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opened a federal criminal probe into an E. F. Hutton check-overdrafting scheme that operated between 1980 and 1982 and which earned the company millions of dollars in illegal gains. As a result, the company's reputation was severely tarnished and it began losing clients which quickly led to financial
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286:. During his tenure, Fomon oversaw the sale of Hutton shares to the public and listing on the New York Stock exchange, and the creation of its famous advertising slogan, "When E. F. Hutton talks, people listen." The May 6, 1987
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difficulties. In
December 1986, the company pleaded guilty to 2,000 felony counts, but neither Robert Fomon or any Hutton executives were charged. In early 1987, Hutton's
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wrote that his leadership "helped build the retail-oriented brokerage house into one of the industry's most successful during a difficult era on
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Robert Fomon was first married in 1954 to
Marilyn Quaintance with whom he had two children. Divorced, he married for a second time in 1975 to
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of 1956. That marriage too ended in divorce and in 1989 he married Daphne Lewis Ashley
Widener, the ex-wife of
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E. F. Hutton & Co. never recovered from the damage the scandal caused and in 1988 it was acquired by
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While living in
California in the 1960s, Robert Fomon became involved in the sport of
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162:(January 3, 1925 – May 31, 2000) was an American financier who was
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Fomon joined E. F. Hutton in 1951, eventually rising to head of
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United States
Attorney for the Middle District of Pennsylvania
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American chief executives of financial services companies
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forced Robert Fomon to step down as head of the company.
296:." Robert Fomon also recognized the potential dangers of
428:"BUSINESS PEOPLE; Hutton's Chairman Expected to Resign"
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and the two should operate as independent entities.
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355:, hospital on May 31, 2000, at age seventy-five.
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426:Cuff, Daniel F.; Sterngold, James (6 May 1987).
178:, and Chairman of the Board of Governors of the
372:http://www.encyclopedia.com/doc/1P2-530741.html
384:"Sharon Kay Ritchie is Wed to Robert M. Fomon"
107:USC Graduate School of Business Administration
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300:in the financial industry and advised the
308:that he believed there was a fundamental
501:University of Southern California alumni
152:USC Alumni Award for Business Excellence
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511:American racehorse owners and breeders
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174:from 1970 to 1987, a governor of the
526:20th-century American businesspeople
447:"Money ManagerāBroker Divorce Urged"
506:Stock and commodity market managers
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103:SEC National Market Advisory Board
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199:University of Southern California
71:University of Southern California
324:Business scandal and resignation
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201:and in 1951 went to work in the
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347:Robert Fomon died following a
270:Head of E. F. Hutton & Co.
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467:obituary for Robert M. Fomon
111:Thayer School of Engineering
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516:Businesspeople from Chicago
132:Daphne Lewis Ashley Widener
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413:"Inclusive Horse Pedigree"
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342:Shearson Lehman Brothers
252:Sunland Park, New Mexico
476:article on Robert Fomom
234:Peter A. B. Widener III
176:New York Stock Exchange
168:Chief Executive Officer
95:New York Stock Exchange
211:E. F. Hutton & Co.
180:Pacific Stock Exchange
172:E. F. Hutton & Co.
99:Pacific Stock Exchange
91:E. F. Hutton & Co.
521:American stockbrokers
256:San Luis Rey Handicap
310:conflict of interest
160:Robert Michael Fomon
87:Board member of
472:September 30, 1985
390:. 16 February 1975.
353:Palm Beach, Florida
304:administration of
195:Appleton, Wisconsin
59:Palm Beach, Florida
451:The New York Times
432:The New York Times
388:The New York Times
335:Board of Directors
222:Sharon Kay Ritchie
205:department of the
128:Sharon Kay Ritchie
124:Marilyn Quaintance
276:corporate finance
248:Sunland Racetrack
203:corporate finance
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53:(2000-05-31)
51:May 31, 2000
496:2000 deaths
491:1925 births
294:Wall Street
207:Los Angeles
81:Stockbroker
485:Categories
359:References
316:firms and
302:Republican
209:office of
77:Occupation
32:1925-01-03
280:Manhattan
113:(Trustee)
67:Education
284:New York
232:member,
191:Illinois
185:Born in
164:Chairman
140:Children
298:mergers
264:Arcadia
187:Chicago
118:Spouses
40:Chicago
148:Awards
61:, U.S.
351:at a
166:and
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