Word: frauds
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Dates: during 1980-1989
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...junk-bond wizard, Michael Milken, the pretense is over and the divorce begins. In court papers filed last week, it was disclosed that Drexel has agreed to fire Milken and withhold his 1988 bonus, estimated at $200 million. Since the investment firm has already agreed to settle criminal-fraud charges against it for a $650 million penalty, denying Milken his money effectively reduces the fine by more than 30%. Milken's attorney, Martin Flumenbaum, castigated the settlement as a "violation of due process, a punishment without trial." Separate criminal charges against Milken for securities fraud are expected to be filed...
...virus. Henry Kissinger and Walter Mondale, among others, have earned spots on his list of Communist spies. But last week LaRouche gave his conspiracy theories a more personal and self-aggrandizing touch. In an Alexandria, Va., courtroom, he declared that as a result of his conviction last month on fraud charges, "the vital interests of the United States have been put in jeopardy." A four-time presidential candidate on small-party tickets, he accused the Government of waging a campaign to "eliminate" him from the political scene...
...open when the Justice Department reportedly began issuing subpoenas to at least 40 people connected with the Chicago markets. By the time they finish gathering evidence in the next few weeks, federal prosecutors may be able to indict 100 or more commodities brokers and traders on felony charges of fraud and racketeering...
What better way to police a company than to sign up a former top cop? Wall Street's Drexel Burnham Lambert, which agreed last month to settle criminal- fraud charges, plans to hire a new chairman for its holding company. Drexel's choice to succeed Robert Linton: John Shad, the U.S. Ambassador to the Netherlands and former head of the Securities and Exchange Commission. Drexel is also recruiting trade consultant Roderick Hills, another former SEC chief, to serve on the firm's board. Neither had formally accepted by week...
...starting to produce results. Operation Ill Wind -- the two-year Justice Department inquiry into whether defense contractors bribed Pentagon officials for contract information -- blew in its first indictments and guilty pleas. Two defense contractors and nine men, including a middle-ranking Pentagon official, were hit with charges that include fraud, conspiracy, racketeering and bribery...