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BUSINESS
May 3, 1997 | From Bloomberg News
Two licensed stockbrokers and a man allegedly associated with the Colombo crime family were charged with stock fraud and other crimes involving a Los Angeles-based company, federal prosecutors in New York said Friday. The criminal indictment is the first to directly link organized crime to fraud on Wall Street, said the U.S. attorney's office in Brooklyn, which is prosecuting the case. The Colombo family is one of five alleged organized crime families in New York. Louis Malpeso Jr.
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CALIFORNIA | LOCAL
October 21, 1998 | JOSE CARDENAS, TIMES STAFF WRITER
A man was sentenced to a year in federal prison and ordered to pay nearly $1 million in restitution for conspiring to manipulate the stock price of a company that provided medical testing services in shopping malls, authorities said Tuesday. David Paletz, 54, formerly of Woodland Hills, was sentenced by U.S. District Judge George H. King on Monday. Others already sentenced are the father and son who served as chairman and president of the E.N. Phillips company, said Nora M. Manella, U.S.
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BUSINESS
March 30, 1995 | SCOT J. PALTROW, TIMES STAFF WRITER
The New York Stock Exchange announced disciplinary action Wednesday against a Los Angeles stock broker who allegedly defrauded an elderly, semiliterate woman of much of her life savings. Under a settlement in which the broker, David C. Stewart, 31, neither admitted nor denied guilt, the NYSE imposed a censure and a four-month suspension from the industry.
CALIFORNIA | LOCAL
September 25, 1997 | MACK REED, TIMES STAFF WRITER
Undercover federal agents Wednesday arrested a Sherman Oaks man who they said plotted to blow up the Ventura County Courthouse to wipe out his upcoming trial on charges of securities fraud. Frank Boyd Cockrell II "wanted to have maximum damage at the courthouse to obliterate all the evidence in his case" before his Nov. 3 trial, said John Torres, assistant special agent for the federal Bureau of Alcohol, Tobacco and Firearms. "He wanted to inflict as much damage as possible," Torres said.
CALIFORNIA | LOCAL
September 13, 1997
A Lancaster man who masterminded a Ponzi scheme that bilked millions of dollars from Los Angeles schoolteachers was sentenced Friday to 10 years in state prison and ordered to pay $1.2 million in restitution. David Missman, 60, was convicted in July on 48 counts of grand theft, sale of unregistered securities and making a false misrepresentation in the sale of a security. His wife, Karen Missman, 47, who the defense argued played a lesser role in the scheme, was convicted on six counts.
CALIFORNIA | LOCAL
November 13, 1992 | MICHELLE QUINN
A Simi Valley man has pleaded guilty to defrauding 31 people, including his parents, of $800,000 while he was employed as a stockbroker in Northridge. Michael Daniel McFadden, 41, entered a guilty plea in U. S. District Court in Los Angeles to three counts of securities fraud and one count of mail fraud. McFadden, who is free on recognizance until his sentencing in January, faces a maximum penalty of 20 years imprisonment and fines of up to $1 million.
CALIFORNIA | LOCAL
July 9, 1997 | JOSE CARDENAS, TIMES STAFF WRITER
A Lancaster couple was convicted Tuesday of bilking about 800 people--most of them Los Angeles schoolteachers--out of $18 million in a classic Ponzi scheme, according to authorities. David Missman, 60, and Karen Missman, 47, used their connections in United Teachers-Los Angeles, the union representing city school teachers, to lure victims, said Richard A. Lowenstein, the deputy district attorney who prosecuted the case.
CALIFORNIA | LOCAL
April 20, 1995 | JEANNETTE DeSANTIS, TIMES STAFF WRITER
The owner of an oil and gas investment firm who allegedly bilked $9 million out of investors was indicted Wednesday on charges of securities fraud, mail fraud and money laundering, according to the U.S. attorney's office. A federal grand jury returned a 29-count indictment against Joseph T. Sevitski, 49, of Malibu. If convicted, Sevitski faces up to 485 years in prison and a $14-million fine, said Assistant U.S. Atty. Barbara M. Scheper, who is prosecuting the case.
CALIFORNIA | LOCAL
August 5, 1992 | JIM HERRON ZAMORA, TIMES STAFF WRITER
A former Lancaster stockbroker was indicted Tuesday on 14 counts of mail fraud for bilking investors of $1 million in a securities fraud scheme, federal officials said. Ronnie Raymond Lapora, 40, who now lives in Washington state, was charged with selling investments in a fictitious mutual fund to more than 80 investors between 1987 and 1989, Assistant U.S. Atty. Paula A. Mabrey said. Many of the investors were from the Antelope Valley, where Lapora was based, she said.
CALIFORNIA | LOCAL
September 25, 1997 | MACK REED, TIMES STAFF WRITER
Undercover federal agents Wednesday arrested a Sherman Oaks man who they said plotted to blow up the Ventura County Courthouse to wipe out his upcoming trial on charges of securities fraud. Frank Boyd Cockrell II "wanted to have maximum damage at the courthouse to obliterate all the evidence in his case" before his Nov. 3 trial, said John Torres, assistant special agent for the federal Bureau of Alcohol, Tobacco and Firearms. "He wanted to inflict as much damage as possible," Torres said.
