Posted On: 12/19/2014 3:43:14 PM
Post# of 9964
Watched American Greed last night about some guy named Amir Elgindy. After watching this it reminded me of a few people on the ihub mrib board (Matthew Berg, DJ Ponder, Veronica Fox, Joe Rich, Waterchaser, Big Bad Wolf, Channel Trader (new), misanthrope, capjoe503, MerryChristmas!, and former Dan Tanna, Finale Shnappes, and Kayakzz.) Please read the following about this Amir guy and tell me this doesn't sound JUST LIKE what these other guys have been doing since this was at 5 cents:
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.
His syndicate eventually grew to over 650 members, including many of the biggest hedge funds, law firms and more, all in turn supported by the SEC, FINRA, and other regulators. His activities attracted the partnerships of Milberg, Weiss, then the most successful law firm in the country, on both of the US Coasts, the SEC, FINRA, the DOJ, and many more, including firms specializing in producing negative research reports on companies his syndicate had targeted for short selling raids.
The tactics he employed were classic manipulation. Most frequently his network would “tip off” him to a potential company to be targeted, particularly where there was sufficient market capitalization to make it very, very profitable to rip them off. He would generally establish his position, then go out with his alert to his subscribers describing what he thought the shorting opportunity was, with them acting in concert with him to simply overload the market with supply of stock, thereby driving the Company’s stock into the ground. With their stock suppressed, financing became irrationally expensive and dilutive. More often than not, the companies would have to throw in the towel, selling out at an enormous discount, deregistering or bankrupting.
These guys need to be put away like Amir.
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.
His syndicate eventually grew to over 650 members, including many of the biggest hedge funds, law firms and more, all in turn supported by the SEC, FINRA, and other regulators. His activities attracted the partnerships of Milberg, Weiss, then the most successful law firm in the country, on both of the US Coasts, the SEC, FINRA, the DOJ, and many more, including firms specializing in producing negative research reports on companies his syndicate had targeted for short selling raids.
The tactics he employed were classic manipulation. Most frequently his network would “tip off” him to a potential company to be targeted, particularly where there was sufficient market capitalization to make it very, very profitable to rip them off. He would generally establish his position, then go out with his alert to his subscribers describing what he thought the shorting opportunity was, with them acting in concert with him to simply overload the market with supply of stock, thereby driving the Company’s stock into the ground. With their stock suppressed, financing became irrationally expensive and dilutive. More often than not, the companies would have to throw in the towel, selling out at an enormous discount, deregistering or bankrupting.
These guys need to be put away like Amir.
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