The Nation : Broker Charged in Theft

A high-level official for Shearson Lehman Bros. in New York has been accused of stealing as much as $19 million from the company over the last year in a check-kiting scheme, federal authorities said. Mark L. Stahl, 45, who was suspended April 16 from his post as senior vice president of finance, was arrested at a restaurant with $30,000 in cash and a passport in his pocket, U.S. Atty. Rudolph W. Giuliani said. He was arraigned in federal court and released on a $1-million personal recognizance bond. Stahl was charged with one count of wire fraud involving the illegal transfer of $395,000 on March 19, but the scheme “allegedly involves $19 million in theft,” Giuliani said.