It turns out that our new friend in the drama, Victor Teicher, a partner in crime with Ezra Merkin, was one of the 1986 "Yuppie 5" insider trading crooks. Here is a Reuters story from the Times' site that links him in.
'Yuppie 5' Firm Fined
Published: April 13, 1990
LEAD: The New York Stock Exchange specialist firm Marcus Schloss & Company was fined $480,350 yesterday for conspiracy and securities fraud.
The New York Stock Exchange specialist firm Marcus Schloss & Company was fined $480,350 yesterday for conspiracy and securities fraud.
The charges against Schloss grew out of the 1986 ''Yuppie 5'' insider-trading scandal involving five young professionals, all under the age of 30. One of the accused was an arbitrage analyst at Schloss who passed confidential takeover information to his company.
Schloss was convicted by a Manhattan Federal jury in July of two charges relating to 1986 trades in American Brands Inc. It is appealing the verdict.
The company previously settled related civil charges brought by the Securities and Exchange Commission by paying $410,700.
The head of Schloss's arbitrage department, D. Ronald Yagoda, was charged with insider trading but was acquitted last summer. Arbitrage refers to the trading in stocks involved in corporate takeovers.
Schloss and Mr. Yagoda had been indicted in 1988 along with Victor Teicher and his arbitrage firm, Victor Teicher & Company, and Ross Frankel, who worked in the arbitrage department of Drexel Burnham Lambert Inc.
Mr. Teicher, his firm and Mr. Frankel were found guilty last week of insider trading.
The ''Yuppie 5'' scheme revolved around information that two of the group's members stole from Drexel and from the corporate law firm Paul, Weiss, Rifkind, Wharton & Garrison. The information was shared with the other young professionals including Andrew Solomon, a former arbitrage analyst at Schloss.
Mr. Solomon, who pleaded guilty to insider trading offenses in 1986, told the authorities he had passed the confidential information to Schloss.