Ex-investment banker indictedThe former associate chairman...

BUSINESS DIGEST

March 12, 1993

Ex-investment banker indicted

The former associate chairman of investment bank Hambrecht & Quist was indicted by a federal grand jury yesterday in Denver on three counts of securities and wire fraud. The indictment alleges illegal activities by Q. T. Wiles while chairman of the now-defunct Longmont, Colo.-based MiniScribe Corp., a disk-drive manufacturer in which Hambrecht & Quist had a controlling interest.

According to an investigation, MiniScribe inflated its inventory by packaging bricks as products. Scrap parts were also counted as inventory.

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