Advertisement
 
YOU ARE HERE: LAT HomeCollectionsMagna Technologies Company
IN THE NEWS

Magna Technologies Company

FEATURED ARTICLES
BUSINESS
September 17, 1991 | PATRICE APODACA, TIMES STAFF WRITER
A 30-month sentence given to Robert Victor, a former executive of Magna Technologies Inc., brings to two the number of principals in the defunct Thousand Oaks company who have received prison terms for their roles in a stock manipulation case. Victor, 53, of Las Vegas, pleaded guilty in March to four counts of securities and tax fraud in connection with the rise and fall of Magna Technologies stock in 1985. In pronouncing sentence in Los Angeles last week, U.S. District Court Judge Terry J.
ARTICLES BY DATE
BUSINESS
December 15, 1998 | From Bloomberg News
Magna International Inc., Canada's largest auto-parts maker, completed its purchase of Santa Anita Race Track from Meditrust Cos. for $126 million, adding to its real estate holdings. Magna bought the thoroughbred horse-racing track, racing operations and adjoining land in Arcadia through its MI Developments real estate and entertainment unit. While Magna last month said it would spin off MI Developments, it hasn't set a date.
Advertisement
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
September 17, 1991 | PATRICE APODACA, TIMES STAFF WRITER
A 30-month sentence given to Robert Victor, a former executive of Magna Technologies Inc., brings to two the number of principals in the defunct Thousand Oaks company who have received prison terms for their roles in a stock manipulation case. Victor, 53, of Las Vegas, pleaded guilty in March to four counts of securities and tax fraud in connection with the rise and fall of Magna Technologies stock in 1985. In pronouncing sentence in Los Angeles last week, U.S. District Court Judge Terry J.
BUSINESS
August 30, 1989 | JOHN MEDEARIS, Times Staff Writer
The Securities and Exchange Commission has won an injunction against the last defendant in a stock-manipulation case involving Magna Technologies, a defunct Thousand Oaks company that said it was going to market an assortment of futuristic-sounding products--from pumps without blades to beverage pouches. But the SEC said in court papers filed last week that the company was nothing more than "a desk, a phone and a chair." U.S. District Judge Mariana R.
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
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
December 15, 1998 | From Bloomberg News
Magna International Inc., Canada's largest auto-parts maker, completed its purchase of Santa Anita Race Track from Meditrust Cos. for $126 million, adding to its real estate holdings. Magna bought the thoroughbred horse-racing track, racing operations and adjoining land in Arcadia through its MI Developments real estate and entertainment unit. While Magna last month said it would spin off MI Developments, it hasn't set a date.
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
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 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
August 30, 1989 | JOHN MEDEARIS, Times Staff Writer
The Securities and Exchange Commission has won an injunction against the last defendant in a stock-manipulation case involving Magna Technologies, a defunct Thousand Oaks company that said it was going to market an assortment of futuristic-sounding products--from pumps without blades to beverage pouches. But the SEC said in court papers filed last week that the company was nothing more than "a desk, a phone and a chair." U.S. District Judge Mariana R.
Los Angeles Times Articles
|