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Senate Ethics Panel Clears D'Amato

September 21, 1996|From Times Staff and Wire Reports

The Senate Ethics Committee has cleared Sen. Alfonse M. D'Amato (R-N.Y.) of wrongdoing for any special treatment he may have received from a brokerage firm that earned him a quick and hefty profit on a stock trade. In a letter made public by D'Amato, the committee said it "concluded that no improper conduct and no violation of law or Senate rule occurred." Victor Baird, the chief counsel of the panel, said no further action would be taken. The complaint was lodged in June by a watchdog group. D'Amato made a $31,125 profit on a one-day trade in 1993 from an initial public offering.

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