Ex-Janney employee among six indicted
NEW YORK - The U.S. Attorney's office in Brooklyn says six people are accused of kickbacks and fraud at the stock-loan desks of Wall Street brokerage firms.
NEW YORK - The U.S. Attorney's office in Brooklyn says six people are accused of kickbacks and fraud at the stock-loan desks of Wall Street brokerage firms.
Indictments unsealed today allege securities fraud conspiracy and related charges against the defendants, including former stock loan supervisors at Philadelphia-based Janney Montgomery Scott LLC and at Morgan Stanley.
The defendants are due in court this afternoon.
The charges are part of an ongoing, industrywide investigation into allegations of bribery and kickbacks in the securities lending industry, also called the stock-loan industry.