Ex-Morgan Stanley Exec Convicted In Kickback Scam

Law360, New York (March 25, 2009, 12:00 AM EDT) -- A former Morgan Stanley & Co. Inc. executive has been convicted for his role in an alleged scheme to steer securities lending transactions to small brokerage firms in exchange for kickbacks to family members.

Darin DeMizio, a former executive director at Morgan Stanley and head of its domestic securities lending desk, was convicted Tuesday of conspiring to commit securities fraud and wire fraud and lying to the FBI, authorities said.

He faces a total of 30 years in prison when he is sentenced June 19 in...
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