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   Strategies & Market TrendsAnthony @ Equity Investigations, Dear Anthony,


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To: Jeffrey S. Mitchell who wrote (103319)4/16/2008 12:57:17 AM
From: Jeffrey S. Mitchell
   of 122039
 
SEC Overhaul Bid by Bush Condemned by SEC Chairmen (Update2)

By Jesse Westbrook


Securities and Exchange Commission Chairman Christopher Cox, third from the right, listens as former SEC chairmen, from left, Roderick M. Hills (1975-77), David S. Ruder (1987-89), William H. Donaldson (2003-2005) and Harvey L. Pitt (2001-2003) participate in a roundtable discussion at the agency's headquarters in Washington, May 23, 2007. Photographer: Dennis Brack/Bloomberg News

April 8 (Bloomberg) -- Three former leaders of the U.S. Securities and Exchange Commission say the Bush administration's proposed overhaul of financial regulation threatens to weaken the agency, a process that may already be under way with help from the SEC itself.

David Ruder, Arthur Levitt and William Donaldson, all former SEC chairmen, said a Treasury Department push for the agency to adopt the regulatory approach of the much smaller Commodity Futures Trading Commission would be a mistake.

It's ``not useful'' for the SEC to have ``a prudential-based attitude in which regulators solve problems by discussing them informally with market participants and ask them to change,'' Ruder, a Republican SEC chairman under President Ronald Reagan, said in an interview. ``We have to have an enforcement approach.''

Levitt, a Democrat who led the SEC from 1993 to 2001 under President Bill Clinton and who supports an SEC and CFTC merger, says the terms proposed by Treasury are ``wrongheaded'' because they would give the trading commission ``primacy.''

SEC Chairman Christopher Cox, 55, hasn't endorsed a merger between the two agencies, said SEC spokesman John Nester. ``He would insist on a system of oversight that best protects investors, promotes fair markets and facilitates capital formation.''

Treasury's proposal, issued in a March 31 report, comes as lawmakers question whether the SEC has already eased up in fighting fraud. The Federal Reserve now shares oversight of investment banks, and the SEC is moving to transfer some responsibilities for monitoring accounting rules and securities sales to overseas regulators.

Policy Change

Senate Banking Committee Chairman Christopher Dodd, a Connecticut Democrat, and Jack Reed, a Rhode Island Democrat, have asked government watchdogs to investigate why SEC sanctions against companies and individuals plunged 51 percent, to $1.6 billion, in the regulator's most recent fiscal year. The agency also opened 15 percent fewer probes over the same period, according to its annual reports.

The drop in fines, Dodd and Reed said in a March 20 letter to the Government Accountability Office, ``raises questions about whether changes have taken place in enforcement philosophy or scope of activity.'' The two senators asked the GAO to review a policy change implemented last year by Cox that requires agency attorneys to get approval from commissioners before negotiating corporate fines.

Milken, Enron

Cox, in an April 1 letter to Dodd, said the SEC has demonstrated ``vigorous enforcement of the securities laws.'' He noted that the agency brought 655 cases in the fiscal year ended in September, the second-most in its history. The number of inquiries that resulted in enforcement actions within two years, however, fell to 54 percent last year, down from 64 percent in 2006, according to the agency's annual reports.

The SEC was created by President Franklin Roosevelt to restore investor confidence after the 1929 stock market crash. It regulates brokers, stock exchanges, money managers and public companies, and sues them for violating securities laws.

The agency gained prominence in 1990 for its insider-trading probe of former Drexel Burnham Lambert Inc. bond trader Michael Milken and its collaboration with the Justice Department earlier this decade in investigating Enron Corp., the defunct energy trader accused of accounting fraud.

Liquidity Shortage

While Milken was never convicted of insider-trading, he served 22 months in prison for securities fraud and paid $1.1 billion in fines. Enron's former chairman and chief executive officer were convicted of deceiving the company's investors, and the SEC extracted more than $400 million in penalties from the bankrupt energy trader's banks.

Oversight of Wall Street investment banks was primarily the SEC's responsibility until rumors of a liquidity shortage at Bear Stearns Cos. triggered the firm's near collapse and forced a sale to JPMorgan Chase & Co. on March 16. Cash and easy-to-sell assets plunged to $2 billion at New York-based Bear Stearns on March 13 from $12.4 billion a day earlier, according to the SEC.

