auf Yahoo-Bord zu Gewinnwarnung bei Lucent.Er kann bis zu 10 Jahre Knast kriegen und eine Geldstrafe bis zu 1Million$
Day trader convicted for posting phony Lucent earnings warning
NEW YORK, Mar 10, 2001 (AP WorldStream via COMTEX) -- A day trader has been convicted of securities fraud for posting a bogus press release on the Internet that caused the stock of Lucent Technologies to drop last March.
Fred Moldofsky, 44, of Houston, Texas, was convicted of posting a false press release on a Yahoo! Inc. message board, the U.S. Attorney for the Southern District of New York said Friday.
The releases said that Lucent expected its earnings for the second quarter were going to fall short of analysts' expectations.
The false announcement sent a ripple through Wall Street, causing the value of Lucent's stock to fall as much as 3.6 percent the next morning, from dlrs 62.62 to dlrs 60.37.
When it was determined later that day that the press releases were fake, Lucent's stock rose approximately dlrs 5 a share in eight minutes, officials said.
Moldofsky faces up to 10 years in prison and a fine of dlrs 1 million. He is scheduled to be sentenced on June 11.
Copyright 2001 Associated Press, All rights reserved
Day trader convicted for posting phony Lucent earnings warning
NEW YORK, Mar 10, 2001 (AP WorldStream via COMTEX) -- A day trader has been convicted of securities fraud for posting a bogus press release on the Internet that caused the stock of Lucent Technologies to drop last March.
Fred Moldofsky, 44, of Houston, Texas, was convicted of posting a false press release on a Yahoo! Inc. message board, the U.S. Attorney for the Southern District of New York said Friday.
The releases said that Lucent expected its earnings for the second quarter were going to fall short of analysts' expectations.
The false announcement sent a ripple through Wall Street, causing the value of Lucent's stock to fall as much as 3.6 percent the next morning, from dlrs 62.62 to dlrs 60.37.
When it was determined later that day that the press releases were fake, Lucent's stock rose approximately dlrs 5 a share in eight minutes, officials said.
Moldofsky faces up to 10 years in prison and a fine of dlrs 1 million. He is scheduled to be sentenced on June 11.
Copyright 2001 Associated Press, All rights reserved
