Spitzer’s Case Against Former BofA Broker Dismissed

Law360, New York (October 12, 2005, 12:00 AM EDT) -- The first broker brought to trial by New York State Attorney General Elliott Spitzer in his attack on mutual fund trading abuses has slipped through the powerful prosecutor’s fingers.

On Wednesday, a New York judge dismissed the criminal charges against former Bank of America Corp. broker Theodore C. Sihpol, who was accused of defrauding mutual fund shareholders by allowing illegal after-hours trading.

Spitzer sued Sihpol in September 2003 in a highly-publicizes first volley at alleged wide-spread fraud in the $8 trillion mutual fund industry.

The Securities...
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