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Context of 'September 10, 2001: Trader Makes Suspicious Investments Moves; Later Accused of 9/11 Foreknowledge'

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Nashville, Tennessee, tax protester Rodney Lynn Randolph receives a four-year prison sentence on weapons charges after a search of his home revealed an arsenal of weapons that included a hand grenade, bomb-making materials, automatic weapons parts, a .50-caliber antitank weapon, 50 pounds of gunpowder, and 200,000 rounds of ammunition. Randolph was arrested during what should have been a routine traffic stop. He had previously ignored eviction papers, claiming that he would answer only to “the regent of the earth, that being YAHSHUA, son and servant of The Father,” and that he was a “sovereign nation” unaccountable to US law. [Nashville Scene, 12/31/1999; Anti-Defamation League, 2011]

Entity Tags: Rodney Lynn Randolph

Timeline Tags: US Domestic Terrorism

A Daily Telegraph article later claims that Iraq leader Saddam Hussein puts his troops on their highest military alert since the Gulf War. A CIA official states that there was nothing obvious to warrant this move: “He was clearly expecting a massive attack and it leads you to wonder why.” Hussein apparently makes a number of other moves suggesting foreknowledge, and the article strongly suggests Iraqi complicity in the 9/11 attacks. [Daily Telegraph, 9/23/2001] Iraq will later be sued by 9/11 victims’ relatives on the grounds that they had 9/11 foreknowledge but did not warn the US.

Entity Tags: Saddam Hussein

Timeline Tags: Complete 911 Timeline

Amr “Tony” Elgindy.Amr “Tony” Elgindy. [Source: San Diego Union Tribune]Amr Elgindy orders his broker to liquidate his children’s $300,000 trust account fearing a sudden crash in the market. He also tells his stockbroker that the Dow Jones average, then at 9,600, will fall to below 3,000. Elgindy is arrested in San Diego in May 2002, along with FBI agents Jeffrey Royer and Lynn Wingate, who, according to government prosecutors, were using their FBI positions to obtain inside information on various corporations. They also questioned whether Elgindy had foreknowledge of the 9/11 attacks. [New York Times, 5/23/2002; London Times, 5/30/2002; New York Times, 6/8/2002] A report published in the San Diego Union-Tribune, however, casts some doubt on the government’s allegations. [San Diego Union-Tribune, 6/16/2002] In 2005, now former FBI agent Jeffrey Royer admits to giving Elgindy confidential details of federal investigations, including a probe of the 9/11 attacks. Royer claims he did it to use Elgindy’s knowledge to help develop evidence of criminal wrongdoing. A court case against Royer and Elgindy continues. [Associated Press, 1/5/2005]

Entity Tags: Jeffrey Royer, Lynn Wingate, Amr Elgindy

Timeline Tags: Complete 911 Timeline, 9/11 Timeline

Jérôme Kerviel.Jérôme Kerviel. [Source: Agence France-Presse]French bank Société Générale supposedly makes “a fortune” through trading, in response to the 9/11 attacks. This is according to rogue trader Jérôme Kerviel, who is employed by the bank between 2000 and 2008. In a 2009 interview with the French newspaper Le Parisien, Kerviel will say: “The best trading day in the history of Société Générale was September 11, 2001. At least, that’s what one of my managers told me.” He will add, “I don’t know how much they made, but apparently the gains were colossal.” Kerviel will not state how the bank makes these gains, but indicates it is through the short-selling of stock. He will continue the interview by saying, “I had a similar experience during the London attacks in July 2005” (see July 7, 2005), and then describe how he’d bet on a fall in the share price of German insurance company Allianz a few days before those attacks. The London bombings will cause the price of Allianz stock to crash, thereby earning Kerviel ”€500,000 in a few minutes.” [Evening Standard, 1/22/2009; London Times, 1/23/2009] Société Générale is France’s second largest bank, and one of the largest banks in Europe. [Guardian, 1/24/2008; International Herald Tribune, 1/24/2008] At the time of his interview with Le Parisien, Kerviel is alleged to have caused it record losses of almost €5 billion through his rogue dealings. He is under investigation for breach of trust, fabricating documents, and accessing computers illegally. [London Times, 1/23/2009]

Entity Tags: Société Générale, Jérôme Kerviel

Timeline Tags: Complete 911 Timeline, 9/11 Timeline

Spokesperson Paul Bresson announces that the FBI has concluded that there was no insider trading in US securities markets by people with advance knowledge of the 9/11 attacks. According to Bresson, the “vast majority” of a pre-attack surge of trading in options that bet on a drop in the stock of AMR Corp., which owns American Airlines, and UAL Corp., which owns United Airlines, was conducted by investment hedge funds implementing bearish investment strategies or hedging a line position of common stock, and was not linked to terrorists. [9/11 Commission, 8/18/2003 pdf file; St. Petersburg Times, 9/19/2003; Washington Post, 9/19/2003] However, seven months later, a paper by a professor of finance at the University of Illinois will conclude that “there is evidence of unusual option market activity in the days leading up to September 11” (see April 25, 2004). [Poteshman, 3/10/2004]

Entity Tags: Federal Bureau of Investigation, American Airlines, Paul Bresson, United Airlines

Timeline Tags: Complete 911 Timeline, 9/11 Timeline

Allen Poteshman, a professor of finance at the University of Illinois, publishes a paper demonstrating that the insider trading in options on United and American airline stocks indicates someone profited from foreknowledge of 9/11. Poteshman concludes, “There is evidence of unusual option market activity in the days leading up to September 11.” [Poteshman, 3/10/2004; Chicago Tribune, 4/25/2004]

Entity Tags: Allen Poteshman

Timeline Tags: Complete 911 Timeline, 9/11 Timeline

Mark Hemingway of the conservative National Review uses law professor Jeffrey Rosen’s analysis of prospective Supreme Court nominee Sonia Sotomayor (see May 4, 2009) to call her “dumb and obnoxious.” [National Review, 5/4/2009] Fellow Review columnist John Derbyshire responds to Hemingway’s slam by writing: “Judge Sotomayor may indeed be dumb and obnoxious; but she’s also female and Hispanic, and those are the things that count nowadays. Get with the program, Pal.” [National Review, 5/4/2009] Less than a month later, Sotomayor will be nominated to the Court (see May 26, 2009). After her nomination, Hemingway will attempt to backtrack from his characterizations of Sotomayor, claiming: “I never ‘attacked’ Sotomayor. I was only characterizing what Jeffrey Rosen wrote.” [National Review, 5/26/2009]

Entity Tags: Jeffrey Rosen, Sonia Sotomayor, US Supreme Court, John Derbyshire, Mark Hemingway

Timeline Tags: Civil Liberties

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