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Goldman foreign fund founder faces $71 million gold suit
Bernard Cornfeld of Investors Overseas Service and its Swiss affiliate were charged in Manhattan federal court with illegal gold speculation. The case says they bought $30.193 million in gold in 1968 without a U.S. Treasury license during a distressed market. Prosecutors note the Gold Reserve Act limits citizen ownership of gold. Cornfeld, abroad, is expected to defend.
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Bernie Cornfeld
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Investors Overseas Service Lct
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