Word: sec
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Dates: during 1970-1979
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There the Vesco case rested until earlier this year, when the Securities and Exchange Commission began delving into more of his complicated stock schemes. The probe led to Dorminey and Herring. The SEC also obtained unsigned copies of letters and telephone logs of purported contacts in early 1977 between Lee, Jordan and Carter Adviser Charles Kirbo...
...April the SEC charged Page with making sham deals overseas to hide various payoffs in connection with the sale of four Gulfstreams to Saudi Arabian Airlines between 1975 and 1977 and the 1975 sale of a Gulfstream to Morocco. The total unaccounted-for funds, says the commission: $5 million...
...SEC also charged that since 1971 Page executives have made other questionable payments of more than $2.5 million in connection with $60 million in aircraft sales abroad, mostly involving Gulfstreams. According to the SEC, Page gave $200,000 to President Albert-Bernard ("Omar") Bongo of Gabon; paid $412,000 to an organization whose secretary was Timothee Ahoua, Ivory Coast Ambassador to the U.S.; passed $900,000 to an outfit controlled by Datuk Harris Salleh, at that time Minister of Industrial Development of the Malaysian state of Sabah; and gave a Cadillac convertible to Uganda's dictator, Idi Amin Dada...
Wilmot insists that the SEC charges are without merit and dismisses criticism about dealing with Amin. Says he: "You don't have to believe in a man's political philosophy to do business with...
Although it could be many months before the SEC's charges come to trial, Wilmot's days as a highflyer in international aviation seem over. Last month Grumman sold its Gulfstream-manufacturing subsidiary to American Jet Industries, of Van Nuys, Calif. Its president, Allen Paulson, says flatly that Page will not be asked to help sell any more Gulfstreams...