Word: sentineled
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Dates: during 1980-1989
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Last week a federal grand jury in New York City charged managers of the two small Wall Street companies, Sentinel Government Securities and Sentinel Financial Instruments, with perpetrating the largest criminal tax fraud in U.S. history. The defendants were alleged to have supplied investors with more than $130 million in bogus income tax deductions for the years 1979 and 1980. The previous record case: last September's indictment of Oil Trader Marc Rich and two of his associates for concealing more than $100 million in taxable income...
Although unaware that they were claiming questionable deductions, the Sentinel customers benefited mightily from their investments. Lear, who created such TV hits as All in the Family, Good Times and The Jeffersons, deducted $1.8 million on his 1980 federal return. Poitier wrote off $657,184 the same year. The largest amount claimed by an individual, some $3.5 million, was taken by George Scharffenberger, chairman of City Investing, a New York-based financial concern. Said he: "There's still a trial to be held, and they deny the charges very vigorously. We'll have to wait...
Some customers said they had been attracted by the prestigious company that the Sentinel concerns kept. Sentinel was a client of the prominent Wall Street law firm of Cadwalader, Wickersham & Taft, which has also counseled the likes of Holiday Inns, Occidental Petroleum and the Federal Home Loan Mortgage Corporation. Peat, Marwick, Mitchell...
...victory made a major change in the political and strategic world picture on the western shore of the Pacific. From Bering Strait to the Gulf of Tonkin Communism was now the major force. The western world merely held sentinel positions in Japan, the Philippines and Indonesia. Indo-China, Malaya and Burma-all three in turmoil-lay beneath the Communist threat...
...Fort Wayne (Ind.) News-Sentinel for coverage of a March 1982 flood that forced many of the city's residents to evacuate their homes...