Former chief executive officer of a ConvergEx Group LLC unit and an ex-trader has been indicted for allegedly bilking millions of dollars from clients by charging hidden trading fees.
The indictment from the U.S. Justice Department was made public Thursday.
ConvergEx subsidiaries charged
As reported earlier, in December, three brokerage subsidiaries including ConvergEx Global Markets Limited and two former employees of leading trading services provider ConvergEx were charged with fraud in two parallel cases by the SEC. The cases relate to fraud wherein a number of institutional clients were charged much more than they were...
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