MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, March 30, 2006 Ex-Pru Securities Manager Charged In Market Timing Scheme A former Prudential Securities branch office manager has been charged by federal prosecutors for allegedly assisting in a fraudulent scheme involving the market timing of mutual funds. Robert Shannon, 54, was charged Wednesday with one count of aiding and abetting securities fraud as part of an ongoing probe into improper mutual fund trading practices, prosecutors announced in a news release. In 2005, some of the former brokers Shannon supervised in the Boston office, including Martin Druffner and Skifter Ajro, pleaded guilty in the scheme. Shannon, a former Brookline, Massachusetts resident now living in Maryland, resigned in 2003. Printed from: MFWire.com/story.asp?s=11544 Copyright 2006, InvestmentWires, Inc. All Rights Reserved |