Former Lehman Brothers broker Frederick Bowers of Manhattan was sentenced by federal judge George Daniels after he pleaded guilty to conspiracy to commit securities fraud, reports the Associated Press. Daniels ordered Bowers to pay a $15,000 fine and $12,000 in forfeiture, and serve 2,000 hours of community service. Bowers was involved in a scheme that prosecutors said earned $4.8 million in profits for several people. Bowers heard pending mergers and other inside information from his wife, a public relations specialist.
Ex-Lehman Broker Sentenced to 2,000 Hours Community Service for Insider Trading Scheme
Frederick Bowers, a former Lehman Brothers broker, was sentenced for his role in securities fraud.
September 17, 2009
what a joke