DEMOULAS CO-FOUNDER FOUND LIABLE FOR DEFRAUDING HEIRS

TEWKSBURY, Mass. -- The co-founder of Demoulas Super Markets here has been found liable for defrauding the heirs of his late brother of much of their ownership of the privately held supermarket chain.A jury found Telemachus "Mike" Demoulas liable for securities fraud, breach of fiduciary duty and theft, according to a statement by the plaintiffs' attorneys. The civil suit, which was heard in a Massachusetts

TEWKSBURY, Mass. -- The co-founder of Demoulas Super Markets here has been found liable for defrauding the heirs of his late brother of much of their ownership of the privately held supermarket chain.

A jury found Telemachus "Mike" Demoulas liable for securities fraud, breach of fiduciary duty and theft, according to a statement by the plaintiffs' attorneys. The civil suit, which was heard in a Massachusetts Superior Court, said the fraudulent acts occurred between 1971 and 1987.

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