Former President of Spectrum is among 10 indicted in fraud case
Article Abstract:
Spectrum Information Technologies Inc's former President Peter T. Caserta and nine associates were indicted by a Federal grand jury for fraud. The others named in the indictment include Caserta's wife, nephew, son-in-law and Spectrum Global Services Inc head James Paterek. The prosecution contends that Caserta and associates defrauded 300 companies in 23 states for a total of $6 million. During the period from 1988 to 1994, the government claims that the group offered to negotiate funding for small companies from rich Saudi, Hong Kongese and Swiss investors for a $40,000 fee. The fraud was committed by the Caserta Group, a Spectrum subsidiary. When potential targets became uneasy about the deal, the conspirators would bring the target to Spectrum's headquarters and incorrectly claim that the Caserta Group had provided Spectrum's funding. After Caserta had their money, it would notify the target that the deal had fallen through.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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Argentine cloud over IBM grows darker
Article Abstract:
IBM's Argentinian branch has fallen under heavy scrutiny since the company was accused of resorting to bribery to land a $250 million contract with the state-owned Banco de la Nacion. IBM asserts that its employees were not in the wrong regarding the contract, which they do admit was not handled according to company policy. Prosecutors in the highly publicized case have called for the incarceration of officials at both organizations pending trial. IBM officials are concerned that the case could damage their reputation in Latin American countries, which accounted for $6 billion of IBM's $71.6 billion annual revenues in 1995. An IBM spokesperson said that the company may take legal action of its own to defend its right to the contract with Banco de la Nacion, which was canceled Jun 13, 1996. Since then, many IBM contracts have been audited, including one with Argentina's tax revenue service valued at $513 million.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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Microchips in microcosm; failed partnership is a lens for viewing U.S.-Intel suit
Article Abstract:
The failed relationship between Intel Corp. and Intergraph Corp. is a large part of the government's antitrust case against Intel. The Federal Trade Commission has charged Intel with extorting technology from some of its customers in order to maintain its monopoly in the semiconductor market. Several years after forging an agreement with Intel to be the sole supplier of chips for its computer workstations and agreeing to stop development of its own high-end chip, called Clipper, Intergraph contends that Intel infringed on its patents and misappropriated trade secrets. Intergraph also charges Intel with withholding critical technology and sample chips. Two other Intel customers, Compaq Computer Corp. and Digital Equipment Corp., have made similar charges against Intel.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1999
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