Word: sec
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Dates: during 1980-1989
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...securities fraud, which carry a potential 45-year prison sentence and $2.25 million in fines. Then last week the Securities and Exchange Commission filed a civil lawsuit accusing him of illegal stock transactions involving seven companies, including his 1988 takeover of Singer. The charges range from lying to the SEC about how he financed his raids to trying to hide the number of shares he owned. In its suit, the SEC asks for repayment of more than $31 million in allegedly illegal profits. While denying the new charges, Bilzerian last week resigned as chairman of Singer, a post...
...SEC accuses four of Bilzerian's associates of helping him conceal his financial dealings. Three of them, including shopping-mall magnate Edward DeBartolo Sr. of Youngstown, Ohio, have already settled without admitting guilt...
Batman surely has consumer anticipation -- in Hollywoodese, "wanna-see." Last fall Fleet Street sent out helicopters to get photos from the film's closed London set. In the U.S. last winter, fans reportedly paid $6 to get into theaters where the 90-sec. trailer was being shown, then left before the main feature. The market is already clogged with Batman products -- including miniature Batmobiles, Batwings, sunshades, earrings, cloisonne pins, backpacks and boxer shorts -- as part of a huge merchandising campaign...
...certainly fast. The car has a top speed of 180 m.p.h. and can go from 0 to 60 m.p.h. in a blistering 4.2 sec., making it the fastest factory-built car in the world. Moreover, the Corvette more than holds its own in road- hugging tests against the $75,000 Porsche 928GT and the $180,000 Ferrari Testarossa...
Drexel's pact with the SEC, which must be approved by a federal judge, will allow the firm to close the book on a 2 1/2-year federal probe. But the price is high. The agreement puts Drexel on probation for three years and requires it to set up an oversight committee. The firm is also naming a new chairman, former SEC head John Shad, to succeed Drexel's Robert Linton. As expected, the deal forces Drexel to cut all ties to its former junk-bond king, Michael Milken, who is facing separate criminal charges of racketeering and securities fraud. Last...