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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (2053)	11/10/1998 12:05:00 PM
From: MrGreenJeans	Read Replies (1) \| Respond to of 15132

At least this person has a sense of humor! Ex-Deutsche Fund Manager Young Wears Skirt to Court London, Nov. 10 (Bloomberg) -- Peter Young, a former Morgan Grenfell Asset Management fund manager now charged with fraud, appeared in a London court today wearing a beige skirt, red lipstick, high-heels and clutching a pink handbag. Young was charged with conspiracy to defraud and other offenses under the Financial Services Act by the Serious Fraud Office last month. He, and three other executives facing charges, were ordered to reappear on March 15. They are accused of involvement in the mutual fund scandal that cost Morgan Grenfell's parent company, Deutsche Bank AG, more than 400 million pounds ($664 million). Deutsche fired Young in October 1996 for violating rules regarding trading and holding of unlisted securities in the funds he managed. Young allegedly used Luxembourg-based holding companies to hide unlisted securities once he crossed the threshold of the amount of those securities he was permitted to hold in these funds. Two years after he and other executives were fired by Deutsche, the Serious Fraud Office laid fraud charges against Young and three other men. Today's hearing was a preliminary session and the trial will begin when they reappear in court. Erik Langaker, one of the founders of stock broker Fiba Nordic Securities and Jan Helge Johnsen, a colleague, are charged with conspiracy to defraud and were both released last month. At today's hearing friends of the two promised to pay 100,000 pounds if they failed to appear on March 15, said Philip Henry, assistant director of the nation's Serious Fraud Office. Stewart Armer, another former fund manager at Morgan Grenfell charged with conspiracy to defraud, did not appear in court because he is studying for a masters degree in Chile. A colleague has to provide a 10,000-pound guarantee, Henry said.