Eagletech Sues 40.........Breaking Scandal

Discussion in 'Wall St. News' started by flytiger, Apr 11, 2007.

  1. For all that have villefied Patrick Byrne, who have ridiculed those of us who have tried to bring to your attention the train wreck that is Wall St., feast your miserable eyes here..........


    Read it all. The mob, the complicity of the big firms, the money laundering, the swiping of one ATM card 47 times in a day, each time for $1,020. And nobody caught it???

    This is backed up by 70,000 pages of SEC documents with the actual Bates Stamps, indicating they were booked into the SEC as hard evidence. No one else has been able to tap the SEC. Wonder why? There is no denying the evidence, the case, or the crime (s). It appears they were going to sit on this stuff for six years, when all would have been moot. Ask yourself. Who else had these special ATM cards?

    Every major media outlet received this document. Many of them are no better than the players in this document. We'll see if it's time for them to do the right thing..

    http://www.mediafire.com/?0cvmzctjmyz you can download here.
  2. Mvic


    What a sordid tale, made me ill to read it. I have forwarded a copy to my congressman and my senators and suggest everyone else do the same. This shit has got to stop and the SEC has to become accountable for their inaction and frankly, their complicity. It is no surprise that the UK stock exchange market caps have exceeded those of the US recently, who would want to do business in the cess pool that Wall st evidently is.

    My hats off to people like you fly tiger, and Byrne, for sticking with it all these years to insist that some sort of justice prevail.

    If you trade in US equities take the time to read this whole document and let your representatives know that this is unacceptable. Also let all your friends who own stock in their 401Ks know about this and to contact their representatives.
  3. institutions creating the appearance of trading volume by transacting with themselves or in collusion seems to be a consistent theme
  4. Thank you. There was so much before I couldn't share with you guys. Now, you see. Can you believe this shit? I've known Rod for six years. I called him when I saw one of his press releases. That's how I met all these guys. I knew the trading was bad, and worked it backwards.

    If you look at the complaint carefully, you see he names one of his officers. Rod was out busting his ass, and they were burying him from the inside.

    The next thing you all need to think about, is a broker swiping an atm card 47 times a day. You try that. Who wasn't looking? Why not. Why did the SEC sit on all this? The evidence shows investigation after investigtion started by the SEC and then stopped. Why? Ever hear of Aguirre? You think that was the first? Free markets? Right.

    Get disgusted along with me. End this mess. Bring these creatures to justice. I'm not talking about the Mob. I'm talking about the authorities who let them steal from us. Remember the article yesterday where the CEO said a trillion has been stolen from the treasury? Now do you see where he's getting that from? By the way. It could be a lowball.

    Oh, how about DATELINE? They had hour upon hour of footage.
    fooled w/it for two years. A fifteen minute softball came out. who got to NBC???? This is why the Bloomberg piece was so important. And that was cut from an hour.

    If you're a trader, no matter how good you are, how much was stolen from you?
  5. This has got to be one of the most disjointed, poorly written pleadings I have ever seen. It makes a lot of allegations without substantial facts and includes all sorts of things that don't belong in the document.

    In short, I can't connect the dots and any good law firm would do that.

    In addition , why didn't Eagletech file it's required quarterly reports?
  6. ....without substantial facts. They are telling you they have SEC docs withBates stamps. Those are the "facts".

    Connect the dots is for the courtroom.

    The SEC asked Eagletech for help in the Civil Case, fully knowing Eagletech was destroyed and why. Do you have any idea how much filings cost? At the end they said, we're delisting you. Eagletech says, "but you know why we couldn't file." Tough.

    When a stock gets delisted all the stock, and naked shorted stock go to zero. It's a home run. and the SEC sided with the dark side once again. Why? Ask yourself why.
  7. Go to page six:


    Start w/ defendants own an offshore bank, and blah blah, have a wonderful debit card system. Compare to theEATC complaint where the ATM was swiped 47 times.

    Notice, also, the ties to Eastern Europe. Have you ever noticed that almost always when brokerages are hacked, they are all Eastern Europeans?
  8. Gary Weiss isn't fit to sniff Rod Young's jockstrap. Maybe this will give some of you how deep the river runs. Eagletech's suit is based on SEC documents obtained in discovery, but Gary says don't believe them. Yes, Eagletech didn't file, because they had no money; Rod was wiped out. Rod plead in front of theSEC commission to get a repreive. By deregistering EATC, the manipulators kept all the money. He was, after all, instrumental in helping the SEC shut down a mob run operation. They said, "no". They sided with the dark side - again. They do not know who they are messing with. Neither does this hack .......

