Men cleared of bribery charges.Basic Capital Management, Inc. ("BCM BCM Baylor College of Medicine BCM Become BCM Business Communications Manager (Nortel) BCM Broadcom Corporation BCM Business Continuity Management BCM Business Contact Manager (Microsoft) ") announced that Gene E. Phillips and A. Cal Rossi, Jr. have been acquitted of all charges in the U.S. District Court, Southern District of 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 . Messrs. Phillips and Rossi had been indicted INDICTED, practice. When a man is accused by a bill of indictment preferred by a grand jury, he is said to be indicted. in June 2000 in connection with an alleged scheme to bribe union officials in connection with a proposed sale of shares of preferred stock of a company advised by BCM. Phillips is a real estate investor A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. whose children's trust owns BCM. Mr. Rossi was an executive of BCM and managed BCM's capital markets department. Phillips' attorney, Abbe Lowell, stated: "We are pleased that this matter has finally been resolved. This was a very long and difficult trial which lasted over three months. While both men have consistently maintained that they did not commit any of the acts they were charged with, this verdict finally and completely clears these gentlemen of all allegations of any wrongdoing wrong·do·er n. One who does wrong, especially morally or ethically. wrong  do and supports our position that they never should have been charged."
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