On the Move: New in Town

Expansions

Crosstown Moves

Deaths

Corrections or additions?

This articles by Barbara Fox were published in U.S. 1 Newspaper on

September 15, 1999. All rights reserved.

Legal Troubles: Martin Anderson

Three Princeton area companies find themselves in

trouble with the law. In the most serious trouble is Martin Armstrong,

the Carnegie Center-based economic forecaster who brought in ex-prime

minister Margaret Thatcher to keynote a 1996 conference. On Monday,

September 13, he was charged with federal securities fraud for

covering up trading losses of as much as $950 million in Japanese

investments.

Meanwhile former students of Cittone Institute are suing because the

school suddenly closed its Canal Pointe campus and did not fully

refund tuition. And S.T. Monforte Robotics, with stores on Routes 206

and 33, is one of five New Jersey companies accused of selling

counterfeit Microsoft software.

Armstrong, 49, was released on $5 million bail; if convicted, he could

serve up to 10 years in prison and be fined twice the value of the

alleged losses. His lawyer, Mark Durand of the Philadelphia-based

Durand and Durand, says he will fight the charge.

Armstrong directs Princeton Economics International at 214 Carnegie

Center, listed as a financial advisory service. Princeton Economics

Institute, a sister firm, distributes a newsletter for the futures

market, "The Armstrong Report," among other publications.

Armstrong is also involved with the Foundation for the Study of

Cycles,

founded in 1940 with the mission of forecasting economic catastrophe.

Armstrong is accused of using "offshore entities to sell $3

billion

in securities to Japanese investors, of which a large portion were

sold even while he concealed the fact that he had suffered hundreds

of millions of dollars in trading losses."

This investigation began last May when Japanese authorities audited

the books of Armstrong’s Japanese company, Cresvale. Ten years ago,

when Armstrong was fined $12,000 by the Commodity Futures Training

Commission for misrepresenting hypothetical performance results and

omitting required disclaimers, he spent $1 million and 10 years to

take it to the United States Supreme Court, and lost.

The suit against Cittone Institute and its parent, Lincoln Technical

Institute, was filed in Mercer County Court by 42 of the 200 students

enrolled when the Canal Pointe location suddenly closed in August

1998. Students were told to travel to Edison or Mount Laurel and were

reimbursed for the portion of the courses they had not completed.

The students seek damages for tuition costs plus court expenses.

Microsoft has recently begun to publicize its piracy hotline

(800-785-3448),

says a customer service representative on that line. To follow up

on complaints — which are sometimes made by competitors —

Microsoft sends two investigators to make purchases to confirm that

Windows purchasers receive a manual, a certificate of authenticity,

and registration card.

Responding to the Microsoft suit, Mathew Monforte, the owner of S.T.M.

Robotics, claims that his salesperson may simply have picked up a

wrong copy of the software, one that was packaged to be installed

on a computer. "It costs the same amount. One has letters on the

front and one doesn’t." Another possibility, he says, is that

he received "a couple of bad copies of software" from a

supplier.

"We are not an authorized detection center. We’re a middle

man,"

says Monforte. "I buy thousands of parts from hundreds of dealers.

We made no profits last year; the world’s biggest company is bouncing

on the smallest companies."

— Barbara Fox

Top Of Page
On the Move: New in Town

Enviro-Sciences Inc., 400 Wall Street, Princeton

08540-1517. Stephen Fleischacker, vice president. 609-688-9792; fax,

609-688-1093.

This environmental engineering firm expanded in July by moving from

Yardley and opening a 4,500-foot, 14-person office in Research Park.

For Fortune 100 clients it does environmental engineering, management,

and litigation support in the areas of soil, water, and air pollution.

Based in Mt. Arlington, New Jersey, the firm has 12 offices, most

on the East Coast.

Top Of Page
Expansions

Clive Samuels & Associates Inc., 105 College Road

East, Princeton 08540. Clive Samuels, president. 609-520-1600; fax,

609-520-0974.

The 80-person engineering firm moved from 10,000 square feet at 2

Research Way to 18,000 feet at 105 College Road. Its consultants do

mechanical and electrical engineering and automatic controls and

refrigeration

designs for commercial, industrial, and retail facilities.

Top Of Page
Crosstown Moves

PickQuick Papers, 2495 Route 1 and Texas Avenue,

Lawrence Shopping Center, Lawrenceville 08648. Ellen Scanella, trade

manager. 609-883-5488; fax, 609-883-3642.

The paper superstore has moved from its Darrah Lane location adjacent

to Triangle — Your Creative Center to Lawrence Shopping Center.

It features products for desktop publishing, copiers, and laser and

ink jet printers.

Princetonian Graphics Inc., 45 Stouts Lane, Suites

4 and 5, Monmouth Junction 08852. Ven Iyer, president. 732-329-8282.

Princetonian Graphics has moved north on Route 1, from Princeton

Service Center to Stouts Lane. Although it has a new phone and fax,

the former numbers still work. A printer, it offers in-house graphics

design, typesetting, diecutting, thermography, and single-color to

full-color print.

Top Of Page
Deaths

Anthony D. Nini, 72, on September 10. He was the owner

of Nini Chrysler Plymouth and of Narrowbrook Farm, a horse breeding

farm in Robbinsville.

Richard Fishbein, 53, research director at American

Cyanamid on Route 1, on September 11. A memorial service will be

Friday, September 17, at 3 p.m. at the Princeton University Chapel.

Frederick M. Porter Jr., 73, former chief of police and

township committeeman in Princeton Township, on September 11. The

funeral will be Saturday, September 18, at 1 p.m. at Witherspoon

Street Presbyterian Church.

Grace M. Ramsland, 70, died September 12. She retired

in 1993 from Applied Data Research, where she had been an executive

secretary.


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