Word: sec
(lookup in dictionary)
(lookup stats)
Dates: during 1930-1939
Sort By: most recent first
(reverse)
Chapter 5. By the fourth day of the case possible missing assets had grown to $18,000,000-$10,000,000 in inventories and $8,000,000 in accounts receivable. Five investigations began-by the SEC, Department of Justice, U. S. Treasury, New York State Attorney General John J. Bennett Jr., and New York County District Attorney Thomas E. Dewey. Mr. Bennett got started first, sent a man to Canada to try to find some warehouses...
...went on to say that it would sell or exchange 24 operating companies farther west, if SEC insisted, but would retain its Philippine properties as beyond the scope of the law. Ably playing to the hilt the new role of reformed penitent, the company announced: "While the changes . . . are of a sweeping character, obedience to the law, and a loyal respect for public opinion, demand that the task be performed in the best of faith...
...Groves was not slow in making his presence felt. He acquired a handful of broken-down investment trusts, put them together as Equity Corp. and sold them to Rockefeller Son-in-Law David M. Milton at a profit of $750,000, according to SEC...
Disaster, when it came, came from all sides. His wife divorced him, sued a brunette and various others for slander. The Treasury listed him as a tax avoider. Stockholders sued him. SEC got after him, turned its findings over to a U. S. Attorney. Last week in New York a Federal grand jury indicted Wallace Groves, Brother George Groves and Cronies De Ronde and Warriner and five corporations* on 14 counts of mail fraud and one of conspiracy. Principal transaction named in the indictment was a neat little deal whereby Wallace Groves was said to have made...
...York and other financial centres last week the Securities & Exchange Commission began cleaning up an international "front money" racket. As uncovered by SEC on the West Coast, the racket works as follows: a broker with a luxurious office advertises he can obtain capital up to $100,000 for persons with ideas or assets to capitalize. The sucker pays $250 to $2,500 to file a prospectus, smaller fees to organize a corporation and qualify its securities in New York. One Paul E. Reinhardt, front man for front money in Los Angeles, told SEC that for none of his 150 clients...