STRONG OUT AS CHIEF OF FUND FIRM (timed trades for himself, family and friend)

NY POST ^ | December 3, 2003 | JENNY ANDERSON

[Liz]

Strong Financial founder, chairman, CEO and chief investment officer Richard Strong resigned from his company yesterday.

The move comes as regulators are investigating his fund complex and his own trading activity in the firm's funds.

A majority investor, Strong will also seek to divest himself of voting control of the firm, a company statement said.

[Liz]

.....Strong stepped down as director of the company's mutual funds board after Spitzer's office said the fund boss had made as much as $600,000 over five years with improper trades. Spitzer is said to be contemplating criminal charges against Strong, who allegedly timed his own funds for his accounts and those of family and friends...........

........family and friends....

Their get-togethers must have been fun-filled. I wonder if they made videos (sarcasm)?

[Grampa Dave]

Any Strong Mutual fund owner (not in an Ira or 401K), who had to pay income taxes due to this a$$hole churning and selling Strong funds, should start a massive class action suit against him and his family for recovery of those taxes.

The share holders didn't benefit from the churning and selling. Strong and his family did.

[Liz]

Wall Street class-action lawyers will be all over this like BillBoy and a bimbo.

[Grampa Dave]

Lets hope so. Nothing changes corporate crooks like a civil class action suit does.

[J. L. Chamberlain]

"Long is the way
And hard, that out of hell leads up to light."
John Milton, Paradise Lost

I somehow think that Strong and the other swindlers will never find it.

J

[Liz]

"Each of us has a natural right—from God— to defend his person, his liberty, and his property. These are the three basic requirements of life, and the preservation of any one of them is completely dependent upon the preservation of the other two." ------Bastiat - The Law (1801-1850)

It's unfortunate that in their lust for filthy lucre, these thieves ignore the rule of law and violate the liberties of the people they are cheating.

[TaxRelief]

A class-action suit is a great plan if you want to feed the John Edwards litigation machine and ending up sith nothing yourself. You're better off suing small time, I suspect.

[J. L. Chamberlain]

I am a simple man and as such, live by a simple creed: Live honorably.

For capitalism to work, thrive and flourish; it requires honesty, integrity and morality. I view those who cheat and steal the same as I do communists, for they lend credence to their arguments. Lock them up and throw away the key, says I, for they endanger the nation as much as any avowed communist.

J