Brokers Face Fraud Allegations In Prudential Case

Law360, New York (August 29, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange commission filed civil charges against four former employees of a financial firm on the same day the firm announced it has agreed to one of the largest settlements so far in the probe of the mutual fund industry.

A subsidiary of Prudential Financial Inc. announced Monday that it would pay $600 million to resolve an investigation into allegations of improper market timing between September 1999 and June 2003. The four men facing civil allegations all worked at Prudential Securities Inc., the...
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