Charges Against Ex-Fleet Specialist Trader Dropped

Law360, New York (October 9, 2006, 12:00 AM EDT) -- Federal prosecutors in Manhattan have decided to shelve a securities fraud case against a former specialist at Fleet Specialist Inc. who allegedly executed improper trades on the floor of the New York Stock Exchange.

The prosecutors said it would not be in the “interests of justice” to pursue two counts of securities fraud against Donald R. Foley II, according to the filing on Friday.

In 2005, prosecutors hit Foley and 14 former specialists with criminal charges for allegedly executing improper trades at the NYSE.

The U.S....
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