Word: sokolow
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...timing of Shad's gift follows the expulsion of first-year B-School student Randall D. Cecola last fall, when Cecola faced SEC charges of insider trading. Cecola played a small role in the same Wall Street scandal that incriminated Ira B. Sokolow and Martin A. Siegel, who obtained their Harvard MBAs in 1981 and 1971, respectively...
...others. In essence the agency says that from February 1985 to February 1986, Boesky profited as part of a far-flung insider scheme that involved Investment Banker Levine and at least three others. Named in the SEC complaint are Robert Wilkis, formerly at Lazard Freres and E.F. Hutton; Ira Sokolow, once with Lehman Bros. Kuhn Loeb and then with Shearson/American Express; and David Brown, formerly of Goldman, Sachs. The trio have given up a total of about $3.5 million in illegal profits and fines. Two weeks ago Sokolow was sentenced to a year and a day in prison on criminal...
...transferred assets to other banks in the Cayman Islands, controlling the money through still more institutions in Liberia and the Bahamas and using the code name Mr. Blake. Later, under the name of Alan Darby, Wilkis talked with Levine, who called himself Mike Schwartz, about various insider-trading opportunities. Sokolow, who did not know Wilkis, began in 1981 to supply Levine with information about the pending actions of Shearson Lehman's corporate clients...
...retailer Carter Hawley Hale because he knew that it would receive a takeover bid from Limited Inc. Since the stock's value spurted as a result of the tender offer, he cleared a $95,000 profit. Levine bought 33,000 shares of Carter Hawley Hale and made $222,000. Sokolow, meanwhile, leaked advance information to Levine about Litton Industries' 1982 bid for Itek and R.J. Reynolds' 1985 offer for Nabisco Brands. For those tidbits, the SEC said, Sokolow was paid...
...Sokolow and Wilkis signed consent decrees to settle the SEC's civil charges against them, neither formally admitting nor denying guilt. Wilkis' lawyer, though, said his client, a graduate of Harvard College and Stanford University's business school, "acknowledges . . . his own violations of the law." Both men were banned for life from the U.S. securities business, and probably still face criminal charges. To earn a chance for leniency, Wilkis and Sokolow extended swift cooperation to authorities. Wilkis resigned from E.F. Hutton even before the SEC brought its case. Sokolow's lawyer said his client, who majored in economics...