Free Republic

NEW YORK (Dow Jones)--Anthony Elgindy, the controversial short-seller and online stock commentator, has been arrested on charges of racketeering, insider trading and market manipulation, a government spokeswoman said Wednesday. Jan Caldwell, a spokeswoman for the San Diego field office of the Federal Bureau of Investigation, said Elgindy, who lives in the San Diego area, was arrested at his business Tuesday. Details of the charges against Elgindy weren't immediately available. A spokeswoman for the U.S. Attorney's office in Brooklyn, N.Y., from which the charges originate, said the office would issue a statement about the Elgindy case soon.

To read entire article click text: In a court hearing in San Diego, Kenneth Breen, an assistant United States attorney, said the adviser, Amr Ibrahim Elgindy, tried to sell $300,000 in stock on the afternoon of Sept. 10 and told his broker that the stock market would soon plunge. "Perhaps Mr. Elgindy had preknowledge of Sept. 11, and rather than report it he attempted to profit from it," Mr. Breen said. So, what did Mr. Elgindy, who was trying to sell $300k in stock, tell the financial world the day after 9-11?  Read it for yourself! Immediate release InsideTruth.com...