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Trial begins in alleged invention fraud.

Publication: Knight-Ridder Tribune Business News
Publication Date: 17-MAR-05 		Format: Online - approximately 811 words
Delivery: Immediate Online Access

Article Excerpt
Byline: Onell R. Soto

Mar. 17--La Jolla's Basic Research Corp. promised investors that technologies it controlled would bring wholesale changes to telecommunications, medicine and the energy business.

Prosecutors say the only changes the company brought were to the bank accounts of about 110 investors, who together lost more than $12 million.

In a trial that began this week in San Diego federal court, prosecutors are seeking the conviction of two company executives on charges of fraud, money laundering and tax-evasion conspiracies.

Several others have pleaded guilty and await sentencing -- including a former high-ranking state official and a man who claimed to have helped start Nike, the sports apparel powerhouse.

At the center of the company's promises were the inventions...

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