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(Studio) Report introduced
REPORTER: Max Robinson
(Miami, Florida) Lee College reported investing most of its endowment fund with Barclay Fin. Corp., later discovered to be a fraud; details given. Estimated amount in question mentioned; Barclay's use of pyramid scan explained, diagrammed on screen. Fraudulent statements sent to Barclay's investors shown, discussed; emergency action filed here by Securities and Exchange Commission reported Amt. invested by Lynwood Maddox detailed. [MADDOX - reacts to scheme.] [Court appointed receiver Hugo BLACK, Junior - notes extent of fraud.] Barclay senior vice president Dennis Greenman noted unavailable for comment; details given.
REPORTER: Michael Connor
- Connor, Michael;
- Robinson, Max
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