Two Dutch Businessmen Settle SEC Charges: The...
From Times Staff and Wire Reports
Two Dutch Businessmen Settle SEC Charges: The men were charged in an alleged insider trading scheme, the Securities and Exchange Commission announced. Robert F. Hoogstraten, vice president of European operations for Cupertino-based Tandem Computers Inc., and his friend, Theo Willard, agreed to pay a total $142,160 in restitution and fines of $83,000 without admitting or denying wrongdoing, the SEC said. According to a civil complaint filed at federal court in New York, Hoogstraten allegedly tipped off Willard in 1988 about Tandem’s proposed acquisition of Ungermann-Bass Inc., a Santa Clara, Calif.-based computer network designer-producer.
