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by Stockwatch Business Reporter

Vancouver stock promoter Aly Nazerali, the plaintiff in a defamation lawsuit against the Deep Capture website, continued his cross-examination this morning by libel lawyer Roger McConchie, who represents most of the defendants. Mr. McConchie focused on an abandoned agreement by Mr. Nazerali and associates to acquire the controversial Dutch firm First Commerce Securities in the mid-1980s. Mr. Nazerali had earlier testified that through this agreement, he met Irving Kott, whom he understood at the time to be a consultant.

By way of background, Mr. Kott was a Canadian stock promoter with a history of civil and criminal violations. The Deep Capture statements that Mr. Nazerali finds defamatory claimed that Mr. Nazerali negotiated with Mr. Kott to acquire a boiler room in Amsterdam -- First Commerce Securities -- which sold worthless or virtually worthless shares. First Commerce Securities collapsed after being raided by Dutch authorities in 1986.

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