Ex-Van Der Moolen Specialists Get 27 Months

Law360, New York (October 16, 2006, 12:00 AM EDT) -- Two former specialists at Van der Moolen Specialists USA LLC each received 27 months in prison and a $250,000 fine on Friday for their role in an illegal trading scheme involving interpositioning and frontrunning on the floor of the New York Stock Exchange.

Judge Sidney Stein of the U.S. District Court for the Southern District of New York also sentenced Joseph Bongiorno and Patrick McGagh to two years of supervised release following their jail term.

The two are scheduled to report to jail on January 5,...
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