INVESTMENT FIRM SUBJECT OF INQUIRY.THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. - A financial firm and its brokers, which may have handled up to $10 million in investments from Ventura County and Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County residents, is being investigated for possible fraud, authorities said Tuesday. The Ventura County Sheriff's Department The Ventura County Sheriff's Department (VCSD) provides law enforcement for the unincorporated areas of Ventura County, California, USA, as well as several cities within the county. The cities that VCSD serves are Camarillo, Fillmore, Moorpark, Ojai, and Thousand Oaks. and the state Department of Corporations are investigating Capital Advisory Group after residents complained in July about investments made by broker Vincent Ferro, officials said. After complaints were made, Ferro, 42, closed down the Capital Advisory Group office, moved from his Thousand Oaks home and made himself unavailable to his clients, officials said. Capital Advisory Group and Ferro could not be reached for comment. Investors told police that Ferro instructed them to write checks to a Houston, Texas-based trust company for a one-year certificate of deposit, callable Callable Applies mainly to convertible securities. Redeemable by the issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to par and declines annually. at any time. Instead, their funds were pooled for so-called jumbo CDs Jumbo CD A certificate of deposit (CD) with a minimum denomination of $100,000. Notes: Jumbo CDs are typically bought and sold by large institutional investors, such as banks and pension funds, because of the high minimum denomination. that mature in 20 to 30 years, authorities said. Investors said that when they received their monthly statements, their account balances were substantially less than the principal they had provided. Authorities also said Ferro was receiving 15 percent to 45 percent commission. - Daily News Disney's earnings prompt optimism Entertainment giant Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. closed its fiscal year 2000 with ``another solid quarter,'' Chairman and Chief Executive Michael Eisner Michael Dammann Eisner (born March 7, 1942) was CEO of The Walt Disney Company from September 22, 1984 to September 30, 2005. Early life Michael Eisner was born to a wealthy family in Mt. Kisco, New York, and raised on Park Avenue in Manhattan. said Tuesday. ``Now, we begin a new year with great reason for optimism about the 12 months to come,'' he said in a speech to the Goldman Communacopia Conference in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Disney's earnings statement is due out later this month. - Wire services Employment fair on tap at Pierce WOODLAND HILLS - Los Angeles Pierce College's Job Fair 2000 will run from 9 a.m. to 1 p.m. today on the Campus Mall. Current and former students and members of the community are invited to discuss employment opportunities with about 50 California businesses and organizations. Sign-in will start at 8:15 a.m. at the Campus Center next to parking lot 7 at the Mason Avenue entrance. - Daily News Quintek extends warrant classes CAMARILLO - Quintek Technologies Inc. announced Tuesday that management has elected to extend its Class B, E, F and I Warrants until Dec. 31. Also, Quintek has received an extension on filing the company's first 10K report effective June 30. Although the extension allows for a two-week grace period from the Sept. 29 deadline, the company expects to have the 10K filed within the next few days. - Daily News Downey Savings expands at Ralphs NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. - Downey Savings announced an expansion of its full-service supermarket branches Tuesday with new locations at Ralphs markets in Glendale and Encino. - Daily News Fed hints at future interest rate hikes WASHINGTON - The Federal Reserve decided Tuesday for a third straight time to leave interest rates unchanged but signaled that further rate increases are possible because of rising energy prices. The central bank said soaring crude oil costs have had only a ``limited effect'' on underlying price pressures so far, but it added that higher energy costs posed the risk of ``raising inflation expectations'' down the road. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Energy efficiency on Clinton's list WASHINGTON - After a summer of brownouts, the Clinton administration Noun 1. Clinton administration - the executive under President Clinton executive - persons who administer the law proposed efficiency standards Tuesday that would require new home central air conditioners and heat pumps to use 20 percent to 30 percent less electricity. The increased cost of the improvements - $274 more for the air units and $486 for a typical heat pump - would be more than offset by consumers' electricity savings over time, Energy Department officials said. - Associated Press |
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