Word: clients
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...best of my recollection, my fraud began in the early 1990s. At that time, the country was in a recession and this posed a problem for investments in the securities markets. Nevertheless, I had received investment commitments from certain institutional clients and understood that those clients, like all professional investors, expected to see their investments out-perform the market. While I never promised a specific rate of return to any client, I felt compelled to satisfy my clients' expectations, at any cost. I therefore claimed that I employed an investment strategy I had developed, called a "split strike conversion strategy...
Through the split-strike conversion strategy, I promised to clients and prospective clients that client funds would be invested in a basket of common stocks within the Standard & Poor's 100 Index, a collection of the 100 largest publicly traded companies in terms of their market capitalization. I promised that I would select a basket of stocks that would closely mimic the price movements of the Standard & Poor's 100 Index. I promised that I would opportunistically time these purchases and would be out of the market intermittently, investing client funds during these periods in United States Government-issued securities...
...further cover-up the fact that I had not executed trades on behalf of my investment advisory clients, I knowingly caused false trading confirmations and client account statements that reflected the bogus transactions and positions to be created and sent to clients purportedly involved in the split strike conversion strategy, as well as other individual clients I defrauded who believed they had invested in securities through me. The clients receiving trade confirmations and account statements had no way of knowing by reviewing these documents that I had never engaged in the transactions represented on the statements and confirmations. I knew...
...crashed into a roadside ditch on the Autobahn entry ramp near the town of Wendlingen am Neckar, some 24 miles (40 km) from Winnenden. The driver managed to escape to a patrol car nearby, but the shooter vanished in the opposite direction. After killing a salesman, 36, and his client, 46, at a car sales yard in a local business area, the gunman was shot in the leg by law-enforcement officers but managed to vanish between the parked cars in the vicinity. The killing spree, which took a total of 16 lives, finally ended when Kretschmer, aware that...
...order to conceive all 14 of her children - the last batch of whom generated worldwide headlines as only the second living set of octuplets born in the United States. However, to other fertility practitioners and professional reproductive associations, Kamrava's reported means were troubling. And at least one former client had little heroic...