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What does the Supreme Court case "C. Arnholt SMITH and Philip A. Toft, Applicants, v. UNITED STATES and San Diego County, California" imply about the relationship between federal and local authorities in the United States?

The case "C.

Arnholt SMITH and Philip A.

Toft, Applicants, v.

UNITED STATES and San Diego County, California" is a federal grand jury case dealing with conspiracy, fraud, and embezzlement charges.

The case involves allegations of financial misconduct by C.

Arnholt Smith, a prominent businessman and banker in San Diego, including embezzlement of $170 million.

Philip A.

Toft's role in the case is unclear, but he was likely a business associate of Smith and may have been involved in the fraudulent activities.

The case was a notable legal proceeding that resulted in Smith's conviction and sentencing to prison in 1973.

The case involves a long-established policy of secrecy surrounding grand jury proceedings in federal courts.

The case is referred to as "No.

A-230" and was handled by the Supreme Court of the United States.

Smith's indictment on charges of conspiring to defraud Steward's Bank of $170 million was returned by a federal grand jury in San Diego in the 1970s.

The case highlights the importance of financial regulation and oversight to prevent fraud and embezzlement.

Smith's conviction and sentencing were milestone events in the history of San Diego's business and financial community.

The case illustrates the consequences of financial misconduct and the importance of holding individuals accountable for their actions.

The case underscores the need for transparency and accountability in business and financial dealings.

The case highlights the complex relationships between business, politics, and law enforcement, and the consequences of getting caught up in these networks.

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