^Lot 503 E.F. Hutton & Company Specimen Stock Certificates

DE. Specimen. Vignette of woman holding arms out toward E.F. Hutton sign. 3 different stock certificates, all common. Transitional stock certificates. All overprinted in red "THE NAME OF THIS COMPANY IS THE E.F. HUTTON GROUP". 1). than 100 shs, green. Rare stock type of this famous company. E.F. Hutton & Co. was an American stock brokerage firm founded in 1904 by Edward Francis Hutton. In the 1980's, the conglomerate disintegrated due to corporate misconduct, mostly by the brokerage firm. The firm had knowingly engaged in money laundering for organized crime (the so-called "Pizza Connection" because money was sometimes delivered in pizza boxes) and other unlawful groups (including the "Iran-Contra Affair"). It was not until after the president of the brokerage firm, Scott Pierce (the brother of Barbara Bush, wife of the then-vice-president of the U.S.), entered his corporation's guilty plea to 2000 criminal courts of federal mail and wire fraud in 1985, that the Hutton conglomerate fell apart. The Firm was sold to Shearson Lehman/American Express, to form Shearson Lehman Hutton. In the 1993, acknowledging that it had failed to create the country's first financial services supermarket, American Express sold Shearson and Hutton retail brokerage operations to Sandy Weill's Primerica. ABNC.