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Reply #15: I did some research as you suggested [View All]

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Home » Discuss » Topic Forums » September 11 Donate to DU
LARED Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-25-08 06:07 AM
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15. I did some research as you suggested
Edited on Sun May-25-08 07:05 AM by LARED
Elgindy tried to liquidate $300,000 in his children's trust funds on 9/10/01 and publicized his prediction that the Dow would lose 2/3 of its value soon;

The odd thing is his did not actually liquidate the funds until 09/18/01. You would think a savvy trader would have timed the liquidation correctly.

When he was prosecuted for insider trading, the federal prosecutor initially alleged that Elgindy had prior knowledge of the 9/11 attacks;

When the prosecutors tried to raise this as an issue they had zero evidence that it was true in 2002. That's why a few judges have not allowed the subject in court. He was convicted in 2005 and there was still no evidence he knew about 9/11 or more importantly that he received that information from Mr. Royer

Elgindy received an extremely harsh sentence of 11 years for insider trading

I believe he was convicted of securities and wire fraud, and conspiracy and extortion.

I think one very serious question is whether Elgindy fed his FBI handlers information about impending terrorist attacks or vice versa or neither.

Perhaps there should some evidence besides an over-zealous prosecutor before you start speculation. Also how come Mr Royer did not cash in on the 9/11 information?
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