Former head of Canary Capital Partners, Edward Stern, testified recently that a former BoA broker was largely unaware of any illegal trading activity taking place at his firm. Stern made his recent remarks at the criminal trial of former Bank of America broker Theodore C. Sihpol III.

During his much-anticipated testimony, Stern said he was uncomfortable putting anything in writing regarding the arrangement his hedge fund had with the bank to trade after the close. He also told the court that he never expressed those concerns to Sihpol nor did he believe that Sihpol had a comprehensive understanding of how mutual fund shares were traded.

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