Word: rubinsteiners
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Dates: during 1940-1949
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This did nothing to lessen the suspicions of the authorities, well versed in the fast-moving Rubinstein saga. Serge had been fleeing something, usually the authorities, most of his life...
...Corporation. Never one to be caught short himself, Serge had meanwhile been building up control of the Chosen Corp., Ltd., a British concern which owned Japanese companies operating gold mines in Korea. By 1937, when the Sino-Japanese War threatened to wipe out his interests, Rubinstein smartly sold Chosen's Far Eastern properties for $1,700,000 to a Polish friend. The latter supposedly smuggled Chosen's cash in Japan out of the country, wrapped in obis...
...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...