OTHER NEWS - Dec. 1, 1992
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From Times Staff and Wire Reports
Investment Group Returns $441 Million to Clients: The investment Group Avellino & Bienes returned $441 million to clients this month after the Securities and Exchange Commission charged it with selling unregistered securities and operating as an unregistered investment company. The SEC said U.S. District Judge Kenneth Conboy ordered a preliminary injunction against the firm and its general partners, Frank Avellino and Michael Bienes, for alleged securities laws violations.
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