Ex-ZZZZ Best Official Ordered to Return Profit:...
Ex-ZZZZ Best Official Ordered to Return Profit: A former ZZZZ Best Co. official was ordered to return profit he made by trading stock in the rug shampooing firm founded by Barry Minkow, who was convicted of defrauding investors in a companywide scam. Jerry Polevoi, 41, of Simi Valley also was ordered to pay $675,000 in civil penalties. Polevoi and his brother Jack, who was also involved in the scheme, had ordered 54,200 shares of ZZZZ Best stock “sold short”--a way of betting that a stock price will decline--in mid-1987, when they knew that Minkow’s scams were falling apart but before the public had a chance to know, prosecutors said.
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