Word: sec
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Dates: during 1980-1989
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These charges also revealed the growing ability of the SEC to crack cases without the help of the leads that played such a major role in the still spreading Boesky probe. Just as important, it demonstrated the SEC's willingness to track down suspects beyond U.S. borders, a crucial enforcement step in an era of global stock trading...
...Merrill Lynch mergermaker, Vaskevitch was in a prime position to know about any takeover deal being planned by one of the giant investment house's clients. The SEC says Vaskevitch illegally passed such tips to Sofer, who then arranged to buy the takeover stocks through two Wall Street brokerage firms, MKI Securities and Russo Securities, neither of which has been charged with wrongdoing. The profits from the trades returned in a roundabout way to Vaskevitch and Sofer through two intermediate companies, situated in England and Liechtenstein, in which Sofer held an interest, the SEC claims...
...father, whose holdings include the paper, does not approve: "The butcher, the baker, the candlestick maker -- you're very tight with that whole bunch of deadbeats now, aren't you?" Sometimes Jack is a Hollywood scriptwriter, and the bunch is livelier: Producer Marty Magnin, "reeking of Pinaud Lime Sec cologne . . . his shirt open four buttons down . . . beads of sweat around the plugs of his hair transplant"; Las Vegas Club Performer Buddy Seville, formerly Buddy Singapore and before that, Sandy Cairo; a collection of film folk and pool lizards for whom sex is merely foreplay for gossip...
...more beleaguered firm appears to be Drexel Burnham, the investment house with close ties to Boesky. Wall Street is restlessly waiting for the results of an SEC probe and a reported grand jury investigation into Drexel's activities, among them the highly profitable operation run by Michael Milken, the junk-bond guru. Even though no charges have been filed against Drexel, rumors have proliferated among competing firms that Drexel could conceivably face fines running into the hundreds of millions of dollars if its staff is found to have committed widespread insider trading...
...firm Jefferies & Co., headed by Boyd Jefferies, 56. That company specialized in quietly assembling large blocks of shares for corporate raiders outside the purview of the New York Stock Exchange. In that role, Jefferies & Co. almost always had advance knowledge of any important takeover deal. Lawyers familiar with the SEC say the regulatory agency is looking very closely at how such relationships could lead to illegal insider trading...