stock on April 7, but an affidavit said Hoke has a history of using online trading companies to purchase and sell securities, and he traded PairGain stock as recently as January. The complaint names one victim of the hoax, a Santa Ana, Calif., investor who purchased 1,500 shares of PairGain stock after learning of the report. The complaint alleges Hoke used a free Web page service operated by Angelfire.com and a free e-mail service operated by Hotmail.com to create the scam. The FBI used recorded Internet addresses to make the trace, the U.S. attorney's office said. According to prosecutors, Hoke also allegedly posted a bogus e-mail message about PairGain under the subject line ''Buyout News'' on a financial news message board operated by Yahoo! Inc. The message contained a link to the bogus Bloomberg site. This week, Bloomberg LP filed a lawsuit over the hoax in U.S. District Court in New York City. The lawsuit identified the defendants only as John Does and seeks unspecified damages. An attorney for Bloomberg said the suit would help the company learn the identities of those involved. _______________________________________ They say the poor dumb b____ did it on his computer at work. Sounds like some of our "friends" around here. Best of luck, George

To: Ga Bard who wrote (5442)	4/21/1999 1:01:00 AM
From: H Peterson	Read Replies (1) \| Respond to of 7039

Ga Bard...you want to hear something funny. I wanted to transfer my account from my home town broker to E*Trade. I only have two stock there. AREE is worth $59.15 and MIDLW is halted. I asked them how much it would cost to transfer them. He said he thought $50.00 but would check with his Branch Office. I called back 15 minutes later and he said, " If you sell them and get them out of here, I won't charge any commission. I only want accounts that have a minimum of $10,000." I told him I couldn't sell MIDLW right now because it was halted. He said when it starts trading again we will sell them both with no commission. He was more than excited when I spent $600 and $500 when I bought them from him. Commission to buy them was $126, now that they aren't worth much, he wants to dump me. Well, guess what I'm going to do to him when they are sold. :-)