Third Refco Executive Pleads Guilty To Fraud

Law360, New York (February 20, 2008, 12:00 AM EST) -- Just days after former Refco CEO Philip Bennett pled guilty to playing a role in the fraud that felled the once high-flying brokerage, another former executive has followed suit.

Former Chief Financial Officer Robert Trosten plead guilty to fraud and conspiracy on Wednesday, agreeing to cooperate with government prosecutors in exchange for leniency in sentencing.

In a January 2007 indictment, prosecutors charged Trosten with conspiracy, securities fraud, wire fraud, bank fraud and money laundering.

Trosten's guilty plea came during a “proceeding of interest” in the case...
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