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Ex-Suncoast Chief Liable For Kickback Scheme

Law360 (July 28, 2006, 12:00 AM EDT) -- A former principal and a former trader at Suncoast Capital Group Ltd. have been found liable for violating securities laws in an alleged kickback scheme between the defendants and an employee of New York Life Insurance Company Inc.

Prosecutors alleged that in 1998 and 1999, Anthony Dong-Yin Shen directed millions of dollars worth of trades to Suncoast at favorable prices in exchange for at least $50,800 in cash and $6,400 in gifts. Shen was a New York Life employee whose duties included trading in New York...
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