3 First Pension
Principals
Plead Guilty to Fraud
by Debora Vrana
from The Los Angeles Times,
Business, Part D Page 1, August 2, 1994
partial reprint; contact The Los Angeles Times for complete
text
EXCERPT:
"Expressing 'incredible remorse'
at cheating thousands of investors out of $121.5 million in retirement
funds, prominent Orange County businessman William E. Cooper
on Monday acknowledged that the fraud engineered by his company
began only one year after it was founded in 1982."
OTHER POINTS:
-- Company president, Valerie
Jensen, and CFO, Robert Lindley, also charged in scheme.
-- Cooper, Jensen and Lindley
accused of running a pyramid scheme that cheated 8,000 First
Pension clients out of $66.7 million in direct investments and
$54.8 million in lost interest.
-- Chronology of events
given
For complete text, contact
The Los Angeles Times.
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