Court Issues Injunction Against Bilzerian: A federal...

Court Issues Injunction Against Bilzerian: A federal court in Washington has issued an injunction that orders former Singer Co. Chairman Paul A. Bilzerian not to violate securities laws. The Securities and Exchange Commission brought civil charges against Bilzerian on June 29, 1989, for such alleged violations as fraud and failure to report tender offers accurately. In issuing its injunction, the court agreed with the SEC’s contention that there is a “reasonable likelihood” that Bilzerian will break securities laws again. The SEC said Bilzerian made millions of dollars buying stock while hiding his ownership in companies through secret accounts--a practice known as parking.