Money manager Mario Gabelli--the very one who prompted the the FCC to change the rules when it comes to bidding credits for small businesses participating in wireless auctions and who just entered a $34 million settlement with the U.S. government over his alleged use of sham small-business affiliates in federal auctions of wireless spectrum--has filed a short-form application with his telecom unit, Lynch Interactive, to bid in the upcoming advanced wireless services (AWS) auction. Gabelli, who has denied any wrongdoing, was sued in 2001 by the government claiming he defrauded it of at least $85 million by hiding Lynch's control of small businesses in spectrum auctions during the 1990s. Some of the discounted licenses he won with Lynch later sold for more than $200 million. The final $34-million settlement is expected to be filed this week at the U.S. District Court in Manhattan. FCC commissioner Jonathan Adelstein told RCR Wireless News that the government should bar Gabelli from participating in any auctions for life.
To read more about Gabelli's involvement in the upcoming AWS auction:
- check out this article from RCR Wireless News