Employing Ex-Cons -- It's a Good Thing!
They deserve a fresh start.
Word reaches me that an ex-convict -- a man, as they used to say in the James Cagney movies, who has "paid his debt to society" -- has moved to an honored place in society.
The ex-con of whom I speak is Aleksandr Shvarts, former head of an illustrious chop house -- "boiler room" to you -- called Global Equities Group. A warm-hearted company called Edulink, Inc., situated on Coney Island Avenue in Brooklyn, has brought this man into the fold.
Isn't that sweet! And get this: They have brought on Shvarts not as a janitor or maintenace man, but as CEO! So says a recent corporate filing with the Securities and Exchange Commission.
I think it's just great Edulink is not intimidated by Shvarts's guilty plea to securities fraud or his 41-month prison sentence or the $837,436.80 in restitution that he was ordered to pay, and which he is still paying off.
I guess Shvarts owning most of the stock in the company might have something to do with this, but it doesn't matter. Not to me. What matters is that a company is doing something nice.
Edulink does some kind of media stuff, and the hard-hearted bureaucrats at the SEC just suspended trading in its stock.
© 2006 Gary Weiss. All rights reserved.
Wall Street Versus America was published by Penguin USA on April 6.
Click here for its Amazon.com listing and here for more information on the book, from my web site.
Labels: microcap fraud