ADecember 05 1952
Los Angeles Evening Citizen News, Hollywood, California, Friday, December 05, 1952
Suit Demands Snader TV Sales
Loose handling of Corporation funds was charged to Alexander Bisno today by Reuben R. Kaufman in a new Superior Court suit revolving around Snader Telescriptions Sales Inc.
A lengthy involved suit accused Bisno of conspiring with Samuel Markovitch, a member of the corporation Board of Directors, to destroy the business.
Bisno treasurer of the corporation, is charged with spending $750,000 without a full accounting, spending $25,000 of working capital without authorization, withdrawing $6,500 of corporation funds for himself, and keeping corporation money in his personal account.
This all occurred, the suit alleges, while Kaufman, one-fourth owner of the corporation, was president at a salary of $25,000 a year.
Kaufman goes on to say that the corporation which owns distribution rights to 800 short, musical television films, a series of half-hour Dick Tracy TV movies, and all Korda Pictures, has received approximately $2,100,000 in income up to May of this year while spending $1,800,000. Where is the other $300,000 the suit asks.
Kaufman didn't miss a bet in naming defendants, listing them as follows:
Snader Telescriptions Sales Inc., Alexander Bisno, Samuel Markovitch, BSM Telescriptions, Louis D. Snader, Snader Distributing Co., Ben Frye, United Television Programs Inc., Studio Films Inc., Bisno Telefilm Sales, Henry Bisno, Nathan Dicker, and Sidney Dorfman.
What Kaufman seeks through the suit is an injunction against further distribution of the corporation's films an accounting of “secret profits,” removal of Alexander Bisno and Markovitch as directors, a receiver to take over the firm's affairs, and damages in an undetermined amount.
