Word: probed
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Dates: during 1980-1989
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Ever since January, when an FBI probe of shady trading practices rocked Chicago's commodities pits, members of New York City's markets have wondered when the spotlight would be turned on them. Last week the waiting was over. On Thursday morning U.S. postal inspectors and officials of the Commodity Futures Trading Commission, the federal agency that regulates the pits, raided four of New York's five commodities exchanges. The Feds combed through records and served subpoenas on at least a dozen individuals in a search for evidence of suspected criminal and civil violations by an estimated 50 traders...
Although some believe only the truly gauche try to cut deals on the green, negotiating them over drinks after a game is acceptable. Besides, the fairway offers business golfers the chance to probe an associate's psychological strengths and weaknesses. Does the person blame himself or his caddy for a bad slice into the woods? Is she a club thrower or a pouter? Says Hollis Stacy, 35, who has won more than $1.3 million in Ladies Professional Golf Association tours: "If you find people who cheat at golf, chances are they cheat at life." Sports agent Mark McCormack...
...been plugged. Wright's trustee then sold the Speaker's interest in Mallightco for $350,000, less $80,000 to pay off debts to the firm -- a handsome profit from a hopeless dry hole. Wright insists he knew nothing about the well deal, but the ethics committee wants to probe deeper -- especially because the sale of the well was in part arranged by Morris Jaffe and his son Doug, two Texans who are trying to sell a $3 billion training-aircraft system to the Pentagon...
Drexel's pact with the SEC, which must be approved by a federal judge, will allow the firm to close the book on a 2 1/2-year federal probe. But the price is high. The agreement puts Drexel on probation for three years and requires it to set up an oversight committee. The firm is also naming a new chairman, former SEC head John Shad, to succeed Drexel's Robert Linton. As expected, the deal forces Drexel to cut all ties to its former junk-bond king, Michael Milken, who is facing separate criminal charges of racketeering and securities fraud. Last...
...before publication of the prosecutor's report, Hans Kopp, a prominent Zurich lawyer and husband of Justice Minister Elisabeth Kopp, resigned his positions as a director and vice chairman of Sharkarchi. Mrs. Kopp later resigned after admitting that she had warned her husband of the impending scandal. A criminal probe will determine whether she violated official strictures of secrecy...