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Special Event

U.S. Attorney's Office in New York Holds News Conference on Securities Fraud Crackdown

Aired June 14, 2000 - 12:19 p.m. ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

JEANNE MESERVE, CNN ANCHOR: And now we are going to go to New York, a news conference there on a big securities fraud case we told you about earlier. Right now, we go to U.S. Attorney's Office in lower Manhattan.

(JOINED IN PROGRESS)

UNIDENTIFIED MALE: ... and cooperating witnesses to target widespread criminal activity, including the influence of organized crime in the sale of small-cap stocks, private placement stocks, and related financial transactions. The defendants in this investigation are as diverse as the crimes with which they are charged. The defendants are stock promoters, stock brokers, phony stock brokers, controllers of Web sites, union officials, and mobsters.

The crime...

MESERVE: We will continue to listen. We're having a little bit of problem with the audio from that press conference. Sorry, technical problems. We will try and get back to that in just a little bit.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com

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