Word: dolkart
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Dates: during 1970-1979
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...complaint follows a three-year investigation, aided by the confessions of Joel Dolkart, G& W's former general counsel, who was convicted in 1976 of forging a $250,000 check. The charges accuse the company of artificially inflating the value of some G &W assets; hiding losses by shuffling money and stock among subsidiaries; risking huge sums in unauthorized speculations in the commodities market; improperly transferring funds in and out of the Dominican Republic; investing G & W pension funds in outside businesses that benefited the officers; and using company legal, tax and financial services for private endeavors...
...catalyst for this calamity is a silver-haired lawyer named Joel Dolkart. He was G & W's general counsel for al| most 20 years, a bosom pal of Bluhdorn's -and a partner in the Wall Street cor| porate law firm of Simpson Thacher & Bartlett. Dolkart, a mergers and acquisitions expert with a taste for modern art, was hit with an 89-count indictment in 1974 for stealing $2.5 million through fraudulent checks from law firms representing G&W.* He pleaded guilty to one count of forgery a year ago and was sentenced to a jail term...
...cynicism that is engendered when, at the level at which this kind of fraud takes place, the general public believes that ultimately there isn't any effective sanction which will punish or which will be feared by these corporate thieves." Nonetheless, the appellate court agreed to give Dolkart yet another stay, pending an appeal of his sentence...
...Dolkart, knowing that the corporate checks of G&W and its subsidiaries needed two signatures, invented a fictitious character named "Pat Roberts" and drew the checks on the accounts of two obscure subsidiaries...