CALIFORNIA | LOCAL
September 13, 1997
A Lancaster man who masterminded a Ponzi scheme that bilked millions of dollars from Los Angeles schoolteachers was sentenced Friday to 10 years in state prison and ordered to pay $1.2 million in restitution. David Missman, 60, was convicted in July on 48 counts of grand theft, sale of unregistered securities and making a false misrepresentation in the sale of a security. His wife, Karen Missman, 47, who the defense argued played a lesser role in the scheme, was convicted on six counts.
CALIFORNIA | LOCAL
July 9, 1997 | JOSE CARDENAS, TIMES STAFF WRITER
A Lancaster couple was convicted Tuesday of bilking about 800 people--most of them Los Angeles schoolteachers--out of $18 million in a classic Ponzi scheme, according to authorities. David Missman, 60, and Karen Missman, 47, used their connections in United Teachers-Los Angeles, the union representing city school teachers, to lure victims, said Richard A. Lowenstein, the deputy district attorney who prosecuted the case.
BUSINESS
May 3, 1997 | From Bloomberg News
Two licensed stockbrokers and a man allegedly associated with the Colombo crime family were charged with stock fraud and other crimes involving a Los Angeles-based company, federal prosecutors in New York said Friday. The criminal indictment is the first to directly link organized crime to fraud on Wall Street, said the U.S. attorney's office in Brooklyn, which is prosecuting the case. The Colombo family is one of five alleged organized crime families in New York. Louis Malpeso Jr.
BUSINESS
August 15, 1995
Insurance Auto Auctions Inc., a North Hollywood company that sells salvaged vehicles, said it has been named in a shareholder lawsuit filed against the company in the U.S. District Court for the Central District of California. The suit alleges violations of federal securities laws and seeks damages on behalf of shareholders who purchased the company's common stock between July 27, 1994, and July 31, 1995, the company said.
BUSINESS
April 27, 1995 | JAMES F. PELTZ, TIMES STAFF WRITER
A lawyer for the former Lockheed Corp. has settled insider-trading charges that he allegedly profited from advance knowledge of Lockheed's recent $10-billion merger with Martin Marietta Corp., federal regulators said Wednesday. The civil complaint against Stephen H. Wagner, 60, was filed in federal court in Los Angeles by the Securities and Exchange Commission. Wagner lives in the San Fernando Valley and still works for the merged Lockheed Martin Corp.
CALIFORNIA | LOCAL
April 20, 1995 | JEANNETTE DeSANTIS, TIMES STAFF WRITER
The owner of an oil and gas investment firm who allegedly bilked $9 million out of investors was indicted Wednesday on charges of securities fraud, mail fraud and money laundering, according to the U.S. attorney's office. A federal grand jury returned a 29-count indictment against Joseph T. Sevitski, 49, of Malibu. If convicted, Sevitski faces up to 485 years in prison and a $14-million fine, said Assistant U.S. Atty. Barbara M. Scheper, who is prosecuting the case.
BUSINESS
November 7, 1992 | DAVID W. MYERS, TIMES STAFF WRITER
A Santa Barbara man pleaded guilty Friday of masterminding a bogus municipal bond scam that bilked hundreds of California investors out of $39 million. John Anthony Genetti, 45, admitted on the fourth day of his trial in a Los Angeles federal court that he and three associates used the now-defunct FSG Financial Services Inc. of Beverly Hills and two other front companies to market the worthless bonds.
BUSINESS
August 15, 1995
Insurance Auto Auctions Inc., a North Hollywood company that sells salvaged vehicles, said it has been named in a shareholder lawsuit filed against the company in the U.S. District Court for the Central District of California. The suit alleges violations of federal securities laws and seeks damages on behalf of shareholders who purchased the company's common stock between July 27, 1994, and July 31, 1995, the company said.
BUSINESS
March 30, 1995 | SCOT J. PALTROW, TIMES STAFF WRITER
The New York Stock Exchange announced disciplinary action Wednesday against a Los Angeles stock broker who allegedly defrauded an elderly, semiliterate woman of much of her life savings. Under a settlement in which the broker, David C. Stewart, 31, neither admitted nor denied guilt, the NYSE imposed a censure and a four-month suspension from the industry.
CALIFORNIA | LOCAL
November 13, 1992 | MICHELLE QUINN
A Simi Valley man has pleaded guilty to defrauding 31 people, including his parents, of $800,000 while he was employed as a stockbroker in Northridge. Michael Daniel McFadden, 41, entered a guilty plea in U. S. District Court in Los Angeles to three counts of securities fraud and one count of mail fraud. McFadden, who is free on recognizance until his sentencing in January, faces a maximum penalty of 20 years imprisonment and fines of up to $1 million.
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