Word: rubinstein
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...Rubinstein moved the Chosen Corp. and himself into the U.S. He took the trust's money into Wall Street, in 1942 bought control of Panhandle for $187,000. Soon he turned it into a holding company controlling $6,600,000 in subsidiary oil, urban real estate, road-building and construction interests...
...After Rubinstein took over, the price of securities of the companies usually went up, and he cashed in. Example: Panhandle stock went from $1 to $14. He married a tall, blond sculptress and bought the palatial six-story mansion at 814 Fifth Ave. of famed financier Jules Bache. As in his financial deals, the cash outlay was small, only one-fifth the $105,000 price. Downtown, Rubinstein worked hard. Uptown, in cafe society, he played hard. He became known as the man who always picked up the check, and thereby made new friends who might prove useful...
...Charges. But Chosen stockholders did not approve of Rubinstein's doings. Before the New York Supreme Court, they charged that Serge had kept part of the cash from the Japanese deal, put it into the Manhattan bank account of one Serge Manuel de Rovello. Cried one irate stockholder: "The history of this company is the history of a racket probably without precedent. . . . There can be no doubt that the disposal of our property was conceived in iniquity and born in sin." Cried another: "Let us never forget . . . the manipulations, financial jugglery, or what some would term jiggery-pokery...
...case was settled when Rubinstein paid over about $2,250,000 to the stockholders. But it caused U.S. immigration authorities to pounce: they found that Serge had adopted the new name for use, as he explained, "on formal occasions," that he had changed his Russian citizenship for Portuguese. A passport-fraud charge could not be made to stick. But his draft board hopes to be more successful...
...troubles, Rubinstein last week had a simple explanation: "I'm being persecuted...