IvanK095,
FYI, Stan Richards was acquitted in 1977.
ABRAHAM B. GOLDBERG AND WILLIAM AXEL BERNHARD SENTENCED;STANLEY RICHARDS ACQUITTED
The Denver Regional Office announced that Abraham B. Goldberg and William Axel Bernhard,both of Colorado, and officers and directors of Institutional Securities of Colorado,Inc. (ISOC), a registered broker-dealer in Denver, Colorado pled guilty on July 28 to a three count information charging them with violating the antifraud and net capital provisions of the Securities Exchange Act of 1934 and with conspiracy to violate the antifraud, net capital, recordkeeping and broker-dealer reporting provisions of the Exchange Act and certain Sections of Title 18 of the United States Code. Also on July 28 ISOC pled nolo contendere to violating the net capital provisions of the Exchange Act. On September 2 Goldberg and Bernhard were sentenced by the Honorable Richard P. Matsch, U.S. District Judge, to eight days in jail, a $5000 fine and two years probation which is conditioned upon each performing 408 hours of charitable work. On the same day, ISOC, presently in
a trusteeship, pursuant to the Securities Investor Protection Act was sentenced to a fine of one dollar. At the time of sentencing, the court granted the U.S. Attorney's motion to dismiss the 40 count indictment returned on April 15 against these defendants.
On September 29 Stanley Richards, who had also been charged in that indictment with violating certain provisions of the Securities Exchange Act of 1934, was found not guilty by a federal jury. (U.S. v. Institutional Securities of Colorado, Inc., et al., U.S.D.C., 77-CR-128). (LR-8l67)
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