Word: thayers
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Dates: during 1980-1989
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...Paul Thayer. Last week the SEC charged that Thayer, as chairman of LTV Corp. and board member of Anheuser-Busch Cos. and Allied Corp., improperly passed along inside information to his friends. The day before the SEC filed its civil complaint in a New York federal court, Thayer resigned as the Pentagon's No. 2 man. Thayer termed the charges "entirely without merit" and vowed to fight them. At week's end his replacement had been named: William Howard Taft IV, the self-effacing chief counsel of the Defense Department, a protégé of Defense Secretary...
...complaint follows a ten-month investigation. It alleges that Thayer, who is married, has had a "personal relationship" since 1979 with Sandra Ryno, now 38, a divorcee and a former receptionist at LTV, the company he left a year ago for Washington. During 1981 and 1982, the SEC claims, Thayer passed stock tips to Ryno and seven other defendants in the suit. All seemed to come from soap-opera central casting...
Others who profited from Thayer's stock tips, the complaint goes on, included Gayle Schroder, 46, chairman of First American Bank and Trust of Baytown, Texas; Malcolm Davis, 48, a convicted gambler and president of a Dallas insurance agency...
According to the SEC, Thayer repeatedly told the group about the planned acquisitions, profits and dividends of Anheuser-Busch, Allied and LTV before public dissemination...
Events may prove Thayer right, but not in the way he hoped...