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$20M STOX SCAM By Kati Cornell Smith and Mark Bulliet
March 24, 2006 -- MOBSTERS STOKED BROKERAGE 'BOILER ROOMS': FEDS A gaggle of gangsters orchestrated a staggering $20 million boiler-room scheme by seizing control of brokerage houses around the city and terrorizing employees - including one stock promoter who was kidnapped and chained to a pit bull, the feds charged yesterday.
Ten members and associates of the Colombo, Luchese and Bonanno crime families teamed up to infiltrate at least 15 branch offices of brokerage firms in Brooklyn, Manhattan and Staten Island in a decade-long scheme, court papers show.
The lucrative boiler-room operation preyed on unsuspecting investors, many of whom paid inflated prices for shares sold by mobsters and their cohorts that later plummeted in value.
Among those nabbed by the FBI yesterday were reputed Mafia capo Joseph Baudanza, 61, who served on a ruling panel that governed the Colombo crime family, his brother Carmine Baudanza, 63, an alleged Colombo associate, and his nephew, reputed Luchese wiseguy John Baudanza, 36.
The scheme's success centered on the use of muscle-bound enforcers - some with ties to Russian organized crime - who allegedly dished out death threats and severe beatings to brokerage-firm owners, stock promoters and "cold caller" brokers who put up resistance.
In one especially demented attack in 2000, reputed Colombo associate Robert Podlog, 32, allegedly kidnapped a stock promoter and chained him to a pit bull until he paid money that his abductor claimed he was owed.
In February 1999, Podlog and two others beat a broker with a bat and then stabbed him in the head while a cold caller was pummeled with a golf club, according to prosecutors.
Charges in a sweeping indictment unsealed yesterday in Brooklyn federal court include racketeering, securities fraud and money laundering, extortion, witness tampering and kidnapping, and carry maximum sentences ranging from 35 to 95 years.
All 10 alleged gangsters pleaded not guilty yesterday at an arraignment in Brooklyn federal court.
The Baudanzas and Podlog were ordered temporarily detained by Magistrate Judge Marilyn Go.
The arrests follow a three-year investigation by the FBI and the IRS.
"They routinely threatened individuals to prevent them from reporting the defendants' illegal activities to law enforcement. This violent and corrupt behavior was essential to the success of the securities fraud scheme," Assistant U.S. Attorney Patricia Notopoulos wrote in a detention memo.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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Icon 1 posted September 05, 2004 19:18 Edit/Delete Post Reply With Quote Come on guys, present a pick like SCOS and people do not even appreciate it! I for one got in and am very happy I did. Did some pretty heavy DD and like the market a lot. Also their programming is the best in the sports biz.........take a hard look, this board hasn't had a big winner like SCOS is going to be and already has for some.
RED ALERT THIS and DD SCOS , AllStocks SCOS - Snocone Systems play is going places.
LOL
then of course the rest of the story you already know the PR comes out and the price spikes for a day or two and then? the dump...
in this one's 10Q? they stated their rent was 450$ canadian per month
450$ canadian? what is that excatly 375US$? what do you get for that? 100 square feet? a cubicle?
YOUR PARENTS BASEMENT? LOL... this one was posted right here at allstocks and went from 10 cents to 1.40$ last year and the year before....
the symbol was SCOS, now it's WYDY...
pull a two year chart?
who's yer daddy looks pretty much legit now, but this thing was a huge p&d until they went to WYDY....
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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JUST REMEMBER? if you do find these? be careful how you post on them...
my understanding is that the SEC doesn't go after people who TELL THE TRUTH....
but so many people have been burned over the last few years that they cannot ignore these operations anymore.... personnally? once i figured out how it works? i quickly got to the point where i don't really want anything at all to do with them EVEN THO there's lots of $ to be made for those with strict discipline (don't be greedy)
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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