SEC Begins Testimony In Landmark Trial Over CDS

Law360, New York (April 7, 2010, 7:24 PM EDT) -- The U.S. Securities and Exchange Commission launched into witness testimony Wednesday in the trial of former Millennium Partners portfolio manager Renato Negrin and Deutsche Bank AG bond salesman Jon-Paul Rorech, marking the beginning of the first trial over alleged securities violations concerning credit default swaps.

Lawyers for the SEC called Negrin to the stand as the first witness in the anticipated three-week trial in the U.S. District Court for the Southern District of New York, garnering statements in which Negrin said he did not believe he...
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