Word: guterma
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ALEXANDER L. GUTERMA, 44, the freebooting financier convicted of bilking the public of nearly $1 million when he headed F. L. Jacobs Co., was fined $160,000, sentenced to four years, eleven months in prison. Still to come: trial on three other indictments...
Balding Financial Juggler Alexander L. Guterma, 44, who put together a shaky empire of a dozen corporations (TIME, Feb. 23), was convicted last week on 16 counts of conspiracy and fraud. Guterma and his British associate, Robert J. Eveleigh, found guilty on 15 counts, had sat through seven weeks of trial, listening to the damaging testimony of 53 witnesses. Accountants and auditors backed the Federal Government's contention that nearly 54,000,000 in assets vanished from Detroit's F. L. Jacobs Co., a holding company, while it was under Guterma controls. To conceal the losses...
...indictment said that Guterma and the other defendants offered to act as Trujillo "publicity agents." see that the Mutual Broadcasting System's 450 affiliated stations carried 425 minutes of favorable news a month about Trujillo for 18 months. A week after the deal was made, Guterma was out of his empire and Mutual as the SEC closed in with fraud charges (TIME. Feb. 23). Mutual broadcasts in February are alleged to have contained Dominican propaganda. But with Guterma gone, the puffs stopped...
...Mutual president) went on a press junket to Ciudad Trujillo last May, was confronted with the deal by a Trujillo aide. Shocked and angry, Mutual went to the Justice Department. Trujillo's lawyer also went to the Justice Department after he failed to get the money back from Guterma, turned over the alleged contract with Trujillo...
...week's end Guterma flew into Washington for arraignment, was released on $5,000 bail, raising to $25,000 his bail on three other federal indictments. Said lanky, tanned Guterma: "I have never been an agent for any foreign government, and I have no intention of being one." Roach and Culpepper also denied the charge, but the Dominican Republic announced that it had filed suit in the U.S. District Court against Guterma and associates for fraudulent misrepresentation, seeks return of the $750,000 it says it paid...