Untouchables: Lifestyles Of The Rich And Powerful

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[Policing Wall Street]

In this article I wish to describe the protection New York State accorded to a confessed serial rapist and stock manipulator by the Manhattan District Attorney.
In 1993, as readers of my column now know, I met with FBI Special Agent Joseph Yastremski, when the agency was investigating serious alleged crimes and corruption on Wall Street. I informed Yastremski that my primary reason for going to the FBI about criminal activity at
the American Stock Exchange was that a Board Member, Robert VanCaneghan had allegedly raped some of his female employees.

I also described the involvement of Louis Miceli and VanCaneghan, members of the Board of the American Stock Exchange, in the Mafia stock fraud, PNF. I told Yastremski that Al Avasso, a convicted felon and front man for the Italian Mafia, had boasted that he had bribed the senior executive in charge of compliance at the AMEX.

Avasso had masterminded another stockfraud, Greyhound Electronics. Avasso had earned $25 million in this stock fraud-and did not pay taxes on these illegally earned millions. As described in my previous articles, Heinz Grein, who had laundered billions for Ferdinand Marcos, also laundered Avasso’s money into a Luxembourg bank.

Avasso had approached Miceli and VanCaneghan with the stock fraud, PNF. Avasso told them that he had earned more than $25 million in the Greyhound Electronics stock fraud.  Avasso said that they could earn more than $100 million if PNF were to be listed on the Amex- provided that Miceli and VanCaneghan were the specialists in PNF and assisted Avasso in this fraud.

I also informed Yastremski that VanCaneghan and other members of the Board of the AMEX had boasted that Robert Morgenthau,
then District Attorney of New York County, would never prosecute VanCaneghan. It was not that VanCaneghan was a friend of Morgenthau. No--Alan Greenberg , CEO of Bear Stearns, and Jim Cayne, future CEO of Bear Stearns, were friends of Morgenthau.  

Manfredonia, a former trader, was tossed from Wall Street after he became a whistleblower.

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