Ex-Oppenheimer Exec Pleads Guilty To Stock Fraud

Law360, New York (May 16, 2007, 12:00 AM EDT) -- A scheme to manipulate bank regulations governing stock conversions has ended in a guilty plea for one former executive of Wall Street firm Oppenheimer & Co.

Former Oppenheimer Executive Vice President Bart Fingerhut on Wednesday pled guilty to one count of conspiracy to commit securities fraud and agreed to disgorge $11 million in ill-gotten gains. The U.S. Securities and Exchange Commission, which brought the civil fraud case against Fingerhut, said it may still impose a penalty on the former executive.

In addition to Fingerhut, the SEC’s...
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