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Pastimes : NEIP - A lesson in how to lose a fortune with market order -- Ignore unavailable to you. Want to Upgrade?


To: Jim Bishop who wrote (12)11/16/1999 8:07:00 AM
From: Wayne Rumball  Read Replies (1) | Respond to of 20
 
Yes it seems the LGC wireless rumor started the whole thing.

The whole affair is simply unbelievable.




To: Jim Bishop who wrote (12)12/15/1999 7:44:00 PM
From: Arcane Lore  Read Replies (2) | Respond to of 20
 
Per KNBC in Los Angeles:

Alleged stock manipulation

LOS ANGELES, Dec.15 - Federal charges were filed on Wednesday against two men who allegedly used UCLA computers to post false Internet takeover messages to drive up the value of shares they held from 13 cents to more than $15.

Arash Aziz-Golshani bought 20,000 shares of NEI Web World on Nov. 12, and Hootan Melamed purchased 50,000, according to the complaint.

Over the next two days, the men allegedly used UCLA computers and aliases to post numerous messages on bulletin boards on Yahoo! and Raging Bull, falsely reporting that NEI was being bought by another company.

As a result, federal authorities say, the price of the NEI stock jumped more than 115-fold.


msnbc.com