Word: illicitness
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...across the U.S., investors were raging at the discovery that Wall Street high rollers had been ripping off millions of dollars by trading on knowledge not available to the general public. That sweeping form of sophisticated fraud did not merely touch the pocketbooks of professional stock-market players. The illicit profits came from taking unfair advantage of price movements in a broad range of stocks. That meant, in the end, that the speculators had pilfered from funds that countless thousands of ordinary investors had contributed to the market, in the form of their own stock purchases or investments in pension...
Almost everyone agrees that one of the best defenses against illicit insider trading is to increase the likelihood that offenders will be caught -- and that getting caught will hurt. So far the SEC has been reluctant to use the powers of treble confiscation of illegal profits granted to the agency in 1984. That should change. At the same time, the SEC under Chairman John Shad has shown greater eagerness than it had under his predecessors to pursue insider cases. Says Shad: "If the public believes that a few have privileged information and take advantage of it, it is going...
...outcome had never been in doubt. Ample evidence, and Hasenfus' own admission, confirmed that the former Marine had been delivering weapons to the U.S.-backed contras when his C-123K cargo plane was downed over Nicaragua on Oct. 5. For that act, Hasenfus was found guilty of terrorism, illicit association and violation of public security. He received a 30-year sentence, the maximum penalty under Nicaraguan law, and will seek an appeal...
...trial of Eugene Hasenfus began. Escorted by six guards, the jeans-clad ex-Marine glumly made his way to a seat before the People's Tribunal. For the next 80 minutes, Tribunal President Reynaldo Monterrey read the list of charges: terrorism, violation of public security, conspiracy to commit illicit acts. As Monterrey droned on, it became clear that more was at stake than the fate of Hasenfus, who was captured ferrying weapons to U.S.-backed contra rebels after Sandinista troops shot down an American ! Fairchild C-123K cargo plane over Nicaragua three weeks ago. The prosecution would attempt...
...Richard Snee) and Angie (Carroll Goldfarb) have hit upon the bright idea of using a golf course to carry out their illicit love affair; for "seventeen glorious Sundays," the pair have made love on succeeding holes. With lines like "ooh, I love it on the back nine," Angie chases and pants over Don; he, for the most part, brushes her off and plays hard to like...