..and conspiracy to commit murder...
It appears that the Globus Group had some real sweet hearts in it.
I found the following on the NASDAQ web site.
Emory
NASD Investor Protection Initiatives - as of 01/09/98 For many years, one of NASD Regulation s top priorities has been to combat market manipulation and sales practice abuses in the Nasdaq SmallCap and over-the-counter (pink sheets and OTC Bulletin Board) mark nasdaqnews.com
NASD Investor Protection Initiatives - as of 01/09/98
nasdaqnews.com
For many years, one of NASD Regulation's top priorities has been to combat market manipulation and sales practice abuses in the Nasdaq SmallCap and over-the-counter (pink sheets and OTC Bulletin Board) markets.
In July of 1995, the organization launched a major SmallCap sales practice initiative which is still underway. The focal point was approximately a dozen firms suspected of being among the worst actors in this market. With the assistance of District offices around the nation, NASD Regulation commenced investigations into these firms. Over 100 examiners, attorneys and supervisors spent nearly 20,000 workdays on these investigations. In two recent cases that were brought under this initiative—D.H. Blair and GKN—more than 4,300 investors in 48 states and the District of Columbia, will receive more than $3.8 million in restitution.
In 1996, NASD Regulation brought 1,200 disciplinary actions, an increase of 12 percent over 1995, and collected disciplinary fines increased by almost two-thirds. Thirty-one firms were expelled or suspended from membership, while 598 individual brokers were either barred or suspended.
Market Manipulation, Sales Practice and Fraudulent and Excessive Markup Cases
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Globus Group, Inc. (April 1997)
US Attorney EDNY; FBI
22 count indictment of ring (18 individuals) comprised primarily of Russian émigrés for massive securities fraud violations and conspiracy to commit murder.
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