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Pastimes : Discuss ATEL - ACCESSTEL INC
ATEL 0.00Sep 7 1:26 PM EST

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To: Mr. Jens Tingleff who wrote (61)12/17/2002 4:54:33 PM
From: StockDung   of 130
 
.BROOKLYN JURY CONVICTS SECURITIES LAW RECIDIVIST

The Commission announced today that on Dec. 13, 2002, a federal jury in
the United States District Court for the Eastern District of New York
found Dr. Jui-Teng Lin guilty on charges of securities fraud and money
laundering. According to the evidence at trial, Dr. Lin reaped
approximately $1,500,000 in ill-gotten gains from manipulating the
common stock of Surgilight, Inc., a publicly traded company
headquartered in Orlando, Florida. Dr. Lin artificially inflated the
market price of Surgilight stock tenfold (from approximately $2.50 to
over $25 per share) through a series of false and misleading press
releases detailing the company's purported ability to cure age-induced
vision deterioration known as "Presbyopia." Dr. Lin simultaneously
dumped a substantial amount of Surgilight stock on an unsuspecting
public through two nominee accounts and then wired the proceeds
overseas.

At the time of his indictment, the Commission filed a civil action
against Dr. Lin and others in the United States District Court for the
Middle District of Florida. The Commission's complaint alleges that Dr.
Lin violated Sections 5(a), 5(c), and 17(a) of the Securities Act of
1933 (Securities Act), Sections 10(b), 13(d), and 16(a) of the
Securities Exchange Act of 1934 (Exchange Act) and Rules 10b-5, 13d-1,
13d-2, 16a-2, and 16a-3 thereunder. Dr. Lin's wife and Surgilight are
charged with violations of Sections 5(a), 5(c), and 17(a) of the
Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5
thereunder. Aaron Tsai is charged with violations of Sections 5(a) and
5(c) of the Securities Act and aiding and abetting Dr. Lin and Ms. Lin's
violations of Section 10(b) of the Exchange Act and Rules 10b-5
thereunder. The Commission seeks permanent injunctions, disgorgement of
ill-gotten gains with prejudgment interest, and civil penalties from all
defendants and an officer and director bar against Dr. Lin.

The Lins settled a prior civil action brought by the Commission
involving another laser eye surgery company in September 1998 [see SEC
v. Jui-Teng Lin and Yuchin Lin, Litigation Release No. 15870 (Sept. 3,
1998)]. In that civil action, the Lins consented, without admitting or
denying the allegations of the complaint, to the entry of a final
judgment enjoining them from future violations of section 10(b) of the
Exchange Act and Rule 10b-5 promulgated thereunder, as well as various
other provisions of the securities laws. For further information, see
Litigation Release No. 17469 (April 11, 2002).

For tips on how to avoid Internet "pump-and-dump" stock manipulation
schemes, visit sec.gov. For more
information about Internet fraud, visit
sec.gov. To report
suspicious activity involving possible Internet fraud, visit
sec.gov. [U.S. v. Jui-Teng Lin, CR-02-0432
(DGT) EDNY] (LR-17899)

sec.gov
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