21.   And a number of officials are beginning to express doubt that such a scheme existed.

22.   As they discussed the details of such a scheme, Clinton grew increasingly excited.

23.   At the moment, it is also unclear to investigators whether such a scheme would constitute a violation of any state or federal law.

24.   A. American and European securities regulators have taken this allegation seriously but the investigation has found no proof of such a scheme.

25.   But as events came to light, he said, he realized how easy it would be for the players to become involved in such a scheme.

26.   But such a scheme would be rife with risks.

27.   Carey flatly denied having discussed this with Nash, asserting that if Nash had proposed such a scheme, Carey would have dismissed him immediately.

28.   Company executives said Thursday that no credible evidence had been found that such a scheme existed.

29.   Edward McElroy, district director of the immigration service in Manhattan, said it was the largest number of INS employees arrested in such a scheme in New York.

30.   Fernandez denies any part in such a scheme.