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BUSINESS
December 14, 1993 | DON LEE, TIMES STAFF WRITER
After a six-month investigation, a federal court-appointed officer agreed with the Securities and Exchange Commission's earlier allegations that the defunct Woodland Hills-based Brokers Investment Corp. engaged in a fraudulent Ponzi scheme and that much of the money it raised never went into various businesses as promised. In a 72-page report filed this month in federal court in Los Angeles, Special Officer Robert A. Baker also detailed widespread misuse of investors' funds by officers of U.S.
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BUSINESS
December 14, 1993 | DON LEE, TIMES STAFF WRITER
After a six-month investigation, a federal court-appointed officer agreed with the Securities and Exchange Commission's earlier allegations that the defunct Woodland Hills-based Brokers Investment Corp. engaged in a fraudulent Ponzi scheme and that much of the money it raised never went into various businesses as promised. In a 72-page report filed this month in federal court in Los Angeles, Special Officer Robert A. Baker also detailed widespread misuse of investors' funds by officers of U.S.
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BUSINESS
August 17, 1993 | DON LEE, TIMES STAFF WRITER
Norman D. Shubert and Daniel H. Steinberg, accused by the Securities and Exchange Commission in a complaint filed in federal court last spring of running a huge boiler-room operation in Woodland Hills, have agreed to a federal order that bars them from the brokerage industry for life. The SEC order prohibits Shubert and Steinberg, both Calabasas residents, from "association with any broker, dealer, municipal securities dealer, investment adviser or investment company."
BUSINESS
August 17, 1993 | DON LEE, TIMES STAFF WRITER
Norman D. Shubert and Daniel H. Steinberg, accused by the Securities and Exchange Commission in a complaint filed in federal court last spring of running a huge boiler-room operation in Woodland Hills, have agreed to a federal order that bars them from the brokerage industry for life. The SEC order prohibits Shubert and Steinberg, both Calabasas residents, from "association with any broker, dealer, municipal securities dealer, investment adviser or investment company."
BUSINESS
June 22, 1993 | DON LEE, TIMES STAFF WRITER
Brokers Investment Corp. in Woodland Hills was terrific at raising money. What the Securities and Exchange Commission would like to know is what happened to it all. From 1989 to mid-1992, high-pressured salesmen at Brokers Investment raised $109 million by reading scripts on cold-calls made to thousands of investors from coast to coast, the SEC said.
BUSINESS
February 15, 1990 | KIM KOWSKY, TIMES STAFF WRITER
When U.S. District Judge Harold H. Greene ordered the now-historic breakup of telecommunications super-giant AT&T in 1983, he helped to create a narrow, but potentially profitable, market niche for companies offering long-distance operator services. San Diego-based U.S. Fiberline Communications was one of more than 100 companies nationwide that hoped to turn a profit by providing operator assistance to long-distance callers.
BUSINESS
May 1, 1993 | JAMES F. PELTZ, TIMES STAFF WRITER
The Securities and Exchange Commission on Friday accused a Los Angeles brokerage firm, Brokers Investment Corp., and nine other defendants of defrauding investors of at least $48 million through "boiler-room" sales. Nearly all the defendants simultaneously signed a consent decree, under which they neither admitted nor denied wrongdoing, agreeing to various injunctions and to repay any "ill-gotten gains," said Sylvia M. Scott, an SEC assistant regional administrator.
BUSINESS
June 30, 1993 | DON LEE, TIMES STAFF WRITER
Brokers Investment Corp. was terrific at raising money. What the Securities and Exchange Commission would like to know is what happened to it all. From 1989 to mid-1992, the Woodland Hills company's high-pressure salesmen raised $109 million by reading scripts on cold calls made to thousands of investors from coast to coast, the SEC said. Investors were lured with talk of potential profits of up to 32% a year from deals in telecommunications, fiber optics and automated teller machines.
BUSINESS
June 22, 1993 | DON LEE, TIMES STAFF WRITER
Brokers Investment Corp. in Woodland Hills was terrific at raising money. What the Securities and Exchange Commission would like to know is what happened to it all. From 1989 to mid-1992, high-pressured salesmen at Brokers Investment raised $109 million by reading scripts on cold-calls made to thousands of investors from coast to coast, the SEC said.
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