The Fed, which orchestrated Bear Stearns's takeover to prevent a market panic, is now lending money to securities firms for the first time since the Great Depression. The central bank also has examiners onsite at such companies as Lehman Brothers Holdings Inc. and Goldman Sachs Group Inc. to help the SEC scrutinize capital and liquidity.

Writing New Rules

Treasury Secretary Henry Paulson, who was previously Goldman's chairman, wants to increase the Fed's power further by giving the central bank a hand in writing rules for securities firms and making it responsible for monitoring risks that Wall Street poses to the U.S. economy.

His 218-page report, which was in the works before the credit crisis, also says the SEC should rely more on the $11.7 trillion mutual-fund industry to police itself. Most of the recommendations would require changes in legislation.

Donaldson, a Republican who stepped down as SEC chairman in June 2005, was also critical of Paulson's approach. ``Before you start rearranging the organization of the financial-regulatory agencies,'' he said in an interview, ``you must examine how all of this happened.'' Congress needs to determine ``whether new powers are needed or whether there were powers there that were not used.''

Even without legislation, the SEC is changing. Last year the agency dropped a requirement that overseas companies align their financial statements with U.S. accounting rules. It's now considering letting American companies use international rules as part of a plan to move to global standards for accounting provisions. In doing so, said Levitt, the SEC risks relinquishing its oversight of how companies report profit and revenue under rules drafted by the Norwalk, Connecticut-based Financial Accounting Standards Board.

Overseas Regulators

``That proposal does more violence to protecting America's investors from the standpoint of transparency as anything in the Paulson proposal,'' said Levitt, who is now a senior adviser at Carlyle Group Inc. and a board member of Bloomberg LP, the parent of Bloomberg News.

Cox, in a January speech, said the SEC is doing ``everything within our power to ensure that financial-reporting information from different countries is comparable and reliable.'' He said the SEC and overseas regulators have to ``harmonize our differing sets of rulebooks'' to respond to growing public demand for cross-border investing.

Separately, the SEC is also considering easing its rules to allow foreign stock exchanges and brokerages to sell securities directly to U.S. investors. The plan would permit transactions under the watch of overseas regulators who have rules that are similar to those in the U.S.

Reed, who heads the Senate Subcommittee on Securities, Insurance and Investment, said he will hold hearings on the proposal. ``No other regulator,'' he said in an April 1 speech, ``no matter how conscientious, is likely to share our same commitment to protecting U.S. investors.''

To contact the reporter on this story: Jesse Westbrook in Washington at jwestbrook1@bloomberg.net.

Last Updated: April 8, 2008 09:42 EDT

bloomberg.com

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To: anniebonny who wrote (103199)4/16/2008 10:36:04 AM
From: anniebonny
   of 122039
 
AETE Discloses SEC Investigation
Wednesday April 16, 9:16 am ET

HOUSTON--(BUSINESS WIRE)--The Alternative Energy Technology Center, Inc. (OTC:AETE - News) announced today that it has been notified by the SEC that it is investigating concerns related to stock distribution under a 504 Regulation D filing, complaints of e-mail spam originating from third parties and questions related to its technology. The SEC temporarily suspended trading in the Company’s stock through April 15, 2008. AETE is providing information requested and addressing the stated concerns of the SEC.
ADVERTISEMENT


The Company: The Alternative Energy Technology Center, Inc. (OTC:AETE - News), based in The Woodlands, TX, is a technology company focused on biofuels and alternative energy technologies. It will focus on technologies using renewable energy inputs from non-food energy sources and on technologies that can be scaled up to efficiently addresses the post-petroleum energy needs of the United States.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Contact:
The Alternative Energy Technology Center, Inc.
David Mordekhay, 832-358-0203
www.Altenergytechcenter.com

--------------------------------------------------------------------------------
Source: The Alternative Energy Technology Center, Inc.

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To: Jeffrey S. Mitchell who wrote (103320)4/16/2008 11:31:51 AM
From: scion
   of 122039
 
On CNOA, CNBC Aids And Abets Penny Stock Promoters

Tags: ANALysts, CNBC, Criminals, Financial Media Circus, Manipulation, Press, Scandals, idiots
timothysykes.com

Let me start by saying I have no problem whatsoever with penny stock promotion—these tiny / failing / fraudulent companies need all the exposure / hype they can get or else they’ll never raise any capital and fail / be exposed as the frauds that they are soon rather than later. But I do take offense when entertainment outlets like CNBC try to pass themselves off as credible researchers. As I’ve posted HERE and HERE, their bumbling has hurt too many investors and they’ve helped make people afraid of penny stocks—which I cannot permit.

