The E-Sylum:  Volume 8, Number 51, December 4, 2005, Article 20

AMERICAN BANKNOTE'S DEMISE

"From a recent "list of scoundrels who populate the upper
tiers of our democracy's political and business worlds.."

"Morris "Mickey" Weissman (CEO of American Banknote convicted
of fraud in 2003; artificially pumped up company's earnings so
a 1998 IPO would succeed;  based on false 1996 and 1997 numbers,
the 1998 public offering of the company's subsidiary, American
Banknote Holographics, was a success, netting the company $115
million. When the accounting fraud was uncovered in early 1999,
the spinoff's shares dropped from about $16 a share to $1.80 a
share. The stock was delisted in August 1999.)"
Full Story

[It was a sad end to a firm that traced its roots to 1795.
Here a link to an article on the firm's history, from
Financial History, published by the Museum of American Finance:
Full Story
-Editor]

  Wayne Homren, Editor

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