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BUSINESS
February 17, 1995 | Times Staff and Wire Reports
Defendants Plead Innocent to Insider Trading: Five defendants pleaded innocent to charges that they made more than $2 million from illicitly obtained stock tips about AT&T Corp.'s takeover plans. The defendants, among 17 people named in the sweeping case unveiled by federal authorities last week, were released on bond after their arraignment in U.S. District Court in New York before U.S. Magistrate Nina Gershon. The scheme described by the U.S.
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BUSINESS
January 19, 2000 | From Bloomberg News
The Manhattan Investment Fund, a hedge fund controlled by Michael W. Berger, was charged by regulators with inflating its assets and returns while losing $300 million by betting against Internet-related stocks. The Securities and Exchange Commission, in a civil fraud lawsuit filed in a Manhattan federal court, accused Berger and the New York fund of trying to hide losses by sending false account statements to investors.
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BUSINESS
November 11, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
Battered by criticism of its handling of a $1.1-billion scandal at Daiwa Bank's New York branch, Japan's Finance Ministry declared Friday that it will move away from its traditional cozy relationship with the nation's banks. The ministry now wants to apply a more strict investigative and regulatory approach to its oversight, especially of the international activities of Japanese banks, spokesman Yukio Yoshimura told a news conference.
NEWS
June 11, 1999 | From Times Wire Reports
A businessman was convicted in New York City of cheating 22,000 investors out of $700 million in what prosecutors called the biggest pyramid scheme in U.S. history. Patrick Bennett and his wife sobbed after a federal jury found him guilty of 42 counts, including securities fraud and laundering more than $1 billion. The jury did not reach a verdict on 11 counts, including the most serious charge of conspiracy. Bennett, 46, was held without bail and faces at least 20 years in prison.
NEWS
June 11, 1999 | From Times Wire Reports
A businessman was convicted in New York City of cheating 22,000 investors out of $700 million in what prosecutors called the biggest pyramid scheme in U.S. history. Patrick Bennett and his wife sobbed after a federal jury found him guilty of 42 counts, including securities fraud and laundering more than $1 billion. The jury did not reach a verdict on 11 counts, including the most serious charge of conspiracy. Bennett, 46, was held without bail and faces at least 20 years in prison.
BUSINESS
January 19, 2000 | From Bloomberg News
The Manhattan Investment Fund, a hedge fund controlled by Michael W. Berger, was charged by regulators with inflating its assets and returns while losing $300 million by betting against Internet-related stocks. The Securities and Exchange Commission, in a civil fraud lawsuit filed in a Manhattan federal court, accused Berger and the New York fund of trying to hide losses by sending false account statements to investors.
BUSINESS
June 8, 1996 | Times Staff and Wire Reports
Milken to Get $50 Million if Time Warner Deal Succeeds: Turner Broadcasting System Inc. Chairman Ted Turner said the Atlanta company will pay former junk bond banker Michael Milken a $50-million fee if Time Warner Inc. successfully acquires the company. Turner also told shareholders at the company's annual meeting that he expects the company to generate $4 billion in revenue this year. That is up from $3.44 billion last year. Turner said he would personally pay $10 million of the fee to Milken.
NEWS
July 22, 1990 | From Times staff and Wire reports
A man who bought 15 Texas savings and loans using only $1,000 of his own money and $70 million in loans also bought an Oklahoma bank at a good price despite failing to disclose he'd been indicted for securities fraud, the New York Times said in its Sunday editions. James M. Fail was able to buy the United Oklahoma Bank, later renamed the Oklahoma Bank, without filling out a required form, the paper said.
BUSINESS
October 5, 2003 | From Times Staff
Encouraging Data Help Lift Major Stock Indexes Upbeat economic news gave stocks a lift last week, helping major indexes notch their biggest weekly gains since spring. A midweek report that manufacturing grew in September for the third straight month sparked the broadest market rally in 2 1/2 years. And Friday's report that the economy added jobs last month for the first time since January sparked another rally in stocks. Although the U.S.
BUSINESS
November 11, 1995 | DAVID HOLLEY, TIMES STAFF WRITER
Battered by criticism of its handling of a $1.1-billion scandal at Daiwa Bank's New York branch, Japan's Finance Ministry declared Friday that it will move away from its traditional cozy relationship with the nation's banks. The ministry now wants to apply a more strict investigative and regulatory approach to its oversight, especially of the international activities of Japanese banks, spokesman Yukio Yoshimura told a news conference.
BUSINESS
February 17, 1995 | Times Staff and Wire Reports
Defendants Plead Innocent to Insider Trading: Five defendants pleaded innocent to charges that they made more than $2 million from illicitly obtained stock tips about AT&T Corp.'s takeover plans. The defendants, among 17 people named in the sweeping case unveiled by federal authorities last week, were released on bond after their arraignment in U.S. District Court in New York before U.S. Magistrate Nina Gershon. The scheme described by the U.S.
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