Now, one of their wannabe journalists / entertainers, Sri Jegarajah, has written the single most naïve penny stock article I’ve ever read, “Wild About Rice” in which Sri mistakes paid-for stock promotion for credible research forcing me to explain the rules of the game to all the poor schmucks who mistakenly view CNBC as a credible source.

Besides quoting CNOA’s CEO (we all know how useless that is, what’s he gonna admit the company’s a pump and dump scheme?), and a Seeking Alpha article—whose writers are no more qualified than bums begging for change on the street, Sri proudly quotes Source Advisors, forgetting (not realizing?) to mention they’ve been paid $25,000 “by a third party” (pump and dumper, cough, cough) to publish their BS report. And, as if to repent for his sins, Sri closes out the article quoting Patrick Murphy of Murphy Analytics who was only paid $1,000 for his efforts (scroll down to the bottom and be better than Sri, aka read the disclaimer).

Sorry Sri, I’m gonna have to take you down on this—you’re either lazy, naïve, stupid or corrupt—take your pick–no matter how you slice it you should be fired. You’re no journalist, you’re an entertainer, go learn to play a musical instrument, maybe you won’t hurt as many people in that racket.

And don’t even think about coming at me with CNOA’s earnings report. Yes, to naïve investors, it looks beautiful, but they forget that China—and more specifically—Chinese penny stocks—are beautifully corrupt. Any and all figures are sure to be exaggerated—at best—and totally fraudulent at worst. The only reason I don’t bother digging cuz I don’t feel like getting my kneecaps busted by these promoters. Not that it would even do any good because the only thing that matters here is QUIN. They are the market makers who blatantly control where this stock goes. They can pump this thing up to $3-$4 if they want, they don’t even have to pay off idiots like Sri, at least probly not (I’m not sure of what Sri’s deal is with them).

As if it couldn’t get any worse, pumpers are spreading false rumors that Jim Rogers likes CNOA—all because this article made the amazing connection that CNOA is a Chinese play and Jim Rogers likes China (no direct connection whatsoever!).

And you guys wonder why I’m so cynical—behold the joke that is the finance industry!

Disclaimer: I have no position, QUIN hasn’t pumped the stock up enough to interest me to short…yet, nor would I ever buy this stock cuz I like to sleep well at night! I just enjoy cutting through the BS.

timothysykes.com

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To: anniebonny who wrote (103321)4/16/2008 11:48:45 AM
From: StockDung
   of 122039
 
Ethanol for a Dollar a Gallon?

Contributed by: Michael Hall
Date: 20 Mar, 2008

Alternative Energy Technology Center, Inc. (Pink Sheets: AETE) this week announced plans for $1 a gallon ethanol. Part of the company's press release reads:

"The Alternative Energy Technology Center, Inc. announced its plans to produce ethanol for the U.S. market at less than $1 per gallon. AETE will refine biomass into fuel products using its exclusive technology. ... AETE’s process using common cellulosic biomass will produce ethanol for less than $1 per gallon."

Cellulosic ethanol is produced using cellulosic feedstocks, such as wood chips or crop waste. "Cellulosic" is the buzzword in ethanol nowadays.

One reason for cellulosic ethanol's sudden popularity is that the price of corn reached record levels recently, soaring past $5 a bushel. Yesterday, corn futures for May fell the maximum allowable 20 cents, but still the price was $5.2725 a bushel. Even with gas prices also high, corn ethanol is too expensive under the circumstances, generally costing more than $2 a gallon to produce.

Another reason for the cellulosic hype is that the Department of Energy and George W. Bush have recently been supportive of cellulosic ethanol efforts. See the hotstocked articles "Corn Ethanol Stocks Reel from Bush's Words" and "Waste Not, Want Not".

The company's press release quotes its president, Brown Marks, as saying:

“One dollar ethanol will allow us to operate profitably without government subsidies or incentives. We expect to produce over 100 gallons of fuel per ton of cellulosic biomass which costs about $65 in today’s market.”

However, Alternative Energy Technology Center's last SEC-filed accounting, which is for the period ending September 30, 2007, never once mentions the word "cellulosic." It appears that their intention at the time was to manufacture ethanol from corn. How can a company that was not in the cellulosic ethanol business a few months ago make such bold claims?

