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March 23, 1994|From Times Staff and Wire Reports

Spectrum-Linked Firm Raided; Five Arrested: Postal inspectors in New York raided an investment company founded by the president of Spectrum Information Technologies Inc., and five men were arrested on wire and mail fraud charges. The federal complaint, filed in Brooklyn, says Paradigm Investments ran a "boiler room operation," calling small and medium-sized businesses and offering to find them financing for a fee. It says Paradigm defrauded dozens of companies of as much as $30,000 each, beginning in 1989. John Bohrman, 27, son-in-law of Spectrum President Peter Caserta, was among those arrested, and the complaint notes that Caserta recently sold Paradigm to Bohrman. Spectrum, which was not the target of the probe, said it is cooperating with authorities. Spectrum's stock fell 50 cents to close at $2.56 a share on Nasdaq.

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