The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Spitzer Targets Late-Trading Broker Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 15, 2006

Spitzer Targets Late-Trading Broker

Reported by Neil Anderson, Managing Editor

Fund companies can breathe a little easier today: Eliot Spitzer has set his sights on someone that isn't with a mutual fund in his investigation of the fund industry. The case marks the first time Spitzer's office has gone directly after one of the hedge funds with criminal charges related to siphoning assets from a fund.

On Thursday, the New York State Attorney General indicted stock broker James A. Wilson of Trautman Wasserman & Co., Inc. for allegedly "defrauding mutual funds by ... 'late trading'" for hedge funds.

According to the release, Wilson has been indicted on 11 counts, including "Scheme to Defraud in the First Degree, Falsifying Business Records in the First Degree, and securities fraud," all class "E" felonies.

Wilson was released on $25,000 bail and ordered to remain in the New York tri-state area.

The case is being prosecuted by Assistant Attorneys General Harold Wilson and Jeffrey Locke of the Criminal Prosecutions Bureau under the supervision of Criminal Prosecutions Bureau Chief Janet Cohn.

Wilson was also the lead prosecutor in the trial of Theodore Sihpol last year. Spitzer's office lost that case with the bulk of the charges being dismissed by the jury. Later interviews with jurors on the Sihpol panel by MFWire.com revealed that Wilson failed to convincely make a legal case against the late trading. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use