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Wet Christmas !ACCENT: 1987 Top Ten A 60 percent chance of showers today, high in the IVIEWPOINT: Discovery through service lower to middle 40s.

08/15/88 Zl DlR **** NEWS **** EXPEDITE **** SPECIAL COLLECTIONS HESBURGH L IE:RA.f;'Y NOT~E LAME IN - .. - -~---...;;;;;;;:=::;::: VOL. XXI, NO. 67 FRIDAY, DECEMBER 11, 1987 the independent newspaper serving Notre Dame and Saint Mary's Wall street 'whiz kid' convicted in $1.3 billion scheme Associated Press Ernest Grunebaum, were con­ tor, assistant U.S. attorney was charged with any crime, collectively as The Securities victed of conspiracy to defraud Stuart Abrams. Hack, 62, faces but Abrams said they could be Groups, engaged in "prear­ -A one-time the Internal Revenue Service up to 14 years and $30,000 in held liable for back taxes and ranged, rigged and Wall Street whiz kid whose tax­ and other federal tax counts in fines, and Grunebaum, 52, up civil penalties. fraudulent" transactions be­ shelter services were used by a scheme that prosecutors said to 44 years and $70,000 in fines. Atkins, the son of former tween 1978 and 1982. Andy Warhol, Michael Landon enabled clients to claim $350 The investors included Ashland Oil Co. chairman Orin Those losses generated more and other celebrities was con­ million in phony tax deduc­ Postmaster General Preston Atkins, took Wall Street by than $350 million in bogus tax victed Thursday in what a pros­ tions. Tisch; his brother, CBS presi­ storm in the early 1980s with a deductions for the clients, ecutor said was the biggest tax Atkins, 33, faces up to 86 dent Laurence Tisch; actors series of tax shelters and in­ prosecutors said. Abrams said fraud case in U.S. history. years in prison and a $145,000 Sidney Poitier and the late vestment partnerships. IRS officials believed the Charles Atkins and two as­ fine for the 28 counts he was ; and television Prosecutl.