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Bloomberg News

* Former IDB Communications Group Inc. Chairman Jeffrey Sudikoff will pay $852,565 to settle Securities and Exchange Commission allegations that he fraudulently inflated the telecommunications company’s stock in 1994 and made insider trades. Under the terms of a settlement approved this week by a federal judge in Los Angeles, Sudikoff, who is serving a one-year sentence on related criminal charges, neither admitted nor denied the allegations. Sudikoff, former owner of the National Hockey League’s Los Angeles Kings, agreed to pay $522,505 representing losses that the SEC said he avoided on certain insider trades. He also agreed to pay interest of $130,060 and fines of $200,000.

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