Bilzerian Charge Dropped: A federal judge dismissed...

Bilzerian Charge Dropped: A federal judge dismissed one of 12 felony counts against Singer Co. Chairman Paul A. Bilzerian but refused to shift the securities fraud trial to Tampa, Fla., where the corporate takeover specialist lives. Bilzerian, 38, is accused of violating securities and tax laws, conspiracy and making false statements in connection with four failed takeover transactions in 1985 and 1986. U.S. District Judge Robert J. Ward dismissed one count of making false disclosure statements in a transaction with Armco Inc. The defense had asked Ward to dismiss all the charges. The trial is scheduled to begin May 1 and is expected to last four to six weeks. Bilzerian faces a maximum penalty of five years in jail and a $250,000 fine on each count. None of the charges involve Bilzerian’s $1.06-billion takeover of Singer, a defense contractor he acquired last year after a lengthy struggle.