    Intriguing Connections in a Boiler Room Case
    By Gary Weiss (bio)

    A lawsuit was filed recently that looks like — and is — a typical junk lawsuit filed by a CEO trying to shift blame for his own failures.

    But this one actually makes some intriguing allegations that deserve thorough scrutiny.

    In my book I discussed at length the dismaying manipulation surrounding a stock called Eagletech Communications. Eagletech was a straightforward “chop stock” scheme, with brokers paid in cash to push the stock, in which organized crime figures played a decisive role.

    I say “surrounding” because the “manipulatees” included the media. NBC News’s Dateline program ran a disgraceful segment portraying this dogpile stock — its registration was revoked for not filing required SEC reports — as, you guessed it, a “victim of naked short selling.” That despite the total absence of any mention of naked shorting in the voluminous legal proceedings surrounding the company.

    So it’s easy to dismiss out of hand a recent lawsuit filed by the company, being circulated by loony “stock counterfeiting” conspiracy sites, as just more grandstanding by Eagletech’s CEO Rodney Young. Which is precisely what it is. The suit claims that a mammoth conspiracy of Wall Street firms destroyed his company, thereby shifting the blame from Young and the company.

    Though this suit stinks to high heaven, there’s some testimony cited in it that is intriguing, and which bring to mind the late 1990s case of A.R. Baron, a boiler room whose customer ripoffs were known to its clearing broker, Bear Stearns & Co.

    In this case, what’s at issue is Salomon Smith Barney, one of whose employees, an executive vice president named John Dorocki, was involved in a round of financing fir the company through a firm called Trinity Technology Management. TTM, the suit claims, was “composed of SSB managing directors.” There’s no evidence presented in the suit that SSB management knew about any of this — in contrast to Bear Stearns-AR Baron — but it is still raises eyebrows.

    In a deposition quoted in the suit, a stock promoter who masterminded the scheme, John Serubo, testified as follows:

    Q. In your conversations with Mr. Dorocki, was Mr. Dorocki made aware of the mob affiliation in connections to [the boiler room that pushed the stockk,] Bryn Mawr?

    A. Yes

    Q. Was Mr. Dorocki aware of mob connections or mob affiliations in the Wall Street and money business?

    A. Yes.

    In the next few questions, Serubo claims Dorocki dropped some mob names in a conversation they had. Then comes this exchange:

    Q. Did Mr. Dorocki state that he did business with them through SSB [Salomon Smith Barney]?

    A. He didn’t say that.

    Q. At least as much as you know of?

    A. As much as I know of, yeah. I mean it’s common practice that we were, you know, a pump and dump shop,

    Q. And surely Dorocki knew that?

    A. Yes, he did.

    Q. Well, thell me if you knew how he knew that.

    A. Well, Harry Leopold told me that he gold Dorocki about our felony - my felony conviction. I always make it aware. Also, Harry Leopold told me that Robert Dobbs had told Dorocki he wanted to do the deal with Salomon Smith Barney to get away from the Bryn Mawr firm because Bryn Mawr was a tainted firm. And Dorocki and I had conversation about, you know, my New York guys pumping the stock. You know, he thought it was absolutely wonderful how, you know, we could get a stock to trade for almost a 12-month period, you know, at a market cap of 180 million dollars when the company had a million dollars net worth.

    Q. So Dorocki as an executive vice president of Salomon Brothers had no problem whatsoever dealing with mob people in his business?

    A. No. He had no problem dealing with - I can only tellyou from my perspective he had no problem dealing with our firm or our deal.

    The suit also makes some interesting allegations against Schroder & Co., which was the clearing firm for the Bryn Mawr.

    A lot of junk lawsuits have been filed by small companies seeking to shift blame for their own failings and negligence. This suit is clearly one such suit. But despite the suit’s absurd overreaching and conspiracy-mongering, its allegations of involvement by people from large firms should not be tossed casually aside.

    They deserve further investigation and media attention — but not the kind that Young and the conspiracy theorists are craving.

    Reading through the suit (available from a wackadoo website here) makes me wonder about Rodney Young. He seems to have escaped this whole mess without so much as a rap on the knuckles, and it does not seem right.

    That anomaly deserves at least as much attention as anything else.

    © 2007 Gary Weiss. All rights reserved. Reprinted with permission from the Gary Weiss blog.
    #10     Apr 16, 2007