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The bankruptcy was a result of a failure of his condiment business Noble and Company selling horseradish, caused by the financial crisis known as the Panic of 1873. [21] [22] He was twice arrested and released. [19] He was tried for fraud in 1876 and acquitted. [19]
Post-bankruptcy filing, CMED's liquidator found itself probing an alleged $355 million insider fraud. In March 2017, the U.S. Department of Justice criminally indicted the CMED founder and CEO, as well as former Chief Financial Officer, charging them with securities fraud and wire fraud conspiracy for stealing more than $400 million from ...
In 1991, Trump Taj Mahal was unable to service its debt and filed Chapter 11 bankruptcy. [389] Forbes indicated that this first bankruptcy was the only one where Trump's personal financial resources were involved. Time, however, maintains that $72 million of his personal money was also involved in a later 2004 bankruptcy. [390]
Pages in category "Companies that filed for Chapter 11 bankruptcy in 1980" The following 6 pages are in this category, out of 6 total. This list may not reflect recent changes .
1980: Mail fraud [24] Democrat: David Durenberger: Senator: Minnesota 1995 Misuse of Public Funds [25] [26] Republican: John Dowdy: House of Representatives: Texas 1971 Federal official conflict-of-interest and Travel Act [27] Democrat: Joshua Eilberg: House of Representatives: Pennsylvania 1979: Federal official conflict-of-interest [28 ...
The history of bankruptcy law in the United States refers primarily to a series of acts of Congress regarding the nature of bankruptcy.As the legal regime for bankruptcy in the United States developed, it moved from a system which viewed bankruptcy as a quasi-criminal act, to one focused on solving and repaying debts for people and businesses suffering heavy losses.
The allegations led to his resignation on January 31, 1980. [260] J. Herbert Burke (R-FL) US Representative, pleaded guilty to disorderly intoxication and resisting arrest, and nolo contendere to an additional charge of witness tampering. He was sentenced to three months plus fines.
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