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Securities Fraud

CALIFORNIA | LOCAL
September 14, 1993 | JEFF McDONALD
A former Oxnard couple has been indicted on more than 65 counts of fraud and selling illegal securities for allegedly swindling dozens of investors in their defunct Oxnard manufacturing company. Thomas and Patricia Boyd, who now live in Fresno County, are accused of selling dozens of investors shares of products made by States Plastics of Oxnard through the 1980s.
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BUSINESS
May 13, 2009 | Marc Lifsher and David Zahniser
A San Marino businessman with long-standing connections to Los Angeles City Hall has pleaded guilty to criminal securities fraud as part of a probe of alleged pay-to-play corruption at a New York state government pension fund, prosecutors said Tuesday. Julio Ramirez Jr., a former employee of Wetherly Capital Group, a Los Angeles investment marketing firm, allegedly gave kickbacks to a top political advisor of former New York Controller Alan Hevesi.
BUSINESS
May 5, 2004 | From Bloomberg News
San Diego's Milberg Weiss Bershad Hynes & Lerach, which split into two law firms this week, settled securities fraud cases worth $2.1 billion in 2003, the most among firms that represent investors, according to a list released Tuesday by Institutional Shareholder Services. Milberg Weiss surpassed New York's Bernstein Litowitz Berger & Grossman, which had $950 million in settlements in 2003, and Grant & Eisenhofer in Wilmington, Del., which had $611 million.
CALIFORNIA | LOCAL
February 25, 1992 | MACK REED
One of three Ventura County brothers accused of involvement in a $2.3-million swindle through the defunct Fountain Oil & Gas Co. has been sentenced to a year in County Jail. Ventura County Superior Court Judge Frederick A. Jones imposed the sentence Friday on Kenneth R. Fuentes, 36, of Thousand Oaks, who pleaded guilty in December to seven charges of securities fraud. The sentence also includes six years probation. Fountain President Charles E.
BUSINESS
November 4, 2003 | From Bloomberg News
Vivendi Universal, the world's fifth-largest media company, must defend a lawsuit accusing the company and former Chief Executive Jean-Marie Messier of defrauding investors, a judge ruled. U.S. District Judge Harold Baer in Manhattan said in a 40-page opinion that investors had made enough allegations to sustain their securities fraud suit.
CALIFORNIA | LOCAL
December 16, 1995
A psychotherapist in Santa Monica faces a possible prison sentence and stiff fine for listening to more than his client's problems while he was in his office. Mervyn Cooper, 57, a licensed psychotherapist, pleaded guilty Wednesday to securities fraud for using insider information he gleaned from a patient to make a $7,000 investment in Lockheed Aircraft Co. The patient, a high-ranking Lockheed executive, told Cooper that a significant event would occur soon at the company.
CALIFORNIA | LOCAL
July 31, 2004 | From a Times Staff Writer
A 55-year-old Thousand Oaks pharmacist has been charged with bilking more than $400,000 from elderly customers who participated in an investment scheme, authorities said Friday. John Peter Hajducko was charged Thursday with 43 felony counts of elder abuse, grand theft and securities fraud involving 13 victims, authorities said. Hajducko had been employed as a pharmacist at Sav-On drugstore on Telegraph Road, where he had won the trust of several elderly customers, prosecutors said.
BUSINESS
August 17, 2001
The founder of a Carlsbad-based mortgage-lending firm was indicted on federal charges in an alleged $330-million securities fraud case. Michael J. Fanghella, the chairman and chief executive of PinnFund USA, was charged in a 20-count indictment with illegally transferring firm money overseas and deceiving the Department of Housing and Urban Development. Fanghella, 50, of Rancho Santa Fe, is accused of operating a Ponzi-type scheme that used new investments to pay off old investors.
BUSINESS
August 23, 2001 | Jeff Leeds
Harry Shuster, a Beverly Hills entrepreneur whose offbeat ventures included animal safaris and cigar clubs, has been convicted of securities fraud and other charges, federal prosecutors said. Shuster, 66, faces up to 75 years in prison when he is sentenced Nov. 16, the U.S. attorney's office in New York said.
CALIFORNIA | LOCAL
December 20, 1995 | BILL BILLITER
A proposed federal law governing fraud in securities investments is being opposed by the City Council, which agrees with the League of California Cities that the law would not do enough to protect victims of securities fraud. At a meeting last week, the council voted unanimously to oppose the Securities Litigation Reform Act. Council members acted after being urged by the League of California Cities to join in efforts to derail the legislation.
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