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Resource ID: #20760
Subject: Stocks And Bonds
Source: The Street.Com (New York)
Date: 2003-10-28



The Street finds out that the mutual-fund industry, usually seen as squeaky clean $ 7 trillion worth is riddled with systematic fraud. Street's reporter is led by his sources in brokerage, law and the regulatory world to two identities that are the key players instrumenting this corrupt mechanism. One of them is Bear Sterns, a major Wall Street institution that was coming under regulatory scrutiny. And the other, was Oppenheimer & Co. broker Michael Sassano who had worked with a disproportionate number of the scandal's players.

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