{"id":5812,"date":"2015-05-28T00:00:00","date_gmt":"2015-05-28T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/05\/dallas_trader_is_sentenced_in_1"},"modified":"2015-05-28T00:00:00","modified_gmt":"2015-05-28T05:00:00","slug":"dallas-trader-is-sentenced-in-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/dallas-trader-is-sentenced-in-1\/","title":{"rendered":"Dallas Trader is Sentenced in $3.5M Texas Securities Fraud Case Involving Institutional Investors"},"content":{"rendered":"\n

A Texas man was sentenced to 30 months in prison after pleading guilty to securities fraud<\/a>. At the time of the fraud, Daniel Lutz Bergin was an equity trader for Cushing MLP Asset Management, which is located in Dallas.<\/p>\n

While at the registered investment adviser, Bergin had discretionary assets under management of about $2.5B. He serviced institutional investors and high net worth individuals through portfolio and advisory management services.<\/p>\n

However, from 2010 until he was fired in May 2013, Bergin engaged in a front-running scam involving the misuse of inside information when making trades in his wife\u2019s brokerage account. He would use non-public, material data about big orders that he was able to access from Cushing. The information was supposed to be used for making trades on behalf of his clients. Instead, he also used the information to make trades through his wife\u2019s account.<\/p>\n

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

A Texas man was sentenced to 30 months in prison after pleading guilty to securities fraud. At the time of the fraud, Daniel Lutz Bergin was an equity trader for Cushing MLP Asset Management, which is located in Dallas. While at the registered investment adviser, Bergin had discretionary assets under management of about $2.5B. He […]<\/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":[3750],"tags":[2607],"class_list":["post-5812","post","type-post","status-publish","format-standard","hentry","category-texas-securities-fraud","tag-front-running"],"yoast_head":"\nDallas Trader is Sentenced in $3.5M Texas Securities Fraud Case Involving Institutional Investors — Investor Lawyers Blog — May 28, 2015<\/title>\n<meta name=\"description\" content=\"A Texas man was sentenced to 30 months in prison after pleading guilty to securities fraud. 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