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by Mike Caswell

William Anguka and Ahmad Ghaznawi, two on-line touts the U.S. Securities and Exchange Commission accuses of participating in the manipulation of Vancouver's Forum National Investments Ltd., deny that they did anything wrong. They say that they relied in good faith upon the decisions made by the company's principals, and claim to have no knowledge of the manipulation SEC complains of. They ask that the judge dismiss the case.

CANADA.COM

Dan Clozza

The men are responding to civil charges the SEC filed against them and two others, Vancouver's Dan Clozza and Abbotsford's Robert Dunn. The SEC cited the men for boosting Forum National Investments, a purported travel company, to $1.90 with misleading tout sheets. (All figures are in U.S. dollars.) Among other things, the on-line reports assigned the company a $10 target price and said it was an "URGENT BUY ALERT." Meanwhile Mr. Clozza's relatives and associates were selling the stock, as was Mr. Dunn, according to the SEC.

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