Word: scheming
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Dates: during 1980-1989
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...only problem is that because those companies "donated" money in return for the rights to use the Statue in their advertisements, little charity was involved. Rather, an elaborate marketing scheme financed the restoration of the Statue...
Consider, for example, the sad story of Warner LeRoy's attempt to help rebuild Manhattan's Bryant Park, a nine-acre urban oasis now inhabited largely by drug peddlers. Almost four years ago, New York City authorities announced a grand rehabilitation scheme that would feature the construction of a glass- walled cafe-restaurant. LeRoy, who operates the city-owned Tavern on the Green in Central Park, offered to build the restaurant with $12 million of his own money. "That will help make the park a great, wonderful public gathering place," said LeRoy, "like the Via Veneto or the Piazza...
...rare move, the grand jury charged that Shearson managers and employees knew about the money-laundering scheme. Now a subsidiary of American Express, Shearson is also accused of violating the federal Bank Secrecy Act, which requires that financial institutions report to the Internal Revenue Service all cash transactions in excess of $10,000. If convicted, Shearson faces a maximum fine of more than $16 million. While several banks have been charged with money laundering, it is unusual for a brokerage firm to be indicted for that offense...
...indictment hardly improves the tarnished reputation of Wall Street dealmakers. Last year E.F. Hutton pleaded guilty to a check-kiting scheme. The Securities and Exchange Commission said in May that it had cracked the largest insider-trading case ever: the $12.6 million scam allegedly engineered by Dennis Levine, a former managing director at Drexel Burnham. The Shearson indictment is the latest chapter in a continuing saga of Wall Street scandal. No one is calling it the last...
...fire-sale price of roughly $200 an acre, 43 sq. mi. of Orlando ruburbs (about twice the size of Manhattan and more than 100 times the area of California's Disneyland) on which to build the world's largest theme park. Florida's Governor predicted that the scheme would "bring a new world of entertainment, pleasure and economic development to the state of Florida...