The answer is that the company also announced last month the acquisition of a subsidiary that has cellulosic ethanol technology. The company's website explains:

"Through the acquisition of Meridian Biorefining, Inc., AETE can now process common biomass such as sawdust, switchgrass, corn stover and other plant material into biofuels at a price that makes sense. This is done using advanced, low-heat processing technology licensed exclusively by Meridian for AETE."

Investors should be cautious of these statements, without more information about Meridian Biorefining.

Alternative Energy Technology Center has jumped on the cellulosic ethanol bandwagon, but Verenium (VRNM), Lignol (TS-V: LEC), and Pacific Ethanol (PEIX) were on the bandwagon long before, and each of those companies was a recent co-receiver of multi-million dollar grants from the Department of Energy to build cellulosic ethanol demonstration plants.

Alternative Energy Technology Center's stock, AETE, is currently trading at $3.15 a share, up over 33% in the last four days since this "$1 ethanol" press release. This week's increase seems a bit excessive, given that there was little new information in the press release. The company already announced the acquisition of Meridian Biorefining back on February 11.

For now, $1 ethanol is just talk.

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From: StockDung4/16/2008 12:01:16 PM
   of 122039
 
Patrick Byrne Has a Sense of Humor garyweiss.blogspot.com

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From: StockDung4/16/2008 1:14:32 PM
   of 122039
 
Vitamins A, C and E are 'a waste of time and may even shorten your life'

Last updated at 17:37pm on 16.04.08
thisislondon.co.uk


Vitamins taken by around a third of the population do not extend life and may even cause premature death, according to a respected group of international scientists.

After reviewing 67 studies involving more than 230,000 men and women, the experts say there is no convincing evidence that taking supplements of the antioxidant vitamins A, C and E can make you healthier.

The alarming findings, published today, will shock Britons who spend £333million a year on supplements.

Forty per cent of women and 30 per cent of men take a vitamin pill each day.

The review involved trials on beta-carotene, vitamin A, vitamin C, vitamin E and selenium.

It says in-depth analysis of the different trials does not support the idea that vitamins extend lifespan.

'Even more, beta-carotene, vitamin A, and vitamin E seem to increase mortality,' says the review.

Vitamin A was linked to a 16 per cent increase in mortality, beta-carotene - the pigment found in carrots, tomatoes and broccoli which the body converts into vitamin A - to a 7 per cent increase and vitamin E to a 4 per cent increase. However, there was no significant detrimental effect caused by vitamin C.

'There was no evidence to support either healthy people using antioxidants to prevent disease or for sick people to take them to get better,' said the review.

It said more research was needed on vitamin C and selenium.

Antioxidants are used by the body as protection against free radicals, which are molecules produced during normal metabolism.

These can damage the body if they flourish in an uncontrolled way as a result of illness, overexposure to toxins or ageing.

It is thought antioxidants such as vitamin C confer health benefits by 'grabbing' or neutralising free radicals, and many people take them as health 'insurance'.

The theory behind using antioxidants is to combat oxidation - the chemical reaction that causes metals to rust - which in cells can damage DNA, thus raising the risk of cancer, other diseases and the changes associated with ageing.

Previous human and animal laboratory research suggested that boosting antioxidant levels in the body might extend life, but other studies produced neutral or even harmful results.

The review is published by the Cochrane Library, a publication of the Cochrane Collaboration, an international organisation which evaluates healthcare research.

Altogether 47 trials involving 180,938 people were classified as having a low risk of bias which showed 'antioxidant supplements significantly increased mortality'.

Goran Bjelakovic, who led the review at the Copenhagen University Hospital in Denmark, said: 'We could find no evidence to support taking antioxidant supplements to reduce the risk of dying earlier in healthy people or patients with various diseases.

'The findings of our review show that if anything, people in trial groups given the antioxidants beta-carotene, vitamin A, and vitamin E showed increased rates of mortality.

'There was no indication that vitamin C and selenium may have positive or negative effects. So, regarding these antioxidants, we need more data from randomised trials.

'The bottom line is that current evidence does not support the use of antioxidant supplements in the general healthy population or in patients with certain diseases.'

The review does not offer any biological explanation as to why supplements can cause harm, although it has been suggested that betacarotene, for example, might interfere with the body's use of fats.

There is no suggestion from the review that a healthy diet including plenty of vegetables and fruit - natural sources of antioxidants - is harmful.

The latest scare has infuriated many in the vitamins industry and nutritionists such as Patrick Holford who believe there is a campaign by the medical establishment to discredit their products and their role in optimising health.

