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To: CharlieChina who wrote (6083)	11/10/1998 3:48:00 PM
From: gringodoc	Read Replies (4) \| Respond to of 6735

Ex-Deutsche Fund Manager Young Wears Skirt to Court (Update3) 11/10/98 12:55 Ex-Deutsche Fund Manager Young Wears Skirt to Court (Update3) (Adds comment from lawyer in paragraph 3.) 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, floral frock 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 return to the court on March 15. Young's lawyer, Alexander Cameron, declined to comment on Young's dress at the City of London Magistrates Court, saying ''I am only prepared to tell you how to spell my name.'' Morgan Grenfell's parent, Deutsche Bank AG, fired Young in October 1996 for violating rules on trading of unlisted securities in the funds he managed. Young is charged with using 13 Luxembourg companies to hide unlisted securities once he crossed the threshold of the amount of those securities he was permitted to hold in the funds. The scandal cost Deutsche Bank about 400 million pounds ($664 million). In 1997, judges appointed a guardian to oversee Young's affairs. 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 in court next year. 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. --Peter Moreira and Alistair Barr with reporting by Kerrin Howard in the London newsroom (44 171) 330 7870 /rbc/mn/rbc