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Tuesday, June 20, 2006
WND Felon Update
Topic: WorldNetDaily
A June 20 WorldNetDaily article by Art Moore details the latest doings by his Clinton-harrassing, convicted-felon buddy, Peter Paul. And, as he has done before, Moore whitewashes Paul's record of felony convictions.

Moore resorts to legal gobbledygook to describe Paul's most recent felony conviction: "Paul has pleaded guilty to a 10(b)5 violation of the Securities and Exchange Commission for not publicly disclosing control of Merrill Lynch margin accounts that held stocks in his company, Stan Lee Media. He has maintained that everything he did was under the aegis of Merrill Lynch management, compliance officers and corporate securities counsel."

As we've noted, that not how Paul's prosectors describe it:

PAUL admitted orchestrating a scheme in which he and others manipulated Stan Lee Media stock, trading it through numerous nominee accounts that hid from the investing public PAUL's ownership and control of large volumes of stock that were being traded. PAUL also admitted that to further the scheme, he sought to inflate and stabilize the price of the stock by instructing market makers in Stan Lee Media stock to execute trades that created a false appearance of constant demand and that concealed from the investing public the fact that PAUL had arranged for large blocks of stock to be sold at substantial discounts in after-hours trading. Finally, PAUL admitted that he had secretly borrowed millions of dollars on margin using as collateral the stock that he had traded through the nominee accounts; in this way PAUL concealed from the investing public that he was effectively liquidating a substantial part of his stock holdings in Stan Lee Media.

Why won't Moore describe Paul's felonies this clearly? Because Paul would lose what little credibility he has if people understood his felony record. Of course, Moore himself loses journalistic credibility every time he regurgitates Paul's claims without doing any fact-checking (which as we've noted, is a problem). Moore appears to be utterly enraptured by anything Paul says, no matter how dubious.

Posted by Terry K. at 1:54 PM EDT

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