Tuesday, August 30, 2005

"Defanged Spitzer Spares Fund Crooks Jail Time "

I highly recommend this article with its fantastic headline.
"Wall Street crime buster Eliot Spitzer appears to have lost some of his fighting spirit.

On Tuesday, the New York Attorney General netted two more guilty pleas in the mutual fund trading scandal, bringing the number of individuals convicted by Spitzer's office in the two-year-old investigation to nine.

But the big news is that the plea deals negotiated by Spitzer's office with Grant Seeger and William Kenyon do not require either defendant to serve jail time. Instead, Spitzer has agreed that the former top executives of Security Trust, a defunct trust bank that processed abusive trades for two big hedge funds, can be sentenced in October to five years probation. Both men also will each pay a $50,000 fine."


Blogger Johnjon said...

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4:10 AM  
Blogger Paramendra Bhagat said...

Eliot Spitzer

9:12 PM  

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