LOOSE CHANGE
LOOSE CHANGE
The Securities and Exchange Commission has alleged that Nikko Securities Co. International Inc. (Nikko U.S.) falsified records to hide $18 million in speculative foreign exchange losses between October 1989 and March 1991. The commission charges that on or before May 12, 1991, the firm's chairman learned of the loss but didn't disclose it to regulators, instead burying it in false internal records and filing false financial reports with the commission and the New York Stock Exchange.
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