Prudential Broker Admits Market-Timing Scam

Law360, New York (September 17, 2008, 12:00 AM EDT) -- A year after facing civil charges for his role in a massive market-timing ring, former Prudential Securities Inc. broker Justin Ficken has pled guilty to multiple criminal charges over the multimillion-dollar scheme.

Ficken pled guilty to conspiracy, securities fraud and wire fraud on Monday before Judge Patti Saris in the U.S. District Court for the District of Massachusetts, the U.S. attorney's office in Boston said Wednesday.

Ficken admitted to playing a part in a conspiracy to execute deceptive market-timing trades in dozens of mutual funds while...
To view the full article, register now.