Ex-Merrill Broker Pleads Guilty To Investment Scheme

Law360, New York (May 18, 2010, 5:40 PM EDT) -- A former Merrill Lynch & Co. Inc. broker pled guilty Tuesday to running a $6 million investment scheme that involved convincing investors to put their money in short-term loan participation programs that did not exist.

Brion Randall of Plano, Texas, pled guilty to bank fraud and mail fraud in the U.S. District Court for the Northern District of Texas, where he could be sentenced to up to 30 years in prison and fined $1 million for each offense.

Randall, who was fired from Merrill Lynch in...
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