TITLE

Weiss Called 'Extremely Negligent'

AUTHOR(S)
Hume, Lynn
PUB. DATE
March 2006
SOURCE
Bond Buyer;3/6/2006, Vol. 355 Issue 32332, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on bond counsel Ira Weiss' negligence in giving a Pennsylvania school district an unqualified opinion that a $9.6 million arbitrage-driven three-year note transaction was tax-exempt in the United States. According to Weiss, he relied on school district officials in determining that the school projects were needed and would be developed. The Securities and Exchange Commission found that he should have known the purpose of the deal.
ACCESSION #
20281879

 

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