IP: Canadian Financial Terrorism

[Dave Farber <farber () cis upenn edu>]

From: "Lenny Raymond" <lraymond () programtrader com>


Apropos of nothing, here's an article from today's Wall Street Journal
that could be from a Gibson/Sterling/Stephenson story:




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Stock Speculators Are Suspected
In Bombings of BioChem Pharma
Associated Press




MONTREAL -- Stock speculators out to make huge profits were behind
bombings late last year at two Montreal-area plants of drug company
BioChem Pharma, police said.


But the scheme didn't succeed because stock exchanges halted trading
after the four bombs went off, limiting shifts in the share price,
police said.


"If it had worked as they wanted, they would have made a lot of money
for their retirement," Michel Bonneville, a detective with the regional
arson squad, said Wednesday.


Police offered no hints as to the identity of their suspects, but Mr.
Bonneville said arrests are expected within a few weeks.


Following the Nov. 25 bombings in Montreal and suburban Laval, there was
initial speculation that the culprits were animal-rights extremists
because BioChem uses rodents in drug and vaccine testing.


Mr. Bonneville said police have now focused their investigation on
massive trading in BioChem Pharma stock the day before and day of the
bombings.


The Montreal, Toronto and Nasdaq exchanges halted trading in the stock
for two hours after the bombings. When trading resumed, share prices had
dropped just 95 cents to $35.80.


Two bombs went off Nov. 25 at BioChem Pharma's facility in Laval and two
more at its plant in Montreal. Two other bombs found in Laval were
safely defused by police.


No one was injured in the blasts, although they shattered windows and
damaged a wall and garage door.


Biochem Pharma's best-known product is 3TC, a drug used in the treatment
of AIDS.




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Be seeing you,


-l


Lenny Raymond ................... lraymond () programtrader com
Unlisted Technologies ....... T:415 474 2050  F:415-921-2358