Friday, July 08, 2005

Spitzer To Retry Sihpol

New York Attorney General Eliot Spitzer plans to retry ex-Bank of America Corp. broker Theodore Sihpol III unless he settles a suit with U.S. regulators by admitting wrongdoing about late trading and agrees to sanctions.

On June 9, a jury acquitted Sihpol of 29 charges related to late trading of mutual fund shares. The jury, favoring acquittal 11-1, deadlocked on four charges: securities fraud, scheming to defraud and two counts of falsifying business records. The judge declared a mistrial on the four counts, giving Spitzer the option of retrying Sihpol or dropping the charges. [San Antonio Express News]


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