`Largest Securities Fraud' to Be Announced by US Prosecutors
New York, June 14 (Bloomberg) -- More than 100 individuals, including members and associates of five organized crime families, will be charged in what federal prosecutors said is ``the largest securities fraud takedown in history.''
In a press release, U.S. Attorney Mary Jo White said prosecutors will hold a noon press conference New York time to announce the case. The release offered few details.
``The cases involve more than 100 defendants, including members and associates of five organized crime families, a former NYPD (New York Police Department ) detective, a major West Coast investment adviser, stock promoters, brokers, officers, directors and other `insiders' of several companies,'' the statement said.
The defendants were ``allegedly involved in a series of nationwide, multimillion dollar securities schemes marked by racketeering, bribery, extortion, solicitation of murder, and other crimes,'' the announcement said.
Jun/14/2000 9:25 ET
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