6 MAY: As most suspected, last month’s surprise American Airlines takeover bid was a hoax.
The billion-dollar offer was made by 45-year-old Allen E. Weintraub via his company Sterling Global Holdings.
But America’s corporate watchdog, the Securities and Exchange Commission, says that neither he nor the company has any assets, newspaper USA Today reports.
The report says Mr Weintraub is on probation from past fraud convictions and is barred from serving as a corporate officer.
The SEC asked a federal judge on Wednesday to stop him making such offers.
He had earlier made a similar billion-dollar bid for the photographic materials giant Eastman Kodak.