Mr Holford said the review was 'a stitch-up' because all the studies were chosen strictly for reducing mortality, and not for the many advantages reported in other studies.

He said: 'The only way this review could produce the negative results was by finding reasons to exclude most of the positive studies, including all the positive ones on selenium.'

Although the authors claimed to be assessing antioxidant supplements for the prevention of mortality, they excluded all studies - 405 of them - which reported no deaths.

Mr Holford said: 'Antioxidants are not meant to be magic bullets and should not be expected to undo a lifetime of unhealthy habits.

'But when used properly, in combination with eating a healthy diet full of fruit and vegetables, getting plenty of exercise and not smoking, antioxidant supplements can play an important role in maintaining and promoting overall health.

'I take, and will continue to take an all-round antioxidant supplementing containing these nutrients as well as CoQ10, lipoic acid and resveratrol - the "red wine" factor - and also eat a diet high in fruit and vegetables.'

Pamela Mason, of the industry-backed Health Supplements Information Service, said: 'Antioxidant vitamins, like any other vitamins, were never intended for the prevention of chronic disease and mortality.

'They are intended for health maintenance on the basis of their various physiological roles in the body and in the case of antioxidant vitamins, this does, in appropriate amounts, include a protective antioxidant effect in the body's tissues.

'These vitamins are essential for health and many people in the UK do not have an adequate intake.

'A vitamin supplement taken in recommended amounts can be beneficial for health, especially for those people whose intakes are poor.'

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From: StockDung4/16/2008 3:29:40 PM
   of 122039
 
Khashoggi, along with Ramy El-Batrawi, was the principal financier behind GenesisIntermedia, Inc. (formerly NASDAQ: GENI), a publicly traded Internet company based in Southern California. After the September 11, 2001 attacks, Khashoggi's U.S. based checking accounts were frozen and Khashoggi was unable to make a margin call with Native Nations Securities, whose CEO and largest shareholder, at the time, was Valerie Red Horse, former office manager of junk bond king, Michael Milken. In turn, Native Nations was unable to meet its obligations on it margin loan to MJK Clearing, Inc.[2][3] Trading in the stock of GenesisIntermedia was halted in September 2001. Khashoggi's unwillingness to pay his margin loan to Native Nations Securities, and Native Nations inability to pay its debts to MJK Clearing, began a series of bankruptcies that ended in the largest payout in Securities Investor Protection Corporation history.[4][5] Native Nations Securities and MJK Clearing both eventually filed for bankruptcy.[6]

American University used to have a prominent building named the Khashoggi Center but after he defaulted on his donation pledge, the school removed his name from the building.

Khashoggi continues to live a quiet life in the Principality of Monaco, even after a British court order him to pay a creditor the amount of £7 million. His services as a facilitator have been a recurring feature throughout US administrations since Nixon; most recently, he met with Richard Perle shortly before the American invasion of Iraq, in 2003.

en.wikipedia.org

Adnan Khashoggi
From Wikipedia, the free encyclopedia
Jump to: navigation, search
Adnan Khashoggi (or Kashoggi) (Arabic:????? ??????) (born 25 July 1935 in Mecca) is a billionaire Saudi Arabian arms-dealer and businessman. He is also noted for his engagements with high society in both the Occidental and Arabic-speaking worlds, and for his involvement in the Iran-Contra, BCCI and numerous other affairs.

Contents
[hide]
1 History
2 Personal life
2.1 Divorce from Soraya
2.2 Association with Heather Mills
3 In Popular Culture
4 See also
5 References
6 External links


[edit] History
Adnan Khashoggi is the son of Muhammad Khashoggi, a Saudi medical doctor who was Turkish by descent; Dr.Mohammad Khashoggi was King Abdel Aziz AlSaud's personal Physician.The family name means spoonmaker in Turkish. Adnan Khashogg's sister Samira Khashoggi Fayed was the mother of Dodi Fayed, who died with Princess Diana.

Khashoggi was educated at Victoria College in Alexandria, Egypt, California State University, Chico, Ohio State University, and Stanford University in Palo Alto, California, USA. It is said that Khashoggi quit his studies in order to seek his fortune in business.

