Short-Seller Anthony Elgindy Arrested By FBI In San Diego

Dow Jones News wire ^

[RummyChick]

People who paid alot of money learning how to short from Elgindy http://web.archive.org/web/20010627041040/www.anthonypacific.com/Photos/Seminar/pages/Seminar-41_jpg.htm

[jackbill]

"This is smacking of racial profiling."

This is fast becoming the new "last refuge of scoundrels".

[rdavis84]

"A person with knowledge of the probe said the Securities and Exchange Commission also looked into whether Mr. Elgindy profited from the attacks, but found nothing untoward. Neither did a Justice Department inquiry, an official said."

I posted that on another thread as potential "Bite 'em on the Butt" material possibly in the future.

[RummyChick]

I wonder if he took that 300,000 that was liquidated prior to Sept 11 and then rebought right away. He was telling people to not short the market when it reopened and to invest to try to prop it up. That will be a set of interesting trading records.

Even Mini Me from Austin powers was learning how to short from Elgindy

http://web.archive.org/web/20010625222454/www.anthonypacific.com/Photos/Seminar/pages/Seminar-23_jpg.htm

[RummyChick]

Listen to 27 minutes of Elgindy in his own words about one of the companies that he is targeting...

http://web.archive.org/web/20010411230222/http://insidetruth.com/Companies/Osin/audio/osin.wma

[RummyChick]

Khaled Elgindy is listed as a Minority Staff Director with the US house of Representatives

http://aaiusa.org/PDF/2002_Roster.pdf

[rdavis84]

"Khaled Elgindy is listed as a Minority Staff Director with the US house of Representatives"

Related? Regardless, that Listing shows an awesome number of Arab folk in government positions, most of them Appointed positions. Lots of pandering going on from both parties regarding Arabs. I'm kinda curious how many are Saudi, and also how many are NOT U.S. Citizens.

[RummyChick]

I believe it is his Brother...who has had very vocal views on the Palestinian situation. He has held various positions in Washington.

You have to think about his "contacts" when it comes to Elgindy and his mastermind of activities.

Here is an obscure post about the link between Bin Laden and Khashoggi, a principal shareholder of a company that Tony was targeting...well now we know how he got the info

http://groups.google.com/groups?q=anthony+elgindy&hl=en&lr=&ie=UTF8&oe=UTF8&selm=20011215115019.09684.00000345%40mb-mp.aol.com&rnum=4

And of course, you should know that he claimed he had worked with Alain Chalem, a stockbroker who was alledged to be highly connected with the mob, who was shot to death execution style with speculation that the death was considered to be a warning.

[RummyChick]

Think about this possible scenario. Elgindy calls the broker of his childrens trust fund and tells him to liquidate it because the market is going to dive 6500 points.

It could be coincidence.

It could be information gained through terrrorist network.

It could also be information gained from his FBI sources ...which leads right back to the current controversy on what did the FBI know and when did they know it. The FBI agent that was arrested was out of New Mexico. That may be in the same division as the Arizona branch.

[RummyChick]

Elgindy was wiring thousands of dollars to Lebanon, but supposedly was for a vacation condo. Interesting video on this site

http://www.thesandiegochannel.com/sand/news/stories/news-147989820020524-150536.html

The artist sketch didn't look much like him

[RummyChick]

This guy put did a lot of trust transactions. I wonder what happens to the 300,000 in the childrens trust. Do the Feds get it?

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.asp?txtFormInput=elgindy

[Stentor]

Off the specific subject of Elgindy: Everyone who has lost money being long in some vaporous POS hates short sellers. No one is ever responsible for their own greed and brain lock.

[independentmind]

This is one to keep your eyes on.

[piasa]

I wonder if Elgindy or his friends ever had anything to do with Isa Abdulla Ali, an American-turned-muslim who was in Lebanon back in the days of the bombing of the Marine barracks and who later had been involved in Bosnia,had it in for the Serbs, the usual stuff. A former US soldier, he would be able to go virtually anywhere without raising suspicions. I don't know if he's ever turned up again since he was thought to be in Bosnia.

[Rodney King]

Short selling is one of the biggest most destructive rackets imaginable and serves no good economic function.

That's absurd. The market is served by rational prices. Are you one of these guys who thinks the only purpose that the market serves is to go up so that you can make money for doing nothing?

By law the brokerages are able to "borrow" (steal) stock from owners who have bought them on margin and allow the parasites to sell them.

How is this theft? You don't have to loan your stock out if you don't want to. Plus the short sellers pay interest on what they borroe.

This is against the interest of the owners who would never allow their shares to be used in such a fashion knowingly since it cannot help but undermine their financial interest.

Once again, the owners do not have to allow thier shares to be borrowed. You sound like one of these guys who got burned in a stock that was worthless, but have decided to blame someone onther than yourself.

[Rodney King]

One part of Elgindy's scam was to short Applied Digital Solutions (ADSXE) (the implantable microchip company). He managed to reduce their market cap by over 100 million in one day.

That is simply impossible. You can not short on a down-tick, therefore, short-sellers can not drive a stock price down by selling.

[Rodney King]

Off the specific subject of Elgindy: Everyone who has lost money being long in some vaporous POS hates short sellers. No one is ever responsible for their own greed and brain lock

You nailed it. Notice, these people who complain about market manipulation never complain when the momentum guys drive a stock from 100 x earings to 200 x earnings.

They all want something for nothing, and want to blame others for their bad investments.

The problem with short-selling is that it is not easy enough. The down-tick rule should be eliminated. If short selling was easier, none of the last crazy boom would have happened, and the economy would not have pissed away billions on internet companies that had no chance of ever making money.

[txhurl]

It is. Somewhere recently posted here was a story about millions of dollars of unclaimed puts on AA..?

If Elgindy, like most of the hijackers, thought it was to only be a hijacking, only to be suprised?

[justshutupandtakeit]

The point is (should you care to read what was written) owners do not lend their stocks; it is taken from margin buyers by brokers and "lent" to shorts who pay the brokers NOT the Owners for the "loan." It is manipulation on a huge scale and is not legal in many advanced countries.

The stock manipulators had this practice legalized in the 30s when racketeer Joe Kennedy was in charge of the SEC.

By artifically increasing the supply of stocks for sale thru these thefts the interests of the true investors and owners are undermined. If you think a stock price will fall buy puts but, of course, this does not artifically increase the supply of stock for sale and automatically drive stock prices down as does manipulation. So these parasites won't do that.

What I am is a guy who can actually cut throught the bilge and describe what is really happening. Only a small percentage, if any, of stock owners would consciously lend their stocks to those determined to drive down their value. There are a few of these idiots but the vast majority comes from manipulation of margin buyers' stocks without their knowledge.

"Rational" prices my ass. How does disemboweling investors increase their willingness to invest? Shorting reduces capital formation because it increases the uncertainty faced by new companies or companies undergoing rough periods. It is very destructive of capitalistic principles. No one productive benefits from this insidious and little understood practice only the parasites sucking off the life blood of the capitalistic system.

Apparently you are unaware of where this stock comes from preferring to believe the media idiots descriptions of the practice.

[txhurl]

Thanks, Chick, and think how valuable his pre- and post- Sept. 11 phone, internet data/log are, if he was tipped!