another TV commentator is a paid shill - Courtney D. Smith

[donsu]

http://www.tallahassee.com/mld/tallahassee/business/10840474.htm


TV Commentator Charged in Alleged Scam

Regulators filed criminal and civil charges Monday against a financial commentator who was paid more than $1 million in cash and stock to hype shares of marketing company a during appearances on CNBC, CNN and Bloomberg TV.

The commentator, Courtney D. Smith, helped "artificially inflate" GenesisIntermedia Inc.'s stock after the company went public in 1999, the Securities and Exchange Commission alleged in a civil lawsuit filed Monday.

Federal prosecutors said Smith, 53, was arrested in his Manhattan apartment following a nine-count indictment returned by a federal grand jury in Los Angeles last week.

Authorities claim he was secretly paid about $95,000 in cash and received about $1 million of GenesisIntermedia's shares.
-snip-
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so, CNBC, CNN, Bloomberg what you got to say? hunh?

[davidinalameda]

1. isn't that fairly common with business "reporters"

I've heard of a few getting busted like this

[ewagner]

2. WHOA! did you see this????

"Genesis' biggest lender and shareholder was Adnan Khashoggi, a Saudi Arabian millionaire known for his role as a middleman between former President Ronald Reagan's administration and its arms sales to Iran."

Isn't this another link to the Bush administration?????

[cthrumatrix]

3. look for CNBC to do a big story......................NOT

[Quakerfriend]

4. Great spot!

I wonder if Madsen knows of this connection?