CMKM Diamonds Inc (fka CMKX)

[Aristo]

FIVE INDICTED IN AIR WEST ACQUISITION. The SEC announced yesterday t h a t f i v e persons were i n d i c t e d by a P'edeml grand jury i n Las Vegas, Nevada, on charges of stock manipula-t i o n and conspiracy i n connection with t h e acquisition of A i r West Airlines i n 1969 < < by t h e o l d ~ G h e sTo ol Company, now known a s Summa Corporat ion. Indicted were: Howard R. Hughes, sole shareholder of Summa; Robert Maheu, former chief executive o f f i c e r of Hughes-Nevada Operations of Summa; Chester C. Davis, chief l e g a l counsel f o r Summa; David B. Charnay, a business a s s o c i a t e of Hughes who i s president of Four S t a r I n t e r n a t i o n a l , a TV and movie production firm; and James H. Nall, i n charge of land a c q u i s i t i o n f o r Hughes-Nevada Operations. Named a s unindicted co-conspirators were Herman " ~ a n k " Greenspun, owner and e d i t o r of t h e Las Vegas Sun, and George Crockett, a n a s s o c i a t e of Hughes. The indictment charged a conspiracy among the defendants and co-conspirators between June, 1968, and January, 1969, t o depress t h e market p r i c e of A i r West stock. According / t o t h e indictment Charnay, Greenspun and Crockett sold a t o t a l of 46,000 shares of A i r West stock over a two-day period i n December, 1968, and Hughes, Maheu and Davis caused . the f i l i n g of law s u i t s against d i r e c t o r s of A i r West who voted against s e l l i n g the a i r l i n e t o Hughes Tool Company. According t o the indictment the defendants used the s u i t s to pressure A i r West directors who opposed Hughes i n t o changing t h e i r votes. Hughes was accused of directing Maheu and Davis - by handwritten memoranda and verbal communications - t o i n s t i t u t e the s u i t s and t o unlayrfully manipulate t h e market p r i c e of A i r West stock t o make Hughes1 o f f e r appear more a t t r a c t i v e . (LR-6187)

http://www.sec.gov/news/digest/1973/dig122873.pdf


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Bob Maheu gets involved with scams?