Lawyer with fraud-tainted past is focus of PIPE critics

08/25/2006 | Wall Street Journal, The

The latest investment schemes to attract attention ... and contempt on Wall Street are the small-company financing deals known as PIPE, or private investment in public equity. And at the center of the practice, which critics call "toxic converts" and "death-spiral financings," is an attorney who pleaded guilty 15 years ago to conspiring to commit securities fraud.

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