Finders Schemed To Defraud JP Morgan: SEC Suit

Law360, New York (April 16, 2008, 12:00 AM EDT) -- A group of stock loan finders accused of bilking JP Morgan Chase & Co. of more than $1 million through a fraudulent stock loan scheme will have to answer to the U.S. Securities and Exchange Commission in court.

The SEC's civil suit, filed Tuesday in the U.S. District Court Eastern District of New York, alleges that Robert Durant, Robert Johnson, Lori Caporicci and James Bennett defrauded JP Morgan through a series of securities lending transactions designed to allow the traders to misappropriate the profits from the...
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