In Securities Dealer’s Sentencing, Judge Blasts ‘Corrupt’ Wall Street Culture
January 26th, 2010
In sentencing former Credit Suisse securities dealer Eric Butler to five years in prison for his role in a scheme to trick investors into purchasing high-risk and high-commission subprime securities, a New York federal judge has condemned “the pernicious and pervasive culture of corruption” on Wall Street. The judge also fined Butler $5 million, about $1 million more than Butler’s estimated assets.
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In Securities Dealer’s Sentencing, Judge Blasts ‘Corrupt’ Wall Street Culture