Barron's Exposé of CEOCast: The Fine Print

Includes: HYTM, VOII
by: SA Eli Hoffmann

Excerpt from our One Page Barron's Summary (receive it weekly by email by signing up here):

TECHNOLOGY TRADER: A Dubious Inheritance by Bill Alpert

Highlighted companies: Hythiam Inc. (NASDAQ:HYTM), VoiP Inc. (VOII)
Summary: In an unveiled (self-)promotion of print media who "do the deep reporting needed to prove a stock under- or overvalued," Technology Traded Bill Alpert finishes CEOCast 12 11 06off his damning expose of CEOCast, a penny stock shill that peddles its dubious advice in exchange for hundreds of thousands of dollars in cash and shares. Three years ago Alpert reported evidence that CEOCast was run by a big-time financial felon named Michael S. Wachs, despite the company's, and his, claims to the contrary (Wachs is banned from the banking and brokerage industries). The SEC-listed CEO, Kenneth Sgro, recently died, and from his widow's recently-filed lawsuit it seems patently obvious that Wachs has been running the show, and reaping the dividends all along. Barron's: "If the allegations prove out, then investors may want to do their own due diligence on longtime CEOcast clients like the drug-addiction treatment company Hythiam and Internet telephony firm VoiP. ."
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