|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content=text/html;charset=iso-8859-1 http-equiv=Content-Type><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<META content='"MSHTML 4.72.3110.7"' name=GENERATOR>
<STYLE></STYLE>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT color=#000000 size=4>Well, Here we are: justice in the land of the
free. I bet no-one would have complained if he had turned the 3 billion into 5
billion - even if he had used "underhand methods".</FONT></DIV>
<DIV><FONT color=#000000 size=4></FONT><FONT size=4>Gram.</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>--</B><BR><B>Oggetto: </B>[RT] Jailed Market
Guru To Defend Himself<BR><BR></DIV></FONT>
<DIV><FONT face=Arial>
<H3><FONT size=1>Jailed Market Guru To Defend Himself</FONT></H3>
<P><FONT size=1>By NOELLE KNOX, AP Business Writer </FONT></P>
<P>
<P><FONT size=1>NEW YORK (AP) -- Famed market forecaster Martin Armstrong
will be allowed to defend himself against securities fraud charges, a ruling
that has some wondering if he can get a fair trial. </FONT>
<P><FONT size=1>In a closed hearing Monday, U.S. District Judge Richard Owen
ruled that Armstrong, who has no formal legal training, will be allowed to
represent himself in court against accusations by U.S. regulators that he
defrauded Japanese investors out of $1 billion. </FONT>
<P><FONT size=1>However, Armstrong is in a cell in the Metropolitan
Correctional Center in New York for contempt of court, his assets have been
frozen and he has no money to pay a lawyer to help him in the civil case.
</FONT>
<P><FONT size=1>''Given his circumstances, he is in a very difficult
position. It is a very complex case and it is going to be very difficult for
him to prepare for a trial,'' said Martin Unger, the lawyer who represented
Armstrong until this week. </FONT>
<P><FONT size=1>Unger withdrew from the case because of disagreements with
Armstrong and because Armstrong couldn't pay him. </FONT>
<P><FONT size=1>Armstrong, who founded Princeton Economics International,
allegedly sold $3 billion worth of securities to Japanese companies,
pledging to repay them with interest. Instead of putting the money in
conservative bonds as promised, he made risky bets on currencies and other
investments. </FONT>
<P><FONT size=1>Faced with mounting losses, he tried to hide the truth from
investors by giving them false account statements, said authorities, who
raided his offices last September. Armstrong repaid $2 billion, but still
owes $1 billion. </FONT>
<P><FONT size=1>He is being sued civilly by the Securities and Exchange
Commission and the Commodity Futures Trading Commission, and in a separate
criminal case by the U.S. attorney's office. </FONT>
<P><FONT size=1>Armstrong has pleaded innocent and blames executives at
Republic Bank (recently acquired by HSBC), where the funds were held.
</FONT>
<P><FONT size=1>The judge has maintained that Armstrong can get out of
prison anytime he wants by handing over the missing documents and valuables.
</FONT>
<P><FONT size=1>Armstrong, however, said in the interview, ''I'm in here to
keep me quiet. ... I will never receive a fair trial before Judge Owen.
There's a hidden agenda going on
here.''</FONT></P></FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Thu Apr 27 10:44:53 2000
Return-Path: <listmanager@xxxxxxxxxxxxxxx>
Received: from waltt3.thetrellis.net ([208.179.56.13])
by purebytes.com (8.9.3/8.9.3) with ESMTP id KAA03702
for <neal@xxxxxxxxxxxxx>; Thu, 27 Apr 2000 10:31:51 -0700
Received: from REALTRADERS.COM [208.179.56.198] by waltt3.thetrellis.net
with Novonyx SMTP Server $Revision: 2.25 $; Wed, 26 Apr 2000 14:03:49 -0700 (PDT)
Received: from m5.boston.juno.com by realtraders.com
with SMTP (MDaemon.v3.0.3.R)
for <realtraders@xxxxxxxxxxxxxxx>; Wed, 26 Apr 2000 13:58:36 -0700
Received: from cookie.juno.com by cookie.juno.com for <"xjT21AUVTVaXCKL0NlCsJ6KxOhtv9PZ/D/iCXzecoRs=">
Received: (from rmac@xxxxxxxx)
by m5.boston.juno.com (queuemail) id E6LZ53S8; Wed, 26 Apr 2000 16:58:16 EDT
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: realtraders@xxxxxxxxxxxxxxx
Date: Wed, 26 Apr 2000 16:57:44 -0400
Subject: [RT] Gen: Get Run Statistics
Message-ID: <20000426.165745.-3894685.3.rmac@xxxxxxxx>
X-Mailer: Juno 4.0.5
MIME-Version: 1.0
Content-Type: multipart/mixed; boundary=--__JNP_000_5d87.1bd2.1dbf
X-Juno-Line-Breaks: 0-6,9-10,11-32767
X-Juno-Att: 1
X-Juno-RefParts: 0
From: Ronald McEwan <rmac@xxxxxxxx>
X-MDaemon-Deliver-To: realtraders@xxxxxxxxxxxxxxx
X-Return-Path: rmac@xxxxxxxx
X-MDRcpt-To: realtraders@xxxxxxxxxxxxxxx
Sender: listmanager@xxxxxxxxxxxxxxx
Precedence: bulk
X-MDMailing-List: realtraders@xxxxxxxxxxxxxxx
X-MDSend-Notifications-To: listmanager@xxxxxxxxxxxxxxx
Reply-To: rmac@xxxxxxxx
Status: O
I also recently finished a Probability Density Function (PDF) study of
the 1, 2, 4 & 8 day returns on the OEX from 1/2/98 to 4/24/2000. This
shows you the negative skew very well.
Ron
Attachment Converted: "f:\eudora\attach\pdf oex9.gif"
|