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BigTime
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Joined: Jun 15, 2006
Posts: 111

PostPosted: Fri Aug 18, 2006 4:06 pm    Post subject: Interesting article from Wilmington, Del., newspaper Reply with quote Back to top

http://www.wilmingtonstar.com/apps/pbcs.dll/article?AID=/20060806/NEWS/608060372/1002/business

Dear Mr. Berko: A business associate wrote to ask you about Vonage before it came out telling you that he was offered 1,000 shares and asked your opinion. He showed me your two-word response in capital letters that said "ABSOLUTELY NOT." He didn't buy it, but I did, and I'm down by $7,000. How could you be so certain? What did you know that others don't?

[...]

M.M.
Elkhart, Ind.

Dear M.M.: Vonage Holdings Corp. (VG) was an easy decision. Its chairman and founder, Jeffrey Citron, engaged in fraudulent trading activity. That is the first important reason I wouldn't touch the stock.

Back in 1993, when this lad was 23, he developed an elegant trading scheme involving the Nasdaq's Small Order Execution System to rip off hundreds of thousands of small investors who bought and sold over-the-counter stocks. The scheme was so brilliantly coordinated that Citron and his pals were able to skim almost $1 billion from folks like you and me until the Securities and Exchange Commission finally put him out of business nine years later.

But Citron's huge bankroll kept him out of the Federal Hotel, while he and his cronies paid a niggling $70 million in fines and generously spread some largesse among a few politically connected sleezeballs. My father used to tell me that "a man can always change what he is but never who he is." So whenever I'm in New Jersey (Citron's home state) I always lock my wallet in the hotel safe. I CAN believe that Citicorp/Smith Barney would do business with a man like that.
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nognog
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Vonage Forum Associate


Joined: May 31, 2006
Posts: 17

PostPosted: Sun Aug 20, 2006 9:03 pm    Post subject: Tom Ridge Factor Reply with quote Back to top

But Citron's huge bankroll kept him out of the Federal Hotel, while he and his cronies paid a niggling $70 million in fines and generously spread some largesse among a few politically connected sleezeballs.


IsTom Ridge one politician being reffered here? After all he is in the Vonage board. Maybe Vonage users will have immunity against wire tapping because of such influential person in its board...that would be a great marketing theme! "Vonage: Protected by Tom Ridge"
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