March 3, 1987
The two defendants, who pleaded guilty last June to reaping $160,000 in illegal profits, were given fines of $25,000 each in federal court in White Plains, N.Y. Morton Shapiro, 25, a former stockbroker with Moseley, Hallgarten, Estabrook & Weeden, was sentenced to two months in jail and ordered to pay a $25,000 fine. Daniel Silverman, 24, was sentenced to three years probation, a $25,000 fine and ordered to provide 250 hours of community service.
August 2, 2012 |
Is college worth it? It is when you live in a culture that values higher education and overlooks high school grads in favor of job candidates who hold college degrees. Just look at this chart (via the Bureau of Labor Statistics ) that compares levels of education with income and the unemployment rate. "You should share this with any high school student you know," warned a posting on Upworthy this week. But is it fair that we place so much importance on a college degree? My brother, for example, majored in sociology before angling for a job in the entertainment industry, where most people either start in the mail room or as an assistant.
December 11, 1986 |
Michael N. David, the key figure in the so-called Yuppie Five insider trading case, has agreed to pay as much as $150,000 through an unusual 11-year payback plan to settle civil charges filed here Wednesday by the Securities and Exchange Commission.
November 27, 1986 |
The last of the so-called Yuppie Five accused of insider trading pleaded guilty Wednesday to four criminal charges, including one count each of conspiracy, securities fraud, mail fraud and obstruction of justice. Michael N. David, 28, a former associate with the New York law firm of Paul, Weiss, Rifkind, Wharton & Garrison, faces a maximum sentence of 20 years in prison and a $1-million fine. U.S. District Judge John F. Keenan scheduled sentencing for March 4.
May 29, 1986 |
In the third announcement this month of a major insider trading case, federal authorities said Wednesday that five men have been indicted on charges that they traded on confidential information stolen by one of them from the law firm where he worked. The key defendant is apparently Michael David, 27, a lawyer and a former associate at the prominent law firm of Paul, Weiss, Rifkind, Wharton & Garrison.
June 6, 1986 |
Investment banker Dennis B. Levine settled the largest insider trading case in history Thursday by agreeing to give up more than $11.5 million of his illicit profits and by pleading guilty in federal court here to tax evasion, perjury and securities fraud. The 33-year-old former managing director of the investment firm Drexel Burnham Lambert faces a maximum of 20 years in jail and fines of $610,000 on his felony convictions. He also owes more than $2 million in back taxes from 1983 and 1984.