People v. Abbott

Isidor Wasservogel, Special Referee.

Plaintiff seeks a permanent injunction enjoining the defendant from engaging in the securities business within and from the State of New York on the ground that he had participated in fraudulent practices as defined in article 23-A of the General Business Law, commonly known as the “ Martin Act.”

The complaint alleges that during the period from 1941 to 1954, defendant, while employed by certain securities dealers in the city of New York as a salesman and customers’ man, purchased and sold securities on behalf of one Paul A. Gerhardt. Plaintiff contends that…