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Computer Bank Theft #255750

CBS Evening News for Monday, Nov 06, 1978
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(Studio) California police detention of computer expert who is chgd. with bank theft by computer reported.
REPORTER: Walter Cronkite

(Los Angeles, California) Arrest of Stanley Mark Rifkin in apt. complex north of San Diego noted. Photo shown. FBI seizure during arrest of large amount of diamonds, allegedly in Rifkin's possession, reported Details given about computer transfer of funds rptdly. used by Rifkin to take funds from Security Pacific Bank and deposit them in Zurich, Switzerland, where he arranged to purchase diamonds from RUSSALMAZ, Soviet agency dealing in diamond exports. FBI recovery of unspent money stated. [Security Pacific spokesperson George MOODY - is confident that measures taken will prevent such theft again, but can't guarantee it.] Bank's possible gain in incident because of retail value of diamonds being higher than wholesale price Rifkin paid mentioned.
REPORTER: Barry Peterson (KFMB-TV newstape)

Cronkite, Walter

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