Reno Gazette-Journal from Reno, Nevada • Page 7

Heno Gazette-Journal Wednesday, April 6, 1983 7A Indictment charges money siphoned from brokerage used to buy casino Taste Tempting Dishes can always be found at mm Country Garden Restaurant crab quiche baked eggs florentine calaman shrimp ana snow peas. rUirlron yioran frpsfi seafood and many other dishes Country WITH COUPON GOOD THRU Open p.m. I 606 W. Plumb-Arlington Gardens 7 LETTER SIZE 430,83 LEGAL SIZE Other Services 826-0337 owned fry; Junior League of Reno 1 OLtiDO, Ohio (AP) A federal grand jury on Tuesday returned a five-count indictment charging the former managing partner of a Toledo stock brokerage firm with mail and wire fraud in the company's $36 million collapse. Edward P.

Wolfram, former chief officer of Bell Beckwith, was accused in the indictment of siphoning millions of dollars for a Las Vegas casino and hotel, oil operations, cattle and horse farms through six margin accounts he oversaw on behalf of his wife, Zula, from 1978 to 1983. The 85-year-old brokerage house was closed Feb. 7 after Securities and Exchange Commission investigators uncovered a collateral shortage. The indictment followed nearly two months of investigation by the FBI. The lawyer who represents Wolfram, William Connelly of Toledo, said neither he nor his client would have any comment on the indictment.

It alleges that over a five-year period, Wolfram, who was also securities compliance officer for the firm, used non-existent or overvalued collateral to back up loans made through the margin accounts. The indictment said between 1978 and 1983, Wolfram acted to defraud Bell Beckwith's roughly 7,100 customers by misrepresenting the value and authenticity of the securities used as collateral. In one case, Wolfram said he put up stock in a Japanese company called Toto Ltd. that was worth more than $278 million. The actual value of the stock was about $5,000, the indictment said.

From 1978 through February, the indictment said, Wolfram misappropriated at least $32 million. It said that included $14.3 million used in the purchase and operation of the Landmark hotel and casino complex in Las Vegas; $3.1 million for the purchase and operation of a horse farm in Ocala, another $1.7 million for the operation of an oil company in Baton Rouge, and nearly $1 million for operation of cattle ranches in Arkansas. The indictment also alleges that the remainder of the money was used for the purchase of an airplane, renovation of antique cars, donations, loans, gifts and personal expenses. Collating Stapling Capable of 15,800 Copies Per Hour Colored Paper Z-Side Copies Index Stock Mailing Labels Special Papers Reduction WEIGHT MANAGEMENT PROGRAM Clinically tested, Nutritionally balanced Special Introductory Offer 2 Complete replacement meals each day plus Multi-VitaminMineral Supplements Weekly Weight Management Workshop and Support Program Nutrition and Behavior Modification Counseling SPA VisitsExercise Classes Program Kit LESS THAN $40.00 PER WEEK! For Information call: 825-2691 or 826-6699 Health care package for jobless planned "Lower prices on larger quantities." New Xerox 8200 and 9400. "It's a miracle" Capable of producing 15,000 copies per hour.

Moana East Shopping Center 595 E. Moana Lana Reno. NV 89509 825-3800 Hours: 9a.m.-6p.m. Sat.10a.m.-4p.m. Labor and Treasury departments and the Office of Management and Budget are meeting daily "We are looking forward to a concrete proposal being drafted in the next few weeks," she said in her first congressional appearance since becoming head of the department.

The cost of such a program has not been determined. Senate sources, who asked not to be named, said the administration wants a permanent source of money for such a program other than general Treasury funds. WASHINGTON (AP) The Reagan administration is drafting a plan to provide health insurance to millions of jobless Americans and is hoping that Congress will enact it this summer, Health and Human Services Secretary Margaret Heckler said Tuesday. Mrs. Heckler told a Senate Appropriations sub-commmittee that the administration wants "a plan which would satisfy the current problem as well as not create a new entitlement program which would be a drain." She said representatives from her department, the Pentagon says B-52 Harpoon missile tests successful WASHINGTON (AP) B-52 bombers scored hits October formalizing such cooperation between the two services.

Pentagon sources said the three missiles struck a stationary ship, which they did not identify. The missiles were not armed with explosives. The Air Force plans to equip two squadrons totaling 30 B-52G bombers "so that they will be capable of carrying the Harpoon missile during contingency operations," the announcement said. on ships last month in tests of their ability to fire Harpoon missiles at surface targets, the Pentagon announced Tuesday. The three firings in the Pacific test range off the California coast are part of preparations for a wider role by Air Force B-52 bombers in helping the Navy defend sea lanes.

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