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The quixotic offers by the mysterious Emil Bernard to buy US Airways Group and Trans World Airlines have evaporated -- without financing, regulatory approval or any convincing means of support -- but questions remain about how regulators pursue phony bids and how easily those bids can manipulate markets. Suspect bids are prevalent, but outright hoaxes are difficult to prosecute and often go unpunished.
August 20, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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