Khashoggi headed a company called Triad Holding Company, which among other things built the Triad Centre in Salt Lake City, Utah, which later went bankrupt. He was famed as an arms dealer, brokering deals between US firms and the Saudi Government, most actively in the 1960s and 1970s. In the documentary The Mayfair Set, Saudi author Said Aburish states that one of Adnan's first weapons deal was providing David Stirling with weapons for a covert mission in Yemen during the Aden Emergency in 1963. Among his overseas clients were defense contractors Lockheed Corporation (now Lockheed Martin Corporation), Raytheon, Grumman Aircraft Engineering Corporation and Northrop Corporation (which have now merged into Northrop Grumman). A shrewd businessman, he covered his financial tracks by establishing front companies in Switzerland and Liechtenstein to handle his commissions as well as developing contacts with notables such as CIA officers James H. Critchfield and Kim Roosevelt and US businessman Bebe Rebozo, a close associate of former US President Richard Nixon. He was also involved in diamond mining in the Central African Empire, working closely with the dictator Bokassa.

He was implicated in the Iran-Contra Affair as a key middleman in the arms-for-hostages exchange along with Iranian arms dealer Manucher Ghorbanifar and, in a complex series of events, was found to have borrowed money for these arms purchases from the now-bankrupt financial institution the Bank of Credit and Commerce International with Saudi and US backing. In 1988, Khashoggi was arrested in Switzerland, accused of concealing funds, and held for three months and then extradited to the United States where he was released on bail and subsequently acquitted. In 1990, a United States federal jury in Manhattan acquitted Khashoggi and Imelda Marcos, widow of the exiled Philippine President Ferdinand Marcos, of racketeering and fraud.[1] He has also worked for Col. Ghaddafi of Libya in 1992 as a mediator.

Khashoggi, along with Ramy El-Batrawi, was the principal financier behind GenesisIntermedia, Inc. (formerly NASDAQ: GENI), a publicly traded Internet company based in Southern California. After the September 11, 2001 attacks, Khashoggi's U.S. based checking accounts were frozen and Khashoggi was unable to make a margin call with Native Nations Securities, whose CEO and largest shareholder, at the time, was Valerie Red Horse, former office manager of junk bond king, Michael Milken. In turn, Native Nations was unable to meet its obligations on it margin loan to MJK Clearing, Inc.[2][3] Trading in the stock of GenesisIntermedia was halted in September 2001. Khashoggi's unwillingness to pay his margin loan to Native Nations Securities, and Native Nations inability to pay its debts to MJK Clearing, began a series of bankruptcies that ended in the largest payout in Securities Investor Protection Corporation history.[4][5] Native Nations Securities and MJK Clearing both eventually filed for bankruptcy.[6]

American University used to have a prominent building named the Khashoggi Center but after he defaulted on his donation pledge, the school removed his name from the building.

Khashoggi continues to live a quiet life in the Principality of Monaco, even after a British court order him to pay a creditor the amount of £7 million. His services as a facilitator have been a recurring feature throughout US administrations since Nixon; most recently, he met with Richard Perle shortly before the American invasion of Iraq, in 2003.

[edit] Personal life
Khashoggi was well known for leading an extravagant and wild lifestyle that was legendary in its time. This was commemorated on rock band Queen's album The Miracle, on which the second song is titled "Khashoggi's Ship". The song mentions his super yacht "Nabila" (named after his daughter actress Nabila Khashoggi[1]), built by Benetti and appearing in the James Bond film Never Say Never Again. The yacht was later acquired by Donald Trump who renamed it "Trump Princess" for Ivana Trump. After Donald Trump's divorce, the yacht was repossessed and then sold by an American Express subsidiary bank to another Saudi Businessman, Al-Waleed bin Talal, a nephew of the king of Saudi Arabia. It is now kept at berth number one in Antibes with an occasional cruise to Cannes, in the south of France under the new name of "Kingdom 5KR".

In addition to the yacht, he also had an opulent DC-8 jet with futuristic custom interior built around 1980. It is featured in the last issue of Nest Magazine.

At his 50th birthday party, held in Marbella, Spain in 1985, said to have cost millions of dollars, he entertained celebrity guests such as Sean Connery, Shirley Bassey, porn star Olinka Hardiman, Brooke Shields, Michael Caine, and George Hamilton IV.

Adnan's son, Khalid Khashoggi, was rumored to have problems with drinking and drug addiction. He is now living in New York or New Jersey. He also has a son named Kamal Khashoggi, who goes to The British Internationl School of Jeddah aka Conti which is located in Saudi Arabia, Jeddah.

