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Robert Salsbury

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BUSINESS
November 3, 1988 | PAUL RICHTER, Times Staff Writer
Crime doesn't pay, but cooperating with the authorities can pay off. That seems to be a lesson in the case of the "Yuppie Five," the young Wall Street professionals nabbed two years ago as an insider trading ring. Two of the former defendants are now selling cars, a third has been driving a cab and another is trying to make his way as a financial consultant. But the ring member who secretly taped his confederates to gather evidence for authorities has been cleared to practice law in two states.
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BUSINESS
November 3, 1988 | PAUL RICHTER, Times Staff Writer
Crime doesn't pay, but cooperating with the authorities can pay off. That seems to be a lesson in the case of the "Yuppie Five," the young Wall Street professionals nabbed two years ago as an insider trading ring. Two of the former defendants are now selling cars, a third has been driving a cab and another is trying to make his way as a financial consultant. But the ring member who secretly taped his confederates to gather evidence for authorities has been cleared to practice law in two states.
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BUSINESS
December 11, 1986 | DEBRA WHITEFIELD, Times Staff Writer
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.
BUSINESS
November 27, 1986 | TONY ROBINSON, Times Staff Writer
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.
BUSINESS
December 3, 1986 | MICHAEL A. HILTZIK, Times Staff Writer
The top executives of Drexel Burnham Lambert maintained Tuesday that the Ivan F. Boesky affair has had no direct impact on the investment firm's business or on takeover deals in which it is participating. But they did say the insider trading scandal has helped put an end to the firm's 7-month-old plan to move into an entire new building off Wall Street and to take a nearly 50% ownership of the building.
BUSINESS
May 29, 1986 | MICHAEL A. HILTZIK, Times Staff Writer
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.
BUSINESS
June 6, 1986 | MICHAEL A. HILTZIK, Times Staff Writer
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.
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