FBI Raids Stock Trader's Olivenhain Home

SAN DIEGO -- The FBI and sheriff's deputies raided the upscale home of a San Diego-based stock analyst in Olivenhain Tuesday night, 10News reported.

Amr Elgindy, also known as "Tony" Elgindy, was taken into custody in San Diego. He's among five defendants charged in a securities fraud investigation unsealed in a New York court Wednesday.

An FBI agent in New Mexico and a former agent from Oklahoma City allegedly accepted payments to give Elgindy information on publicly traded companies.

Elgindy then spread negative information about the companies on his Web site and to e-mail subscribers.

Elgindy and the others face several charges including racketeering. If convicted, the 34-year-old analyst could receive up to 20 years in prison.

At least four cars and a U-Haul truck were taken from a home owned by the stock trader, who has been referred to as the "Mad Max of Wall Street," 10News reported.

The home is located on the 2200 block of Calle Tres Vistas.

Mystery surrounding the raid caused a stir among neighbors, including several who told 10News that they know little of the family.

The family has reportedly lived at the home for eight months.

"He is not shy with the money he spends. It's obvious he likes to spend the money," neighbor Rose Marie Davison said.

Elgindy was sentenced May 13 by a Texas judge for felony mail fraud. He had been scheduled to turn himself into authorities on June 11, according to 10News.