Benihana Inc.'s ex-CEO, Aoki, indicted by U.S

Article Abstract:

Benihana Inc.'s former chairman and CEO Rocky H. Aoki has been indicted by a federal grand jury for his involvement in an insider-trading scheme. The scheme also involved Spectrum Information Technologies Inc. Mr. Aoki was indicted on six insider trading counts and one conspiracy count. He is accused of making $590,000 in illegal profits from stock trading. Mr. Aoki allegedly received insider information on Spectrum.

Comment:

Former chmn and CEO Rocky H. Aoki indicted by a federal grand jury for his involvement in an insider-trading scheme

Food Services and Drinking Places, Eating Places, Company Personnel, Restaurants, Benihana Inc.

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Congress may act on measure to reform financial-services laws before recess

Article Abstract:

The chances for passage of a proposed financial-services reform legislation have been improved as a result of behind-the-scenes deal making between trade groups. This has also improved the chances of it being acted upon by the Congress before it goes into recess in the middle of October 1998. The American Bankers Association and the Independent Insurance Agents of America ended their opposition to the bill.

Comment:

Congress may act on proposed financial services legislation before it recesses in mid-October 1998

Financial Services, Finance and Insurance

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SEC accuses Grace of fraud in accounting

Article Abstract:

W.R. Grace & Co. and former executives all deny SEC charges that the company manipulated its earnings for a five year period. The SEC charges that the corporation took excessive earnings from its National Medical Care Inc. and put them into a reserve account to be drawn upon when needed. Grace owned the medical products and health services firm from 1991 through 1995.

Comment:

Firm denies SEC charges of manipulating earnings

Chemicals & Allied Products, Chemical Manufacturing, CHEMICALS AND ALLIED PRODUCTS, Finance, Investigations, Chemicals, Abstract, Chemical industry, United States. Securities and Exchange Commission, GRA, W.R. Grace & Co.

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