Sudikoff, Former Partner Plead Not Guilty

Jeffrey P. Sudikoff, a former owner of the Los Angeles Kings hockey team, and his business partner pleaded not guilty to federal securities fraud charges in connection with a once high-flying Culver City telecommunications firm. Sudikoff, 41, and former partner Edward Cheramy, 53, face 19 federal charges, including securities fraud and a conspiracy to overstate earnings at their company, IDB Communications Group Inc. Sudikoff, the former chief executive officer of IDB, also is charged with insider trading. The two men also face a civil suit filed in September by the Securities and Exchange Commission. Cheramy, who now lives in Jackson Hole, Wyo., is free on $250,000 bail and may be restricted in his traveling. Sudikoff also agreed to post $250,000 bail. He will be allowed to travel anywhere in the world as long as he gets permission and surrenders his children’s passports to the U.S. attorney’s office. Trial date for the criminal case is set for March 10. No date has been set in the SEC case.