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Tennessee / Butcher #542774

NBC Evening News for Wednesday, Mar 06, 1985
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(Studio) Report introduced
REPORTER: Tom Brokaw

(Knoxville, Tennessee) Indictment today of financier Jake Butcher for several counts of income tax evasion reported; background to his financial problems, incl. indictments in several states stemming from banking empire's collapse, reviewed. [BUTCHER - will continue fighting.] Jake and C.H. Butcher's childhoods and apparent impact on his current life noted; Cecil Butcher noted feeling son lost control due to involvement in pols. and Knoxville World's Fair. [Cecil BUTCHER - explains his approach to business] Knoxville World's Fair financial success and role of Butcher's bank reviewed. [BUTCHER - denies personal financial involvement in fair.] ["Tennessee Journal" publisher Lee SMITH - recalls events leading to Butcher's downfall.] [Feb. 14, 1983, federal AUDITOR - announces closing of Butcher's bank.] Severity of Butcher banking empire failures described; accusations against both Butcher brothers listed on screen. [Liquidator William HAYS - accuses Butcher of disregard for fundamentals of financing.] Investigation noted currently underway to determine if Butcher intended to personally gain from World's Fair. [BUTCHER - claims innocence.]
REPORTER: Kenley Jones

Brokaw, Tom;
Jones, Kenley

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