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Saturday, September 23, 2006
WND Peter Paul Sycophancy Watch
Topic: WorldNetDaily

WorldNetDaily's latest piece of Peter Paul sycophancy comes in the form of a Sept. 23 article by Art Moore that promotes Paul's claim that David Kendall -- attorney for Bill Clinton, whom Paul is suing to, for all practical purposes, smear the Clintons and try to chop some time off his upcoming prison term for stock fraud -- of "filing a fabricated statement in a court brief" to quash Paul's lawsuit.

What it boils down to -- and Moore does eventually get to it after first fluffing Paul as a "business mogul": A brief filed by Kendall cites statements by Paul to claim that Paul admitted that his little stock fraud adventure brought down Stan Lee Media, the company Paul headed until it collapsed and he fled to Brazil, where he fought extradiction on fraud charges for two years (as we've detailed). Since the current version of Paul's civil lawsuit claims that Clinton's alleged backing out on a deal with Paul to work for Stan Lee Media and purportedly discouraging an investor from getting involved with the company is what brought it down, rather than Paul's admitted criminal activity, Paul is vehemently denying this.

As per usual, Moore whitewashes Paul's criminal activity, once again describing it in bamboozling legalistic terminology like "a 10(b)5 violation of the Securities and Exchange Commission." The prosecutor put in much clearer terms:

At today's guilty plea proceedings, 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.

Moore quotes Paul as saying that "I did everything humanly possible to save the company after Clinton did everything possible to destroy it," but he never point out that this behavior was illegal. And again, Moore fails to note Paul's long criminal history.

Posted by Terry K. at 10:34 PM EDT

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