Thursday, May 21, 2009
Penny Stock - Redux: (Alleged) Racketeering
Over a Dozen Wall Street Brokers Charged With Fraud ? A couple of the names rang a bell.
Manhattan DA Morgenthau announced indictment of sixteen people--including owners Sorbara and Markowitz--at Joseph Stevens & Co. Morgenthau said that they ran a racketeering enterprise from 2001 - 2005 that raked in $6.2 million in illegal commissions.
Just my personal recollection but all along whenever I saw this Firm's name I thought it was AS Goldmen/Stuart Winkler/Marciano Brother - related and glancing at the defendant list that is confirmed. A couple articles mention the DH Blair/Goldmen prior registrations.
These matters take so long to uncover, would you say Wheels of Justice? Or just a matter of playing catch up or what did someone call it? Due Process? Robert Brennan built and owned the prestigious Due Process Stable Golf Club in Colts Neck, NJ - where he lived until his arrest in 2001. Do you remember First Jersey, the Helicopter TV Commercials and "come grow with us"? Old Blue Eyes in B&W COME FLY WITH ME
More reminiscing? It was 1988 when then 27-year-old Anthony Marchiano opened a brokerage firm with twin brother Salvatore in NY with $50,000 cash. Named the firm A.S. Goldmen & Co., initials for Anthony and Salvatore, the men who make gold. Gold they made. Marchiano was accused of running a corrupt enterprise that prosecutors say cheated thousands of investors out of nearly $100 million in 10 stock manipulation schemes, among them a failed Naples, FL golf arena. Stories on the A.S. Goldmen case
Posted by Stuart Rosenthal