Investor held amid Sept. 10 concerns

UPI ^ | May 25, 2002 | National Desk

[galethus]

SAN DIEGO, May 25 (UPI) -- An Internet investment adviser charged with insider trading was being held without bail on a parole violation Saturday after federal prosecutors in San Diego raised questions about a stock-sales order he placed the day before the September terrorist attacks on the World Trade Center and Pentagon.

Amir "Anthony" Elgindy, 34, of Encinitas, faces charges in New York of allegedly taking part in a stock manipulation and extortion scheme with four other people, including two current and former FBI agents. Prosecutors, however, raised questions during a detention hearing Friday about what he might have known about the deadly attacks.

Assistant U.S. Attorney Ken Breen argued that Elgindy, a native of Egypt who now lives in a $2.2 million home in an upscale beach community north of San Diego, had ordered the sale of $300,000 worth of stock in his children's trust fund on Sept. 10, and at the same time had told a stockbroker that he was expecting an imminent drop of some 3,000 points on the stock market.

[galethus]

This guy knew 9-11 was coming & tried to make a buck off of it. Round up his co-conspirators & throw away the key.

[jlogajan]

His info wasn't apparently too reliable to even himself, since he didn't go short, just got out.

[Balata]

Follow the money.

[Chad Fairbanks]

There was a previous article here about this that gave more details on what he did, and it appears he DID short stocks...

[jlogajan]

Okay. Well, somebody needed to be the operatives if bin Laden had intended to make well timed trades. They didn't all need to know what was up, though -- just that they had to make the trades by a date certain.

[Chad Fairbanks]

Point well taken - now, isn't it against the law to be an operative for Bin Laden, even if you don't know what he's up to? Sort of like "Consorting with ye Powers Of Darknesse" or some such violation? ;0)

[joyce11111]

Amir "Anthony" Elgindy, 34, of Encinitas, faces charges in New York of allegedly taking part in a stock manipulation and extortion scheme with four other people, including two current and former FBI agents.

HOLY COW...did I read that right, or what???? FBI agents in on that deal...WHOA!!!!!!!!!

[My Favorite Headache]

Not shocked since the FBI seems to be involved in 9-11 just as much as Al Qaeda. What's next? Amway?

[Lazamataz]

HOLY COW...did I read that right, or what???? FBI agents in on that deal...WHOA!!!!!!!!!

In the former Soviet Union, when it crumbled, KGB agents quickly became mobsters.

Information is power, and those with lots of information -- FBI and KGB and CIA and the like -- are always able to exert said power.

[Soul Citizen]

Why is it not surprising to see FBI involvement?

Politicized courtesy of Clinton

[WhiteGuy]

One guy, one trade?

Scape-goat,,

a "Mcvey"

[Balata]

Two FBI agents from New Mexico were involved. Click Here

This guy was also on probation from another conviction and had recently wired $700,000 to Lebanon as a possible exit strategy.

[Southack]

Welcome back!

[Lazamataz]

:o) Thanks buddy. What an amazing, charmed, magical time I had.

Say hello to Free Republic's newest scuba diver. :o) I'm gonna go get my PADI cert. Scuba rocks off St. Thomas -- try it! You will climb out of those silly aircraft and into a wetsuit. :o)

[Fred Mertz]

ping!