OTHER NEWS - March 6, 1993

SEC Accuses Fund Manager of Misusing Investor Money: The Securities and Exchange Commission has sued Robert F. Doviak, a nationally known hedge fund manager in Dallas, accusing him of diverting investors’ money to prop up a failing brokerage. The SEC claims that Doviak took about $1 million of the $4 million that investors pumped into Doviak Partners, an investment limited partnership, between March, 1990, and now. Much of the money allegedly went to pay the bills for Doviak Securities Inc., a brokerage Doviak bought in February, 1990. The SEC is asking that a federal judge order Doviak to repay investors and issue an injunction blocking the alleged activity. The agency is also asking for unspecified fines. Doviak did not return calls to his Dallas office.