[edit] Divorce from Soraya
In divorcing his wife, Soraya, in 1980, Khashoggi agreed to one of the largest divorce settlements on record; one figure was quoted at £548.4m,[7] but reports vary wildly and part of the value of the settlement was said to have been tied to oil prices.

It later emerged that one of his daughters (Petrina Khashoggi) with ex-wife Soraya turned out, on DNA testing at age 18, to be the daughter of UK Tory Cabinet Minister Jonathan Aitken, soon to be disgraced for his role in accepting a gift from another arms dealer, Mohammed Said Ayas, a Lebanese and a close associate of Prince Muhammad bin Fahd of Saudi Arabia. In his libel suit against the Guardian newspaper, Aitken perjured himself over this gift of accommodation at the Paris Ritz and went to jail.

[edit] Association with Heather Mills
In 2006, he was named in the News of the World as a client of Heather Mills when she allegedly worked as a model. As corroboration, News of the World provided an affidavit from escort Denise Hewitt, who said she worked with Mills in the service of "Saudi royalty" (not naming Khashoggi specifically), and that Mills boasted of services rendered to afluent clients earning up to £10,000 in a single night.[8] News of the World also produced a man named Abdul Khoury, who stated he was Khashoggi's personal secretary from 1977 to 2005 and had day-to-day knowledge of Khashoggi's business dealings and personal affairs. Khoury affirmed the veracity of reports of Mills's providing erotic services to Khashoggi, and in unequivocal detail.

The Daily Mail further produced accounts of other friends of Mills's affirming that she had worked as an escort on other occasions.[9]

These accusations have never been tested in a court of law; nor have Khashoggi or Mills (as of early 2007) initiated libel proceedings against Khoury, the News of the World or any media outlets carrying the story (despite the relatively favorable legal climate that exists in the UK for doing so). Through her lawyers, Mills has denied ever having been a sex worker, says the accusations come from unreliable persons and are timed to cause maximum hurt, and has expressed her intention to sue as soon as her divorce is concluded.[10]

[edit] In Popular Culture
Khashoggi's Ship, a song on the 1989 Album The Miracle by rock band Queen is about Adnan Khashoggi and a ship (the Nabila, now Kingdom 5KR) that he owned at the time.
The Swedish dance music band Army of Lovers has referenced Khashoggi in two songs. In La Plage De Saint Tropez with the line: "We met Khashoggi with a gun", and in I am with the lines: "I am, what Bobby is to Pam, Khashoggi to Iran, I am".
Harold Robbins´novel The Pirate (1974) is supposed to be inspired by the life and lifestyle of Khashoggi
As well, Khashoggi is the name of one of the antagonist characters in the musical based on Queen's works, We Will Rock You.

[edit] See also
Ghaith Pharaon
Ahmed Zaki Yamani
Ramy El-Batrawi
Larry J. Kolb, who tells of his experience working closely with Khashoggi in his book Overworld: The Life and Times of a Reluctant Spy (New York: Riverhead Books, 2004)

[edit] References
^ Marcos Juror Among Stewart Jury Finalists (Jan. 25, 2004). Retrieved on September 11, 2007.
^ In the Matter of Dean C. Reder, Securities and Exchange Commission, March 26, 2007.
^ Mudry, Brent. "SEC files first suit in GenesisIntermedia debacle", Canada StockWatch, June 4, 2003.
^ Form 12B-25, Notification of Late Filing, Securities and Exchange Commission, November 14, 2001.
^ SIPC. [http://www.sipc.org/media/release10oct.cfm " SIPC: BANKRUPTCY COURT CLEARS SALE OF TROUBLED MINNESOTA BROKERAGE FIRM, 175,000-Customer Firm Failure is Largest Ever Handled by SIPC"], SIPC, October 2, 2001.
^ SIPC vs. MJK Clearing, Inc., United States Bankruptcy Court, District of Minnesota', September 30, 2006.'
^ virgin.net
^ Matt Born. Heather was a high-class hooker paid thousands.
^ Laura Collins. Heather just stood there, naked, unashamed and unabashed.
^ CBC.ca Arts - Mills McCartney to sue over 'defamatory' allegations

