Word: frauds
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Dates: during 1990-1999
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Although Kott told TIME he was only a consultant to First Commerce, Dutch prosecutor Jan Koers says he found overwhelming evidence that Kott owned the company and played a major role in running it. He accused Kott of fraud, tax evasion and various other crimes. The criminal investigation stalled because Kott could not be extradited from Canada. Kott settled the case against him and other operators of the boiler room for about $4 million. This was pocket change in comparison with what First Commerce collected. Prosecutor Koers estimates that investors lost a bare minimum of $100 million. Jan van Apeldoorn...
Kott gets around. In 1976 he was convicted of stock fraud in Ontario and fined Can$500,000--believed to be the largest personal fine in Canadian history up to that time. In 1979 he was sentenced to four years in prison in another case, a conviction that was overturned on appeal. By the '80s, he had set out for Europe to help run an Amsterdam-based company called First Commerce Securities, which became mired in scandal. The operation was a classic boiler room--a brokerage firm that used high-pressure sales tactics to push dubious securities. Telemarketers dialed...
...REYNOLDS While former Congressman is in jail, he and broke wife Marisol are arraigned for fraud...
SENTENCED. ROBERT CITRON, 71, former Orange County, California, treasurer; to one year in prison and a $100,000 fine; for securities fraud and misuse of public funds that led to a $1.7 billion loss in 1994; in Santa Ana, California...
...building across town. That left 60 or 70 of his opponents behind in the original parliament, fuming and planning. Vice speaker Gennady Karpenko said the anti-Lukashenko deputies would not recognize the results, which were 70.5 percent in favor of the referendum. He said there was evidence of vote fraud that "constitutes a clear and glaring violation of the constitution and referendum law, crudely flouts human rights and makes the referendum results illegal." But across town, members said they had the necessary quorum to declare themselves the actual, working parliament, and seemed determined to follow their new ally. "Those people...