{"id":6159,"date":"2017-06-05T23:33:35","date_gmt":"2017-06-06T04:33:35","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1608"},"modified":"2022-05-19T09:43:45","modified_gmt":"2022-05-19T14:43:45","slug":"former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund\/","title":{"rendered":"Former Sterne Agee Broker Pleads Guilty to Securities Fraud Involving NY Pension Fund"},"content":{"rendered":"<p>\t\t\t\tDeborah Kelley, an ex-Sterne Agee managing director and broker, has pleaded guilty to honest-services wire fraud and <a href=\"https:\/\/www.securities-fraud-attorneys.com\">securities fraud<\/a>. Kelley, admitted that she gave perks to former NY state pension fund manager Navnoor Kang in return for him directing trading business toward her firm.  She could be sentenced to up to five years in prison. A second broker, Gregg Schonhorn, has already pleaded guilty to related criminal charges against him.<\/p>\n<p>Kang, who was the portfolio manager of the New York State Common Retirement Fund, is accused of awarding the two brokers&#8217; firms over $2B of business in return for drugs, strippers, vacations, and lavish jewelry. <\/p>\n<p>As a result, contend prosecutors, the retirement fund\u2019s domestic bond transactions to her firm went from  $0 at the end of March 2014 to $179M in 2016.  FTN Financial, which is where Schonhorn worked, ended up garnering $2.3B of business from working with the NY pension fund. The two brokers were paid 35-40% of the millions of dollars of commissions made by their brokerage firms. <\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund\/#more-6159\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deborah Kelley, an ex-Sterne Agee managing director and broker, has pleaded guilty to honest-services wire fraud and securities fraud. Kelley, admitted that she gave perks to former NY state pension fund manager Navnoor Kang in return for him directing trading business toward her firm. She could be sentenced to up to five years in prison. [&hellip;]<\/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":[3957,3741],"tags":[2807],"class_list":["post-6159","post","type-post","status-publish","format-standard","hentry","category-pension-funds","category-securities-fraud","tag-sterne-agee"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Former Sterne Agee Broker Pleads Guilty to Securities Fraud Involving NY Pension Fund &#8212; Investor Lawyers Blog &#8212; June 5, 2017<\/title>\n<meta name=\"description\" content=\"Deborah Kelley, an ex-Sterne Agee managing director and broker, has pleaded guilty to honest-services wire fraud and securities fraud. Kelley, admitted &#8212; June 5, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Former Sterne Agee Broker Pleads Guilty to Securities Fraud Involving NY Pension Fund &#8212; Investor Lawyers Blog &#8212; June 5, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Deborah Kelley, an ex-Sterne Agee managing director and broker, has pleaded guilty to honest-services wire fraud and securities fraud. Kelley, admitted &#8212; June 5, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Former Sterne Agee Broker Pleads Guilty to Securities Fraud Involving NY Pension Fund &#8212; Investor Lawyers Blog &#8212; June 5, 2017","description":"Deborah Kelley, an ex-Sterne Agee managing director and broker, has pleaded guilty to honest-services wire fraud and securities fraud. 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Kelley, admitted &#8212; June 5, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Former Sterne Agee Broker Pleads Guilty to Securities Fraud Involving NY Pension Fund","datePublished":"2017-06-06T04:33:35+00:00","dateModified":"2022-05-19T14:43:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund\/"},"wordCount":353,"keywords":["Sterne Agee"],"articleSection":["Pension Funds","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund\/","url":"https:\/\/www.investorlawyers.com\/blog\/former-sterne-agee-broker-pleads-guilty-securities-fraud-involving-ny-pension-fund\/","name":"Former Sterne Agee Broker Pleads Guilty to Securities Fraud Involving NY Pension Fund &#8212; Investor Lawyers Blog &#8212; June 5, 2017","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-06-06T04:33:35+00:00","dateModified":"2022-05-19T14:43:45+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Deborah Kelley, an ex-Sterne Agee managing director and broker, has pleaded guilty to honest-services wire fraud and securities fraud. 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