Former A.G. Edwards Trader Draws 3-Year Sentence

Law360, New York (March 7, 2008, 12:00 AM EST) -- A former A.G. Edwards & Sons Inc. trader was sentenced Thursday to three years in prison after pleading guilty to involvement in inappropriate stock loans and profiting off his former employer.

Judge John Gleeson of the U.S. District Court for the Eastern District of New York also ordered Michael B. McCormack to pay $900,000 in restitution. He must surrender in July.

McCormack, who worked in the loan department of A.G. Edwards until he was fired in 2005, was charged and pled guilty in August 2007 to...
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