Word: fraude
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...torrid stock market of the 1960s produced dozens of "hot issues"-young companies whose stocks soared on dazzling dreams of instant wealth. Many collapsed just as quickly, falling victim to mismanagement, unrealistically high expectations or, in some cases, outright fraud. Some survive only as names in the memory of angry investors. Stirling Homex (modular housing) no longer exists; King Resources is still in bankruptcy proceedings; and Bernie Cornfeld's Investors Overseas Services is in the terminal stages of liquidation...
...perhaps $1 billion worth, had been sold to people who did not exist. In three wild weeks, Dirks raced around the country, confirmed the tipster's story, and told clients to get out of the stock. Equity declared bankruptcy, and 19 of its officers either pleaded guilty to fraud or were convicted of it. Former Chairman Stanley Goldblum is serving an eight-year sentence in a California federal prison...
...during this year's first nine months, on sales of $55.5 million. In a way, Equity/Orion has also earned money for Analyst Dirks. He faces a Securities and Exchange Commission hearing on charges, which he denies, that he failed to tell the SEC or the public about the fraud before he informed big stockholders. But he co-authored a book, The Great Wall Street Scandal, that has sold 25,000 copies and is being made into a movie...
Gould accused Burt of "conscious fraud" in fabrication of his data. He cited studies refuting hereditary influences on intelligence and said that there is "nothing really substantial" left to support Burt's theories...
Israelis justify their drastic proposals by arguing that the "misuse" of Israeli visas by U.S.-bound refugees will give the Kremlin a pretext to cut back on Jewish emigration on grounds of fraud. There is some evidence, though, that the Russians are indifferent to the actual destinations of the emigrants, even though they are acting in contravention of the Helsinki accords by restricting exit permits arbitrarily. The Israelis have proposed that Russian Jews seeking to go to the U.S. should apply at the nearest American consulate in the U.S.S.R., but that is an unrealistic suggestion: this year fewer than...