Manchester Stockbroker
Charged with Securities Fraud

Note: this press release was issued by the Division of Criminal Justice
and not by the Department of Banking.

May 30, 2000  -

Chief State's Attorney John M. Bailey announced the arrest today of BOUTROS F. MANSOUR a.k.a PIERRE MANSOUR, age 39, of Manchester, Connecticut, on a three count warrant charging him with Larceny in the First Degree, Fraud in Connection with the Sale of Securities, and Sale of Unregistered Securities. He faces a maximum possible sentence of 32 years incarceration if convicted of all charges.

The Securities and Business Investments Division of the Department of Banking made a complaint to Bailey's office that they had received several complaints from Connecticut residents concerning alleged investment fraud involving Mansour. According to the arrest warrant affidavit, Mansour, who was registered as a securities agent with the Department of Banking, allegedly made false statements and solicited several clients to invest in what he referred to as a hedge fund or an arbitrage trading program. Losses totaling over $40,000 to those investors resulted.

Mr. Mansour is scheduled to be arraigned in the Superior Court at G.A. #12, Manchester, on June 7, 2000. The case is being prosecuted by the Statewide Prosecution Bureau in Bailey's office. The charges against Mr. Mansour are merely allegations, and he is presumed innocent until and unless proven guilty beyond a reasonable doubt.

[Editorial Note: Mr. Mansour pleaded not guilty to the charges in Superior Court on June 7, 2000.]