View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
June 16, 1997updated 05 Sep 2016 1:09pm


By CBR Staff Writer

WebSecure Inc, the Saugus, Massachusetts that recently had to restate its first quarter in 1996, that ended in November last year has been delisted from Nasdaq. The reason for that restatement was an unusual one. WebSecure licensed software from a Dublin, Ireland company called Manadarin trading co Ltd. WebSecure then ‘sold’ the software on, recording first quarter revenues of $887,000, of which $792,000 came from the mystery products that WebSecure supposedly licensed. Once WebSecure restated its figures there was almost no sales left. Some of those deals were initiated by one of WebSecure’s founders, Emmanuel Pinez, also the founder and CEO of Centennial Technologies Inc. Centennial was delisted in March, after it was discovered the company has been falsely reporting its figures for more than a three and a half years. Pinez was later arrested and charged with insider trading. WebSecure doesn’t return calls to the press.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.