Lehman Ex-Sales Rep Pleads Guilty To Trading Scam

Law360, New York (May 14, 2009, 12:00 AM EDT) -- A former Lehman Brothers Holdings Inc. sales representative on Thursday copped to two criminal charges stemming from a multimillion-dollar insider trading scam in which he passed on illegal stock tips stolen from the wife of a colleague.

Frederick Bowers, 41, who pled guilty Thursday in the U.S. District Court for the Southern District of New York, is the third defendant to make a plea deal in the case since May 5, following former day trader Jamil Bouchareb and former Paul Hastings Janofsky & Walker LLP tax...
To view the full article, register now.