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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) June 19, 1997
BESICORP GROUP INC.
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(Exact name of Registrant as specified in its charter)
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New York 0-9964 14-1588329
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(State or other (Commission File (I.R.S. Employer
jurisdiction of incorporation) Number) Identification No.)
1151 Flatbush Road, Kingston, New York 12401
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number, including area code: 914-336-7700
This document consists of 4 pages.
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ITEM 5. OTHER EVENTS
On or about May 2, 1996, certain officers, directors, employees, former
employees of the Company and certain spouses and affiliates thereof, were served
subpoenas by the U.S. Attorney's office for the production of document and/or
potential testimony before a United States Grand Jury in White Plains, New York.
The Company complied with the document request contained in the subpoena. On May
15, 1997 the United States District Court, Southern District, New York, returned
an indictment against the Company and its Chairman, Chief Executive Officer and
President, Michael F. Zinn, charging each with five counts of conspiring to
violate the Federal campaign finance laws and making false statements in
connection with the 1992 Congressional campaign of Maurice D. Hinchey.
On June 19, 1997 the Company and its Chairman, Chief Executive Officer and
President, Michael F. Zinn, each entered guilty pleas to two felony counts in
United States District Court for the Southern District of New York, White
Plains, New York. The Company entered a guilty plea to one count of causing a
false statement to be made to the Federal Election Commission ("FEC") and one
count of filing a false tax return, both in connection with contributions to the
1992 election campaign of Congressman Maurice Hinchey. Mr. Zinn similarly
entered a guilty plea to one count of causing a false statement to be made to
the FEC and one count of causing the filing of a false tax return in connection
with contributions to the 1992 election campaign of Congressman Maurice Hinchey.
Both the Company and Mr. Zinn will be sentenced on September 19, 1997. The
Company is uncertain as to what effect or consequences this development will
have to its current or future business activities.
ITEM 5. EXHIBITS
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99.1 Press Release of the Company dated June 19, 1997
99.2 Press Release of William M. Brodsky, Esq., attorney to Mr. Zinn, dated June 19, 1997
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Besicorp Group Inc., Registrant
By: /s/ Steven G. Nachimson
Steven G. Nachimson
Assistant Corporate Secretary,
Date: June 25, 1997 Corporate Counsel
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Exhibit 99.1
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BESICORP GROUP INC. News Release
For Immediate Release
Contact: Steven G. Nachimson, Esq. - Corporate Counsel 914-336-7700
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KINGSTON, NEW YORK, JUNE 19, 1997-BESICORP GROUP INC. (AMEX Emerging Company
Marketplace - BGI.EC) reported that the Company and its Chairman and Chief
Executive Officer, Michael F. Zinn, each entered guilty pleas today to two
felony counts in United States District Court for the Southern District of New
York, White Plains, New York. The Company entered a guilty plea to one count of
causing a false statement to be made to the Federal Election Commission ("FEC")
and one count of filing a false tax return, both in connection with
contributions to the 1992 election campaign of Congressman Maurice Hinchey. Mr.
Zinn similarly entered a guilty plea to one count of causing a false statement
to be made to the FEC and one count of causing the filing of a false tax return
in connection with contributions to the 1992 election campaign of Congressman
Maurice Hinchey.
Both the Company and Mr. Zinn will be sentenced on September 19, 1997. The
Company is uncertain as to what effect or consequences this development will
have to its current or future business activities.
Besicorp specializes in the development of independent power projects and energy
technologies.
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Exhibit 99.2
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Baden Kramer Huffman & Brodsky, P.C.
For Immediate Release
Contact: William M. Brodsky, Esq. (212) 363-7020
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NEW YORK, NEW YORK, June 19, 1997-William M. Brodsky, Esq., attorney for Mr.
Zinn, released the following statement:
"Mr. Zinn apologizes to anyone who may have been hurt by his actions and accepts
responsibility for the violations of law which occurred when certain
contributions made by Besicorp employees to the 1992 Congressional campaign of
Maurice Hinchey were reimbursed by Besicorp."
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