July 20, 1990 |
A commodities brokerage headed by Chicago Board of Trade Chairman Karsten Mahlmann may have found its financial savior, the firm's parent company indicated Thursday. Stotler Group Inc., one of the nation's 10 biggest commodities brokerages, said it had accepted an unidentified investor's "conditional offer to purchase a substantial equity interest" in it. Mahlmann is managing partner of Stotler Group's principal subsidiary, Stotler & Co.
August 2, 1990 |
The chairman of the Chicago Board of Trade resigned Wednesday only a day after federal regulators charged the brokerage firm he headed with defrauding investors and only hours after he said he wouldn't quit. Karsten Mahlmann, whose nickname is "Cash," told directors of the board that he was stepping down "in the overwhelming interest of the Board of Trade and because of my deep love and respect for the institution," according to a statement released late Wednesday by the futures exchange.
August 8, 1990 |
Former Chicago Board of Trade Chairman Karsten Mahlmann, who stepped down amid charges his trading firm misused customers' funds, will get $120,000 in severance pay, exchange officials said today. Mahlmann, who headed Stotler Group Inc., resigned from his company and the Board of Trade last week after federal officials charged the company with using customer funds to shore up its own finances.
September 6, 1990 |
After only a month as chairman of the Chicago Board of Trade, William F. O'Connor is not sure whether he wants to remain at the helm of the world's largest futures exchange. O'Connor, 55, said he hasn't decided whether he wants to serve beyond January, when his term expires. O'Connor was appointed chairman July 31 when Karsten (Cash) Mahlmann resigned amid financial woes at Stotler Group Inc., a futures brokerage firm of which he was also chairman.