Phillip R. Bennett
Phillip Roger Bennett (born 1948) is the former CEO of Refco, Inc. He is a British citizen who was educated at Cambridge University. In the 1970s, he worked for Chase Manhattan Bank. He joined Refco in 1981 and became the firm's chief financial officer in 1983. In 1998, chief executive officer Thomas Dittmer retired and Bennett took the job. Refco scandal On October 10, 2005, it was revealed that Bennett had hidden roughly $430 million of bad debt from the company's auditors and investors. On October 12, he was charged with and arrested for securities fraud. Shares in Refco then proceeded to drop from $28 per share to $0.08 per share, before being halted and then delisted from the NYSE. Confidence among the brokerage's customer base evaporated and Refco was bankrupt within seven days of the scandal breaking. Bennett had been buying bad debts from Refco in order to prevent the company from needing to write them off, and was paying for the bad loans with money borrowed by ...
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University Of Cambridge
, mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Scholars of the University of Cambridge , type = Public research university , endowment = £7.121 billion (including colleges) , budget = £2.308 billion (excluding colleges) , chancellor = The Lord Sainsbury of Turville , vice_chancellor = Anthony Freeling , students = 24,450 (2020) , undergrad = 12,850 (2020) , postgrad = 11,600 (2020) , city = Cambridge , country = England , campus_type = , sporting_affiliations = The Sporting Blue , colours = Cambridge Blue , website = , logo = University of Cambridge logo ...
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