Jeffrey Sudikoff '77, who donated more than $3 million for the construction of the College's computer science laboratory, plead guilty Friday to insider-trading charges in connection with his Los Angeles-based communications firm.
Sudikoff, the chairman of the now-defunct IDB Communications Group, plead guilty to two counts of fraud and to the charge of filing false forms with the U.S. Securities and Exchange Commission. He has been fined $3 million and faces 12 to 18 months in jail.
Sudikoff and IDB President Edward Cheramy were indicted last January for inflating IDB's 1994 income by millions of dollars to raise the value of the company's stock.
To support the increase in income, the pair allegedly created a fictional sale of a "satellite transponder capacity" to a company called British Telecom. Sudikoff created fraudulent letters purportedly written on British Telecom letterhead to support the transaction, according to the original indictment.
Sudikoff was also charged with selling $1.6 million of fraudulent IDB stock in March 1994 through an account set up in a friend's name, which he then transferred the funds to an offshore account.
Neither Sudikoff nor his lawyers could be reached for comment.
Sudikoff, the former owner of the Los Angeles Kings hockey team, and his wife, Joyce, donated more than $3 million for the construction of the Sudikoff Laboratory for the Computer Sciences in 1993.
At Dartmouth, Sudikoff majored in English and mathematics and served as news director of WDCR, the College's radio station.
