HIGH FINANCE: The Price of Publicity

As the jerry-built empire of Alexander L. Guterma, financial juggler, began to totter early this year, he desperately sought more cash to save it. Guterma, then boss of the F. L. Jacobs Co.. which controlled the Mutual Broadcasting System and at least twelve other corporations, found a likely moneybags in the Dominican Republic's Generalissimo Rafael Trujillo, always willing to pay for favorable publicity. Last week a federal grand jury in Washington charged that Guterma, 44, collected $750,000 from Trujillo to disseminate "political propaganda" and failed to register as an agent of a foreign power. The grand jury also indicted as...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!