To: Janice Shell who wrote (979 ) 3/8/2000 5:34:00 PM From: FigureOuter Read Replies (1) | Respond to of 1156
Or has the story ended. Is this of any significance? (DOW JONES) DJN: DJ Ex-Renaissance Fincl Principals Indicted In Perjury DJN: DJ Ex-Renaissance Fincl Principals Indicted In Perjury Case By Colleen DeBaise NEW YORK (Dow Jones)--A Long Island, N.Y., man who was barred from the securities industry more than 25 years ago was indicted on charges he secretly went to work for now-defunct Renaissance Financial Securities Corp. Stanley Cohen was charged along with his son Adam Cohen, daughter Jamie Scher and two other firm employees with hiding his employment while obtaining licenses from securities regulators and money from customers. Cohen, formerly a mayor and chief of police in Great Neck Estates, N.Y., also was charged with fraud for manipulating the prices of stocks in which Renaissance made a market, including ObjectSoft Corp. (OSFT) and Intelect Communications Inc. (ICOM). Manhattan District Attorney Robert M. Morgenthau said it was unclear if the firm's customers lost any money because of the defendants' alleged wrongdoing. Cohen was paid more than $400,000 during his nearly two years as head trader at Renaissance, he said. The indictment follows similar charges filed in October by the National Association of Securities Dealers accusing Cohen and other employees of thwarting its probe into his employment. Cohen was barred from the securities industry by the Securities and Exchange Commission in 1973 for manipulating stock prices. Authorities say Adam Cohen was president of Renaissance and Jamie Scher was its in-house counsel. Also indicted were Todd Spehler, the firm's chief executive, and Eileen Torrillo, its office manager. Renaissance withdrew from NASD membership in 1998. The defendants could face up to seven years in prison if convicted of perjury, the most serious charge. They were scheduled to be arraigned later Wednesday in New York State Supreme Court. An attorney representing the Cohens and Scher couldn't be reached for comment. -Colleen DeBaise, Dow Jones Newswires, 212-227-2017, colleen.debaise@dowjones.com (END) DOW JONES NEWS 03-08-00 03:53 PM *** end of story ***