Thursday FBI arrested four employees of Morgan Stanley and Janney Montgomery Scott LLC on charges of conspiracy and money laundering.
This arrest is a result of a three-year probe of stock-loan desk workers who allegedly took millions of dollars in kickbacks.
Former employees of both firms were among a group of six people who funneled millions of dollars in fraudulent finder fees to their co-conspirators for cash bribes.
The defendants may get 25 years of imprisonment if convicted.