Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Pru Broker Accepts Guilty Plea Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 20, 2005

Pru Broker Accepts Guilty Plea

by: Theresa Sim

As expected, former Prudential Securities broker Martin Druffner has pleaded guilty to federal fraud charges related to market timing for mutual funds, reports Reuters.

Druffner was charged with four counts of securities fraud and four counts of wire fraud for helping hedge funds market time mutual funds. Druffner was one of a team of Prudential brokers based in a Boston office that aided the hedge funds. He faces up to 20 years in prison. Druffner is scheduled to be sentenced on December 12.

Druffner accepted a statement which said that he made $1 million in net commissions from the trades.

"He recognizes that he made some mistakes in his career at Prudential and hopes to start his life anew," Druffner's lawyer Michael Collora told Reuters. Collora said that Druffner's jail time may be reduced if he aided federal officials in their investigation.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use