doj « Investrend Weblogs

Posts Tagged ‘doj’

Watch ‘American Greed’ March 10th

March 8, 2010 (By Bud Burrell)

2 Hours on Short Seller, Anthony Elgindy

– From “Front and Center”, by C. Austin Burrell –

I was informed this evening that the CNBC Series “American Greed” will air a 2 hour special on the notorious short seller and convicted felon Amir “Anthony” Elgindy. Elgindy was the operator of the most notorious criminal short selling syndicate of the last decade, known by several names, including “Anthony@Pacific”, etc. After being arrested in early 2002, and being released on bail, Elgindy was caught trying to fly from New York’s Islip Airport back to San Diego, in possession of $40,000 in cash, and more in precious jewelry, along with phony passports with different names on them from his own.

While Elgindy was operating, he attacked thousands of companies, 2200 plus, with impunity and aggressive arrogance. Working with lawyers specializing in suits for Directors and Officers liability insurance, paid bashers, pay for play journalists, NASD (now FINRA) boiler room broker-dealers, PIPES financiers, bloggers and hedge funds short sellers to destroy and preferably bankrupt his target companies. [entire post]

Tags: 2200 companies victimized, american greed, anthony@pacific, bail, bankruptcy, d&o insurance suits, deregistration, doj, elgindy, finra, mad max, milberg weiss, nasd, paid bashers, pipes financiers, prison, sec, short selling syndicate, silicon investor, web site
Posted in All, Burrell | No Comments »

DOJ Issues Six Criminal Indictments In CMKM Diamonds Case

September 18, 2009 (By Mark Faulk)

From “The Faulking Truth Blog”, by Mark Faulk

– Seven years after the saga of CMKM Diamonds, Inc. (CMKX) officially began, over four years after the company was revoked by the SEC, and a year-and-a-half after the SEC filed civil charges against eleven individuals and three corporate entities, the Department of Justice unsealed criminal indictments against six individuals in the largest penny stock fraud in history.

Former CMKX CEO Urban Casavant and alleged mastermind John Edwards, along with cohort James Kinney, transfer agent Helen Bagley, attorney Brian Dvorak, and Urban’s secretary Ginger Gutierrez were charged with five counts of securities fraud in the massive and complex scam, which involved the selling of over 700 billion shares of CMKX stock to unsuspecting shareholders for an estimated $250 million.

The 40-page indictment, unsealed today in Las Vegas, included allegations of selling unregistered shares of company stock “by use of the mails, over-the-counter mediums of exchange (e.g, the Pink Sheets), and other means” in violation of federal laws. [entire post]

Tags: allegation(s), brian dvorak, cmkm diamonds, cmkx, criminal justice, department of justice, diana lee edwards, doj, extradition, fbi, fegeral laws, forfeiture, fraud, ginger gutierrez, helen bagley, indictment(s), irs, james kinney, john edwards, sec, tax evasion, timothy vasquez, unregistered shares, urban casavant, violation
Posted in All, Faulk | No Comments »

Why Has The SEC Facilitated Systematic Terrorist Money Laundering?

June 30, 2009 (By Bud Burrell)

From “Front & Center”, by Bud Burrell

Yesterday, in scanning terrorism sites, I found a link to The Terror Finance Blog, and bells went off. Searching back, I found that they had referenced the twice convicted felon Amir Elgindy as a primary example of such market related actions. I then remembered that the DOJ had indicated that they expected to file as many as 35 to 40 additional indictments in this case, which involved bribery of FBI agents, which is normally a very hot button with the DOJ. Typically, not a single superceding indictment was forthcoming.

The DOJ could not have made this case without finding that the SEC was in it up to their collective duffs. Despite this, not one SEC official was indicted, despite plentiful evidence of their collusion with Elgindy, attorneys Weiss and Lerach, and many more. Hard evidence was the foundation of the conviction of Elgindy, in the form of clean transcripts of the actual web site he ran in support of his shorting syndicate. This site demonstrated the involvement of many of the major hedge fund operators, market makers, and more.

The most repeated and glaring reference I have made with regard to illegal naked short selling has been to its role as a tactical tool to launder money and evade taxes, moving money offshore for various terrorist enterprises, including organized crime, terrorists and narco-terrorists, domestic and international. I have proved this over and over again, in case after case, only to be met by a black hole of silence from our authorities. I have shown them link after link to name after name, all of them repeatedly involved with one another is hundreds of transactions. The silence of the response has been deafening. [entire post]

Tags: doj, enron, fbi, finra, gao, jim cramer, no superceding indictments, perp walk, sec, special purpose entities, terrorism, terrorist money laundering
Posted in All, Burrell | No Comments »