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BUSINESS
December 31, 1997 | Bloomberg News
Donald Kessler, a former stock promoter and chief executive of a New York asbestos-removal company, pleaded guilty to insider trading, income tax evasion and stock fraud. Kessler, 54, pleaded guilty in federal court in Brooklyn to misusing inside information about Spectrum Information Technologies Inc. and manipulating shares of Comprehensive Environmental Systems Inc., U.S. Atty. Zachary Carter said.
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BUSINESS
July 8, 1994 | From Times Staff and Wire Reports
Spectrum, Caserta Part Company: Spectrum Information Technologies Inc. said it has ended its contract with Peter Caserta, the company's president who had been on leave since five associates were arrested last spring. The company also named four new directors, completing a restructuring of its board. Spectrum, holder of patents for wireless data transmission, gained attention for hiring former Apple Computer chief John Sculley as its CEO and chairman last fall.
BUSINESS
January 17, 1996 | Times Staff and Wire Reports
Former CEO at Spectrum Pleads Guilty: Peter Caserta, the former chief executive of Spectrum Information Technologies Inc. of Purchase, N.Y., pleaded guilty to mail fraud and conspiracy and agreed to pay $1 million in fines and restitution. A federal grand jury in March accused Caserta and nine associates of bilking more than 300 companies in 23 states out of more than $6 million with an advance-fee loan scheme that ran from 1988 to February 1994. Four co-defendants have pleaded guilty.
BUSINESS
January 17, 1996 | Times Staff and Wire Reports
Former CEO at Spectrum Pleads Guilty: Peter Caserta, the former chief executive of Spectrum Information Technologies Inc. of Purchase, N.Y., pleaded guilty to mail fraud and conspiracy and agreed to pay $1 million in fines and restitution. A federal grand jury in March accused Caserta and nine associates of bilking more than 300 companies in 23 states out of more than $6 million with an advance-fee loan scheme that ran from 1988 to February 1994. Four co-defendants have pleaded guilty.
BUSINESS
March 24, 1995 | Times Staff and Wire Reports
Former Spectrum Chief Caserta Indicted: A federal prosecutor in New York charged Peter Caserta, former president of Manhasset, N.Y.-based Spectrum Information Technologies Inc., with defrauding several hundred companies of more than $6 million. Nine former employees of the Caserta Group, a privately held investment firm, were also named in the 102-count mail and wire fraud indictment.
BUSINESS
February 10, 1994 | JONATHAN WEBER, TIMES STAFF WRITER
In a blistering counterattack against John Sculley, Spectrum Information Technologies said it filed a $300-million lawsuit Wednesday against its former chairman, charging that Sculley's resignation two days earlier was the culmination of an elaborate conspiracy. A spokesman for Sculley called the Spectrum lawsuit "a complete work of fiction."
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