July 10, 1993
Irving Ornest, 66, a private investment counselor for more than 30 years. A native of Edmonton, Canada, Ornest moved to Los Angeles in 1946 and began his business career as a banker. He later became a full-time adviser, managing a multimillion-dollar portfolio for about 20 wealthy clients. Although he was a political liberal active in local Democratic circles, Ornest followed a conservative investment philosophy, buying mainly blue-chip securities he selected through painstaking research.
June 30, 1992 |
A federal judge has granted a request to freeze the accounts of a Lake Forest investment counselor who is alleged to have set up a scam that targeted elderly prospects through a nursing home newsletter. U.S. District Judge Robert M. Takasugi granted a request by the U.S. Securities and Exchange Commission late last week prohibiting destruction of documents and transfer of assets belonging to Randall C. Hutchens or his company, Laguna Equities Inc.
December 23, 1987 |
A former lawyer for Atty. Gen. Edwin Meese III and Meese's former investment adviser were indicted Tuesday by a federal grand jury here on charges of racketeering, mail and wire fraud and conspiring to defraud the United States in actions related to their work for Wedtech Corp. The indictment--returned by a grand jury under the direction of U.S. Atty. Rudolph W. Giuliani--says that E. Robert Wallach, Meese's former attorney, had sought to influence Meese on behalf of now-defunct Wedtech.
CALIFORNIA | LOCAL
June 17, 1987
A Laguna Beach investment adviser pleaded guilty Tuesday to a federal wire fraud charge in connection with the misappropriation of $40,000 from a defunct cable television company. Jeffry Scott Vale, 46, was a business consultant for High Desert Broadcasting Corp., which formerly served Victorville, Lancaster and other desert areas of Southern California.
CALIFORNIA | LOCAL
May 26, 1985 |
An Anaheim tax and investment counselor who is the target of a federal investigation induced customers to invest in land and gold mines he did not actually own, as well as in a country-and-western record album, a movie entitled "Crypt of Dark Secrets" and fields of Jerusalem artichokes that ended up being eaten by wild antelope, federal investigators say. U.S.