Facebook Twitter

I WAS IN THE DARK ABOUT STOCK DEAL, N.Y. SENATOR SAYS

SHARE I WAS IN THE DARK ABOUT STOCK DEAL, N.Y. SENATOR SAYS

Sen. Alfonse D'Amato says a $37,000, one-day profit he made on Wall Street resulted from a stock deal that was arranged without his knowledge by the son-in-law of a close friend.

"He made a lot of money on one investment; he lost some on others," D'Amato said Thursday of stockbroker David Beall.D'Amato, R-N.Y., the Senate's most persistent critic of the investment practices of President Clinton and his wife in the 1970s, was responding to a report in the Capitol Hill newspaper Roll Call that he was himself the beneficiary of a lucrative transaction.

The stock purchase, an initial public offering of 4,500 shares of a little-known California company, Computer Marketplace, was made for D'Amato by a New York brokerage firm with a checkered history.

D'Amato said he's done nothing improper.