Racketeering and Market Manipulation
Houston, TX – (OTCBB NEWS NETWORK) – May 22, 2002, Dow Jones is reporting that “Anthony Elgindy, the controversial short-seller and online stock commentator, has been arrested on charges of racketeering, insider trading and market manipulation, a government spokeswoman said Wednesday.”
Elgindy also known as Anthony Pacific’s websites included Insidetruth.com.
“Jan Caldwell, a spokeswoman for the San Diego field office of the Federal Bureau of Investigation, said Elgindy, who lives in the San Diego area, was arrested at his business Tuesday.
Details of the charges against Elgindy weren't immediately available. A spokeswoman for the U.S. Attorney's office in Brooklyn, N.Y., from which the charges originate, said the office would issue a statement about the Elgindy case soon.”
Two FBI agents have also been arrested relating to the case. The two are reported to have leaked information, which Elgindy used to extort stock from companies.
