Word: guterma
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Dates: during 1960-1969
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...permit the transfer of many of United Dye's assets to worthless insurance companies that he controlled. After he had managed to siphon off some $2,000,000 of the company's assets, Birrell sold his 38,500 United Dye shares. They went to another swindler. Alexander Guterma, who installed himself as chairman and Dardi as president...
...United Dye board, which controlled 90,000 of the 152,000 shares outstanding, then approved an ingenious Guterma plot to print thousands of additional shares and dump them on the public-at a profit. First it proposed a merger with little-known and profitless Handridge Oil Corp., which was controlled by Chairman Guterma and Las Vegas Gamblers Samuel Garfield and Irving Pasternak. Terms: 575,000 new shares of United Dye, worth $18 million, for 575,000 shares of Handridge, whose assets had been bought from Texas Wheeler-Dealers John and Clint Murchison Jr. for a mere $519,000. Remarkably, this...
Stoking the Boilers. The Guterma-Dardi group then attacked the problem of dumping 575,000 new shares of United Dye stock on the market without depressing the price. Instead of selling the new shares through the New York Stock Exchange, they engaged seven boiler rooms to float the stock on the over-the-counter market, got touters to push the stock with false claims. To keep the stock up and lure more gullible investors, United Dye engaged a shady bank in Tangier to buy the old shares listed on the Big Board, which were so thinly held that...
...trademark has assured U.S. housewives that the famed old cleanser "hasn't scratched yet." But the Bon Ami chick, if not yet scratching, is not unscratched. Five years ago, the Manhattan-based Bon Ami Co. was looted of $3,000,000 by Swindler Alexander Guterma (TIME. Feb. 23, 1959). As Guterma was packed off to jail, a reform management team, headed by dapper airline and hotel operator R. (for nothing) Paul Weesner, 51, moved in to put Bon Ami back on its feet. Last week, in New York State Supreme Court, a mounting stack of complaints and affidavits charged...
...late Senator Joe McCarthy, the coalition charged that Weesner and his directors had illegally disposed of $550,000 in Bon Ami funds. Most of this money, they charged, was used to help pay off an $810,000 loan assumed by the Weesner team when it took control of Guterma's 90.000 shares of Bon Ami stock. But among other offenses, Tel-A-Sign and the Webbs accused Weesner of having used $1,581 in company funds to pay for a specially built cage for his pet macaw...