Advertisement
YOU ARE HERE: LAT HomeCollections

BRIEFLY

More defendants settled stock fraud charges.

March 07, 1985

Thomas W. Reid, Peter Vito and B&M Investments Inc. settled charges that they joined in a scheme to buy $10 million in stock of First City Properties without paying for it, the SEC said. Under consent orders, the agency said, Reid agreed to pay $124,700 to an Indianapolis securities firm, from which he had purchased $2.5 million of the stock, and $35,000 to E. F. Hutton. Reid turned over to the SEC a lien on his $2.5-million yacht and his equity in a Texas ranch to guarantee the payments. In the future, Reid, Vito and B&M--a company owned by Rind and his wife--must present a copy of the court orders to any brokerage with which they do business or any bank to which they apply for a loan using securities as collateral. Three other defendants, including former Sherman Oaks stockbroker Maurice Rind, settled earlier.

Advertisement
Los Angeles Times Articles
|
|
|