OTHER NEWS - Jan. 8, 1992
From Times Staff and Wire Reports
Cascade’s Chairman Sold Stock Without Anyone Knowing: Cascade International’s vanished chairman engineered the sale of new stock in the retail company without auditors or the stock agent realizing it, the interim chairman says. Victor Incendy disappeared after analysts, who had rated Cascade one of the nation’s hottest over-the-counter stocks, discovered many of its claimed stores didn’t exist. Cascade filed for bankruptcy protection from creditors a month after Incendy disappeared. Interim Chairman Aaron Karp wrote stockholders in a four-page letter last month that he has no evidence that Incendy personally profited from the stock sales.
