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Herbert Stone

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BUSINESS
August 14, 1990 | PATRICE APODACA, TIMES STAFF WRITER
One of four defendants accused of stock fraud in a criminal indictment involving Magna Technologies, a defunct Thousand Oaks company, pleaded guilty in federal court in Los Angeles on Monday. Herbert Stone, a former securities broker who made a market in Magna's stock, pleaded guilty to one count of conspiracy, seven counts of securities fraud and four counts of wire fraud. Each of the 12 counts carries a maximum penalty of five years in prison. Sentencing is scheduled for Oct. 1.
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BUSINESS
June 25, 1991
Herbert Stone, a former New York stockbroker who pleaded guilty last August to 12 counts of conspiracy, and securities and wire fraud in connection with a defunct Thousand Oaks company, last week was sentenced by a federal judge in Los Angeles to 30 months in prison. Stone, 63, was one of four defendants accused of manipulating the stock of Magna Technologies Inc.--a publicly traded company with few assets, no income and substantial debts--and reaping more than $1 million in illicit profits.
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BUSINESS
June 25, 1991
Herbert Stone, a former New York stockbroker who pleaded guilty last August to 12 counts of conspiracy, and securities and wire fraud in connection with a defunct Thousand Oaks company, last week was sentenced by a federal judge in Los Angeles to 30 months in prison. Stone, 63, was one of four defendants accused of manipulating the stock of Magna Technologies Inc.--a publicly traded company with few assets, no income and substantial debts--and reaping more than $1 million in illicit profits.
BUSINESS
August 14, 1990 | PATRICE APODACA, TIMES STAFF WRITER
One of four defendants accused of stock fraud in a criminal indictment involving Magna Technologies, a defunct Thousand Oaks company, pleaded guilty in federal court in Los Angeles on Monday. Herbert Stone, a former securities broker who made a market in Magna's stock, pleaded guilty to one count of conspiracy, seven counts of securities fraud and four counts of wire fraud. Each of the 12 counts carries a maximum penalty of five years in prison. Sentencing is scheduled for Oct. 1.
BUSINESS
March 29, 1990 | PATRICE APODACA, TIMES STAFF WRITER
Four former promoters of a defunct Thousand Oaks company have been named in a 42-count criminal indictment unsealed by a grand jury in Los Angeles Tuesday. The charges, stemming from the rapid rise and collapse of the stock of Magna Technologies in 1985, include multiple counts of conspiracy and securities and wire fraud. The indictment says Magna was a "shell corporation" with no assets that was used by the defendants to profit by manipulating its stock.
BUSINESS
May 19, 1987
New York stockbroker Herbert Stone, accused in a civil suit by the Securities and Exchange Commission earlier this month of manipulating the stock price of Magna Technologies of Thousand Oaks, has been sentenced to five years in federal prison for his role in another stock-manipulation case. Stone was sentenced in U.S. District Court in New York last week for manipulating the stock of European Auto Classics of Great Neck, N.Y. He was convicted April 1.
BUSINESS
June 11, 1991
A Thousand Oaks plastic surgeon has been convicted of conspiracy and four counts of securities and wire fraud in connection with his role in the manipulation of the stock of Magna Technologies Inc., a defunct Thousand Oaks company, the U.S. attorney's office said. Robert Gutstein, 53, Magna's former chairman, was found guilty May 31 in federal court in Los Angeles of conspiring with three other defendants to use a variety of illegal means to drive up the price of Magna's stock.
BUSINESS
March 12, 1991
A key figure in a criminal indictment pleaded guilty last week in U.S. District Court in Los Angeles to four counts of securities and tax fraud for his role in the manipulation of the stock of Magna Technologies Inc., a defunct Thousand Oaks company.
NEWS
December 7, 1988 | Associated Press
Two Tuscarora Indians who were acquitted of federal charges stemming from the takeover of a Robeson County newspaper were indicted by a state grand jury Tuesday on 14 counts of second-degree kidnaping. Superior Court Judge Robert Hobgood issued arrest orders for Eddie Hatcher and Timothy Jacobs after the indictments were returned. He set bond for the two men at $140,000 each. Hatcher, 31, and Jacobs, 20, were acquitted by a federal jury Oct. 14 on hostage-taking and firearms violations.
BUSINESS
March 29, 1990 | PATRICE APODACA, TIMES STAFF WRITER
Four former promoters of a defunct Thousand Oaks company have been named in a 42-count criminal indictment unsealed by a grand jury in Los Angeles Tuesday. The charges, stemming from the rapid rise and collapse of the stock of Magna Technologies in 1985, include multiple counts of conspiracy and securities and wire fraud. The indictment says Magna was a "shell corporation" with no assets that was used by the defendants to profit by manipulating its stock.
CALIFORNIA | LOCAL
June 1, 1991 | GERRY BRAILO SPENCER
A Thousand Oaks plastic surgeon has been convicted of conspiracy and securities and wire fraud in connection with his role in the manipulation of the stock of Magna Technologies Inc., a defunct Thousand Oaks corporation, the U.S. attorney's office said. Robert Gutstein, 53, was found guilty after a four-week trial in federal court of conspiring with other defendants to manipulate the market price of Magna, said John F. Walsh, an assistant U.S. attorney.
CALIFORNIA | LOCAL
June 21, 1991 | JANE HULSE
A New York stockbroker has been sentenced to 30 months in prison for manipulating stock at Magna Technologies, a now-defunct Thousand Oaks company. Herbert Stone, 63, who pleaded guilty to 12 counts of conspiracy and securities and wire fraud, was sentenced in Los Angeles this week by U.S. District Judge Terry J. Hatter Jr. Magna Technologies was a shell corporation with few assets, no business income and substantial debts, said Assistant U.S. Atty. John F. Walsh.
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