Former Broker Dealer Head May Get 15 Years

Law360, New York (February 24, 2006, 12:00 AM EST) -- The former owner of defunct broker-dealer Lloyd Wade Securities Inc. has been convicted for allegedly participating in a scheme that ultimately drained investors in an online gaming company of more than $12 million.

Former Lloyd Wade president David Rutkoske was found guilty of conspiracy and securities fraud in connection with the alleged scheme, which manipulated shares of an online gaming software company.

Rutkoske was among 14 former officers and employees of the company who were indicted January 2004 on charges they had worked together on the...
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