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.

Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: jjs64 who wrote (687)	4/22/1999 7:55:00 PM
From: StockDung	Read Replies (1) \| Respond to of 10354

1. Beer OMAP HOLDINGS ACQUIRES STAKE IN CHINESE BEER COMPANY KEW GARDENS, N.Y., (SWM) -- OMAP Holdings Inc. said it's acquisition of American China Development Corp., a private investment firm, includes a 60 percent stake in Nantong Aitesi Beer Co., Ltd... smartwine.com

To: jjs64 who wrote (687)	4/22/1999 8:00:00 PM
From: StockDung	Respond to of 10354

U.S. Securities and Exchange CommissionSecurities Act of 1933 Release No. 33-7339 / September 26, 1996Securities Exchange Act of 1934 Release No. 34-37734 / September 26, 1996 Administrative Proceeding File Number 3-9104 PUBLIC ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS INSTITUTED AGAINST PETER TOSTO AND OTHERS IN CONNECTION WITH KICKBACK SCHEME The Securities and Exchange Commission instituted cease- and-desist proceedings against Peter Tosto and his company, Investor Relations, Inc., and public administrative proceedings and cease-and-desist proceedings against three registered representatives (RRs), George Panagiotou, Mark Savage and Dean Verrigni, pursuant to Section 8A of the Securities Act of 1933 and Sections 15(b), 19(h) and 21C of the Securities Exchange Act of 1934, in connection with a scheme in which each respondent RR received, or arranged for other RRs to receive, undisclosed kickbacks for selling San Diego Bancorp (SDB) stock to publiccustomers. The Order Instituting Proceedings alleges that Tosto, individually and through his company, IRI, orchestrated a kickback scheme to sell SDB stock. Tosto was paid by a major SDB stockholder to generate this market activity in a stock which otherwise had a relatively illiquid market, to enable that shareholder to sell his stock. Tosto used some of the money to pay Panagiotou, Savage and Verrigni to generate buying activity. These individuals or RRs they recruited sold SDB stock to customers without revealing to the customers that the RRs were being paid to recommend the stock. The Order also alleges that Tosto made misrepresentations, individually and through IRI, in connection with placing purchase orders for that stock, thereby causing substantial losses to a broker-dealer. Panagiotou participated in the making of those misrepresentations to thebroker-dealer. A hearing will be scheduled to determine whether the allegations against the respondents are true, and, if so, what remedial action, if any, is appropriate, whether cease-and-desist orders should issue against the respondents, and whether disgorgement and civil penalties should be imposed upon therespondents.