New arrests in conspiracy and money laundering case
New arrests in conspiracy and money laundering case
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.
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