P.M. BRIEFING : Takeover Adviser Pleads Guilty : Adviser in Corporate Takeovers Pleads Guilty to Theft, Tax Fraud
A man who acted as an adviser in numerous corporate takeovers pleaded guilty today to stealing $1 million from his proxy solicitation firm between 1987 and 1989.
Donald C. Carter, suspended chairman of The Carter Organization Inc., also pleaded guilty to falsifying personal state income taxes and falsifying tax returns, said Ronald Goldstock, director of the state Organized Crime Task Force.
Carter entered the plea before Justice George F. Roberts in state Supreme Court in Manhattan, although the announcement was made at the task force offices.
Carter, 41, of Old Brookville, faces up to seven years in prison.
Among the victims of his thefts were many of the nation’s largest and best-known companies, including Union Carbide Corp., Shell Oil and Caesar’s World Inc.
According to Goldstock, Carter routinely billed his clients for nonexistent or inflated expenses between 1984-89, supplying false information to justify the bogus invoices.
Carter has agreed to establish a $1-million escrow fund to make restitution to the victims.
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