Question: Milton Mende purchased the Star Midas Mining Co Inc for
Milton Mende purchased the Star Midas Mining Co., Inc., for $ 6,500. This Nevada Corporation was a shell corporation with no assets. Mende changed the name of the corporation to American Equities Corporation (American Equities) and hired Bernard Howard to prepare certain accounting reports so that the company could issue securities to the public. In preparing the financial accounts, Howard (1) made no examination of American Equities’ books; (2) falsely included an asset of more than $ 700,000 on the books, which was a dormant mining company that had been through insolvency proceedings; (3) included in the profit and loss statement companies that Howard knew American Equities did not own; and (4) recklessly stated as facts things of which he was ignorant. Did Howard act unethically? The United States sued Howard for criminal conspiracy in violation of federal securities laws. Is Howard criminally liable? United States v. Howard, 328 F. 2d 854, 1964 U. S. App. Lexis 6343 (United States Court of Appeals for the Second Circuit)
Relevant QuestionsCasino Queen, Inc. operates a gambling and hotel establishment in East St. Louis, Illinois. Casino Queen’s location places it within a large metropolitan area comprised of East St. Louis, Illinois, and St. Louis, Missouri, ...Bad Boy Enterprises LLC (BBE) designs and manufactures the Bad Boy Classic vehicle, an electric four wheel drive vehicle that is built on a golf cart chassis. The buggy is designed primarily for off road use and is marketed ...Ethel M. Ramchissel executed a will that made the following bequests: (1) one half of the stock she owned in Pabst Brewing Company (Pabst) to Mary Lee Anderson, (2) all of the stock she owned in Houston Natural Gas ...Homer and Edna Jones, husband and wife, executed a joint will that provided, “ We will and give to our survivor, whether it be Homer Jones or Edna Jones, all property and estate of which the first of us that dies may be ...Zapata Off Shore Company (Zapata) was a Houston, Texas– based U. S. corporation that engaged in drilling oil wells throughout the world. Unterweser Reederei, GMBH (Unterweser), was a German corporation that provided ocean ...
Post your question