The Record from Hackensack, New Jersey • 7

A 7 Another court ruling criticizes CIA head's financial deals December 1976. a special master reported to the court that the damages were not warranted but that subordination of the claims was. S. District Court Judge Al-vin Rubin accepted the master's findings in January 1977. One of Casey's codefendants, Carl Biehl, appealed Rubin's ruling to the 5th Circuit But in an opinion by Judge John R.

Brown, the appellate court said. "The master did find and the record supports his findings that the founding officers and directors engaged in an 'overall pattern of self-interest' The court questioned several business moves, including the purchase by Mult ponies of a Florida farm known as Lisbon Development owned by one of Multiponics's directors. "As the master observed, before the deal was closed they the directors' were 'advised repeatedly that Lisbon had incurred substantial liabilities, not reflected on the balance sheet upon which they voted to purchase Lisbon." Brown continued "Regardless. Biehl and the rest continued with the transaction, failing to heed the danger signals before them, managing the company deep and deeper into debt" Fiont Tnt ReCPd I WViC WASHINGTON. DC.

Another federal court ruling critical of CIA Director William Casey's financial dealings says he and other directors drove a now-defunct farming corporation "deeper and deeper into debt" by managing in a "pattern of self-interest" President Reagan. Vice-President George Bush, and White House counselor Edwin Meese III yesterday had barely finished affirming their support for Casey and discounting a May 19 federal court ruling against him in New York when a year-old federal appellate court ruling in New Orleans surfaced. Deputy White House press secretary Larry Speakes acknowledged that Reagan had first learned of the New York ruling by reading press reports Tuesday. It was unclear whether top administration officials were aware of the New Orleans decision when they took the line the trustee's lawyer. Peter J.

Butler of New Orleans. Casey's attorney in New York. Mdton Gold, said the CIA director, a self-made millionaire, lost $150,000 in the venture. Casey's legal troubles over Multiponics surfaced after his protege. Max Hugel, a millionaire businessman brought by Casey to the CIA from the Reagan presidential campaign, resigned Tuesday as head of the agency's clandestine sen ices.

Hugel's resignation came hours after The Washington Post printed allegations by two New York stockbrokers that they had participated in 1974 with Hugel in prohibited maneuvers to boost the stock of a firm Hugel once owned. Hugel denied any wrongdoing. Yesterday Casey told The Washington Post that he had known Hugel "for only 17 months, not 20 years' as Hugel had contended. When Casey appointed Hugel to one of the most sensitive posts in the agency, he defended his action on the ground that they had had a long and trusting relationship. When Hugel met with Post reporters and editors Monday, he was asked how long he had known the CIA director.

"About 20 years." Hugel responded. "We lived in adjacent towns in New York, on Long Island, and we were both active in local Republican politics." Casey, told that Hugel said be had known him 20 years, replied, "Maybe he knew about me." Multiponics filed for reorganization under the Bankruptcy Act three years after its founding. In January 1973, Butler filed a motion arguing that all other creditors should take priority over Casey and the other directors. Butler also filed a civil suit against Casey and the other directors seeking $2.1 million in damages and, again, subordination of their claims. The suit and motion were combined.

In that Casey's business dealings did not affect his CIA job. Reagan said. "I have complete trust in him Both rulings involved Casey's role in Multiponics a failed New Orleans farming venture. In the New York case, a judge ruled that Casey and other directors had knowingly misled potential investors in Multi-pomes in 1968. In the New Orleans case, Casey and the other directors lost a bid to claim part of the failed firm's assets.

That ruling was sought by a court-appointed lawyer for the firm's trustee and was upheld July 16. 1980. by a unanimous three-judge panel of the 5th U.S. Circuit Court of Appeals in New Orleans. As a result.

Multiponics's remaining 10 million in assets were' divided two weeks ago among the firm's creditors, leaving no money to repay the directors for personal loans made to the firm, said Troopers cracking down on litterbugs The Associated dess TRENTON State troopers patrolling the New Jersey Turnpike are increasing efforts to stop litterbugs. Motorists receiving summonses face fines of up to $500 under a state antilitter law. iff 3 51 If 2 I A UNIT Of ALLIED STORES ENTER THE AGE OF WIZARDRY ELECTRONIC FUN FOR THE WHOLE FAMILY INTRODUCING 2 NEW ACTIVISION CARTRIDGES FOR THE ATARI COMPUTER $23 EA. A. FREEWAY Remember the story, of the chicken' who wanted to cross the road? Well, this time it's a free-; way at rush hour! Your job is to get the chicken across safely.

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