Word: guterma
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Dates: during 1959-1959
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Nobody knew much about Alexander L. Guterma when he arrived in Wall Street five years ago. But he quickly showed himself such an expert in frenzied finance that he got control of F. L. Jacobs Co. (auto parts maker), Bon Ami Co. (scouring powder), Hal Roach Studios (Gale Storm Show), and the Mutual Broadcasting System. Last December Guterma's empire began to crumble...
...York Stock Exchange suspended trading in Jacobs stock for failure to file financial statements. Last week SEC suspended over-the-counter trading in Jacobs and Bon Ami. When space was booked in Guterma's name on a plane to Ankara, SEC quickly obtained a warrant for his arrest, said that losses to investors would reach many millions. Picked up with him was a longtime financial associate, Robert J. Eveleigh, who was found in a Manhattan call girls' apartment fortnight ago when police raided...
Mystery Man Guterma, 43, claims to have been born in Irkutsk, Siberia, though he speaks like a native New Yorker. His story is that he went to the Philippines in 1938 by way of China, managed to escape a World War II Japanese concentration camp. The war over, Guterma flowered as a trader, also obtained a bankroll from Philippine and Italian businessmen, which he brought to Florida in 1950 to start a project growing flaxlike ramie fiber. He then moved to Manhattan and with a partner opened McGrath Securities, a firm that often floated stock in his new companies...
Control of another Guterma company, Western Financial Corp., was sold by Guterma to Benjack Cage, the Texas swindler (TIME, Feb. 18, 1957). From $2.50 a share, the sales price in a few months dropped...