The Nation - News from Aug. 31, 1986
A federal jury in Chattanooga, Tenn., found C. H. Butcher Jr. not guilty of charges that he lied to investors and covered up insider loans that led to the 1983 bankruptcy of his finance company. The jury cleared Butcher, 49, younger brother of convicted bank-fraud felon Jake Butcher, of 25 counts of mail, wire and securities fraud. The bankruptcy cost 5,000 uninsured investors more than $25 million, prosecutors said. Butcher had faced up to 115 years in prison and $25,000 in fines if convicted.
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