Ex-Smith Barney Adviser Gets 3 Years For Fraud

Law360, New York (August 19, 2011, 4:03 PM EDT) -- A former Smith Barney financial adviser was sentenced Friday in New York to 38 months in prison for defrauding clients of more than $3 million when he forged transaction authorizations in an attempt to cover a loss he caused in a 2009 trade.

U.S. District Judge William Pauley sentenced Sanjeev Jayant Kumar Shah after his November guilty plea to one count of securities fraud and three counts of wire fraud. He allegedly used money from one client's account to cover losses in the account of another...
To view the full article, register now.