[edit] External links
Ramy El-Batrawi
Rajiv Gandhi Murder Controversy
TIME Magazine Cover: Adnan Khashoggi Jan. 19, 1987
Notes on The Richest Man In The World by Ronald Kessler ISBN 0-446-51339-3
Profile at NNDB
Death of a Princess
Chapter Servants of the Crown from Saïd K. Aburish's The House of Saud ISBN 0-7475-7874-5
Did Adnan Khashoggi Throw the Election to Dubya?
More "Six Degrees of Adnan Khashoggi"
TSX member Deutsche Bank in major penny stock scandal article by Brent Mudry
Banking units embroiled in lawsuit copy of a Globe and Mail article by Karen Howlett
Why was Richard Perle meeting with Adnan Khashoggi? The New Yorker article by Seymour Hersh, March 2003.
Adnan Khashoggi, Rakesh Saxena and the Spiderweb
Retrieved from "http://en.wikipedia.org/wiki/Adnan_Khashoggi"
Categories: 1935 births | Living people | Saudi Arabian businesspeople | Arms traders | American political scandals

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To: StockDung who wrote (103326)4/16/2008 3:42:09 PM
From: scion
   of 122039
 
a. James Turek testified during his deposition in this case that an agreement was reached with George Butler, Chief Executive Officer of FNBB in Las Vegas, Nevada reducing the indebtedness from $1,448,039.95 to $500,000 and that the agreement was recorded on a cocktail napkin.

b. Attached hereto and incorporated herein as Exhibit "A" is a cocktail napkin from the Rio All Suites Hotel & Casino in Las Vegas, Nevada that has written on it "Agreement between Plasticon & First Nat'L Barnesville" and is executed by "James Turek Pres, Plasticon" and by "George Butler, CEO. FNBBV".


c. Attached hereto and incorporated herein as Exhibit "B" is a copy of a letter dated February 22, 2005 from George Butler, President of FNBB, addressed to "Jim" in regard to FNBB selling "Wicklund Holding Company's original loan to Promotional Container, Inc." and terminating FNBB's "previous agreement with Wicklund Holding Company".

d. In the February 22, 2005 letter George Butler stated "As I have indicated to you I have released the collateral and will shortly provide you the loan documents and pay-off statements per our agreement."

e. Attached hereto and incorporated herein as Exhibit "C" is a copy of a letter dated April 21, 2006 from "George" at FNBB addressed to "Jim" verifying that "as of January 1, 2005 your company's (Plasticon's) debt to our bank was $500,000." and a copy of the FNBB fax coversheet dated April 21, 2006 from George Butler to Judy Payner at Plasticon.

----------------

04/16/2008 432 Objection Filed by 10315 LLC, John P Murphy III, John P. Murphy Revocable Trust No. 1 III, Pro Plas LLC (RE: related document(s)407 Motion for Relief From Stay filed by Creditor First National Bank of Barnesville, Georgia). (Case, E.) (Entered: 04/16/2008)

Message 24503509

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From: StockDung4/16/2008 3:59:04 PM
   of 122039
 
Byrne, Baby, Byrne Apr 15 2008 4:05PM EDT

portfolio.com

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From: StockDung4/16/2008 4:14:46 PM
   of 122039
 
UBS Financial Services Inc. (CRD #8174,Weehawken, New Jersey) submitted a Letter
of Acceptance,Waiver and Consent in which the firmwas censured, fined $110,000,
required to pay $2,719.65, plus interest, in restitution to public customers, and required
to revise its written supervisory procedures regarding short sales and short interest
reporting.Without admitting or denying the findings, the firmconsented to the
described sanctions and to the entry of findings that in transactions for or with
customers, it failed to use reasonable diligence to ascertain the best inter-dealer
market, and failed to buy or sell in suchmarket so that the resultant price to its
customers was as favorable as possible under prevailingmarket conditions. The
findings stated that the firmexecuted short sale orders and failed to properlymark the
order tickets as short. The findings also stated that the firmaccepted customer short
sale orders in securities and, for each order, failed tomake/annotate an affirmative
determination that the firmwould receive delivery of the security on the customer’s
behalf, or that the firmcould borrow the security on the customer’s behalf for delivery
by settlement date. The findings also included that the firmexecuted short sale
transactions and failed to report each of the transactions to the TRF with a short sale
modifier. FINRA found that the firm’s supervisory systemdid not provide for supervision
reasonably designed to achieve compliance with applicable securities laws, regulations
and NASD rules concerning short sales and short interest reporting. FINRA also found
that the firmsubmitted incorrect short interest reports to FINRA and transmitted
reports to OATS that contained inaccurate, incomplete or improperly formatted data, in
that the reports erroneously reported, or failed to report, display flags to OATS. (FINRA
Case #20041000031-01)

finra.org

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