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Robert Chestman

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BUSINESS
May 10, 1989
Broker Sentenced: Former Gruntal & Co. broker Robert Chestman of Long Island, N.Y., was sentenced to two years in prison for trading on inside information about the 1986 takeover of supermarket chain Waldbaum Inc. by the Great Atlantic & Pacific Tea Co. He was also ordered to repay about $250,000 in illegal profit. Chestman had been found guilty in March of 31 counts of securities and mail fraud and perjury. Chestman's lawyer said his client would appeal.
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BUSINESS
May 4, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
A federal appeals court decision this week may force Congress to deal with an issue that it ducked two years ago: coming up with a definition of illegal insider trading. The U.S. 2nd Circuit Court of Appeals in New York on Wednesday overturned the criminal conviction of a former stockbroker, Robert Chestman. It was a decision that some legal experts said could sharply undercut the recent government crackdown on insider trading.
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BUSINESS
March 15, 1989 | From Reuters
A federal jury convicted a Gruntal & Co. broker Tuesday of trading on inside information about the 1986 takeover of Waldbaum Inc. by Great Atlantic & Pacific Tea Co. Robert Chestman was found guilty of 31 counts of securities and mail fraud as well as perjury. After his indictment Chestman was placed on leave of absence by Gruntal and the firm said at the time he was an account executive with no corporate title.
BUSINESS
May 3, 1990 | From Associated Press
In a key ruling on insider trading, an appeals court Wednesday overturned the conviction of a stockbroker who bought Waldbaum supermarket stock after learning about the company's imminent sale from a Waldbaum family member. The U.S. 2nd Circuit Court of Appeals said it could find no evidence that former Gruntal & Co. broker Robert Chestman knew the information about the 1986 sale of the supermarket chain was confidential.
BUSINESS
May 3, 1990 | From Associated Press
In a key ruling on insider trading, an appeals court Wednesday overturned the conviction of a stockbroker who bought Waldbaum supermarket stock after learning about the company's imminent sale from a Waldbaum family member. The U.S. 2nd Circuit Court of Appeals said it could find no evidence that former Gruntal & Co. broker Robert Chestman knew the information about the 1986 sale of the supermarket chain was confidential.
BUSINESS
May 4, 1990 | SCOT J. PALTROW, TIMES STAFF WRITER
A federal appeals court decision this week may force Congress to deal with an issue that it ducked two years ago: coming up with a definition of illegal insider trading. The U.S. 2nd Circuit Court of Appeals in New York on Wednesday overturned the criminal conviction of a former stockbroker, Robert Chestman. It was a decision that some legal experts said could sharply undercut the recent government crackdown on insider trading.
BUSINESS
October 8, 1991 | From Times Staff and Wire Reports
Policing Powers Over Inside Trading Upheld: In a ruling expected to preserve the government's ability to police insider trading, an appeals court reinstated part of a stockbroker's conviction for trading on inside information about a 1986 takeover. The 2nd U.S. Circuit Court of Appeals ruled 10-1 that a smaller panel of the same court had wrongly thrown out Robert Chestman's conviction on 10 counts of fraudulent trading in connection with a stock tender offer.
BUSINESS
November 19, 1991 | VICTOR F. ZONANA, TIMES STAFF WRITER
A psychiatrist who admitted that he played the stock market based on confidential information he learned from a patient is not necessarily guilty of insider trading, a U.S. District Court judge said in a ruling released Monday. The decision, by U.S. District Judge Miriam G. Cederbaum, was based on last month's landmark appellate court decision--United States vs. Chestman--that limits the ability of prosecutors to go after certain investors who trade on confidential information.
BUSINESS
July 21, 1988 | SCOT J. PALTROW, Times Staff Writer
A retail broker at Gruntal & Co., a New York stock brokerage, was indicted on 31 counts of insider trading, perjury and mail fraud for allegedly using inside information to buy stock in a supermarket chain before it was acquired in 1986 by Great Atlantic & Pacific Tea Co. A federal grand jury in Manhattan on Wednesday accused Robert Chestman, 41, a senior vice president at Gruntal, of buying stock in Waldbaum Inc., a New York regional supermarket chain, in November, 1986.
BUSINESS
January 11, 1989 | PAUL RICHTER and SCOT J. PALTROW, Times Staff Writers
U.S. Atty. Rudolph W. Giuliani began his five-year term denying accusations that he was neglecting white-collar crime. He ended it as the nation's most celebrated crusader against illegal insider trading and other forms of Wall Street corruption. In his battle against Wall Street lawbreaking, as in his other battles, he was simultaneously praised for his effectiveness and damned as a zealot who trampled the rights of the accused.
BUSINESS
May 10, 1989
Broker Sentenced: Former Gruntal & Co. broker Robert Chestman of Long Island, N.Y., was sentenced to two years in prison for trading on inside information about the 1986 takeover of supermarket chain Waldbaum Inc. by the Great Atlantic & Pacific Tea Co. He was also ordered to repay about $250,000 in illegal profit. Chestman had been found guilty in March of 31 counts of securities and mail fraud and perjury. Chestman's lawyer said his client would appeal.
BUSINESS
March 15, 1989 | From Reuters
A federal jury convicted a Gruntal & Co. broker Tuesday of trading on inside information about the 1986 takeover of Waldbaum Inc. by Great Atlantic & Pacific Tea Co. Robert Chestman was found guilty of 31 counts of securities and mail fraud as well as perjury. After his indictment Chestman was placed on leave of absence by Gruntal and the firm said at the time he was an account executive with no corporate title.
BUSINESS
January 21, 1989 | SCOT J. PALTROW, Times Staff Writer
The likely nominee to succeed Rudolph W. Giuliani as the top federal prosecutor in New York is a respected defense lawyer who colleagues say probably will be less likely than his predecessor to use the racketeering laws against Wall Street securities law violators. Otto G. Obermaier, 52, a top New York defense lawyer specializing in white-collar crime who formerly served as both an assistant federal prosecutor and a Securities and Exchange Commission attorney, was picked by Sen.
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