LOS ANGELES, Sept. 8 /PRNewswire-FirstCall/ -- From mid 2000 till the end of 2001, GenesisIntermedia (OTC:GENI) and Ramy El-Batrawi attracted the attention of a group of aggressive short sellers intent upon artificially depressing GENI's stock price. These short sellers hoped to reap tremendous profits by shorting increasingly larger amounts of GENI stock without first borrowing it, an illegal practice commonly called "naked shorting", states Mr. El-Batrawi. The SEC has been aware of naked short selling and has failed to adequately respond to investor and Company complaints alike. As a result of the lack of diligent enforcement of their own trading rules by the SEC, every private investor who owns common shares has had their financial integrity jeopardized. Since the SEC has failed to take adequate counter measures to stop illegal short selling and trading, as with GENI, by members of the financial investment industry, there should be an independent examination by the United States Congress or Senate as to the reasons for their years of inaction. The most pressing issue affecting the stock market is naked short selling. This is a cancer -- a malignancy that threatens popular faith in the integrity of the entire system. The practice of defrauding investors by taking their money and refusing to deliver the product they paid for has many names. Some call it market manipulation, some call it naked short selling, others call it failing to deliver, still others refer to it as stock counterfeiting; many call it fraudulent stock trades. Whatever the vernacular, it is the processing of a stock sale transaction in order to depress the price of the stock, with no subsequent delivery of the stock -- the buyer doesn't get what he paid for. Non-delivery of stock is expressly forbidden by Section 9 of the Securities Exchange Act, and yet that is precisely what is occurring. The practice as described is illegal, and likely represents the single greatest threat to the US equity market, as well as the US financial system, and the engine of American prosperity that is the ability of smaller, early stage companies to access the capital markets, in order to develop and grow their businesses. Naked Short Selling is widespread, malevolent, and is at its essence, simple fraud -- money is exchanged, but no product is ever delivered. DATASOURCE: GenesisIntermedia CONTACT: Ramy El-Batrawi, +1-301-721-7269, for GenesisIntermedia Web site: http://www.growthstrategyinvestments.com/

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