Jury Finds Former NYSE President Guilty Of Fraud

Law360, New York (November 3, 2009, 6:46 PM EST) -- A federal jury has ruled that Former New York Stock Exchange President Gerald Putnam and two others defrauded a former business partner out of millions of dollars related to the development of electronic stock exchange Archipelago Holdings LLC.

The jury awarded Lewis Borsellino $11 million in damages in the Circuit Court of Cook County, Illinois, on Tuesday, in a suit against Putnam, Marrgwen Townsend and Stuart Townsend, according to Borsellino's lawyer, Jon Loevy of Loevy & Loevy.

“The judge asked them to value what Lewis was...
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