{"id":4482,"date":"2007-07-07T07:48:14","date_gmt":"2007-07-07T07:48:14","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/while_former_merrill_lynch_co"},"modified":"2022-04-14T14:20:24","modified_gmt":"2022-04-14T19:20:24","slug":"while-former-merrill-lynch-co","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/while-former-merrill-lynch-co\/","title":{"rendered":"While Former Merrill Lynch & Co. Stockbroker is Found Guilty of Witness Tampering, Seven Other Defendants are Acquitted in \u201cSquawk Box\u201d Securities Fraud Case Involving A.B. Watley Employees"},"content":{"rendered":"

In the U.S. District Court for the Eastern District of New York, a jury issued its verdict in the “squawk box” front running case. Seven people were acquitted of securities fraud, while Timothy O’Connell, a former Merrill Lynch & Co. stockbroker was found guilty of making false statements and of witness tampering. The judge, however, declared a mistrial for the one remaining conspiracy count to commit securities fraud against O’Connell. He faces up to 15 years in prison for the convictions, and prosecutors have announced that they will retry the conspiracy charge.<\/p>\n

According to prosecutors, O’Connell, and the two other broker defendants, David Ghysels-a former Lehman Brothers broker-and Kenneth Mahaffy-a former Merrill Lynch & Co. brokers, purposely placed off-the-hook phones that were active next to internal speaker systems at their firms.<\/p>\n

The purpose of doing this was to let a number of former A.B. Watley employees, including ex-president Robert Malin, former proprietary trading supervisor Keevan Leonard, former compliance director Linus Nwaigwe, and former CEO Michael Picone, listen in while large orders about to be made by institutional clients were broadcast over the boxes.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

In the U.S. District Court for the Eastern District of New York, a jury issued its verdict in the “squawk box” front running case. Seven people were acquitted of securities fraud, while Timothy O’Connell, a former Merrill Lynch & Co. stockbroker was found guilty of making false statements and of witness tampering. The judge, however, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3837,3773,3741],"tags":[],"class_list":["post-4482","post","type-post","status-publish","format-standard","hentry","category-a-b-watley","category-broker-fraud","category-securities-fraud"],"yoast_head":"\nWhile Former Merrill Lynch & Co. Stockbroker is Found Guilty of Witness Tampering, Seven Other Defendants are Acquitted in \u201cSquawk Box\u201d Securities Fraud Case Involving A.B. 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