We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Feds Indict Eight More In Stock-Loan Kickback Case

Law360 (May 22, 2008, 12:00 AM EDT) -- Eight people, including former stock-loan supervisors at Morgan Stanley & Co. Inc. and Janney Montgomery Scott LLC, were indicted Thursday on charges stemming from a multimillion-dollar fraud on Wall Street's stock-loan desks.

The indictments, unsealed in the U.S. District Court for the Eastern District of New York, are the latest in a continuing federal probe into allegations of an industrywide conspiracy of kickbacks and phony finders' fees by traders at major brokerage firms that has already nabbed 18 individuals.

The eight charged in the four new...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.