Word: sec
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Dates: during 1980-1989
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Last week the SEC filed a 55-page civil complaint in New York federal court charging that Winans, Brant and three others had engaged in a scheme of "fraud and deceit" by trading on the basis of inside information not available to the public. If found guilty of the SEC charges, they will be forced to pay back the money they made, but they will not face jail sentences. A separate criminal investigation against them is being conducted, however, and that could lead to prison terms...
...SEC charges that Winans' tips on Journal stories led to 46 instances of insider trading in the stock of 27 companies. Also charged in the suit, which is backed up by more than 200 pages of documents, are Kenneth Felis, a college friend of Brant's and another former Kidder Peabody broker, who is said to have gained $302,000 from the trades, and David W.C. Clark, 34, a New York City lawyer and country club crony of Brant's. Clark is believed to have made...
...buying some of its preferred stock, and offered General Cinema one of its "crown jewels": the profitable Waldenbooks chain. Another part of the firm's strategy, buying back its own shares of common stock, raised the ire of the Securities and Exchange Commission. The SEC announced last week that it would sue Carter Hawley Hale for violating securities laws...
...flurry of allegations, among them that he had charged $25,000 in home interest payments to the corporation. Just days after Thompson accepted his new job, the Securities and Exchange Commission filed a complaint against Utica Bankshares of Tulsa, a bank holding company that Thompson had recently headed. The SEC charged that Utica had violated federal securities laws in 1982 by underreporting its estimated losses. Thompson had failed to let other board members know that his bank was the target of a securities probe. It has also been disclosed that while serving on the SFC board, Thompson tried to sell...
...farm girl emerged, seemingly from nowhere, in a race near Cape Town last January. Striding barefoot, as she prefers, over the artificial Tartan, Budd ran the 5,000 meters in an amazing 15:01.83, shaving nearly 7 sec. from Mary Decker's world-record time. Although she runs with an unearthly determination-like "safari ants on the march," says her full-time coach, Pieter Labuschagne-her feat remains unofficial. The International Amateur Athletic Federation ousted South Africa in 1976 for its apartheid policies; the country is also banned from the Olympics...