Stock-Loan Fee Case Nets Two More Guilty Pleas

Law360, New York (March 13, 2008, 12:00 AM EDT) -- A former Morgan Stanley stock-loan trader and his brother-in-law filed guilty pleas Thursday related to their alleged participation in a kickback and fraud scheme in the stock-loan business.

Appearing before U.S. District Judge John Gleeson of the Eastern District of New York, trader Peter Sherlock and pharmacist Donato Tramontozzi pled guilty to conspiracy to commit securities fraud. Sentencing is scheduled for June.

The two men were indicted in September on charges stemming from an industrywide probe into claims of bribes and kickbacks in the securities lending...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.